A few issues regarding Colombia: 1. Colombia might give you a visa this year. Next year, Colombia may not grant you the same or any visa at all. This has happened to many people, including RUclipsrs. 2. If you stay more than 180 days, you have to declare your worldwide assets to DIAN. You never know who might have access to your financial data. You might be eligible for a wealth tax as well. Therefore, your losses will exceed your savings. 3. Transferring funds to Colombia is complicated and expensive. You pay 1% of your transfer value to Banco de la República and your bank.
Agreed with the points by @hamid1106 (note, #2 it is more than 183 day per 365 day period). It is not the cost to get the residency visa, but the cost in taxes and living after you get the visa that really matters, so this video is kind of a red herring IMO. Being a tax resident in Colombia is so unfavorable, i can't imagine anyone beyond poverty-level wealth wanting to reside there. My advice, take the taxes saved not residing in Colombia and use it to pay for living in a more tax-friendly location. Colombian gov will skim off money at every turn.
😂 Nobody in Colombia is doing that. DIAN ain't the IRS, provided your not dumb enough to keep your life savings in the country, they have no power to find it. Its how the rich never pay taxes there. A Colombian bank account should only have enough to pay some bills
Nobody does any of that in Colombia🤣. DIAN does not have the power to hunt your assets down like the US does. You're salary and assets are whatever you declare provided you don't move all your savings to Colombia. A Colombian bank account should only hold enough to pay the bills. As for the visa, this is why you need to go through a lawyer connections. Don't fill out that shit yourself
I am so glad that I got my Mexican Permanent Resident Visa over 7 years ago. It was so much more affordable back then, as was beachfront property in Mazatlán. I feel bad for the folks that want to retire here now, since the cost of real estate has risen dramatically in the last 7 years. It really is much easier to become a perpetual tourist in Mexico nowadays (come for 180 days on a tourist permit, leave for awhile, and come right back).😉😊💓
My wife and I did a relocation tour of Panama. It was wonderful. I could very easily retire there, even though we ultimately didn’t. Absolutely love Colombia. I’ve been there on 13 different trips. Great country, beautiful scenery, wonderful people and delicious food. Politically however it’s a mess…
While I have read the same about Columbia, I have also discovered in my search for a new country, that the majority of countries are in deed a political mess, Almost all countries appear to be corrupt today --including the USA.
Oh interesting you find Panama affordable. I have very good multiple military pensions and I didn't find Panama any cheaper than life here in Canada. I also lived in Colombia for a couple years because my wife is Colombian and I can tell you when you stay there for more than just the length of a normal trip or vacation aka , actually live there, you get a very different vibe for the place. I'm not just talking about the extreme instability of the socialist government, there's so much more that erodes the quality of life. After living there two years I can honestly say I would never ever live there long term again.
For us when we moved from Canada to Mexico we took the rout where we showed 6 months of paystubs. (must make an X amount of $$$) for sure that # has changed. We thought it was funny, here is our paystubs from the job we HAD but will now longer have when we move. haha Well the wife kept working online and still is working but was not necessary. Cheers from 2 Canadians living in Mexico. Feliz Navidad 🎄🎁✌🏽
Gracias amigo! How long ago did you move? May I ask are you in an ex-pat, tourist, or local area? Did you own or buy property there? I heard you cannot open a bank account unless you have some kind of papers to show you are living there? Muchas gracias!
@pablopiquante3227 We moved here to Mexico over 3 years ago. We got our temporary residency in Calgary before we left Canada. We are moving around Mexico right now. We spent 2 years in the Yucatán then one year in Xalapa Veracruz. We are now in Huatulco Oaxaca, we live in an area that is mostly locals. You can open a bank account here with your temporary residency. We only rent and have no desire to buy property here. ✌🏼❤️🇲🇽 Good luck amigo. 🤞🏼😃
@@2GringosOnTheGulf Thanks, I will start printing off some old pay statements now :+). We visited Hualtulco last year, lots of nice Canadians. I am currently living just outside of Edmonton and the -20 C is very motivating! Hasta pronto :+)!
@@pablopiquante3227 Be sure to check the application requirements on your local consulate’s website, because they can be changed at any time. Usually the Mexican government increases the minimum monthly income requirement at the beginning of the year when the new minimum wage rules take effect in Mexico.
@@camiller4916 It can be ... then again, in their winter (June/July) it can be very pleasant. For those hot months, aircon is not a problem since electricity is very cheap.
The problem with Colombia is SAFETY! I have been for two weeks, the reality is nowhere safe for a foreigner. Pollution, corruption everywhere, and scammers in every line of work.
Funny, I spent three weeks traveling around Colombia earlier this year. I felt TOTALLY SAFE. People were kind and helpful. Beautiful country. None of the areas I visited were polluted. I'm sure there are some, though, just like in the States. As far as corruption, welcome to your new reality in the US.
@stonew1927 of course luxury hotels and resorts are safe. Try to visit where Colombians live! As for your " US" comparaison, just so you know, it was never a model of safety nor honesty!
For my temporary residency, it was actually a full 12 months of bank statements. In fact, I had to re-start, because my average balance in checking dropped below the required minimum for exactly 5 days. So no, this is not an easy requirement to satisfy.
Same here. Full 12 months to prove your average monthly income, savings statement, proposed investment amounts, etc. And you need a decent attorney to navigate it all.
Interesting. We went to the consulate in Las Vegas last year and they only looked at the balance at the end of each month. Of course, if one of those 5 days that your balance dipped below the required amount was on the last day of the month, then you'd have a problem.
@Calipeixegato Curiously enough, my balance dropped briefly because I took some money from the account to pay for some real estate in Mexico. The transfer to replace the amount of the expense took a little longer than expected. There was exactly zero flexibility on the part of the consulate staff. It will be a tough time for most folks who will go through this process come January when the minimum wage in Mexico climbs higher and the calculus changes again.
I read where someone said they were denied to re-enter Mexico as their passport showed they were taking advantage of the 180 days back and forth but who knows as Paul mentioned- depends on where you are and encounter. I can see where "slow travel" is in deed a way to live. Not for me but can see the advantages.
@@MR-pr8tp There is a way around that. If you cross at a land border ( I usually cross at the Laredo TX crossing)If you encounter an Immigration agent who won't give you the 180 days, or questions you about the back and forth (they really don't check) and denies you they 180 days etc. Just come back the next day or even 8 hours later after the shift change and the next agent will more than likely give you what you want the 180 days. I have done it a few times when I didn't get the full 180 days. Also, I don't know about the other land border crossings, but at the Nuevo Laredo point, 9 times out of 10 there is Never an agent stopping cars or buses to check for your Mexican tourist permit coming back to the border. The little Immigration shack is always empty, they really don't care about people leaving Mexico. Now, this only applies to land border crossings, flying is a different story, as they are a little more strict.
@@williesteele4503 Actually smiled at your strategy. This is aligned with the statement Paul made about depending on the consulate and the required income. As much as the "mañana" attitude can require an adaptation for Americans, in this case it is in our favor. And also surprised at the increased income levels for residency for Mexico. But again read where several had income way below the required income and was approved. Thanks for sharing. I actually visualized (and smiled) you standing nearby waiting in the wings and on the "changing of the guards".
Nicaragua $600 usd. For Mexico the only affordable residency route that many are taking is; They let their tourist visa expire then show up at their local immigration office (INM) and ask for the "regulation program" . This way you can get your residency WITHOUT financial. That program is in place since covid and still exist.
I read where 2 Americans - females did not meet the minimum requirements but travelled across the US to different consulates, and was approved anyway. And though they didn't say their income, both indicated they were well below the requirements. And I too have read the strategy you mentioned works too.
Hola Pablo y Linda! I thought I would let you know that I heard from a good source that Mexico is finally going to implement the UMA in determining the amount needed to prove economic solvency. This along with extending the RNE Program should dispel the notion that Mexico only wants wealthy people moving there. If they only wanted wealthy people to qualify for residency they realize that would only exasperate the problem concerning gentrification. By doing this it will lower the amount needed for a resident visa down to around $1500 to $1700us. Buena suerte desde la hermosa Baja!
Guess why the hurdles especially for USAmericans are reasonably high 😂 Hint: More than half of the country has been stolen by the US already 🙄 Hopefully they will ask for proof of language knowledge at least! if you want to be permanent resident - like in Europe.
How is it feels? To apply for a visa not guaranteed in Mexico is a few thousand pesos...and surprised you won't get it, so usa is doing a great business with mexicans!
I am so confused. I’ve seen several RUclips videos that pretty much echo your points here for Mexico. And yet I know Americans living in Mexico who live on their Social Security checks. I have a friend who’s retired in Mexico now and says that this requirement is a smoke screen that can be easily circumvented. You are absolutely right about which Consulate you go to. But what my friends tell me in Mexico is to start the process in a Consulate here and then travel to Mexico City and continue the process within three days. They tell me that there are no financial stability requirements despite the now well-known hurdle. I want to retire in Mexico, but I have a modest income in California that will not meet these requirements.
For those considering expat life, analyze the political stability of the country. I live in Ecuador as we speak, but the country is struggling with gangs, a poor economy, and can't manage its electrical grid as hours of blackouts are now the norm each day. Police and judicial corruption is common around the world, but the country you are considering might be exploitive of people they consider "rich." Like you. Buyer beware.
Six years ago, my husband and I were able to obtain our permanente residente in Mexico without a four-year wait period because we are retired and could demonstrate solvency. To begin, we made an appointment at the consulate in Phoenix and completed the process several weeks later in the Mexican city where we own a condo.
And you can't even drink the water there. It is appalling that their requirements are so high and yet can lack in infrastructure in so many areas. Just does not correlate very well. But has the lowest cost of living for most countries
I am watching from Costa Rica, my go-to place for quality, inexpensive dental work. I plan to relocate to Mexico in 2025 to retire. The sums you mentioned are likely to go up again!!! in January, 2025.
Love the videos Paul. Not sure if you’re aware of the new points system that Mexico will implement going from temp resident to permanent. If you can see if you can find some more information on that and do a video would be great.
Yes, Mexico has a new program. If you're there for 2223 and 21 and now I'm 24. There's a program that I have is gonna have to cost of the income of your residue. Be there you get a temporary pass for resume and you want to pay the high fees requirements in Mexico? This program still run it. It's on RUclips that 1 man mentioned and requirements he played. And he got resident easy route to income resident
It doesn't. But they have other visas too. I am considering Spain and even though there is a double taxation treaty,, American social security and pensions are taxed, presenting a tax complication one has to consider before wanting to live in Spain. They require private health insurance too and must match the same coverage their public system- and no co-pays. And the company must be on their approved list. Still considering Spain, as I lived there long ago and loved it. And you can drink the water!
Great Video and as I search for a relocation country, my first option was Mexico. I'm glad you mentioned the income requirements because I discovered as you said it really depends on the consulate you visit. Some are a lot less than the "advertised" minimums. I am searching for my best country and some tax your pensions, even with a treaty, and some require private health insurance. Spain requires a no - copay health insurance that matches their public system, and will tax your American pensions even with a tax treaty preventing double taxation (foreign tax credit) so taxes become very complicated. All of this indeed gets complicated and quickly eats into your income, standard of living for that country.
I'm surprised more people don't look at France for a residency visa. The pension income requirement is reasonable (about EUR 1,770/month per person) and they let you use investment account balances in lieu of pension income (generally believed to be about EUR 60,000/person, there doesn't appear to be any official threshold published). The added bonus is that you are able to earn income while living in France with this type of visa. So if you have a consulting business, a private practice of some sort, or earn money through social media content, you won't have to give that up in order to live in France. This is partly because the visa is not a "retirement" visa. France and the US also evidently have a very generous tax treaty which helps minimize the tax implications of US citizens living abroad in France.
I'll be coming back to this video when I have a moment. Good stuff as usual Paul. Can you do Vietnam? Dude, did you change your channel name or am I having a stroke?
When one thinks outside the box, it's possible to see other options that can be good for retirement. In Spain, most people choose the South, but in the North the weather is mild, there's a great cultural offer, social welfare services, and quality of life.
Paul, good overview. Mexico is an interesting case study. We've been permanent residents here for 7+ years. Back when we applied for our residency the monetary requirements were far lower. It's only been in the past couple of years that they have skyrocketed. I suspect it is because the Mexican government got tired of the massive flow of retirees relying solely on social security heading south of the border. By some estimates there are as many as 1 million US and Canadian retirees living in Mexico. Knowing you lived here for several years as well I'd enjoy hearing your thoughts on the matter.
The mexico consulate site I checked did not list the economic solvency requirements for a temporary resident as either a savings or an income. I did not see the word "or". It is listed as if BOTH are simultaneously required. An income of $4.393 AS WELL AS the savings of approx $72,000. Please clarify this for me. Thanks
Write them directly to get the numbers. Some if their sites are better than others. The Mexican Consulate in San Diego has the most information on their site.
@@qroo Thanks for your response. I did reach another consulate, with a better, more professional website and was far more responsive by email. Incredible the differences between consulates. Thanks again!
I visited Thailand during the Asian Economic Crisis around 2003. I loved it there, but too far from home. One could live like a king with a US pension. Things change. Mexico was cheap seven years ago when I started the process and now I feel like I'm still in the States, financially speaking. I still love Mexico but scratch off "cheap" as a reason to move, at least at this time.
Hi Paul, MX temporal resident currently checking out Thailand here. Every country has its pros and cons. Everything is a tradeoff. After my experience marrying a Tica many years ago and US immigration screwing us, I looked at Panama. I went to Guatemala a few months ago too. So far, MX is still the winner for weather but who knows. A lot of it has to do with the people you meet.
Hey Paul, there’s more things for CR you don’t mention. They also want you to have health insurance. Plus with the 60,000 it can’t get any lower then that number. Check it!
Paul, Any thoughts on Ecuador and El Salvador? the US dollar is the national currency in both of those countries (Panama also) El Salvador has undergone a dramatic change since the President Bukele has rid the country of the gang members who were in control, and is now one of the safest countries in Latin America.
Ecuador is wonderful, but read about it carefully. Gang violence remains, political turmoil (including assassinations), corruption, electrical blackouts, water rationing, etc. It's an amazing place, if you have the funds, and are relaxed enough to deal with the idiosyncrasy of the systems here.
No, gangs were not in control. only in poor neighborhoods, places retirees would never in their wildest dreams consider to move. Other than that EL salvador could be a good destination if you have the solvency, rent has gone up and land too; western part of San Salvador can be very expensive, with rent for an apartment easily on the 800 to 1500 a month or higher; of course there are cheaper options but in not so fancy districts; beware of expressing political opinions since the country is moving into a dictatorship and some basic rights are suspended , for example anyone with tatoos can become suspicious for authorities, and get arrested. In general, services like water and electricity are decent, no blackouts like other nations in Latam, and water at least in big cities is ok too. I dont think there are any retirement pre requisites only clean records.
@@9mtaurus I've seen many videos recently by youtubers in El Salvador and the changes that have come to that country with the new President. all I can say is it seems to being going in a better direction. I wish them well.
I am considering Panama but when looking at Private health insurance for better healthcare, found it to be really expensive. Having said that I am in the beginning stage and need more research. I read a post that the hospitals in Panama close due to staff infections. If that is true or not I don't know, and how old the post was. That too is something I want to know about. It was the same time I was seeking insurance quotes and Panama was the most expensive vs Spain, Philippines, Mexico etc. ) So have to wonder why their private healthcare is expensive.
I'm in a country in South America, but it is not as easy to "leave" America as one would think. It depends on the visa type, but none of them are a breeze. The cost of living is fantastic, the amenities, beauty, people, culture...all amazing. But they don't make it easy for you to be here. The attorney costs alone can be in the thousands, and your proof of income, investment, educational credentials, etc are reviewed in microscopic details. If your can't prove you won't be a drain on their economy, you aren't getting in.
I have read the same stories from others regarding leaving the USA. What I also discover is there are a lot of Americans who despise the idea that Americans would be disloyal and "leave America", making rude comments yet they are watching and reading articles about how to leave. Many make comments about how no one is actually leaving , just talk, but expresses ignorance to the fact that it isn't a matter of packing your bags and leaving. Even those of us beginning this journey find all the requirements for different countries like health insurance etc is quite a learning experience and a long process! And after the work is done just hoping as your said "getting in". The consulates alone aren't exactly easy to deal with at least where I live!
Worth mentioning that along with the income requirement in Colombia, you must also accumulate a total of five years time with most types of (M) Migrant class visas (such as the Pension or Investor visas) before you can qualify for residency. (V) Visitor class visas such as the student or digital nomad visas cannot qualify for residency no matter how much time they accumulate.
Most people can. It's what they usually give tourists flying in or at the border crossing. that's 6 months in Mexico. When your time is about to be up, come back to USA for the weekend, then go right back into Mexico and get another 180 days. Yes, it's a hassle to come back, but you don't have to deal with all the ridiculous requierements to get a temp resident Visa in Mexico. Once you are in Mexico, it's very rare that you will ever be asked by anyone to show your tourist permit, Unless! you do something really stupid, like sell drugs, have a car accident, etc. I have never been asked for it in the 25 years I have been going to Mexico.
@@williesteele4503 Will staying for 180 days, leaving for couple of days and coming back into Mexico for another 180 days qualify you as a tax resident of Mexico? That's a big deal!
Just got approved for a TR Visa. Washington DC. Do I have to be present in Mexico to make the INM appointment or can I just get all the paperwork done now & then get FMM after entering CDMX? Any advice would be appreciated!
You will be granted a 30 day FMM when you enter Mexico so you can report to INM in that period of time for section two of the process. Every INM office is different. Some accept appointments and some do not. With the latter, it is first come first served.
This video provoked us to look into getting a Mexico temporary residency. We meet the income requirements from our in home contracted position. Although our passports expire in July so we probably need to renew those first. Should we be approved for the residency by showing proof of income, do we need to do that each year when we renew until we become permanent? Shouldn’t be a problem to show proof again next year provided nothing changes. One question, will this include temporary residency for our 10 year old child? Would love for him to eventually obtain residency in Mexico.
The Phoenix Mexican Consulate's recent automated email gave the same numbers as you, BUT the savings route requires 12 months of statements, not 6. Income is only 6. Just finished printing 11 months of them.
Thanks for the video. One request: please turn off the baked in close captioning. It is super distracting, in my opinion, and users can turn them on if they like. We can't turn them off if they are embedded.
Perhaps it is just me, but I can't take it. Maybe it is an attention thing but do not like. I know this channel is not specifically for my enjoyment only
Mexico requires a lot, as in a double standard for their people to come to the US. It's comical at this point. Philippines is a better option than all of those as far as income requirements, but all of the countries are other good options compared to the US.
@@MrAmhara I would think the influx of Americans and even those that travel across the border for affordable healthcare is putting the hurt on Mexico. but also a lot of Canadians have chosen Mexico as well from what I understand.
How can you leave out two very desirable countries based on their low requirements. Panama requires a little over $1,000 and Paraguay which has no income requirement. Both much better than Mexico. Argentina and Uruguay also have a low requirement. All much better places than Mexico.
I remember watching a youtube by someone else a couple of months ago who mentioned a caveát re depositing anything over $10,000 in a bank in another country besides the US (for US Citizens). He said the IRS will tax you on that money. It's the only country in the world that does that, so he said. Do you know anything about that?
If you qualify for the retirement visa and have minimal pension and assets, then Colombia may be a good option. But for higher net worth individuals, they'll get crucified by taxes.
Seems like more people would be talking about the bank balance option for financial solvency for Mexican temp residency. I would think a lot more people would have some money in the bank, investments, etc. than having over $4k a month coming in.
Agreed. How can one provide "guaranteed income" from an investment portfolio when values go up and down and not all funds are dividend paying? Unless you have a bonafide pension or annuity, i think just showing the bank/brokerage balance is a simpler approach.
Glad you sad that because I am researching a lot of different countries and sometimes their requirements- private insurance, taxes etc can really affect the net income and the reason for relocation.
My understanding the income requirement for residency is based on the minimum wage of Mexico and that is increasing in 2025 and will affect the minimum income requirement for residency even more. I would think that by inviting higher income individuals that would result in even higher housing costs that the Mexican citizen/ population is already having to contend with. Yet I get why one has to be able to support himself/herself. With the cost of living in Mexico, the minimum requirement feels way out of proportion.
Got our 4 year TR without leaving the country in Mexico in 2021. There's ways to do it without crazy $$$ but of course listening to videos like this all of you will try the 'normal channels'😂
With the new approach from AMLO and now Claudia if a immigrant requests a refugee status it will be granted with a permit to work and they are offered work with the government programs with reforestation and others and it will eventually lead to permanent residency
I don't know how 2 Canadian pensioners can afford the 6100.00 requirement needed but it is getting even worse now and I think it's because a lot of Americans are going to be flooding the borders here and in Mexico come January.
I think Paul is pointing out that it pays to shop around for the different financial solvency requirements and other requirements of the different countries. For example, Mexico has no minimum stay requirements for their temporary and permanent residency permits. Some other countries require that you spend a minimum number of months in the country per year to maintain your resident status (so you can spend more of your money there, putting it into the country's economy).
@sallylee6934 I think you’ll find it’s a trickle in the end. I know a bunch of people with Trump Derangememt Syndrome and they’re just going to stay and grumble. When you think about it, 12 of the last 16 years in America have been under left-leaning politics (which half the country disagrees with). And the country is in a mess. So it’s time for the losers this time round to put up and shut up
Holy fuck; "economic solvency"- what a concept! Can you IMAGINE (if) our own country REQUIRED the same of EVERYONE coming in on a visa, asylum, ETC. ??? ALOT of money would be saved!
@@canileaveitblank1476they do. Yes, the United States has minimum financial requirements for some residency visas: Green card sponsorship The minimum income to sponsor a family member or spouse for a green card is 125% of the HHS Poverty Guidelines, or 100% for active duty military. For example, as of August 2024, the minimum income for a household of two is $25,550. The specific income required depends on the HHS Poverty Guidelines, which are updated annually. K-1 visa To qualify for a K-1 visa, you must have a stable income and meet the minimum annual earnings requirement. For example, for a household of two, you must make at least $24,650. E-1 Treaty Trader Visa This visa is designed for individuals or companies involved in substantial trade between the U.S. and their home country. There is no set investment amount required, but you must demonstrate that your business is actively engaged in international trade.
You don’t understand the difference between a visa and a residency permit We can visit all of these countries without showing any money it’s only to stay past that time
Thailand, hot, humid, crowded, polluted, difficult to obtain long term residency. Not unlike Colombia. Spain is part of the Woke EU, and is very difficult to get long term residency.
2 countries that weren’t on the list that are a more viable option than any of these is 1. Dominican Republic and 2. Philippines. I could make a whole video on both but for retirees these two countries are better options than the destinations mentioned in this video.
DR (as well as other countries, yes I know) has a very high rate of sex trafficking young girls. Do a little bit of searching on the Internet and you'll find a lot of legitimate articles about the sex trade in the Dominican. You couldn't pay me to go back there for a day
SMART people are doing the RNE run Come in, get your passport stamped, and leave Come back next year for a week or 180 days and OVERSTAY, then go to Immigration and get your PERM VISA RNE ! PAINLESS !
why the hell would anyone retire in Mexico if you have to show almost 8000 $ a month. For half that, you could live in the midwest IN THE UNITED STATES. Mexico can go $%^k itself.
Ummmm, yep. It is. Unless you're hiding until an amnesty program pops up -- which they do. You should review the immigration law and supporting regulations.
This video provoked us to look into getting a Mexico temporary residency. We meet the income requirements from our in home contracted position. Although our passports expire in July so we probably need to renew those first. Should we be approved for the residency by showing proof of income, do we need to do that each year when we renew until we become permanent? Shouldn’t be a problem to show proof again next year provided nothing changes. One question, will this include temporary residency for our 10 year old child? Would love for him to eventually obtain residency in Mexico.
A few issues regarding Colombia:
1. Colombia might give you a visa this year. Next year, Colombia may not grant you the same or any visa at all. This has happened to many people, including RUclipsrs.
2. If you stay more than 180 days, you have to declare your worldwide assets to DIAN. You never know who might have access to your financial data. You might be eligible for a wealth tax as well. Therefore, your losses will exceed your savings.
3. Transferring funds to Colombia is complicated and expensive. You pay 1% of your transfer value to Banco de la República and your bank.
Agreed with the points by @hamid1106 (note, #2 it is more than 183 day per 365 day period). It is not the cost to get the residency visa, but the cost in taxes and living after you get the visa that really matters, so this video is kind of a red herring IMO. Being a tax resident in Colombia is so unfavorable, i can't imagine anyone beyond poverty-level wealth wanting to reside there. My advice, take the taxes saved not residing in Colombia and use it to pay for living in a more tax-friendly location. Colombian gov will skim off money at every turn.
All true!!
😂 Nobody in Colombia is doing that. DIAN ain't the IRS, provided your not dumb enough to keep your life savings in the country, they have no power to find it. Its how the rich never pay taxes there.
A Colombian bank account should only have enough to pay some bills
Nobody does any of that in Colombia🤣.
DIAN does not have the power to hunt your assets down like the US does. You're salary and assets are whatever you declare provided you don't move all your savings to Colombia. A Colombian bank account should only hold enough to pay the bills.
As for the visa, this is why you need to go through a lawyer connections. Don't fill out that shit yourself
I am so glad that I got my Mexican Permanent Resident Visa over 7 years ago. It was so much more affordable back then, as was beachfront property in Mazatlán. I feel bad for the folks that want to retire here now, since the cost of real estate has risen dramatically in the last 7 years. It really is much easier to become a perpetual tourist in Mexico nowadays (come for 180 days on a tourist permit, leave for awhile, and come right back).😉😊💓
My wife and I did a relocation tour of Panama. It was wonderful. I could very easily retire there, even though we ultimately didn’t. Absolutely love Colombia. I’ve been there on 13 different trips. Great country, beautiful scenery, wonderful people and delicious food. Politically however it’s a mess…
While I have read the same about Columbia, I have also discovered in my search for a new country, that the majority of countries are in deed a political mess, Almost all countries appear to be corrupt today --including the USA.
political mess like in the US
Like the US 🤣🤣
Oh interesting you find Panama affordable. I have very good multiple military pensions and I didn't find Panama any cheaper than life here in Canada. I also lived in Colombia for a couple years because my wife is Colombian and I can tell you when you stay there for more than just the length of a normal trip or vacation aka , actually live there, you get a very different vibe for the place. I'm not just talking about the extreme instability of the socialist government, there's so much more that erodes the quality of life. After living there two years I can honestly say I would never ever live there long term again.
@@rocambole93Gustavo Petro is quite a bit beyond a garden variety corrupt politician. He is in the mold of Chavez…
For us when we moved from Canada to Mexico we took the rout where we showed 6 months of paystubs. (must make an X amount of $$$) for sure that # has changed.
We thought it was funny, here is our paystubs from the job we HAD but will now longer have when we move. haha Well the wife kept working online and still is working but was not necessary. Cheers from 2 Canadians living in Mexico. Feliz Navidad 🎄🎁✌🏽
Gracias amigo! How long ago did you move? May I ask are you in an ex-pat, tourist, or local area? Did you own or buy property there? I heard you cannot open a bank account unless you have some kind of papers to show you are living there? Muchas gracias!
@pablopiquante3227
We moved here to Mexico over 3 years ago. We got our temporary residency in Calgary before we left Canada.
We are moving around Mexico right now. We spent 2 years in the Yucatán then one year in Xalapa Veracruz. We are now in Huatulco Oaxaca, we live in an area that is mostly locals.
You can open a bank account here with your temporary residency. We only rent and have no desire to buy property here. ✌🏼❤️🇲🇽
Good luck amigo. 🤞🏼😃
@@2GringosOnTheGulf Thanks, I will start printing off some old pay statements now :+). We visited Hualtulco last year, lots of nice Canadians. I am currently living just outside of Edmonton and the -20 C is very motivating! Hasta pronto :+)!
@@pablopiquante3227 Be sure to check the application requirements on your local consulate’s website, because they can be changed at any time. Usually the Mexican government increases the minimum monthly income requirement at the beginning of the year when the new minimum wage rules take effect in Mexico.
@@FLANNELSHIRT Thanks! It would be the Calgary location so I will keep an eye on it!
Paraguay has no income requirement -- they just want a very clean background check.
Paraguay looks hot and humid
@@camiller4916 It can be ... then again, in their winter (June/July) it can be very pleasant. For those hot months, aircon is not a problem since electricity is very cheap.
The problem with Colombia is SAFETY!
I have been for two weeks, the reality is nowhere safe for a foreigner.
Pollution, corruption everywhere, and scammers in every line of work.
Funny, I spent three weeks traveling around Colombia earlier this year. I felt TOTALLY SAFE. People were kind and helpful. Beautiful country. None of the areas I visited were polluted. I'm sure there are some, though, just like in the States. As far as corruption, welcome to your new reality in the US.
@stonew1927 of course luxury hotels and resorts are safe.
Try to visit where Colombians live!
As for your " US" comparaison, just so you know, it was never a model of safety nor honesty!
@@maxfella I was camping in Colombia, it was safe.
The CIA is exporting coke from Colombia.
@@jacqueslee2592 Colombians and Italians are exporting cocaïne lol
Always useful information presented in an easy-to-understand manner with a little humor tossed in. Thanks.
Love your delivery; very informative with a healthy dose of humor. Just what I needed at 6:30 a.m. to start my day with a smile. Thanks, Paul!
For my temporary residency, it was actually a full 12 months of bank statements. In fact, I had to re-start, because my average balance in checking dropped below the required minimum for exactly 5 days. So no, this is not an easy requirement to satisfy.
Same here. Full 12 months to prove your average monthly income, savings statement, proposed investment amounts, etc. And you need a decent attorney to navigate it all.
Interesting. We went to the consulate in Las Vegas last year and they only looked at the balance at the end of each month. Of course, if one of those 5 days that your balance dipped below the required amount was on the last day of the month, then you'd have a problem.
@Calipeixegato Curiously enough, my balance dropped briefly because I took some money from the account to pay for some real estate in Mexico. The transfer to replace the amount of the expense took a little longer than expected. There was exactly zero flexibility on the part of the consulate staff. It will be a tough time for most folks who will go through this process come January when the minimum wage in Mexico climbs higher and the calculus changes again.
You can always do the border dash every 6 months. 180 days is easy to get with a itinerary.
I read where someone said they were denied to re-enter Mexico as their passport showed they were taking advantage of the 180 days back and forth but who knows as Paul mentioned- depends on where you are and encounter. I can see where "slow travel" is in deed a way to live. Not for me but can see the advantages.
@@MR-pr8tp There is a way around that. If you cross at a land border ( I usually cross at the Laredo TX crossing)If you encounter an Immigration agent who won't give you the 180 days, or questions you about the back and forth (they really don't check) and denies you they 180 days etc. Just come back the next day or even 8 hours later after the shift change and the next agent will more than likely give you what you want the 180 days. I have done it a few times when I didn't get the full 180 days. Also, I don't know about the other land border crossings, but at the Nuevo Laredo point, 9 times out of 10 there is Never an agent stopping cars or buses to check for your Mexican tourist permit coming back to the border. The little Immigration shack is always empty, they really don't care about people leaving Mexico. Now, this only applies to land border crossings, flying is a different story, as they are a little more strict.
@@williesteele4503 Actually smiled at your strategy. This is aligned with the statement Paul made about depending on the consulate and the required income. As much as the "mañana" attitude can require an adaptation for Americans, in this case it is in our favor. And also surprised at the increased income levels for residency for Mexico. But again read where several had income way below the required income and was approved. Thanks for sharing. I actually visualized (and smiled) you standing nearby waiting in the wings and on the "changing of the guards".
Great to see you back!
Thanks! It's good to be back.
Nicaragua $600 usd.
For Mexico the only affordable residency route that many are taking is; They let their tourist visa expire then show up at their local immigration office (INM) and ask for the "regulation program" . This way you can get your residency WITHOUT financial. That program is in place since covid and still exist.
I read where 2 Americans - females did not meet the minimum requirements but travelled across the US to different consulates, and was approved anyway. And though they didn't say their income, both indicated they were well below the requirements. And I too have read the strategy you mentioned works too.
I enjoyed the video!
Hola Pablo y Linda 😊
Hola Pablo y Linda! I thought I would let you know that I heard from a good source that Mexico is finally going to implement the UMA in determining the amount needed to prove economic solvency. This along with extending the RNE Program should dispel the notion that Mexico only wants wealthy people moving there. If they only wanted wealthy people to qualify for residency they realize that would only exasperate the problem concerning gentrification. By doing this it will lower the amount needed for a resident visa down to around $1500 to $1700us. Buena suerte desde la hermosa Baja!
Guess why the hurdles especially for USAmericans are reasonably high 😂 Hint: More than half of the country has been stolen by the US already 🙄 Hopefully they will ask for proof of language knowledge at least! if you want to be permanent resident - like in Europe.
How is it feels? To apply for a visa not guaranteed in Mexico is a few thousand pesos...and surprised you won't get it, so usa is doing a great business with mexicans!
I am so confused. I’ve seen several RUclips videos that pretty much echo your points here for Mexico. And yet I know Americans living in Mexico who live on their Social Security checks. I have a friend who’s retired in Mexico now and says that this requirement is a smoke screen that can be easily circumvented. You are absolutely right about which Consulate you go to. But what my friends tell me in Mexico is to start the process in a Consulate here and then travel to Mexico City and continue the process within three days. They tell me that there are no financial stability requirements despite the now well-known hurdle. I want to retire in Mexico, but I have a modest income in California that will not meet these requirements.
Of course if you listen to this guy you'll think it's not doable
For those considering expat life, analyze the political stability of the country. I live in Ecuador as we speak, but the country is struggling with gangs, a poor economy, and can't manage its electrical grid as hours of blackouts are now the norm each day. Police and judicial corruption is common around the world, but the country you are considering might be exploitive of people they consider "rich." Like you. Buyer beware.
Paul , you have the highest quality utubes , whether it's general info or language tutoring.
Six years ago, my husband and I were able to obtain our permanente residente in Mexico without a four-year wait period because we are retired and could demonstrate solvency. To begin, we made an appointment at the consulate in Phoenix and completed the process several weeks later in the Mexican city where we own a condo.
More than 10,000 canadian dollars/month for Mexico. This is ridiculous.
And you can't even drink the water there. It is appalling that their requirements are so high and yet can lack in infrastructure in so many areas. Just does not correlate very well. But has the lowest cost of living for most countries
LOL, Mexico is not the country to bother with. Plenty of better, cheaper and safer places in Latin America.
That's not what I heard or read, where are you getting this information? You are more than double what I heard
Every Consulate has different reqs. You need to check with the one closest to you
@@GrandChessboard😅😅😅 namee one, please
I am watching from Costa Rica, my go-to place for quality, inexpensive dental work. I plan to relocate to Mexico in 2025 to retire. The sums you mentioned are likely to go up again!!! in January, 2025.
Awesome easy to understand topic covered better than anyone else. You are true communication guru.
Love the videos Paul. Not sure if you’re aware of the new points system that Mexico will implement going from temp resident to permanent. If you can see if you can find some more information on that and do a video would be great.
Yes, Mexico has a new program. If you're there for 2223 and 21 and now I'm 24. There's a program that I have is gonna have to cost of the income of your residue. Be there you get a temporary pass for resume and you want to pay the high fees requirements in Mexico? This program still run it. It's on RUclips that 1 man mentioned and requirements he played. And he got resident easy route to income resident
@@davidd3211uhmmm…. What??
Hey Paul, as far as I understand it, an NLV (non-lucrative visa) in Spain technically does not allow you to work, even if remotely.
It doesn't. But they have other visas too. I am considering Spain and even though there is a double taxation treaty,, American social security and pensions are taxed, presenting a tax complication one has to consider before wanting to live in Spain. They require private health insurance too and must match the same coverage their public system- and no co-pays. And the company must be on their approved list. Still considering Spain, as I lived there long ago and loved it. And you can drink the water!
Great Video and as I search for a relocation country, my first option was Mexico. I'm glad you mentioned the income requirements because I discovered as you said it really depends on the consulate you visit. Some are a lot less than the "advertised" minimums. I am searching for my best country and some tax your pensions, even with a treaty, and some require private health insurance. Spain requires a no - copay health insurance that matches their public system, and will tax your American pensions even with a tax treaty preventing double taxation (foreign tax credit) so taxes become very complicated. All of this indeed gets complicated and quickly eats into your income, standard of living for that country.
Woe mexican is the top rated for retirement planning and information is very useful for all Americans ❤
Portugal D7 visa. $1,000 in monthly income and pathway to EU citizenship on 5 years
Always enjoy your knowledge and great information 👍
I'm surprised more people don't look at France for a residency visa. The pension income requirement is reasonable (about EUR 1,770/month per person) and they let you use investment account balances in lieu of pension income (generally believed to be about EUR 60,000/person, there doesn't appear to be any official threshold published). The added bonus is that you are able to earn income while living in France with this type of visa. So if you have a consulting business, a private practice of some sort, or earn money through social media content, you won't have to give that up in order to live in France. This is partly because the visa is not a "retirement" visa.
France and the US also evidently have a very generous tax treaty which helps minimize the tax implications of US citizens living abroad in France.
Glad I got permanent residency for Mexico in 2022, it has gone up alot since.
I'll be coming back to this video when I have a moment. Good stuff as usual Paul. Can you do Vietnam? Dude, did you change your channel name or am I having a stroke?
Paul has several YT channels.
@@richshipley I didn't know I subscribed to this one. Could he have renamed the channel?
@ Possible. He also has one for Spanish language, and one with him and Linda, which I think is more about travel.
@@richshipley Awesome. Thanks for the info dude! 💯
When one thinks outside the box, it's possible to see other options that can be good for retirement. In Spain, most people choose the South, but in the North the weather is mild, there's a great cultural offer, social welfare services, and quality of life.
What about social security instead of pension as proof of income?
For foreign countries Social Security *IS* a pension. Pension to them just means an official, steady, lifetime retirement income.
@@elisamdo Thank you for that clarification.
Thanks for asking. I had the same question.
Very interesting, Paul, thank you. I seem to be hearing more Canadians and Americans referencing Columbia.
Paul, good overview. Mexico is an interesting case study. We've been permanent residents here for 7+ years. Back when we applied for our residency the monetary requirements were far lower. It's only been in the past couple of years that they have skyrocketed. I suspect it is because the Mexican government got tired of the massive flow of retirees relying solely on social security heading south of the border. By some estimates there are as many as 1 million US and Canadian retirees living in Mexico. Knowing you lived here for several years as well I'd enjoy hearing your thoughts on the matter.
The mexico consulate site I checked did not list the economic solvency requirements for a temporary resident as either a savings or an income. I did not see the word "or". It is listed as if BOTH are simultaneously required. An income of $4.393 AS WELL AS the savings of approx $72,000. Please clarify this for me. Thanks
Write them directly to get the numbers. Some if their sites are better than others. The Mexican Consulate in San Diego has the most information on their site.
@@qroo Thanks for your response. I did reach another consulate, with a better, more professional website and was far more responsive by email. Incredible the differences between consulates. Thanks again!
I visited Thailand during the Asian Economic Crisis around 2003. I loved it there, but too far from home. One could live like a king with a US pension. Things change. Mexico was cheap seven years ago when I started the process and now I feel like I'm still in the States, financially speaking. I still love Mexico but scratch off "cheap" as a reason to move, at least at this time.
I chose Thailand 20 years ago mainly because it was half a world away from home. The best decision that I’ve ever made!
Hi Paul,
MX temporal resident currently checking out Thailand here. Every country has its pros and cons. Everything is a tradeoff. After my experience marrying a Tica many years ago and US immigration screwing us, I looked at Panama. I went to Guatemala a few months ago too. So far, MX is still the winner for weather but who knows. A lot of it has to do with the people you meet.
We looked at Panama back in the day but it was way too hot for us.
@ As is Thailand but I am looking to do the snowbird thing…6 months here, 6 in MX. It’s still pretty hot here now in December but live-able.
If I want Mexican retirement residency in a couple of year (I’m 60) and my wife is Mexican, is it better to apply for citizenship?
@@Mr.Ed_Wayner You should talk to an immigration specialist when you get to Mexico. They are very reasonable considering what a hassle it can be.
Hey Paul, there’s more things for CR you don’t mention. They also want you to have health insurance. Plus with the 60,000 it can’t get any lower then that number. Check it!
Agree:. I have discovered that some of the health insurance "private" isn't as inexpensive as some claim- but that really depends on the country too.
Paul, Any thoughts on Ecuador and El Salvador? the US dollar is the national currency in both of those countries (Panama also) El Salvador has undergone a dramatic change since the President Bukele has rid the country of the gang members who were in control, and is now one of the safest countries in Latin America.
Ecuador is wonderful, but read about it carefully. Gang violence remains, political turmoil (including assassinations), corruption, electrical blackouts, water rationing, etc. It's an amazing place, if you have the funds, and are relaxed enough to deal with the idiosyncrasy of the systems here.
No, gangs were not in control. only in poor neighborhoods, places retirees would never in their wildest dreams consider to move. Other than that EL salvador could be a good destination if you have the solvency, rent has gone up and land too; western part of San Salvador can be very expensive, with rent for an apartment easily on the 800 to 1500 a month or higher; of course there are cheaper options but in not so fancy districts; beware of expressing political opinions since the country is moving into a dictatorship and some basic rights are suspended , for example anyone with tatoos can become suspicious for authorities, and get arrested. In general, services like water and electricity are decent, no blackouts like other nations in Latam, and water at least in big cities is ok too. I dont think there are any retirement pre requisites only clean records.
@@9mtaurus I've seen many videos recently by youtubers in El Salvador and the changes that have come to that country with the new President. all I can say is it seems to being going in a better direction. I wish them well.
PANAMA AND PHILIPPINES UNDER $1,000./MONTH
I am considering Panama but when looking at Private health insurance for better healthcare, found it to be really expensive. Having said that I am in the beginning stage and need more research. I read a post that the hospitals in Panama close due to staff infections. If that is true or not I don't know, and how old the post was. That too is something I want to know about. It was the same time I was seeking insurance quotes and Panama was the most expensive vs Spain, Philippines, Mexico etc. ) So have to wonder why their private healthcare is expensive.
Just received the Thailand LTR visa.
Awesome! Congrats!
I'm in a country in South America, but it is not as easy to "leave" America as one would think. It depends on the visa type, but none of them are a breeze. The cost of living is fantastic, the amenities, beauty, people, culture...all amazing. But they don't make it easy for you to be here. The attorney costs alone can be in the thousands, and your proof of income, investment, educational credentials, etc are reviewed in microscopic details. If your can't prove you won't be a drain on their economy, you aren't getting in.
I have read the same stories from others regarding leaving the USA. What I also discover is there are a lot of Americans who despise the idea that Americans would be disloyal and "leave America", making rude comments yet they are watching and reading articles about how to leave. Many make comments about how no one is actually leaving , just talk, but expresses ignorance to the fact that it isn't a matter of packing your bags and leaving. Even those of us beginning this journey find all the requirements for different countries like health insurance etc is quite a learning experience and a long process! And after the work is done just hoping as your said "getting in". The consulates alone aren't exactly easy to deal with at least where I live!
Worth mentioning that along with the income requirement in Colombia, you must also accumulate a total of five years time with most types of (M) Migrant class visas (such as the Pension or Investor visas) before you can qualify for residency. (V) Visitor class visas such as the student or digital nomad visas cannot qualify for residency no matter how much time they accumulate.
I didn't know about the Costa Rica residency options! Thanks!
Are you able to get the 180 day visitor visa for Mexico
Most people can. It's what they usually give tourists flying in or at the border crossing. that's 6 months in Mexico. When your time is about to be up, come back to USA for the weekend, then go right back into Mexico and get another 180 days. Yes, it's a hassle to come back, but you don't have to deal with all the ridiculous requierements to get a temp resident Visa in Mexico. Once you are in Mexico, it's very rare that you will ever be asked by anyone to show your tourist permit, Unless! you do something really stupid, like sell drugs, have a car accident, etc. I have never been asked for it in the 25 years I have been going to Mexico.
@williesteele4503 thanks for the info
@@williesteele4503 Will staying for 180 days, leaving for couple of days and coming back into Mexico for another 180 days qualify you as a tax resident of Mexico? That's a big deal!
@@mcp4490 I don't believe it will, because you are not a real resident, just a tourist. You have no temp. or permanant legal status.
Just got approved for a TR Visa. Washington DC.
Do I have to be present in Mexico to make the INM appointment or can I just get all the paperwork done now & then get FMM after entering CDMX?
Any advice would be appreciated!
You will be granted a 30 day FMM when you enter Mexico so you can report to INM in that period of time for section two of the process. Every INM office is different. Some accept appointments and some do not. With the latter, it is first come first served.
@ thank you my friend! I guess I should’ve been a bit clearer is that do I need an FMM to make an appointment?
Or can I just upload it on the site later.
This video provoked us to look into getting a Mexico temporary residency. We meet the income requirements from our in home contracted position. Although our passports expire in July so we probably need to renew those first. Should we be approved for the residency by showing proof of income, do we need to do that each year when we renew until we become permanent? Shouldn’t be a problem to show proof again next year provided nothing changes.
One question, will this include temporary residency for our 10 year old child? Would love for him to eventually obtain residency in Mexico.
The Phoenix Mexican Consulate's recent automated email gave the same numbers as you, BUT the savings route requires 12 months of statements, not 6. Income is only 6. Just finished printing 11 months of them.
Clear and to the point video! 👍
Stay away from Costa Rica, way too expensive 🫰🏼
Do these retirement visas require you to be a certian age?
Panama should def be on your list, way better than most countries you mention
Is it true that Mexico doesn’t require a background check for residency? If they don’t that is concerning.
Thanks for the video. One request: please turn off the baked in close captioning. It is super distracting, in my opinion, and users can turn them on if they like. We can't turn them off if they are embedded.
Thanks for the feedback. It's something new I was trying.
@@qroo
For perspective, I have no problem with the captioning. Hardly noticed it and read along as I watched.
RUclips's captioning is often incorrect so i appeciate you adding accurate captions.
Perhaps it is just me, but I can't take it. Maybe it is an attention thing but do not like. I know this channel is not specifically for my enjoyment only
Mexico requires a lot, as in a double standard for their people to come to the US. It's comical at this point. Philippines is a better option than all of those as far as income requirements, but all of the countries are other good options compared to the US.
I can’t blame Mexico for having standards. Blame the American elite.
@@MrAmhara I would think the influx of Americans and even those that travel across the border for affordable healthcare is putting the hurt on Mexico. but also a lot of Canadians have chosen Mexico as well from what I understand.
How can you leave out two very desirable countries based on their low requirements. Panama requires a little over $1,000 and Paraguay which has no income requirement. Both much better than Mexico. Argentina and Uruguay also have a low requirement. All much better places than Mexico.
I remember watching a youtube by someone else a couple of months ago who mentioned a caveát re depositing anything over $10,000 in a bank in another country besides the US (for US Citizens). He said the IRS will tax you on that money. It's the only country in the world that does that, so he said. Do you know anything about that?
.....and to think The Leamington, Ontario, Canada consulate a few years back had a solvency of under $1000 Canadian per month for temporary residency.
Mexico, I would rather live in Haiti
Seriously? There's no infrastructure in Haiti , it's all been destroyed and it's war torn.... why would you want to live there
I am assuming you mean "household income", not individual?.
Individual. It goes up per dependant.
Expat from st Louis lives in Cali Colombia $1500 a month that's it
If you qualify for the retirement visa and have minimal pension and assets, then Colombia may be a good option. But for higher net worth individuals, they'll get crucified by taxes.
Because of how strong the dollar is the income requirements were reduced to $3800 months ago
Seems like more people would be talking about the bank balance option for financial solvency for Mexican temp residency. I would think a lot more people would have some money in the bank, investments, etc. than having over $4k a month coming in.
Agreed. How can one provide "guaranteed income" from an investment portfolio when values go up and down and not all funds are dividend paying? Unless you have a bonafide pension or annuity, i think just showing the bank/brokerage balance is a simpler approach.
Colombia? Who cares how cheap it is if you’re dead?
Great information thanks so much
Check Peru.
Glad you sad that because I am researching a lot of different countries and sometimes their requirements- private insurance, taxes etc can really affect the net income and the reason for relocation.
Mexico’s income requirement for residency visa is crazy .
How many Mexican citizens earn that much money each month
5% of people ?
My understanding the income requirement for residency is based on the minimum wage of Mexico and that is increasing in 2025 and will affect the minimum income requirement for residency even more. I would think that by inviting higher income individuals that would result in even higher housing costs that the Mexican citizen/ population is already having to contend with. Yet I get why one has to be able to support himself/herself. With the cost of living in Mexico, the minimum requirement feels way out of proportion.
You never mentioned Panama that’s another good option.
How about Belize, Ecuador and the Dominican Republic?
Got our 4 year TR without leaving the country in Mexico in 2021. There's ways to do it without crazy $$$ but of course listening to videos like this all of you will try the 'normal channels'😂
Thank you for sharing.
Love living in Cozumel Mexico
Thanks Paul.
With the new approach from AMLO and now Claudia if a immigrant requests a refugee status it will be granted with a permit to work and they are offered work with the government programs with reforestation and others and it will eventually lead to permanent residency
Thank You 🫶
I don't know how 2 Canadian pensioners can afford the 6100.00 requirement needed but it is getting even worse now and I think it's because a lot of Americans are going to be flooding the borders here and in Mexico come January.
I think Paul is pointing out that it pays to shop around for the different financial solvency requirements and other requirements of the different countries. For example, Mexico has no minimum stay requirements for their temporary and permanent residency permits. Some other countries require that you spend a minimum number of months in the country per year to maintain your resident status (so you can spend more of your money there, putting it into the country's economy).
@sallylee6934
I think you’ll find it’s a trickle in the end. I know a bunch of people with Trump Derangememt Syndrome and they’re just going to stay and grumble.
When you think about it, 12 of the last 16 years in America have been under left-leaning politics (which half the country disagrees with). And the country is in a mess.
So it’s time for the losers this time round to put up and shut up
I REMEMBER WHEN IT WAS $2,600.00
I believe the United States' influence contributes to the high cost of Mexican residency.
Yo ❤ Shared Values Visa 🇷🇺!
1 yr of bank statements now and the money has to be in your account for 1 yr
Holy fuck; "economic solvency"- what a concept! Can you IMAGINE (if) our own country REQUIRED the same of EVERYONE coming in on a visa, asylum, ETC. ??? ALOT of money would be saved!
USA absolutely should require some sort of income for residency.
@@canileaveitblank1476they do.
Yes, the United States has minimum financial requirements for some residency visas:
Green card sponsorship
The minimum income to sponsor a family member or spouse for a green card is 125% of the HHS Poverty Guidelines, or 100% for active duty military. For example, as of August 2024, the minimum income for a household of two is $25,550. The specific income required depends on the HHS Poverty Guidelines, which are updated annually.
K-1 visa
To qualify for a K-1 visa, you must have a stable income and meet the minimum annual earnings requirement. For example, for a household of two, you must make at least $24,650.
E-1 Treaty Trader Visa
This visa is designed for individuals or companies involved in substantial trade between the U.S. and their home country. There is no set investment amount required, but you must demonstrate that your business is actively engaged in international trade.
@@canileaveitblank1476it does for some groups but not others…
It does. Asylum is different, of course. Sponsorship loopholes, illegal entry, etc are outside of that. If you invest enough= green card.
You don’t understand the difference between a visa and a residency permit
We can visit all of these countries without showing any money it’s only to stay past that time
Thailand, hot, humid, crowded, polluted, difficult to obtain long term residency. Not unlike Colombia. Spain is part of the Woke EU, and is very difficult to get long term residency.
2 countries that weren’t on the list that are a more viable option than any of these is 1. Dominican Republic and 2. Philippines. I could make a whole video on both but for retirees these two countries are better options than the destinations mentioned in this video.
DR (as well as other countries, yes I know) has a very high rate of sex trafficking young girls. Do a little bit of searching on the Internet and you'll find a lot of legitimate articles about the sex trade in the Dominican. You couldn't pay me to go back there for a day
México 7000 ?
do colombia
SMART people are doing the RNE run
Come in, get your passport stamped, and leave
Come back next year for a week or 180 days and OVERSTAY, then go to Immigration and get your PERM VISA RNE ! PAINLESS !
why the hell would anyone retire in Mexico if you have to show almost 8000 $ a month. For half that, you could live in the midwest IN THE UNITED STATES. Mexico can go $%^k itself.
These requirements are pretty funny. Considering the U.S. has taken in 50M people in the last 4yrs. Most of them came through Mexico.
Exactly! These countries have under a microscope every penny they will squeeze out of you in taxes and economic gain.
For " Temp Status " In Mexico ...No solvency is required at all ....NONE.
Ummmm, yep. It is. Unless you're hiding until an amnesty program pops up -- which they do. You should review the immigration law and supporting regulations.
Sesame street! 😂
This video provoked us to look into getting a Mexico temporary residency. We meet the income requirements from our in home contracted position. Although our passports expire in July so we probably need to renew those first. Should we be approved for the residency by showing proof of income, do we need to do that each year when we renew until we become permanent? Shouldn’t be a problem to show proof again next year provided nothing changes.
One question, will this include temporary residency for our 10 year old child? Would love for him to eventually obtain residency in Mexico.