10 Reasons to Move to Mexico In 2025

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V I D E O S    T O    W A T C H    N E X T :


Online Business Tips to Working and Traveling In Mexico: https://www.youtube.com/watch?v=9zGH0voCyOc&list=PLh3xKhkMgH_IA6s3KvB_g9Cc9Ze1eji8j&index=2

Moving to Mexico: 10 Reasons Why We Chose to Live in Guadalajara https://www.youtube.com/watch?v=dK23vD8_xjc&list=PLh3xKhkMgH_LAY7UV78YMgms-f2e1UcwN&index=23

Tips for Moving Overseas: Top 5 Remote Work Skills That Make Money: https://www.youtube.com/watch?v=bFzjCrlNAL8&list=PLh3xKhkMgH_IA6s3KvB_g9Cc9Ze1eji8j


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Transcript

0:37

When most people think about moving to Mexico, they think really nice weather, margaritas. Tacos and lower cost of living. But what if I told you that there are lots more reasons why you might want to consider moving to Mexico in 2025? In this video, I'm gonna be talking about all of that, of course, but also lesser known reasons, more economic reasons as to why you might want to move to Mexico this year. Hi, my name is Amanda Veo. Welcome to Entrepreneur Expat. On this channel we talk about living in Mexico, doing international business, having online businesses. Digital nomadism and so much more. We also interview expats living all over the world, doing business all over the world. So if that's something that you are interested in, make sure to subscribe and hit the notification bell. So you don't want me to say single video that we have coming out on this channel. We are doing our best to bring you guys everything you need to know about moving to Mexico, what's going on in other countries, economic trends. Resources, so on and so forth. Now, if you're interested in moving to Mexico, book a relocation consultation below, we will use that call to assess your specific needs. What kind of city are you into? Are you looking for real estate? Are you looking to invest in a business? What's going on with you? And. Where can we send you in Mexico to fit your needs? And from there we can figure out next steps. So the information for that is below. Okay. Let's get into all the reasons you might want to consider moving to Mexico in 2025. Just like my last video, this is gonna to be a very extensive list. So number one. Tax advantages. Let's talk taxes, y'all. So I did a po, a community post and also a post on Facebook and Instagram, uh, the other day where I shared my experience as a former financial writer. So a lot of you, especially if you're new here, you may not know. Uh, my work history, so back from like 2010 to like 2018, 19, um, I was actually in the financial space and what I did is I wrote a lot of financial content. I did marketing for banking products. I did marketing for FinTech, and I also had a blog where I would review a lot of financial products. I'd get hired as a spokesperson for financial products. I was doing the influencer thing. Uh, back then, and I would also write for financial media companies, and I can tell you without a shadow of a doubt that there are three things, maybe four, that completely kill your ability to build wealth, housing, food. Cars and taxes. So in this one, uh, we're gonna talk about taxes specifically, but Mexico basically hand helps you handle all four of those things economically. So let's talk about taxes. First. So if you are a US citizen, uh, you will not get out of paying taxes completely, if you have a business. You'll have to do payroll taxes and things like that because the US has citizenship based taxation, not residence based taxation. What does that mean? As an American, you get taxed just for being an American. Most other countries, uh, tax you based on how long you are staying in a country. Not the United States, however, right there are tax credits and things that you can use to significantly reduce your taxes by moving overseas. And we'll also talk about why Mexico specifically is a good, uh, tax advantage for for Americans and also Canadians. So with American specifically, you can use the foreign earned income exclusion, the FEIE. Which allows Americans to exclude up to 130,000 US dollars as an individual. Uh, if you're married and filing jointly, that number goes up to 260,000 US dollars. Those are the numbers as of 2025. Um, there's also, if you have your own business or your remote worker or digital nomad, then obviously you can take advantage of a lot of tax deductions as well. Now in order to take advantage. Of this, then you need to either meet a physical presence test, which means that you are outside of the United States 330 days for every 12 month period, or the bonafide residence test. Okay? So that's one advantage. Now let's talk about the tax advantages of Mexico specifically. So let's say you're American. You've already cut your taxes through the foreign earned income exclusion. Well, guess what? Mexico does not tax you on the income that is generated. Outside of Mexico. So if all your clients are American or Canadian or European, or you're making all your money from some other country, it's not subject to Mexican taxes in addition to that, right? Those of you who are on social security or you have 401k or you have investment accounts or pensions, those are also not tax. In Mexico, uh, there's also double tax treaties with the US which would prevent double taxation, and there's reduced withholding on taxes, dividends, interest, royalties, et cetera. So it is a pretty freaking good tax deal. It's actually one of the reasons why Justin, uh, decided to leave Columbia and make his next stop. Mexico because Mexico had a better tax deal. So we're not accountants, but we do work with a lot of them and a lot of lawyers. So we have it on pretty good authority. If, uh, part of what we do as a part of our relocation services is we will connect you with, uh, lawyers here in Mexico, also in the United States if necessary, if you do business in the two countries. Uh, but we'll also connect you with accountants who understand this because what a lot of people don't realize is that. It's not the easiest thing in the world to find American accountants who are willing to do taxes for expats, but we've already been doing that digging for you, and we already have a network, so it's a part of us helping you with your relocation. An accountant comes with that to help you take advantage. Of these tax benefits. Now let's talk about cost of living, right? Because one of the other things that eats away your wealth is basically cost of living. So in Mexico you have a lot more housing affordability. Uh, the rent is. You know, 60 to 75% lower than it is in the United States. So that's a very interesting to note. Home purchase prices started around 200,000 USD that would cost significantly more in the United States. We recently had our, one of our real estate experts. Uh, she handles more Busia and the Vata area. So if you're interested in Busia and Vata, we're probably sending you to her once you have one of the consultations. Uh, but she's, she's been a real estate investor in Canada, and she's a real estate investor here in Mexico. Um, and she tells us, for example, you can oftentimes find better assets in Mexico than in the us. What, what is an example of that? Okay, well, the stuff in Mexico is made out of concrete, not wood. What did we just see happen? In Los Angeles in January. I mean, that doesn't happen in Mexico because everything's built outta concrete. In fact, a lot of Mexicans are like, why are the houses in the US built out of wood? That doesn't make any sense, um, at all. Uh, in addition to housing, you have much lower property taxes. Here and you have much lower maintenance costs. If you wanna build, if you need to fix something, the labor costs, uh, are a lot lower. You can also find a lot of luxury real estate in Mexico. We're gonna start doing some luxury real estate tours for you guys'cause it's really fun, uh, for us and also for you. And those are available at a fraction, uh, of us prices. Daily expenses. You know, overall cost of living is about 60% cheaper than in the us. We live pretty freaking well on$2,000 a month here. Uh, food bills are approximately half. I would agree with that. It's approximately half of the United States. Restaurants are not as expensive as they are in the United States. Utilities and services are more affordable. My cell phone plan is like 10 bucks here in Mexico. Uh, domestic help and services are also more easily accessible, um, in the United States and Canada. Like people, either it's too expensive or like they look at you funny or they look at you sideways for having domestic health and services. But if you're a successful person and you're running businesses like. You don't have time, so you have to hire people to do those things. And those are definitely more accessible and more affordable and more accepted, uh, here in Mexico Healthcare, oh, I should have added that to the list. Healthcare is the other thing that eats at your wealth. Um, in the United States, so high quality healthcare is approximately 50% lower in Mexico than in the us. Uh, private health insurance is a bit more expensive in Mexico than other parts of Latin America, but it's not crazy. Like it is in the United States. Someone recently commented that they're paying a thousand dollars a month in health insurance in the United States, and they're healthy. And not only are they paying a thousand dollars a month, they've been waiting in eternity to go meet their new doctor. That is not happening here. Uh, I think, uh, for each of us, for insurance, we're paying like a hundred,$110 a month, and a lot of stuff you just pay for out of pocket here. Um, in addition to that, transportation is a lot cheaper if you're using public transportation. It's about a hundred dollars, uh, a month. I've talked about this before. If you are a city dweller like we are, you don't even need a car. You pretty much just walk everywhere. We have a car mostly for day trips. It's pretty much the only reason why we have a car and for road tripping and experiencing new things. But in terms of daily life, we don't, we don't use it like we don't use it at all. Uh, I think maybe we've used it once in the last couple months'cause we took a trip to, to chip for my birthday. Uh, there's a lot of business and investment opportunities here in Mexico, so that might be another reason why you're interested in Mexico in 2025. I recently did a video on the economic outlook. For Mexico and the economic trends that we're seeing in Mexico. So I'll make sure to leave that down below because there's so much going on here that it would be impossible for me to put it in this particular video. So I'm leaving it below for you guys in case you haven't seen it yet. Of course, lifestyle and quality of life is one of the main reasons why people love to move to Mexico. Let's be real quality of life in the US and Canada is not that great and in some parts of Western Europe it's also. Not that great. Uh, at the moment, uh, in Mexico, you do have a much better work life balance. Culturally, it's different here, right? So in the, I'm born and raised in the United States, but I'm Latina, that's my background. So I always had to live between these two worlds where it was like. Go, go, go. Hustle, hustle, hustle. And there's a part of that that's good, right? Like entrepreneur expat wouldn't even exist as a business opportunity if there wasn't a little bit of that, right? So on the one hand it's good, but on the other hand it's like terrible because all the only thing anybody does. In the United States is work. Uh, and it's also a very isolating country. Mexico's kind of the opposite, right? Like Mexicans work very hard, but they also put a very high priority on family, on social connections, on hobbies, on having more of a work life balance. They tend to figure that out here a little bit more. And what's interesting about Mexico is they have that, but at the same time it's like booming economically. So it's one of those things where it's like, oh, okay, so you can. Have both worlds where you're like working and it's booming economically and there's tons of economic opportunity and there's actual work life balance. Okay. Mexico, I see you. So that's, uh, something else. Um, if Mexico, and this might be a reason to consider Mexico in 2025, is considered a soft landing. For a lot of Americans, Canadians, and Western Europeans who are looking to either move abroad for the first time, or they are interested in global citizenship and then they make Mexico like their first stop, uh, in that journey before moving on and going off to other countries. So currently there's 1.6 million Americans that now live in Mexico. That's according to the US State Department. I imagine it's a lot more than that because when I had to go renew my immigration, uh, card, my residency card. Uh, at the end of last year, I swear, the Americans and Canadians multiplied. They multiplied from one year to the next. And this would be why there's actually been a 70% increase in US citizens living in Mexico from 2019 to 2022. Uh, part of the reason why is because you have people from California and New York. Uh, and places that were really, really intense and locked down a lot during covid being like, f that I'm going to Mexico, because Mexico was, uh, pretty open and more chilled out about the whole pandemic. And then that ended up working in Mexico's. Favor. Uh, there's large communities of Americans in popular destinations, so, and there's lots of those popular destinations. We have another video on the most popular locations for expats, uh, in Mexico. We're in Guadalajara, so there's like less Americans and foreigners here than perhaps Mexico City or Puerto Vallarta, or Busia is definitely less than what we see in Chapala. About an hour, hour and a half from here, uh, Cancun, so on and so forth. However, the Americans have started to discover Guadalajara because every time I come onto YouTube, there's more Americans announcing that they're moving here. Um, there's built in social networks and support systems for the expats, so that's very helpful because if you're moving to another country, sometimes you need those support systems, especially if you don't speak the language yet. Justin and I didn't have that problem because we both spoke Spanish, uh, fluently, and I'm Latina. So like it wasn't, it wasn't a shock to the system, like we could integrate a lot more easily, but if you are not there yet, then the fact that there's built in social networks and support systems would be very helpful for you. We get this question a lot about whether or not you can survive in Mexico, uh, on English, and the answer is yes, if you stay in the expat communities, of course. Learn Spanish, right? It's gonna make your life, uh, a whole lot easier. And in urban areas, a lot of Mexicans are bilingual, so it helps also make that transition a lot easier. But we do recommend learning Spanish. You know, you can use stuff like Duolingo. Uh, there's language exchanges. We know for sure here in GU Hot Up if there's language exchange meetups. Uh, where people are learning multiple languages and that's pretty fun to go meet people and also learn new languages. Uh, but really the best way to learn a language is basically what Justin did when he moved to Columbia. And it was just immerse yourself in it, force yourself to do it, uh, is kind of the best way to do it. Um, the Mexico is also just practical. If you are American or Canadian, right. Uh, I've said this, I said this on a post recently, and a lot of people thought it was a very good point, which was that it's, you know, Spanish is easier to learn than Thai. Right? Uh, and moving to Mexico isn't as much of a culture shock as perhaps moving to Asia. For, uh, a Westerner. Um, you know, we do have plans to go to Asia eventually. We're just not there yet. Uh, that's a few, few. That's some miles down the road if we end up living, um, in Asia. And there's actually some advantages to being in Latin America versus Asia, which I will get to as well for those of you who are interested in Mexico. But let's talk about why it's just practical. First, so number one, proximity to the us. A lot of you have family that you need, you're concerned about. You need to be able to go back and forth very quickly. You have business interests in, uh, US or Canada. So you need to be able to be kind of mobile and move back and forth. Uh, in that sense, you can get flights to all major US and Canadian city, uh, cities from Mexico, no problem. Visa and residency is pretty straightforward in Mexico, especially in comparison to a lot of other countries. So, um, there's multiple pathways to get legal residency. We've done other videos on that. The temporary resident, which is what we have for now because we weren't retirement age is valid for up to four years. You have permanent resident visa for those planning to stay indefinitely. It is a relatively straightforward application process in comparison to other countries. Uh, it is getting more. I don't wanna say complicated, right? But there's a lot of demand on people trying to come into Mexico right now. So what we recommend is hiring people like us who are connected to immigration attorneys and things like that, and have already been through the process, and we can help you with it. Um, because trying to do it by yourself is. A lot, especially with all the changes and flux and everything going on, uh, between the US and Mexico and Canada because uh, as someone brought up the other day on a podcast I was listening to, both the US and Mexico are going through like big systems changes right now. And you're obviously seeing that in a lot of the immigration stuff that's happening in Mexico. You can also become a naturalized citizen. So this is actually one of the big differences between Latin America and Asia. Those of you who are interested in second passports, uh, you're in that type of world and global citizenship, a lot easier to do that in Latin America. In the Americas, they have the culture that everybody's from somewhere else, and there's been a lot of immigration and there's a lot of mixing of cultures and things like that, which is not as. Prevalent in other parts of the world. So in the Americas, uh, it is very easy to become a naturalized citizen for those of you, or at least straightforward. For those of you who are interested in second passports, good luck getting a second passport from Asia. As a naturalized citizen, it ain't gonna happen, so that might be another reason. Uh, to consider Mexico. Um, if you work remotely, again, it's just freaking practical. You're on the same time zone. The infrastructure is available in Mexico. There's lots of digital nomads in Mexico. So the infrastructure and technology are here, uh, will support you in continuing to work. Safety and security. This comes up a lot in the questions section. Uh, they're like, is Mexico safe? Right? Because you hear about. Certain groups of people causing problems to put it that way. And, uh, the violence and the US media, of course, does not help, uh, in that regard.'cause they focus on like literally the worst stuff, uh, that is going on. And it's not happening all over Mexico, it's happening in certain parts of Mexico. It does not typically involve. Uh, civilians or tourists, or foreigners, uh, it's, you know, it's cartel wars. It's the cartels against each other and the government. That's basically what it is. But it does not typically involve citizens or foreigners or tourists or anything like that. You know where the hotspots are to avoid, just don't go there. Just don't go there, and your life is totally fine and don't get involved in things you shouldn't be involved in. And your life will be fine here. Uh, but let's talk about some stats in terms of safety and security. So popular expat destinations, fly, garment, uh, places like that. They have comparable safety to US cities. In fact, some Mexican cities actually have lower crime rates than some US cities. Right now, government actually has lower crime rates than a lot of US cities. Uh, right now you also have gated communities and secure housing options. There's private security services readily available. There's growing middle class neighborhoods with good security. I'll give you an example. We're probably in like an upper middle class neighborhood right now. I guess I would say it that way. Um. Yeah, maybe, maybe I'm a little bit wrong. Maybe it's a little bit higher than that. Um, but let's just put it that way for now. There's two private security and police, and the police chief is in the neighborhood. Watch WhatsApp. Like nothing goes down here. Nothing, nothing goes down here. Uh, I feel super safe walking daisy at night. Now, in some areas like Ana, I'm in Guadalajara. There's a lot of expats there. There's more like petty crying. Perhaps in areas where there's, there's expats, but like crazy violent crime, you're not seeing much of that in, in these areas. And also the crime is targeted. Um, you have to be, usually you have to be involved in stuff that you should not have been involved in, uh, in Mexico, whereas in the United States, violent crime is. Completely random. So, so take that into, uh, consideration. There's also improving safety conditions in major tourists and business centers. Uh, one thing that we're Mexico is very clear about is that it likes to make money. So in the areas where money is being made, uh, they tend to keep clean it up, uh, pretty. Well, um, I already talked about emerging trends and the future outlook of Mexico. I did a whole other video on that, that you guys can check out. I will leave that in the comments section below, uh, in, yeah, in the comments section and also in the description below for you guys, because just the emerging trends, the economic outlook. The economic trends, the future outlook of Mexico that merits its own video, which I already did, and you can find that below. So again, if you guys are interested in relocating to Mexico, maybe having it as a second. Residency option that eventually you can turn into a citizenship. If you're interested in real estate here in Mexico, please book a move to Mexico consultation. Call below. On that call, what we're gonna do is we're gonna determine what your specific needs are, and then from there we're gonna create a game plan for you, because some of you are gonna be in a position where you got to handle some stuff in the United States or Canada first. So for example, particularly for taxes. Some of you might be in a position where you have to de domicile yourself from a state like California, which will screw you in taxes. So maybe that's part one of your plan. Others of you're just ready to go, right? Others of you're like, I got my investment money. I already handled all that stuff. I need to go find some real estate. Or I wanna go tour, go to do a tour of Guadalajara or Bus or Mexico City or whatever. We got you. So book that call below so we can get clear on what that next step is. For you and if you wanna get a free taste of what we're able to do for you, make sure to download our Moving to Mexico Guide. It's totally free and it will add you to our newsletter. So you'll get email updates from US weekly. You'll know exactly when we have new videos out. We'll do more stuff on economic outlooks, things like that. Uh, properties that we find available for sales when we're doing tours, events. All of it. Email list is going to find out first. So if you sign up for our free Moving to Mexico Guide, you'll automatically get added to that list. Thank you so much for giving me your time today, and I'll catch you guys on the next one.