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This quick-reference overview covers the key numbers and practical details for Mexico—tax ranges, property purchase considerations, and rules that may affect foreign buyers and expats. It’s a useful snapshot for anyone comparing Mexico to other relocation options.
Mexico, formally known as Estados Unidos Mexicanos (United Mexican States), is a country with rich traditions and a strong culture.
Most importantly, Mexico has the 10th largest population in the world and is the 13th largest country in terms of total land area.
Another interesting facts about Mexico: It’s the country which introduced the world to chocolate. Plus, Spanish is the national language of Mexico. However, over 50 different indigenous languages are spoken.
Reviewed By Kathleen Peddicord
Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
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|
Information Type |
Mexico Data |
|---|---|
|
Population
|
130,861,007 people (Sept. 2024) |
|
Currency |
Mexican Peso (MXN) |
|
Exchange Rate Versus U.S. Dollar |
19.82 pesos per U.S. dollar (Sept. 2024) |
|
Languages |
Spanish, Indigenous languages |
|
Capital |
Mexico City |
|
Population of Capital City |
22.51 million (metropolitan area, Sept. 2024) |
|
Time Zone |
GMT – 6 |
|
Seasons |
Coasts: hot and humid. Inland: dry and warm year-round. |
|
International Dialing Code |
52 |
|
Electricity |
127V / 60 Hz. Plug Type: A, B (US style) |
|
System of Government |
Federal Republic |
|
Current Leader |
President Andres Manuel Lopez Obrador (since 2018) |
| Income Tax Rate for Residents | Progressive up to 35% |
|
Property Tax |
1% to 5% |
|
Capital Gains Tax |
0 to 10% |
|
Inheritance Tax |
0% |
|
Rental Income Tax |
Taxed as regular income |
|
Transfer Tax |
2% to 5% |
|
Sales Tax |
0 to 16% |
|
Restrictions on Foreign Ownership of Property |
For property 50 km from ocean or 100 km international border, foreigners must own through a bank trust. |
|
Local Chamber of Commerce |
www.ccmexico.com.mx Paseo de la Reforma 4206048 MEXICO, D.F.Tel: 52-5-3685-2269 |
|
American Chamber of Commerce |
www.amcham.org.mx
Mexico City Blas Pascal 205, 3.er pisoCol. Los Morales 11510 Mexico City Tel: 52-55-5141-3800 |
|
Primary Exports |
Manufactured goods, oil and oil products, silver, fruits, cotton, vegetables, coffee. |
| Tourist Visa: If you’re visiting Mexico as a tourist you don’t need a visa, but you do need a tourist card, which you can get on arrival by completing an immigration form available at border crossings or on-board flights to Mexico. Tourists and business visitors can stay in Mexico for up to 180 days.
Residency: Mexico operates what is known as a Temporary Resident Visa, intended for people who wish to live in Mexico for more than six months and not longer than four years. The Temporary Resident Visa is a renewable long term (more than six months) permit which gives non-immigrant temporary residency status to the holder. Citizenship: After residency of a continual five years with an immigrant visa. |
|
|
Special Benefits for Foreign Residents or Retirees |
Valid foreign residents are eligible for Mexican senior citizen benefits that amount to discounts of up to 50% on a variety of goods and services, from health care to movie tickets to hotel rooms. |
|
National Airline |
Aeromexico – www.aeromexico.com/ |
Reviewed By Kathleen Peddicord
Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
Start Your New Overseas Life Today
We Value Your Privacy! We will not share your email address with anyone else, period.
Portugal is on the Iberian Peninsula, in the southwest corner of Europe. Portugal shares that peninsula Spain, its larger neighbor.
Portugal is known for Fado music and also for being the largest cork producer in the world.
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