Taxes

Taxes for residents and non residents differ and should be thoroughly researched before the move to purchase property. Recent changes to the fiscal tax code has changed the countries definition of a tax resident from someone who resides in Mexico for more than 183 days to someone who sets up residence in Mexico regardless of the time spent in the country. For individuals who have a home in Mexico and in another country, your tax residence status will be determined by the bulk source of your income. If more than 50% of your income is derived in Mexico you are considered a tax residence.