How to move to Mexico: Step-by-step guide

Living Abroad Life in Mexico How to move to Mexico: Step-by-step guide Adam Rozsa 16.08.23 (updated more than 1 year ago) 4 minute read If you’re hoping to work, study abroad, or perhaps you’re just in it for the adventure, relocation can be exciting – and a little scary, if you don’t have the right information. This guide will walk you through everything you need to know about moving to Mexico and getting set up for success. We’ll also mention Wise, which may help you save money when sending money abroad. Living in Mexico stats: Money in Mexico: Mexican pesos (also written as MXN or MX$) Population: 127.5 million Capital: Mexico City (now often called CDMX) Expat population: ~1 million (mostly American) Official language: Spanish Weather: Tropical, varies by region Biggest cities: CDMX, Iztapalapa, Ecatepec Average salary: MX$226,018 Step 1: Figure out the legal requirements to move to Mexico The visa requirements for moving to Mexico vary slightly depending on where you’re from. Requirements for American citizens Americans, for instance, can usually get the FM3 visa fairly easily. It requires mostly identification documents and proof that you can support yourself financially in Mexico. The FM3 visa allows you to stay in Mexico for durations over 6 months, but isn’t seen as a way to stay permanently in the country. For that, you’ll need the FM2 (immigrant visa). Requirements for UK, EU & Australian citizens Expats from other countries will follow roughly the same visa structure, though they may be asked to provide different documentation during the process. The best way to find out exactly what’s required for your country is to contact your local embassy. 💡 Moving to Mexico? We’ve selected the most important Mexico-related articles for you – check them out! How to open a bank account in Mexico? Renting in Mexico: Everything you need to know Renting in Mexico City: How to find your perfect homeHow to buy a car in Mexico: A complete guide Work in Mexico: Getting a Mexican work visa Step 2: Make sure you can afford the cost of living in Mexico Generally, living in Mexico is pretty cheap, but you’ll still want to keep an eye on prices and know just how far your funds will go once you get there. The following table lays out prices for some basic items in the country: Living expenses in MexicoAverage Cost Inexpensive meal$150 MXN Monthly local transportation pass$360 MXN Gasoline 1 gallon$87 MXN Monthly gym membership$600 MXN Pair of Nike Running shoes$1,507 MXN Step 3: Set up your finances in Mexico The most important step in setting up your finances in Mexico is opening up a bank account, which you should be able to do in about a day with very little effort. Any of Mexico’s larger national banks or the many international banks will be able to help you convert your existing funds into Mexican pesos as well, though it’s a good idea to keep your eye on the exchange rate. If you do find your bank is inflating the exchange rate – normally banks and transfer services add in an additional 4-5% spread to their rates – you might consider using Wise. Wise ensures you’re getting the fair rate – the mid-market rate, the same one banks use – and cuts down on your total cost. Alternatively, you can open up a Wise Account to manage your money in dozens of global currencies. With the Wise Account, you’ll get all these brilliant benefits: Bank details in 9 currencies The option to hold, send, spend and convert 40+ currencies at once Send money overseas with low and transparent fees, Order a Wise card for a one time fee of just $9 – for use in 160 countries Mid-market exchange rates on all transactions. Please see Terms of Use for your region or visit Wise Fees & Pricing: Only Pay for What You Use for the most up-to-date pricing and fee information. Step 4: Find a job and get to work in Mexico All in all it shouldn’t be too difficult to find a job in Mexico, especially if you’re bilingual in Spanish. If you do find a job, it’ll be much easier to get an FM2 Immigrant Visa. To get started on your job hunt, some of the best sites to browse open positions include: Opcion Empleo Bumeran Occmundial Indeed Step 5: Get a place to live in Mexico Finding rental apartments in Mexico is pretty simple, with a breadth of options available to locals and expats alike. If you’re hoping to get a good rate, however, knowing some Spanish will be handy – many landlords are willing to negotiate, especially if you’re not working with a realtor. Some places that attract a large expat community include: Playa del Carmen Tulum Puerto Peñasco Mazatlán Mexico city Step 6: Make sure your healthcare is covered in Mexico Healthcare in Mexico is privatized, and operates on a free market system. Most people in Mexico choose to carry personal health insurance, which can save you from massive bills if you get sick or in an accident. While finding a doctor is as easy as a quick Google search, finding an English-speaking doctor can be a challenge. A service like ISOS can help you find an English-speaking doctor in your country, and recommend the best hospitals and specialists in your region. Step 7: If you haven’t already, learn the language Learning Spanish will be key to really getting the most out of living in Mexico. If you don’t already speak the language, apps like Duolingo and Babbel can go a long way towards helping you learn on your own. Alternatively, there are many tutors on Craigslist who offer paid lessons over the internet, often via video call. Step 8: Don’t be lonely – make friends and get in touch with other expats in Mexico There are a healthy number of expats living in Mexico, and finding and making friends with some of them can go a long way towards helping you feel at home in your new country. The best places to start are Facebook and Meetup, both of which advertise numerous expat groups that regularly get together across the country. Additionally, look at your local bars and restaurants – many of them offer expat nights centered around language learning or sporting events. Step 9: Make sure you’re prepared with important contacts in Mexico in case of an emergency While learning emergency numbers aren’t something most adults think about regularly, it’s important to remember that contact information for the police, fire services, and ambulances is different in Mexico. Some important numbers to remember include: Important contacts in MexicoPhone number Emergency911 Police060 Red cross065 City hotline070 US Embassy+55 5080 2000 British Embassy+52 55 1670 3200 Australian Embassy+52 55 1101 2200 Canadian Embassy+52 55 5724 7900 As you can see, moving to Mexico is a pretty easy process, and it won’t be long before you’re settled in your new Mexican home enjoying the tropical weather, excellent food, and beautiful historic sites. Good luck with your move! *Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date. Money without borders Find out more Living Abroad Renting in Mexico City as an American: What to know Thinking about moving to Mexico City? Find out what you need to know about renting in Mexico in this guide. Alexis Konovodoff 27.09.24 9 minute read Living Abroad Does Mexico allow dual citizenship? 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