Moving to Mexico

Redefine What is Possible
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Moving Furniture and Household Goods to Mexico

Every day you go to new places whether it's a place on the map, in the heart, or in the mind. Sometimes it's just a small change in how you do things. Sometimes it's moving everything to a new country or maybe it's a long plane ride with a short suitcase and a chance to indulge in some therapy shopping when you land. Regardless of how large or small the move, it can be a big leap from where you are now. Let us help you get from where you are to where you want to be. We focus on the stress and bureaucracy of moving. You focus on the debate over what to pack and what to leave behind.

Oh, and don't forget, whatever you need, you can find it here. So, grab your passport and bring your sense of adventure.

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What can I bring with me to Mexico?

Once you have your residency in Mexico, the law allows you to bring all of your household items (furniture, electronics, appliances, clothing, artwork, etc.) so long as you can prove the items are more than six months old at the time they enter Mexico. To take advantage of this, you must bring the items in within six months of gaining residency in Mexico. In essence, you need to buy what you want to bring BEFORE you apply for residency and please, please, please keep the receipts.

Portal de Trámites y Servicios | SAT

Importación Temporal de Vehículos

Healthcare in Mexico

We stay healthy for ourselves. We stay healthy our families and for those who care for us, whether they have two legs or four legs. You can access affordable healthcare in Mexico. Mexican doctors are well trained and Mexican hospitals are well equipped. Finding a healthcare provider you trust is as important as understanding how healthcare is delivered. There are three options.

1. The public health system
IMSS covers mostly everything at little to no cost. You will need residency in Mexico to access the public health system. My family has this as a backup. We pay $500 dollars per year for two adults and two children. This also goes toward a retirement fund. If you are employed, your employer will pay for your IMSS services. The downside? Wait times and wait times. The upside? The same doctors who work in private hospitals work in the IMSS hospitals and clinics.

Note on Medicare: Medicare Advantage, also known as plan C, is a supplemental plan to Medicare parts A and B that covers you in case of emergencies anywhere in the world. Medicare Advantage plans are run through private health insurance companies and are private health insurance plans accepted by Medicare. You will have to pay out of pocket and then apply to Medicare for reimbursement. Keep in mind Medicare may not reimburse you 100%.
2. Private health insurance
This market is just as much of a mafia racket as it is in the United States. The cost for a family of two adults and two children runs between $400 and $2000 per month. The price difference comes with the deductible involved and the policy limits. Most plans have a co-insurance of 10% and deductible of $0-10,000. The higher deductible, the more you pay out of pocket before insurance kicks in.

Example: A hospital ER visit for a mild to moderate food poisoning $300 to $1000 dollars. The more expensive insurance plan ($2000 per month) would cover most, if not all, of your expenses. The least expensive insurance plan ($400 per month) would require you to pay all of that, essentially reimbursing nothing. In other words, the least expensive plan is more of a catastrophic policy than it is health insurance.

Some hospitals have agreements with certain health insurance companies. Your choice of company may depend on the hospital closest to your home or the one you plan on visiting the most. Ask at the reception area in the hospital for which plans, if any, they have on their preferred list.
3. Cash
aka self-insurance. Just hope you don't get sick and don't get into an accident. It's still a good idea to have some kind of coverage. Any actuary will calculate what the odds of you getting sick or injured are based on your age, lifestyle, miles driven, and prior illnesses or injuries. One option to look for is with the hospital directly. Some of them will have packages and plans for basic preventative care that allows you to book appointments faster and cheaper than you would if sought services à la carte.

Mexican Bank Accounts

The ease of opening a bank account in Mexico varies between banks and between branch locations. How you get treated may change from this week to next week. Larger initial deposits allow you access to an individual banker and will speed up the process. The interest rates on low-balance accounts means you end up losing money because of banking fees. Doing transfers from your higher-interest home bank into the Mexican account for monthly expenses is the preferred way to handle day-to-day financial needs.

Steps to opening a bank account in Mexico
1. Passport
2. Current (not older than 90 days) utility bill. Telmex, cable, electricity etc.
3a. Residency card AND RFC (tax ID number from SAT)
or
3b. FMM (form you get in the airport) AND proof of residence from your home country.
4. Have 2,000 pesos on hand before visiting the bank branch of your choice
5. Bring something to read while you're there because you can't use your cell phone
List of Banks in Mexico
FATCA (for US Citizens and Permanent Residents)
The only thing the US Government likes more than its money is your money. In an effort to combat tax evasion, the US Congress passed FATCA. In short, if you are a US Citizen or US Permanent Resident, you have to report any foreign bank account or other financial holding in excess of $10,000. Which seems easy, but it is not. FATCA created an accounting nightmare for some hardworking expats and complicates their relationships with foreign financial institutions. Some banks in Mexico make you fill out the forms and they report the money for you. Other banks don't care. Some banks do an automatic 30% withholding and send it to the IRS on your behalf. Which bank does what seems to change with time and location. If you do not like options at one bank, go to a different one or a different branch.

FATCA forms can be found at
https://www.irs.gov/businesses/corporations/fatca-related-forms
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Ten Safety Tips While Traveling

Through Mexico
  • Maintain situational awareness
  • Wear modest clothing
  • Save the fancy jewelry for weddings and galas
  • Talk about family, food, and sports, not about money
  • Park your car in a parking lot or garage
  • Buy a safe and use it
  • Take different routes and change up your routine
  • Watch out for unscheduled repairmen or utility workers seeking access to your home
  • Backup all your electronics in case of theft or damage
  • Carry a second wallet/billfold with 200 pesos to deal with muggers or corrupt cops
Questions about Moving to Mexico? Let us Help