Retiring in Mexico
Retiring in Mexico comes with its own set of advantages and disadvantages. On the plus side, Mexico has a low tax burden, with taxes averaging just 3.4% of its GDP. This means retirees can expect to have more disposable income compared to the USA.
However, the downside of low taxation is that Mexico’s public healthcare system is underfunded, ranking among the lowest in spending among developed countries. Despite this, obtaining a retirement visa is straightforward, requiring only an application, proof of financial stability, and an interview with a consulate officer. Retirees can bypass the temporary residency process and become permanent residents directly.