iStock/Marcos Elihu Castillo Ramirez
Mexico, formally known as Estados Únidos Mexicanos (United Mexican States), is a country with rich traditions and a strong culture. Mexico has the 10th largest population in the world and is the 13th largest country in terms of total land area. Spanish is the national language of Mexico, although over 50 different indigenous languages are spoken. Mexico is the country which introduced the world to chocolate.
| Information Type | Mexico Data |
|---|---|
|
Population |
128,932,753 people (June 2020) |
|
Currency |
Mexican Peso (MXN) |
|
Exchange Rate Versus U.S. Dollar |
21.86 pesos per U.S. dollar (June 2020) |
|
Languages |
Spanish, Indigenous languages |
|
Capital |
Mexico City |
|
Population of Capital City |
21.7 million (metropolitan area, June 2020) |
|
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.com.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
Mexicana – www.mexicana.com |