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Day to Day Living in Mexico

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Day to Day Living in Mexico

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Day-to-day Living in Mexico

Although English is widely spoken in tourist areas and resorts in Mexico, it is essential to learn Spanish in order to survive day-to-day living in Mexico because the locals won't necessarily speak English.

In Mexico, there is a slower pace of life and there are many cultural differences to adapt to, it has a very different lifestyle to that of Britain. Family also plays an important part in the life of Mexicans, as does religion.

The cost of living is generally cheaper in Mexico and now low-cost airlines are starting to have a significant effect on air-travel prices in Mexico, which have previously been relatively expensive. However, utilities are more expensive in Mexico due to the lack of competition, so electricity and telephone usage have fairly high prices in comparison with Europe and America.

Many Mexicans tend to buy bottled water because of the poor water system that does not always guarantee drinkable water. Bottled water is comparatively expensive so be aware of this.

Gasoline and diesel is currently subsidized by the Mexican government, because of the oil trade in the country but it is unknown how long this will last. Prices of gasoline and diesel don't vary as much as the U.S. and Europe as a result.

The majority of economic activity occurs in Mexico City, so compared with the rest of Mexico, living in the capital is relatively expensive. It is clear that many successful examples of people having moved to Mexico have achieved that success and happiness by embracing the culture and lifestyle of Mexico so it advisable that you integrate yourself fully in Mexican community and life in order to achieve the same.

Property

Direct ownership of real estate by foreigners is prohibited in the "Restricted Zone" in Mexico. The Restricted Zone includes all land located within 100 kilometres (about 62 miles) of any Mexican border, and within 50 kilometres (about 31 miles) of any Mexican coastline. However, the government in Mexico is aware of the importance of capitalising on foreign investment so they created the "fideicomiso," which means in simple terms, a real estate trust agreement. A Mexican bank is established as the trustee, and official owner of the property. The fideicomiso was created so that foreign investors would be able to benefit from usage of unrestricted land without breaking the law. The agreement occurs between a Mexican bank and the seller of the property, when dealing with a property situated in the aforementioned restricted zone. The bank, as trustee for the foreign investor, buys the property for them. This works in the favour of the foreign investor, as they retain and benefit from all the rights of ownership while the bank holds title to the property. The foreigner is even permitted to sell the property at its market value, even though it is held in title officially by the bank. The FIL states that by creating a bank trust (a fideicomiso), foreigners can obtain the rights of ownership within the Restricted Zone. These rights of ownership means that foreigners can use, improve upon, rent or even sell their property as if they directly owned the property.

Foreign investors looking to buy property in Mexico must initially apply for and gain a permit from the Ministry of Foreign Affairs, or the SRE (The Secretaria de Relaciones Exteriores). It is essential to gain permission from the Ministry of Foreign Affairs before you enter into a contract. For commercial property, another way to invest is to buy the property through a Mexican corporation. A foreigner is able to own 100% of the corporation as long as they agree to be subject exclusively to Mexican Law, depending on the type of business.

Public Holidays

  • The following are the official public holidays of Mexico: (2008)
  • January 1st New Years Day
  • February 4th Constitution Day
  • March 21st Birthday of Benito Jurez
  • March 23rd Good Friday
  • March 24th Easter Monday
  • May 1st Labour Day
  • May 26th Late May Bank Holiday
  • May 27th HM the Queen's Birthday
  • September 16th Independence Day
  • November 3rd All Souls Day
  • November 17th Revolution Day
  • December 24th Christmas Eve
  • December 25thChristmas Day
  • December 26th Boxing Day

 

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Organisations that can assist with Day to Day Living

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