It could be a hassle: Bank account, visa, lawyers and accountant

Buying a piece of property in Mexico could be a hassle. After many lessons learned, here is what we’ve figured out and that’s why I promised to our future clients on Sensato Living: we will help with an one stop shopping service to save the hassle for you:

1. Bank account:it’s critical to get a bank account in Mexico if you want to buy property in Mexico. Some people got their bank account with their tourist visas. So far we haven’t got any luck on that. But if you are ready to move to Mexico, submit an application for temp visa to Consulate Mexico in your home country. Once you get visa there, you need to go to Mexico immigration office within 30 days to get a residence card. It costs more than $3940 pesos.

2. lawyers and accountant: lawyers and accountants in Mexico usually charge you first before they start the work for you. Most of them require US$ but some accept Pesos. It’s always good to have your bank account in Mexico both in US$ and Peso so you can keep your money in US$ then convert to Peso when needed. The reason is Peso is a very volatile currency and has depreciated quite a few times in the past 10 years. The general sentiment is US$ is a more reliable choice.

We are in the process of getting our visas. Will keep you posted.

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