Today, Mexico is a tremendous residency opportunity thanks to the pesos’ depreciation meaning prices in Mexico remain very low today. Since 2014, the Mexican peso depreciated 50% versus the US dollar, making those spending US dollars there much richer.
A foreign residency gives you more options for work, business, investments, travel and living. It’s one part of a Plan B… in a location where you like spending time.
If you feel safe living in Wyoming’s capital of Cheyenne, you should be comfortable living in Merida, a charming colonial city and capital of the Yucatan state.
And the neighbouring state of Quintana Roo (the home of Cancun) is nearly as safe. The violent crime rate per capita here is comparable to Alaska.
Over 1 million Americans have already cut their cost of living at least by half after moving from the US to Mexico.
Gaining Mexican residency is easy. It especially makes sense if you are already retired. Unlike most countries, many US retirees can apply for permanent residency in Mexico without actually living there first.
The key is to prove you are retired. You can do it with a letter from US Social Security office, retirement letter from your job, etc.
Mexican permanent residency is a great asset. As a permanent resident, you can come and go without any restrictions. You don’t need to apply for additional permissions to invest and work in Mexico.
Also, your permanent residency card does not expire, and there is no need to renew it. Once you have it, it’s yours to keep. And yes, this short-cut permanent residency can lead to Mexican citizenship.