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Jingthing

Expats in Thailand considering moving to Latin America prompted by Thai visa changes

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3 minutes ago, Jingthing said:

Indeed on that point you are entirely correct. Thanks for that and I definitely should have known better as I've toured around Costa Rica. I might have been thinking about Bluefields, Nicaragua in a neighboring country on the mainland that does indeed have a Caribbean culture. 

I always heard that Bluefields was a malaria ridden s***hole that was best stayed away from like most places on the nica caribbean coast...

 

 

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4 minutes ago, tutsiwarrior said:

I always heard that Bluefields was a malaria ridden s***hole that was best stayed away from like most places on the nica caribbean coast...

 

 

Sounds about right. It's definitely not an expat haven. 

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On 12/12/2019 at 9:40 PM, tutsiwarrior said:

I always heard that Bluefields was a malaria ridden s***hole that was best stayed away from like most places on the nica caribbean coast...

 

 

 

My friend is American but was born in Nicaragua. Rescued when he was a baby by Catholic missionaries. He goes back from time to time and says it isn't safe. His family won't let him go anywhere in the small village at night.

 

He says the food isn't great either. Very limited. He doesn't go to Nicaragua because he finds it enjoyable but to see his family. Nicaragua is still dangerous and people promoting the place with no knowledge of it are being irresponsible to say the least.

 

 

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What about Argentina? Anybody have any recommendations or experience in Argentina?

 

Argentina has about USD$200 billion of debt due in 2020, and they are hungry for USD. There maybe be some good deals for renting/buying if done in USD. Their main source of foreign currency is exports, mostly food exports. Now they are planning to increase the export tax on food.

 

Buenos Aires has beautiful women. Maybe Cordoba is suitable too? 

 

What's the immigration requirements?

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22 minutes ago, Banana7 said:

What about Argentina? Anybody have any recommendations or experience in Argentina?

 

Argentina has about USD$200 billion of debt due in 2020, and they are hungry for USD. There maybe be some good deals for renting/buying if done in USD. Their main source of foreign currency is exports, mostly food exports. Now they are planning to increase the export tax on food.

 

Buenos Aires has beautiful women. Maybe Cordoba is suitable too? 

 

What's the immigration requirements?

Argentina has been mentioned numerous times before on the thread. I did a fairly long stay in Buenos Aires myself and loved it but for various reasons which I've posted about before, Argentina doesn't interest me as a retirement destination. If you're interested you may want to do your own current research and post about it here.

 

To add, if you're interested in Argentina you might want to look into neighboring Uruguay. It has middle level retirement status requirements which I am unfortunately a tad under but if I wasn't it would be up there on my list. 

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19 hours ago, Jingthing said:

Argentina has been mentioned numerous times before on the thread. I did a fairly long stay in Buenos Aires myself and loved it but for various reasons which I've posted about before, Argentina doesn't interest me as a retirement destination. If you're interested you may want to do your own current research and post about it here.

 

To add, if you're interested in Argentina you might want to look into neighboring Uruguay. It has middle level retirement status requirements which I am unfortunately a tad under but if I wasn't it would be up there on my list. 

I'll do more research. However, ARS currency is plummeting which reminds me of Thailand's currency issues back in 1997-1998.

 

In May 2019 USD=44.3 ARS, today 15 Dec. 2019 USD= 59.63 ARS, and ARS will probably continue to devalue.

 

 

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3 hours ago, Banana7 said:

I'll do more research. However, ARS currency is plummeting which reminds me of Thailand's currency issues back in 1997-1998.

 

In May 2019 USD=44.3 ARS, today 15 Dec. 2019 USD= 59.63 ARS, and ARS will probably continue to devalue.

 

 

back in the 90s it was worse and I wondered how a big vibrant place like Buenos Aires could survive...I was in Bolivia in the 80s and shops in Cochabamba simply shut down, when youl'd ask what something cost they'd say 'no tiene precio' meaning that the price could double the next day...strangely enough meat and veg remained nearly the same...locally produced...

 

hyper inflation is really bad and can seriously screw things up and cause chaos...hard to find a pack of smokes sometimes...folks useta barter fer stuff when it got bad and hoard making the problems worse...

 

 

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Don't shoot the messenger.

I have some rather major news about financial requirements for temporary and permanent residence in Mexico.

It's a double whammy.

First the currency. The Mexican Peso has recently strengthened.

Then the minimum wage. Financial requirements (as for Colombia) are based on a set multiple of the minimum wage. 
Well the minimum wage is set to go up over 20 percent.

So that means that the financial requirements (either based on income or showing money) also go up over 20 percent. 

Before I was wondering in what ways a leftist populist new leader would impact on expats.

Well now we know some ways.

His tactic to "hug" the cartels doesn't seem to be working, although that as before will be location dependent.

Now the rise in minimum wage directly increasing financial requirements for expats. Without commenting on whether this is  a good or bad domestic policy for Mexico (not really in the bounds of this thread) it could definitely be a problem for some potential expats.

 

To credit the source of this news, check out this information site on retiring in Mexico that is as you might expect, American-centric.

 

https://qroo.us/

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21 minutes ago, Jingthing said:

Don't shoot the messenger.

I have some rather major news about financial requirements for temporary and permanent residence in Mexico.

It's a double whammy.

First the currency. The Mexican Peso has recently strengthened.

Then the minimum wage. Financial requirements (as for Colombia) are based on a set multiple of the minimum wage. 
Well the minimum wage is set to go up over 20 percent.

So that means that the financial requirements (either based on income or showing money) also go up over 20 percent. 

Before I was wondering in what ways a leftist populist new leader would impact on expats.

Well now we know some ways.

His tactic to "hug" the cartels doesn't seem to be working, although that as before will be location dependent.

Now the rise in minimum wage directly increasing financial requirements for expats. Without commenting on whether this is  a good or bad domestic policy for Mexico (not really in the bounds of this thread) it could definitely be a problem for some potential expats.

 

To credit the source of this news, check out this information site on retiring in Mexico that is as you might expect, American-centric.

 

https://qroo.us/

 

Hard for a pensions to grow the same % way an emerging market salary rate will go up in the future. if their currency acts like the THB then people will be in a baaaaad surprise and there's nothing you can do to anticipate it.

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9 minutes ago, ThomasThBKK said:

 

Hard for a pensions to grow the same % way an emerging market salary rate will go up in the future. if their currency acts like the THB then people will be in a baaaaad surprise and there's nothing you can do to anticipate it.

Yes indeed. But it's not all bad news. Mexico like Thailand has a show the money option. It's my view that most potential retired expats to Mexico will be at least able to show the temporary residence level the one time. Then it's my understanding that you renew for 4 years (I think without even needing to ever show the money again) and then you automatically transition to permanent. If I'm wrong about that, someone correct. That's much better than Thailand with the 24/7, 365 days a year direct or virtual scrutiny of the bank accounts of those using the 800K method. Probably if a person doesn't have the savings levels for Mexico temporary (shown OUTSIDE of Mexico) then they probably can't afford to retire in Mexico or anywhere anyway. The levels for permanent going in are much higher and I'm still not clear if showing money in retirement accounts like IRAs will work. So I think the majority probably will not have that initial permanent level liquid outside retirement accounts.

 

Also of course Mexico is wonderfully EASY for part time residents, snowbirds, "retired" or not. Just show up with a western passport and you can stay SIX months. 

Edited by Jingthing
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14 minutes ago, Jingthing said:

Yes indeed. But it's not all bad news. Mexico like Thailand has a show the money option. It's my view that most potential retired expats to Mexico will be at least able to show the temporary residence level the one time. Then it's my understanding that you renew for 4 years (I think without even needing to ever show the money again) and then you automatically transition to permanent. If I'm wrong about that, someone correct. That's much better than Thailand with the 24/7, 365 days a year direct or virtual scrutiny of the bank accounts of those using the 800K method. Probably if a person doesn't have the savings levels for Mexico temporary (shown OUTSIDE of Mexico) then they probably can't afford to retire in Mexico or anywhere anyway. The levels for permanent going in are much higher and I'm still not clear if showing money in retirement accounts like IRAs will work. So I think the majority probably will not have that initial permanent level liquid outside retirement accounts.

 

Also of course Mexico is wonderfully EASY for part time residents, snowbirds, "retired" or not. Just show up with a western passport and you can stay SIX months. 

 

https://qroo.us/2019/06/20/retiring-in-mexico-the-one-thing-we-wish-we-had-done-differently/

 

seems to be better to just apply for permanent residency directly  and skip the temporary one all together. It's even cheaper to do it that way - if you have the money for perm residence (savings,real estate or income). However if you take the 4 years temp residency and then the permanent one you only need to fullfill the temp residency money requirement which is a bit less:

 

http://qroo.us/2018/07/10/retiring-in-mexico-financial-requirements-for-residency/

 

 

Overall not cheaper in terms of visa to life there imo, temp residency costs what the retirement visa here costs, but it seems more permanent so thats good. Just not the cheap visa i thought it is.

 

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On 11/22/2019 at 1:26 AM, JaiLai said:

Can you speak french / portuguese?

 

i've been to several west african countries, found ghana about the most civilised but would still never consider living there.

Well I can get by in French and Portuguese for survival purposes but many people speak English and these days there are many good translation apps. Why Ghana?

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When I read the post here about the Mexican minimum wage to rise by 20 %, my first thought was that could cause inflation to rise.

Some asked by reuters seem to think similar.

 

However the Mexico minimum wage was raised by 16 % on Jan 1st 2019.

Inflation has actually been fairly stable so perhaps that will not be an issue.

 

"The Mexican government on Monday agreed to raise the daily minimum wage by 20%, the second consecutive major increase, but experts said a large hike could make it challenging for the central bank to keep core inflation under control.

 

We continue to gradually recover the value that the minimum salary has lost over time without creating instability, without creating inflation,” Mexican President Andres Manuel Lopez Obrador said. “This is an important increase.”..................

 

Full    article             https://www.reuters.com/article/us-mexico-wages/mexico-to-hike-daily-minimum-wage-by-20-experts-worry-about-inflation-idUSKBN1YL051

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Some background on why there is so much unrest currently in large parts of Latin America. Of course these countries include the top expat destinations such as Mexico so worth paying attention. 

 

https://edition.cnn.com/2019/12/03/americas/five-keys-latin-america-protests-romo-intl/index.html


 

Quote

 

What’s behind the upheaval in Latin America?: The reasons go far beyond ideological labels

 

What’s happening in Latin America?” That’s the question I’ve been getting in recent weeks from those who may not necessarily be familiar with the region but have noticed a spike in headlines this year about Latin America and the turmoil that countries like Ecuador, Chile, Bolivia and most recently Colombia have experienced.

 

 

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Smaller countries like Bolivia, Ecuador nice. Argentina, Chile not so good attitude, except BA, Patagonia and some other areas. Tension white/black ppl in Brazil. N Mex drug problems, Yucatan soso, mountains nice. C.Rica relaxed. Cuba ok. Colombia ok and safer nowadays.

 

I wonder how the Pattaya guys would like S.A. The areas where many farlang spend time in Thailand are designed for foreigner. Thai are used to foreigner there. In S.A. you usually end up interacting with locals that are less used to foreigner. 

 

Food in Thailand outstanding and cheap.

 

More tension and less safe in S.A. More strict in S.A. 

Edited by thailandsgreat
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