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SUMMARY
How much money do you need to retire in Mexico City? For one person renting comfortably with no pension, roughly $800,000–$1.1 million in investable assets is a strong current target; with reliable pension income, the required portfolio can fall dramatically.
The city is still affordable by major-US-city standards, but the old “cheap Mexico City retirement” idea is dated. The biggest change is housing: the citywide two-bedroom benchmark is now about MXN 21,921 a month, up roughly 64% since late 2021.
Neighborhood choice now matters almost as much as the city choice itself. A retiree in Pantitlán or Santa María la Ribera can face a housing bill less than half the level seen in Condesa, so two people can both “retire in Mexico City” on very different budgets.
A comfortable single-person budget lands around MXN 45,000–60,000 a month. Around $2,000 a month is still workable with cheaper housing and tighter choices, while roughly $3,000 gives much more room for a good apartment, restaurants, private healthcare and leisure.
Healthcare is the expense most likely to be understated in casual expat budgets. Routine private care can be inexpensive, and IMSS annual fees are low, but major-medical protection becomes more complicated and more expensive with age.
Foreign retirees also carry a currency risk that local budgets hide. At MXN 17 per dollar, an MXN 55,000 lifestyle costs about $3,230; at MXN 15, the exact same lifestyle costs around $3,667 without any local inflation at all.
Pension income changes the retirement math far more than small lifestyle cuts. At MXN 55,000 of monthly spending, a $2,000 monthly pension can reduce the required portfolio from roughly $994,000 to about $379,000 using a 3.9% starting withdrawal rate.
Buying can improve retirement cash flow if Mexico City is a long-term commitment. A roughly MXN 3.5–4.5 million apartment can eliminate a rent bill that would otherwise require a much larger liquid portfolio to fund indefinitely, although maintenance, transaction costs and illiquidity still matter.
Residency rules and daily affordability are two separate tests. A retiree can comfortably afford Mexico City yet still fail a consulate’s financial-solvency threshold for permanent residence, so visa planning cannot be inferred from the monthly budget alone.
Mexico City is also no longer the obvious low-cost choice inside Mexico. Guadalajara, Querétaro and Mérida generally come in cheaper, especially on rent; Mexico City earns its premium through healthcare, transport, culture, restaurants and international connectivity.
The cleanest conclusion is that Mexico City still works very well for retirement, but it rewards people who arrive with either meaningful guaranteed income or a substantial portfolio. Around $3,000 a month is a solid comfort benchmark for one person, while a retiree without pension income should think much closer to a seven-figure-dollar nest egg than old “retire cheaply in Mexico” guides suggest.
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Has Mexico City become too expensive to retire in?
Mexico City is still affordable enough to make retirement attractive, but the cheap-retirement reputation now needs a serious update.
Housing is what changed the equation. Inmuebles24’s latest Mexico City rental index puts the average rent for a two-bedroom apartment at MXN 21,921 a month. Since rents started climbing again in late 2021, that benchmark has jumped 64%. Even during the first half of this year, rents gained another 3.7%, faster than inflation over the same period.
Those averages also hide a huge gap between neighborhoods. Hipódromo de la Condesa recently reached MXN 38,419 a month in the same Inmuebles24 index, while Pantitlán was around MXN 10,865. Current listings on the platform show a similar pattern: roughly MXN 29,100 in Roma Norte, MXN 33,100 in Juárez and almost MXN 48,800 in Condesa.
That is why very different retirement budgets for Mexico City can all sound plausible. Someone renting outside the international hotspots can still live here relatively cheaply. Someone expecting a modern apartment in Condesa, Roma Norte or Polanco is entering a very different market.
| Mexico City rental signal | Current level | What has changed | What it means for retirees |
|---|---|---|---|
| Average 2-bedroom apartment | MXN 21,921/month | +64% since late 2021 | Old retirement budgets are badly outdated |
| Hipódromo de la Condesa | MXN 38,419/month | Among the city’s highest | Premium central living requires much more income |
| Roma Norte current listings | ~MXN 29,100/month | High-demand central market | Still expensive even below Condesa |
| Pantitlán | MXN 10,865/month | Far below prime areas | Cheaper Mexico City still exists |
| First-half rent growth | +3.7% | Above inflation | Housing pressure is still running |
How much does a retiree actually need each month in Mexico City?
A single retiree who wants a genuinely comfortable life in Mexico City should currently budget around MXN 45,000–60,000 a month.
Housing usually takes MXN 17,000–25,000 of that range if we avoid the most expensive parts of Condesa and Polanco. Around MXN 10,000–15,000 can cover groceries plus regular restaurants. Utilities, phone and internet may add MXN 2,000–3,500, while public transport and occasional rideshares remain relatively inexpensive.
Healthcare deserves more room than younger-expat budgets normally give it. We would reserve at least several thousand pesos each month even before considering expensive private insurance at older ages. Travel, household expenses and unexpected costs also need some breathing room.
A retiree can certainly spend less than MXN 45,000. But once the target becomes a good apartment, eating out regularly, private medical options and enough spare cash to stop tracking every peso, the MXN 45,000–60,000 range is much closer to reality today.
| Monthly expense | Reasonable range | What drives the difference | Where we would budget |
|---|---|---|---|
| Rent | MXN 17,000–25,000 | Neighborhood and apartment quality | MXN 21,000 |
| Food and restaurants | MXN 10,000–15,000 | How often you eat out | MXN 12,000 |
| Utilities, phone, internet | MXN 2,000–3,500 | Building and usage | MXN 2,500 |
| Transport | MXN 1,500–4,000 | Metro vs frequent rideshares | MXN 2,500 |
| Healthcare | MXN 3,000–7,000+ | Age and insurance | MXN 5,000 |
| Leisure, travel, misc. | MXN 8,000–12,000 | Lifestyle | MXN 10,000 |
| Total | MXN 41,500–66,500+ | Mostly housing and healthcare | ~MXN 53,000 |
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How much does a decent apartment cost in Mexico City now?
A retiree looking for a decent Mexico City apartment should currently expect roughly MXN 15,000–25,000 a month, with prime neighborhoods easily moving beyond that range.
The citywide numbers give us a useful starting point. Inmuebles24 currently tracks a two-bedroom apartment at MXN 21,921 per month. Current listings in Cuauhtémoc show average rents around MXN 33,800 overall, with Roma Norte around MXN 29,100, Juárez around MXN 33,100, Hipódromo around MXN 33,400 and Condesa close to MXN 48,800.
There are much cheaper options. Centro listings currently average around MXN 18,000 and Santa María la Ribera around MXN 17,400 on the same platform. Coyoacán has also historically sat well below Cuauhtémoc and Miguel Hidalgo.
For retirement planning, we would use MXN 20,000–22,000 as a sensible base rent rather than building the plan around a bargain listing. Someone determined to live in Condesa or another premium pocket should add at least MXN 10,000–20,000.
That neighborhood decision gets surprisingly expensive over 30 years. An extra MXN 15,000 of rent every month means MXN 180,000 of extra annual spending. At a 3.9% portfolio withdrawal rate, supporting that difference requires roughly MXN 4.6 million more invested capital.
Can you retire in Mexico City on $2,000 a month?
A single person can still retire in Mexico City on $2,000 a month, but today that budget requires real choices about housing and lifestyle.
With one US dollar currently worth about MXN 17, $2,000 converts to roughly MXN 34,000. Paying MXN 20,000 for rent immediately consumes close to 60% of the entire budget.
The numbers work much better with MXN 13,000–15,000 housing. That leaves roughly MXN 19,000–21,000 for food, healthcare, utilities, transport and everything else.
Mexico City does help retirees in a few important places. Public transportation remains remarkably cheap. A Metro journey still costs MXN 5, so somebody who walks and uses Metro or Metrobús regularly can spend very little getting around. Everyday restaurants and many services also remain inexpensive compared with major US or Western European cities.
The weak point is the margin for error. Private insurance, frequent flights abroad, a stronger peso or a move into a better apartment could blow through MXN 34,000 quite quickly.
We’d call $2,000 a workable Mexico City retirement budget for one person, not a carefree one.
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Is $3,000 a month enough to retire comfortably in Mexico City?
Around $3,000 a month is enough for one person to live comfortably in Mexico City today without turning retirement into a constant budgeting exercise.
At the current exchange rate, $3,000 gives roughly MXN 51,000. Put MXN 20,000–22,000 toward housing and there is still close to MXN 30,000 available for food, healthcare, transport, restaurants and leisure.
Routine private healthcare also remains accessible at this level. A specialist consultation can often cost somewhere around MXN 1,000–2,000, while major private hospitals charge more. Médica Sur, for example, currently lists its immediate-care consultation at MXN 2,500.
The budget starts getting stretched when several expensive preferences arrive together. MXN 35,000+ housing, comprehensive private insurance, frequent international travel and heavy restaurant spending can easily push monthly expenses beyond $3,000.
For a normal comfortable retirement rather than a luxury one, though, $3,000 remains a strong benchmark.
| Monthly budget | Approx. pesos today | What it buys | Our view |
|---|---|---|---|
| $2,000 | ~MXN 34,000 | Modest rent, controlled spending | Workable |
| $2,500 | ~MXN 42,500 | More housing choice and flexibility | Comfortable with some limits |
| $3,000 | ~MXN 51,000 | Good apartment and regular discretionary spending | Comfortable |
| $3,500 | ~MXN 59,500 | Strong buffer for healthcare and leisure | Very comfortable |
| $5,000 | ~MXN 85,000 | Prime housing becomes realistic | High-end lifestyle |
How expensive is healthcare for retirees in Mexico City?
Routine healthcare in Mexico City can still be cheap, but older retirees should take major medical costs much more seriously than the usual expat cost-of-living guides do.
Mexico’s public IMSS option looks extremely inexpensive. The official fees currently charge MXN 20,600 a year for someone aged 60–69, MXN 21,500 at 70–79 and MXN 22,150 from age 80. Even the oldest bracket works out to less than MXN 1,850 per month.
There is an important catch. IMSS states that certain pre-existing illnesses can prevent enrollment, other conditions have waiting periods, and some treatments are excluded. A retiree cannot safely assume that paying MXN 22,000 a year solves every healthcare problem.
Private medical care is where age starts to bite. Premiums vary enormously with the insurer, deductible, hospital network and medical history, but Mexican insurance brokers commonly quote annual major-medical premiums well into five figures of pesos for people in their 60s and substantially more in their 70s. Serious private hospitalization can also run far beyond the cost of ordinary consultations.
So we would not use Mexico’s cheap doctor visits as evidence that healthcare barely affects retirement planning. Routine care remains inexpensive. Protecting an older retiree against a major bill is the harder part.
| Healthcare option | Current cost or range | What you get | Main limitation |
|---|---|---|---|
| IMSS age 60–69 | MXN 20,600/year | Public medical coverage | Pre-existing-condition rules |
| IMSS age 70–79 | MXN 21,500/year | Public medical coverage | Waiting periods and exclusions |
| IMSS age 80+ | MXN 22,150/year | Public medical coverage | Same eligibility issues |
| Routine private consultation | Often ~MXN 1,000–2,500 | Fast private access | Does not cover major hospitalization |
| Private major-medical insurance | Highly variable | Protection against large bills | Can become expensive with age |
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Could inflation or the peso suddenly make Mexico City much more expensive?
A foreign retiree should expect the cost of Mexico City to move around noticeably in dollar or euro terms even when local inflation looks fairly normal.
Mexico’s latest official INEGI reading put annual headline inflation at 3.12%. Services were rising faster at 4.36%, while housing components were up 3.62%. Those figures look fairly tame.
Rent tells a less comfortable story. As seen above, Inmuebles24 has recorded a 64% increase in its Mexico City rent benchmark since late 2021. Housing has therefore become much more expensive than a simple national inflation chart would suggest.
Currency can change the foreign retiree’s bill again. At roughly MXN 17 per dollar today, an MXN 55,000 lifestyle costs about $3,230. If the peso strengthened to MXN 15 per dollar, exactly the same Mexican spending would cost around $3,667. That is roughly 14% more in dollars without a single local price increasing.
For that reason, we would keep roughly six to twelve months of spending in cash or very short-term assets. At MXN 50,000 a month, that means around MXN 300,000–600,000 available without having to sell long-term investments.
That reserve gives a retiree room to handle an unfavorable currency move, an apartment move, emergency travel or a bad year in financial markets.
How big a portfolio do you need to retire in Mexico City with no pension?
Someone funding a Mexico City retirement entirely from investments should currently think in terms of roughly $800,000 to $1.1 million for a comfortable single-person lifestyle.
Morningstar’s latest retirement-income research gives us a useful baseline. Its current estimate is a 3.9% starting withdrawal rate for a 30-year retirement with inflation-adjusted spending and a 90% probability of still having money at the end. The research assumes no Social Security or other outside income.
That rate has also moved over time. Morningstar estimated 3.3% in 2021, 3.8% in 2022, 4.0% in 2023, 3.7% in 2024 and 3.9% now. We therefore use it as a planning framework rather than pretending 3.9% is a permanent law.
At MXN 45,000 of monthly spending, annual expenses reach MXN 540,000. Dividing that by 3.9% gives roughly MXN 13.85 million, currently around $814,000.
At MXN 60,000 a month, the required portfolio rises to about MXN 18.46 million, or roughly $1.08 million.
Someone comfortable adjusting spending during bad markets could start higher. Morningstar’s newer work shows flexible strategies reaching roughly 5.7% in some scenarios. For a retiree who wants a predictable paycheck and does not want to cut spending after market losses, 3.9% remains the cleaner benchmark.
| Monthly spending | Annual spending | Portfolio at 3.9% | Approx. USD today |
|---|---|---|---|
| MXN 35,000 | MXN 420,000 | MXN 10.77m | ~$633,000 |
| MXN 45,000 | MXN 540,000 | MXN 13.85m | ~$814,000 |
| MXN 50,000 | MXN 600,000 | MXN 15.38m | ~$904,000 |
| MXN 60,000 | MXN 720,000 | MXN 18.46m | ~$1.08m |
| MXN 80,000 | MXN 960,000 | MXN 24.62m | ~$1.45m |
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How much less money do you need if you already have a pension?
A dependable pension can cut the investment portfolio needed for Mexico City retirement by hundreds of thousands of dollars.
Take a single retiree spending MXN 55,000 a month. Without any outside income, supporting MXN 660,000 of annual withdrawals at 3.9% requires about MXN 16.9 million, currently close to $994,000.
A $2,000 monthly pension is worth roughly MXN 34,000 at today’s exchange rate. The portfolio now needs to provide only about MXN 21,000 a month. That reduces the required investment balance to approximately MXN 6.45 million, or around $379,000.
Raise the pension to $2,500 a month and the remaining gap falls to roughly MXN 12,500. The portfolio requirement drops to around $225,000.
This is why pension income matters far more than shaving MXN 2,000 off groceries or hunting for a slightly cheaper phone plan. A stable $2,000–$3,000 monthly income can completely change the size of the nest egg required.
| Monthly pension | Approx. MXN today | Remaining MXN 55k budget | Portfolio needed at 3.9% |
|---|---|---|---|
| $0 | MXN 0 | MXN 55,000 | ~$994,000 |
| $1,500 | ~MXN 25,500 | ~MXN 29,500 | ~$533,000 |
| $2,000 | ~MXN 34,000 | ~MXN 21,000 | ~$379,000 |
| $2,500 | ~MXN 42,500 | ~MXN 12,500 | ~$225,000 |
| $3,000 | ~MXN 51,000 | ~MXN 4,000 | ~$72,000 |
How much does a couple need to retire in Mexico City?
A retired couple should currently budget roughly MXN 60,000–80,000 a month for a comfortable Mexico City lifestyle.
Two people do not need twice the single-person budget because the largest bill is shared. The apartment costs roughly the same, as do internet and many household expenses. Food, healthcare, travel and transport rise more directly.
At MXN 60,000 a month, annual spending is MXN 720,000. Using the same 3.9% benchmark gives a fully self-funded portfolio of roughly MXN 18.5 million, or about $1.08 million today.
At MXN 80,000 a month, the figure reaches MXN 24.6 million, roughly $1.45 million.
Those numbers shrink quickly once pensions enter the picture. A couple receiving $4,000 a month between them currently brings in about MXN 68,000 before taxes. That alone can cover most or all of a comfortable Mexico City budget.
So a couple with strong pension income may need only a modest investment portfolio for flexibility and emergencies, while a couple living entirely from savings needs something much closer to seven figures in US dollars.
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Is it cheaper to buy an apartment than keep renting in Mexico City?
Buying a Mexico City apartment can make retirement cash flow much easier, especially for someone planning to stay for many years.
Inmuebles24’s latest sale-price index puts the average Mexico City property at roughly MXN 51,000 per square meter. A 70-square-meter apartment at that citywide benchmark therefore costs around MXN 3.6 million before closing expenses.
Now compare that with MXN 20,000 of monthly rent. Eliminating that rent reduces annual spending by MXN 240,000. At our 3.9% withdrawal benchmark, generating MXN 240,000 every year would otherwise require about MXN 6.15 million of invested assets.
That makes homeownership surprisingly powerful for cash flow. Spending perhaps MXN 3.5–4.5 million on an apartment can remove a recurring expense that would require a larger financial portfolio to support indefinitely.
The calculation still has complications. Owners pay maintenance, condominium charges, taxes and repairs. Property is also far less liquid than a portfolio, and transaction costs make buying unattractive for someone who may leave after a few years.
For a retiree committed to Mexico City for the long term, though, owning the home can reduce the amount of liquid investment income needed every month.
Do you need more money for a Mexico retirement visa than for everyday life?
A retiree can genuinely afford Mexico City and still fail Mexico’s financial-solvency test for residency.
The gap is surprisingly large. The Mexican Consulate in San Diego currently asks a retiree applying directly for permanent residence to show either an average balance of at least $303,880 over the previous 12 months or pension income of at least $7,560 per month for the previous six months.
Those requirements are far above our actual Mexico City spending estimate. We put a comfortable single-person lifestyle around $2,650–$3,525 a month at current exchange rates.
Consulates can also publish different dollar thresholds because the rules are tied to Mexican reference values and the conversion methodology used by each post. Applicants therefore need to check the specific Mexican consulate where they intend to apply instead of relying on one universal number found online.
The amount needed to live well in Mexico City and the financial evidence needed to obtain a particular residency category answer two separate questions.
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Could taxes change how much money you need to retire in Mexico City?
Taxes can meaningfully raise the amount a foreign retiree needs, especially when the retirement plan depends heavily on pensions or investment withdrawals.
Mexico can treat residents as taxable on worldwide income. Whether that happens in a particular case depends on factors such as residence, where someone maintains a home and where their main economic interests sit.
The retiree’s home country matters too. Americans, for example, continue filing under the US tax system even while living abroad, and the US–Mexico tax treaty affects how certain pension and investment income is treated. Other nationalities face different combinations of domestic rules and tax treaties.
That means a $3,000 gross pension should never automatically become $3,000 in the Mexico City spending column. The useful number is what arrives after tax.
We would handle this individually rather than adding an arbitrary percentage to every retirement budget. For someone with substantial pension income, taxable investment accounts or property in several countries, cross-border tax treatment can change the final retirement number enough to justify professional advice.
Is Mexico City still cheaper for retirement than other major Mexican cities?
Mexico City currently costs more than several popular Mexican retirement alternatives, and rent explains much of the difference.
Recent Numbeo comparisons put Mexico City’s combined cost-of-living-and-rent index around 39.5, versus roughly 34.6 in Querétaro, 33.7 in Guadalajara and 32.3 in Mérida.
The gap grows once housing enters the comparison. Mexico City’s rent index sits around 28, compared with roughly 19 in Guadalajara, 19 in Querétaro and 17 in Mérida.
That premium buys something real. Mexico City offers exceptional private healthcare, enormous restaurant and cultural scenes, extensive public transport and one of the country’s best selections of international flights. Plenty of retirees will happily pay more for those advantages.
But someone choosing Mexico purely to minimize retirement spending can do better elsewhere. Mexico City makes the strongest financial case for people who actually want the benefits of a huge capital city.
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So how much money do you really need to retire in Mexico City?
For a single retiree renting comfortably in Mexico City with no pension, roughly $800,000–$1.1 million in investable assets is the strongest current target.
That conclusion comes from spending rather than a generic retirement rule. A comfortable single-person budget now lands around MXN 45,000–60,000 a month. Using Morningstar’s current 3.9% starting withdrawal benchmark turns that into roughly $814,000–$1.08 million at today’s exchange rate.
We would keep another six to twelve months of expenses available in cash or short-term assets, particularly for someone relying on foreign-currency income or private healthcare.
The number changes dramatically with guaranteed income. A retiree spending MXN 55,000 a month needs close to $1 million if investments fund everything. Add a $2,000 monthly pension and the required portfolio falls to roughly $379,000. At $2,500 of pension income, it falls near $225,000.
Couples funding their whole lifestyle from investments should generally think closer to $1.1–$1.45 million, although shared housing makes retirement much cheaper per person.
Mexico City still works very well as a retirement destination, but the era of treating it as an automatically cheap one is fading. Someone arriving with $2,000 a month can make it work. Around $3,000 gives one person a genuinely comfortable life. And for a retiree without meaningful pension income who wants that lifestyle to remain durable for decades, roughly $1 million is now the cleanest target.
OUR METHODOLOGY
This analysis tests how much money a retiree currently needs to live comfortably in Mexico City. We separate the problem into housing, everyday spending, healthcare, inflation and currency exposure, pension income, portfolio sustainability, homeownership, residency requirements and taxes rather than relying on a single cost-of-living score.
Housing receives extra weight because it is both one of the largest recurring costs and one of the areas where Mexico City has changed most sharply. We use Inmuebles24’s Mexico City rent index for the two-bedroom benchmark, rent growth and neighborhood spread, its current Cuauhtémoc listings for live asking-rent comparisons, and its sale index for the citywide price-per-square-meter benchmark used in the buy-versus-rent section.
For inflation and currency exposure, we use INEGI’s official consumer-price data and Banco de México’s exchange-rate series. We treat the exchange rate as a moving input rather than a permanent assumption, which is why the article tests how the same peso budget changes in dollar terms under a stronger peso.
Healthcare is split between routine care and protection against major costs. IMSS provides the official age-based annual fees, eligibility restrictions, waiting periods and exclusions for Seguro de Salud para la Familia, while Médica Sur provides a direct private-care price example. We do not treat inexpensive consultations as proof that total retirement healthcare costs are low.
Portfolio estimates are built from the spending scenarios in the article rather than from a generic retirement multiple. Morningstar’s retirement-income research provides the 3.9% starting withdrawal benchmark used for the base case, while its broader State of Retirement Income work is used to show how flexible-spending strategies can support higher starting withdrawal rates in some scenarios.
Pension examples are calculated by subtracting guaranteed monthly income from the target Mexico City budget and applying the same 3.9% withdrawal rate only to the remaining spending gap. This lets us show directly why pension income can reduce the required investment portfolio by hundreds of thousands of dollars.
Residency requirements are kept separate from living costs. The Mexican Consulate in San Diego is the direct source for the permanent-residence retiree thresholds cited in the article, while the Las Vegas consulate is used as a cross-check showing why applicants should verify the financial-solvency numbers with the specific consular post handling the application.
For taxes, we rely on Article 9 of Mexico’s Código Fiscal de la Federación for the residence framework and on IRS guidance plus the US–Mexico tax treaty documents for the US side. Tax treatment is not converted into one blanket percentage because the result depends on residence, income type, treaty treatment and the retiree’s home country.
Key sources used for this analysis include: Inmuebles24’s Mexico City rent index, Inmuebles24’s current Cuauhtémoc rental inventory, Inmuebles24’s Mexico City sale index, INEGI’s National Consumer Price Index, Banco de México’s exchange-rate series, Mexico City Metro’s official fare history, IMSS Seguro de Salud para la Familia, Médica Sur’s immediate-care pricing, Morningstar’s safe-withdrawal-rate research, Morningstar’s State of Retirement Income research, the Mexican Consulate in San Diego’s permanent-resident visa requirements, the Mexican Consulate in Las Vegas’s permanent-residence requirements, Mexico’s Código Fiscal de la Federación, IRS guidance for US citizens and resident aliens abroad, and the IRS repository for the US–Mexico tax treaty.
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