Comments on: Merida Events: Day of the Dead and More http://www.yucatanliving.com/events/merida-events-3.htm Online magazine about living, working and traveling in Merida and the Yucatan Peninsula in Mexico. Wed, 08 Feb 2012 23:33:23 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Greg Fryer http://www.yucatanliving.com/events/merida-events-3.htm/comment-page-1#comment-60609 Greg Fryer Wed, 05 Nov 2008 23:00:58 +0000 http://www.yucatanliving.com/events/merida-events-3.htm#comment-60609 Copied directly from INM web site regarding financial solvency to qualify for FM3 status. Each consulate gives out differing info regarding funds required to qualify for an FM3. Eventually all will fall in line with INM central office requirements. And live with funds I receive from abroad: If you are already in Mexico and have decided to establish residency here, you must apply for a change of migration status at any National Institute of Migration office (http://www.inami.gob.mx/index.php?page/MEN_DIRECTORIO). In this case, you must submit: * Application for change of migration status to Resident Pensioner. * Passport or valid identification and travel document. * Letter to the National Institute of Migration, in Spanish and with your signature, stating your reasons for wanting to establish residency in Mexico. * Letter from a from Mexican or foreign bank or financial institution or trust proving that you receive sufficient economic resources from abroad and that from such resources, from the yields they produce, or from your investments in Mexico you will obtain a monthly income of US$ 1,500.00 for one year. * This amount will increase by US$ 750.00 for each family member accompanying you. * If a foreign national proves acquisition of real estate intended for his/her own use, such as a house, the National Institute of Migration may authorize reduction of the aforementioned minimum by up to half. Copied directly from INM web site regarding financial solvency to qualify for FM3 status. Each consulate gives out differing info regarding funds required to qualify for an FM3. Eventually all will fall in line with INM central office requirements.

And live with funds I receive from abroad:

If you are already in Mexico and have decided to establish residency here, you must apply for a change of migration status at any National Institute of Migration office (http://www.inami.gob.mx/index.php?page/MEN_DIRECTORIO).

In this case, you must submit:

* Application for change of migration status to Resident Pensioner.

* Passport or valid identification and travel document.

*
Letter to the National Institute of Migration, in Spanish and with your signature, stating your reasons for wanting to establish residency in Mexico.

*
Letter from a from Mexican or foreign bank or financial institution or trust proving that you receive sufficient economic resources from abroad and that from such resources, from the yields they produce, or from your investments in Mexico you will obtain a monthly income of US$ 1,500.00 for one year.

*
This amount will increase by US$ 750.00 for each family member accompanying you.

*
If a foreign national proves acquisition of real estate intended for his/her own use, such as a house, the National Institute of Migration may authorize reduction of the aforementioned minimum by up to half.

]]> By: CasiYucateco http://www.yucatanliving.com/events/merida-events-3.htm/comment-page-1#comment-60379 CasiYucateco Mon, 03 Nov 2008 21:36:05 +0000 http://www.yucatanliving.com/events/merida-events-3.htm#comment-60379 I'd just like to mention that many folks find they've need to pay around $20 US or $200 MX Pesos per day for household help or gardeners. So, a housekeeper and gardener three times a week, would cost you about $40 US per day or $120 US per week or $480 per month -- nearly 3 times the estimate by International Living. (maybe it's a typo?) They also mention property taxes being quite low -- and they are. However, nearly all foreigners will have a fideicomiso which will cost $400 US or $600 US or more per year. That expense isn't mentioned at all. I agree with Greg that there will be more costs in housing - rental or owned - than you can imagine. International Living is a newsletter service, like those newsletters from health advisors or from financial advisors. They provide a "dreamers service" for those who long for foreign places or imagined relief from the cost of living or escape from reality or a change from the rat race. And, undoubtedly, a number of subscribers do find a place in some country or another. But most of the information isn't a secret. Anyone with some curiousity, determination, and a good sniffer for BS can dig up similar information on this and other websites... including official government sites for the cost of an Internet connection. Do it from a public library's Internet and it is all free. The convenience provided by International Living's seminar is worth the nearly one grand fee -- $1000 US -- to some people, but it is not the only way to pack a picnic. I’d just like to mention that many folks find they’ve need to pay around $20 US or $200 MX Pesos per day for household help or gardeners. So, a housekeeper and gardener three times a week, would cost you about $40 US per day or $120 US per week or $480 per month — nearly 3 times the estimate by International Living. (maybe it’s a typo?)

They also mention property taxes being quite low — and they are. However, nearly all foreigners will have a fideicomiso which will cost $400 US or $600 US or more per year. That expense isn’t mentioned at all. I agree with Greg that there will be more costs in housing – rental or owned – than you can imagine.

International Living is a newsletter service, like those newsletters from health advisors or from financial advisors. They provide a “dreamers service” for those who long for foreign places or imagined relief from the cost of living or escape from reality or a change from the rat race. And, undoubtedly, a number of subscribers do find a place in some country or another. But most of the information isn’t a secret.

Anyone with some curiousity, determination, and a good sniffer for BS can dig up similar information on this and other websites… including official government sites for the cost of an Internet connection. Do it from a public library’s Internet and it is all free.

The convenience provided by International Living’s seminar is worth the nearly one grand fee — $1000 US — to some people, but it is not the only way to pack a picnic.

]]> By: Working Gringos http://www.yucatanliving.com/events/merida-events-3.htm/comment-page-1#comment-60376 Working Gringos Mon, 03 Nov 2008 20:47:48 +0000 http://www.yucatanliving.com/events/merida-events-3.htm#comment-60376 Ray, yours are the amounts we have always been told by Immigration here... Ray, yours are the amounts we have always been told by Immigration here…

]]> By: Ray http://www.yucatanliving.com/events/merida-events-3.htm/comment-page-1#comment-60372 Ray Mon, 03 Nov 2008 20:33:47 +0000 http://www.yucatanliving.com/events/merida-events-3.htm#comment-60372 The dollar amounts quoted for living in Mexico seems quite drastically different that any of the Government of Mexico websites, both American and Canadian. These list the primary person requiring an income of $1000 US and a spouse an additional $500. The dollar amounts quoted for living in Mexico seems quite drastically different that any of the Government of Mexico websites, both American and Canadian. These list the primary person requiring an income of $1000 US and a spouse an additional $500.

]]> By: Greg Fryer http://www.yucatanliving.com/events/merida-events-3.htm/comment-page-1#comment-60216 Greg Fryer Sat, 01 Nov 2008 23:18:21 +0000 http://www.yucatanliving.com/events/merida-events-3.htm#comment-60216 I come up with the same figures as Yucatan Dreamer. Look at their budget chart. Two workers (maid and gardener) three time a week at $150.00 dollars a month. Multiply the $150.00 / month, times 12 months, divided by 52 weeks, divided by 6 shifts per week equals $5.77 per shift. I assume these people also don't pay an <em>aguinaldo</em> as well as not paying the Social Security for their workers to use the $150.00 / month figure. It seems rather criminal to be able to spend $250.00 /per month on entertainment but only $150.00 per month for two workers 3 times per week. What is misleading in the article is the idea of "Living like Royalty" on $2,135.00 per month. The figure does not even meet the required amount by the Mexican Government to qualify for FM3 for a couple. INM requires (as of last year) a monthly income of $2250.00 us ($1,500.00 for primary income earner and $750.00 for each dependent). Certainly a couple can live on the figures International Living uses, but hardly like "royalty". What method did these people use in their research to come up with their budget? How many couples did they use as research comparisons. I see no monies budgeted for travel, car insurance, house insurance, FM3 renewal fees or any legal fees, etc. Anyone who has lived here for over two years can attest that house maintenance is much higher than they expected. Maybe if International Living had qualified their monthly budget figures by expressing that the first three years would be a higher cost of living than the figures shown, then the " living like royalty" might not seem so much like "Emperor has no clothes." I come up with the same figures as Yucatan Dreamer. Look at their budget chart. Two workers (maid and gardener) three time a week at $150.00 dollars a month. Multiply the $150.00 / month, times 12 months, divided by 52 weeks, divided by 6 shifts per week equals $5.77 per shift. I assume these people also don’t pay an aguinaldo as well as not paying the Social Security for their workers to use the $150.00 / month figure. It seems rather criminal to be able to spend $250.00 /per month on entertainment but only $150.00 per month for two workers 3 times per week.

What is misleading in the article is the idea of “Living like Royalty” on $2,135.00 per month. The figure does not even meet the required amount by the Mexican Government to qualify for FM3 for a couple. INM requires (as of last year) a monthly income of $2250.00 us ($1,500.00 for primary income earner and $750.00 for each dependent). Certainly a couple can live on the figures International Living uses, but hardly like “royalty”. What method did these people use in their research to come up with their budget? How many couples did they use as research comparisons. I see no monies budgeted for travel, car insurance, house insurance, FM3 renewal fees or any legal fees, etc. Anyone who has lived here for over two years can attest that house maintenance is much higher than they expected. Maybe if International Living had qualified their monthly budget figures by expressing that the first three years would be a higher cost of living than the figures shown, then the ” living like royalty” might not seem so much like “Emperor has no clothes.”

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