Any retirees among us?

Discussion in 'Living in Cancun' started by V, Sep 3, 2012.

  1. V

    V I can choose my own title Registered Member

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    When I think about the people I know who post to this forum there's not one of them that is not either working full time or aspiring to it, or actively and directly engaged in making more money through business, or managed investments. There doesn't seem to be much of a retirement community represented here, and if my impression was all there was to go on, I'd say there is not much of one residing in Cancun.

    If there are a lot of retirees around here, where are they, and where do they tend to hang out? To me, they are invisible: I met my first, bona fide retiree on Saturday. He plays golf five days a week, and does nothing else.

    I contrast this with places like San Miguel de Allende, which has a highly visible, in your face, retirement community. What's up with Cancun, in this regard? I'm reminded of the recent poster who was asking about volunteer opps here: in San Miguel he'd have no shortage of them, a very active retirement community having created scores of community service projects in the last twenty years or so.
     
  2. Steve

    Steve Administrator Owner

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    There doesn't seem to be that many retirees in Cancun, at least who I know personally. Our neighbours Tom and Suzie from Chicago (CancunTom) are retirees though and probably the only ones I know.

    I think part of it is an Internet demographic thing and forums such as this are just not so habit forming to the 60+ age group in general.
     
  3. Steve

    Steve Administrator Owner

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    Isn't that great though! The foreigners that come to Cancun want to work, want to contribute and expect nothing in return except some sunshine and a day off a week. :)

    Puzzles me why Mexico still makes it so hard for foreigners to live here, when there are so many that want to give and so few that want to take.
     
  4. V

    V I can choose my own title Registered Member

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    Same here. Maybe if we golfed, Steve, it would be different!

    This is an impression based on personal experience, plus reports of others who have encountered difficulties at some point, I expect.

    However, I've lived in residence status in six different countries: none were so easy to establish that status as Mexico is: all of them required annual renewals of the residence permit, and none was easier to get a renewal of that status than Mexico is. Residence status is tougher to achieve in the U.S. than in any of the six.

    Difficulties people have reported on this forum were in almost every case due to some procedural issue, and avoidable if the process is understood well enough, and sufficient detail applied to getting the documentation requirements together: that's not easy, but it's doable, and when it's done the process can go surprisingly well.

    I'm not aware of any country that has established this as the lone standard for permitting permanent immigration.

    Mexico has as little reason to throw open the gates to those who would take Mexican jobs, but Mexico welcomes those who do not come seeking jobs- those who wish to establish businesses, or invest in the economy of Mexico, for example- and even a good number of those seeking jobs, but with some limitations on the later.

    For retirees, Mexico has set the bar about as low as I can imagine, requiring proof of just $1,000 or so USD income or other resources from abroad to qualify for residence.

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    Last edited: Sep 5, 2012
  5. sciack

    sciack Enthusiast Registered Member

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    Hi!

    Oh well, so I will be a retiree when I come, I will not work in Mexico, but I am sorry I am quiet young, just 35 yo... And I hate golf... But I am a divemaster and willing to have a nice time there...
     
  6. V

    V I can choose my own title Registered Member

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    I don't know if you're planning to stay in Mexico for the mid term, but the option of starting a dive business, or other related business, is always open. There are few legal restrictions on foreigners, especially those from NAFTA countries, starting businesses here.
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    The residence category, No Inmigrante, Visitante Rentista, is often thought of as a visa limited to retirees, but there is no such restriction, and the word "rentista" simply means having wealth.

    Anyone may get this visa who can demonstrate sufficient resources to be financially self-sufficient, on resources coming from abroad. Many do this by showing a bank account, with a sufficient balance, from which they are making withdrawals or intend to make withdrawals on which to live in Mexico.
     
  7. sciack

    sciack Enthusiast Registered Member

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    The rentista thing is interesting. I have a Thai bank account will it be enough? But all the statements are written in Thai/English and showing money in Thai baht... Will they know how to calculate the exchange rate? Or will it be easier just to open a new account in Mexico and wire transfer on it a certain amount in usd?

    Thanks
     
  8. Steve

    Steve Administrator Owner

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    I'm in a similar situation since my accounts are in the UK and statements in Pounds. You'll need to get an authenticated translation done, fairly easy if in English but not so easy if in Thai I'd guess.

    It may have changed since we did it years ago, but I think you'll need your Visa in order to open a bank account.
     
  9. sciack

    sciack Enthusiast Registered Member

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    Hi Steve, thank you, that is what I thought actually... I have another account offshore, if I show them some money on that one in usd? Will it be enough? Thank you..
     
  10. V

    V I can choose my own title Registered Member

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    If I were single, I´d be confident of the amount if it was at least 20,000 USD, though posters have said on this forum that they got theirs approved with less. It has to start its journey abroad, though wire transfers into Mexican bank accounts that are so designated in the statements will satisfy the requirement that you support yourself with resources from abroad.


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    Last edited: Sep 7, 2012
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