Living in Mexico
Puerto Vallarta’s sandy beaches, blue skies, palm trees, Mexican architecture, and tropical climate will seduce you, and the remarkably affordable cost of living and quality lifestyle entices you to stay. With extensive infrastructure, safe investment, ease of access, and an established expatriate community Puerto Vallarta has become one of the most attractive options for foreign property investment. You will find a cosmopolitan lifestyle with small town charm and friendliness. Whether you enjoy exploring the lush jungles, a day on the beach, or strolling along the quaint cobblestone streets, Puerto Vallarta and its surroundings have everything you could want including adventures, clubs, charitable opportunities, schools and universities, restaurants, and markets along with all the wonders of living near the Pacific Ocean.
As one of the most beautiful and safest cities in Mexico, Puerto Vallarta has become a haven for foreign property investors looking to find a tranquil retreat to call home. From the grandeur of our spacious Villas, to the charming Spanish colonial homes , few places rival Puerto Vallarta in architectural variety and charm and Timothy Real Estate Group can help you find your perfect Mexican home.
Throughout the week, the Malecon, plazas, and galleries offer countless events including music, dance, theater, youth concerts, exhibitions and other special events. These are usually held within walking distance of the Los Arcos Plaza which forms the heart of Puerto Vallarta’s downtown area.
The enthusiasm for property ownership along the Mexican Riviera has reached new levels for the private property investor. Property taxes are minimal compared to the U.S. and Canada. They are usually about $100 USD a year for every $100,000 USD of your property’s value. A $500,000 USD condominium would pay approximately $500 USD a year in property taxes, and if you pay before February 15th of each year you receive a 15% discount.
In short the standard and quality of living is high. Puerto Vallarta’s International Airport provides non-stop service to most Mexican and US destinations and offers connections to Europe. Local transportation is efficient and Puerto Vallarta is a clean community. The city is well served with wireless, cellular and high speed communications and internet capabilities. Healthcare is on par with the USA, Canada, and Europe and many of the doctors are United States trained. Most of the facilities are state of the art but costs are much less than elsewhere.
Here in Puerto Vallarta you can find sophistication, a safe cosmopolitan town, and you can own a beautiful home with amenities that you may not be able to enjoy in another destination, all with a wonderful quality of life. So if you are looking for a wonderful lifestyle, a secure investment, and year round blue skies then purchasing a home in Puerto Vallarta may be the right investment opportunity for you. See a Timothy Real Estate Group representative for details.
The country of Mexico has designated a number of different statuses for foreign visitors; there are three statuses that generally relate to real property home buyers. These statuses are different for the specific situations of the foreign visitor.
The changes to immigration law initiated by the Mexican government were made in May 2011 and these changes came into effect in November 2012.
The first and most basic visa is the TOURIST CARD or TOURIST VISA, this is the standard tourist form required by all persons entering the country that allows visitors to remain in the country for up to six months without working. This Tourist Card is easily renewed by simply leaving México within the six month period and then returning.
The second type of designation is the TEMPORARY RESIDENT VISA which is designed for the visitor who wants to live in México more than 180 days. You will need four years of temporary residency status first however. The “Temporary Resident Visa” is recommended for those who choose to own property in México. After four years it can be converted into a “Permanent Resident Visa”. This visa allows you to stay in Mexico for as long as you like without a restriction on foreign travel.
An individual with the “Temporary Resident Visa” status is allowed to own foreign-plated vehicles, and operate them in México as long as the vehicle is registered with the “Temporary Resident Visa” upon entry into México.
The third type of designation is the PERMANET RESIDENT VISA. After four years of successfully meeting the requirements of “Temporary Resident Visa”, including time outside of México, you may apply for “Permanent Resident Visa” status which allows you to enjoy most of the rights of a Mexican Citizen, with the exception of the right to vote. This visa status does not require you to give up your native citizenship and holders may freely work and remain in México without annual renewals of any immigration papers. This is also recommended for real property owners.
You cannot have a foreign plated vehicle in Mexico under this “Permanent Resident Visa” status.
You must inform the INM (Immigration) of the following changes within 90 days of their occurrence:
- Address change
- Change of employment
- Change in martial status
- Change in citizenship
For most people, the “Temporary Resident Visa” status is the most practical status for part time residents. It is obtained more quickly than the “Permanent Resident Visa”. Many “Permanent Resident Visa” applicants use professional help in completing the forms and required paperwork.
Privileges are the same for both “Temporary Resident Visa” and “Permanent Resident Visa”, holders; however, “Permanent Resident Visa” and “Temporary Resident Visa” holders must return a foreign plated automobile to outside of México, as they cannot drive foreign plated automobiles within the country. With both types of Visas you are free to come and go from México anytime as you please. Please check with the Foreign Affairs Department of Mexico regarding any changes to the rules regarding automobiles as they seem to change often.
TEMPORARY AND PERMANENT RESIDENT WORK PERMIT
Holders of a temporary resident visas may be allowed to work in Mexico but they require a work permit. The work permit is not a separate document. It is a change to your activity status on your visa.
Permanent Residents have the right to work in Mexico.
To get a work permit you need to submit a letter with your application, which states what type of work you want to do.
Timothy Real Estate Group recommends you visit your local Mexican consulate to verify the processes for any of the above mentioned. You can also visit Mexican Requirements for Immigration for more detailed information.
Puerto Vallarta boasts several modern hospitals and health care facilities with the several excellent options being CMQ Hosptial, San Javier Hospital, Ameri Med Hospital, and Medasist Hospital to name a few. All facilities have bi-lingual doctors on staff and accept United States issued health insurance. In addition Ameri Med Trauma Center offers U.S. trained paramedic personnel in their ambulances as well as U.S. medical staff on duty with twenty-four hour notice. There are also air evacuation services available to metropolitan city centers in Guadalajara, Mexico City, and the United States.
In addition to several beautiful Catholic Chapels, there are also weekly English services at the Church of Jesus Christ of Latter Day Saints, the First Baptist Church, Jehovah´s Witness, Baha´i Faith and the New Sunrise Christian Center, among others. There is also a large and growing Jewish community.