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Mexico has it all for retirees

Puerto Vallarta is the second best place to live for pensioners after Algarve (Portugal), while San Miguel de Allende ranks 14.
Living in Puerto Vallarta costs between 1,700 and 2,000 dollars a month on average. (Photo: Archive / EL UNIVERSAL)
05/08/2015
12:07
Leonor Flores
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Puerto Vallarta and San Miguel de Allende compete with cities in Portugal, Belize, France and Colombia among the top 21 destinations for pensioners, according to the Annual Global Retirement Index 2015.

Puerto Vallarta is the second best place to live for retirees after Algarve in Portugal, while San Miguel de Allende ranks 14, below Granada (Nicaragua) and Ambergris Caye (Belize).

Other Latin American locations on the list of the 21 favorite places for pensioners are Medellín, Colombia (6th. place); Cuenca, Ecuador (9th.); El Valle, Panama (10th.); Las Terrenas, Dominican Republic (15th.) and Buenos Aires (19th.).

Pensioners, especially Americans, should consider that Mexico residents pay income tax on all income earned worldwide, while non-residents are taxed only on income earned locally.

Mexico has a treaty with the United States to avoid double taxation and pensions are exempt from taxes. The property tax is between 0.5% and 1.2% and VAT, 16%.

Regarding security, Puerto Vallarta is rated "A" because it has twice the average of police officers and some of them are bilingual to assist tourists, while San Miguel de Allende is rated "C", which means that even if it is perfectly safe to walk in the streets during the day and at night in downtown, there have been cases of theft.

Living in San Miguel de Allende costs between 1,300 and 1,700 dollars a month, while Puerto Vallarta is a little bit more expensive: pensioners spend between 1,700 and 2,000 dollars a month on average.

According to internationaliving.com, "excellent property can still be found for far less than you’d pay in the States. In communities where expats flock, health care is as good as what you’d expect at home, but delivered at a much lower cost, leaving you with plenty of money in your wallet to enjoy the innumerable activities and cultural treasures this large and diverse country has to offer," it adds.

The website adds that Mexico "can cater to a wide range of tastes—whether you’re in search of a quiet getaway or on the hunt for adventure. The country’s large size also affords it a diverse range of climates to accommodate every tolerance of heat, humidity, and rainfall. Good Internet and infrastructure can be found throughout most of the country, and Mexico’s famed cuisine is another much-loved plus. Regular flights to and from the U.S. are also a distinct advantage."

 

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