Citizenship/residency

[GottmitAlex]

A U.S. citizen. Just got my Mexican permanent residency 6 months ago!! 

One of the benefits: I can drive a Mexican license plated vehicle to the US (across the border) for work/pleasure.  (Cheaper plates/insurance than a US license plate vehicle). 

Sadly so I cannot claim my German citizenship because they require I forego my U.S. citizenship and any future passports. Seeing how the state of affairs are in Deutschland and the EU, it's not worth it.  It's not the same Europe our grandparents talked about 

 

Carpe Diem

[bubba]

How does that work on your taxes?

[amh]

Will Mexico allow you to own property as a permanent resident or do you need full citizenship?

[GottmitAlex]

As a temporary resident they allow you you to own property. 

I'm still a bit on the fence regarding acquiring full citizenship because of emergency purposes.  Not hedging my bets, still, looking further into it. 

@bubba re: Taxes

I still file my tax returns in the U.S. 

Mexico will not tax you if you are taxed in a different country.  And in my case, my income is generated in the U.S. anyway.  

I believe the U.S. is one of the few countries that requires you to file regardless of which country you live in and even if you made $ 0 income. 

 

 

 

 

[GottmitAlex]

https://www.mexperience.com/difference-between-temporary-and-permanent-residency-mexico/

[bubba]

Coming and going…

[GottmitAlex]

On 11/14/2022 at 4:13 PM, bubba said:

Coming and going…

Speaking of..,.

My wife and kids just received their "SENTRI" passes to the US.  (Look up Sentri and Global Entry)

"Trusted traveler" they can travel up and down with minimal border wait time. 

There are three types of border crossings: normal (no paperwork), Ready lane ( with border crosser card or passport. All with RFID). And SENTRI: A special lane to cross with minimal delay (compared to the other two)

 

[bubba]

Alex, What a great idea! It is unfortunate about the taxes but you can commute likely to San Diego, make a living and drive back to your coconut palms!

[RedRabbit]

On 11/14/2022 at 5:33 PM, GottmitAlex said:

As a temporary resident they allow you you to own property. 

I'm still a bit on the fence regarding acquiring full citizenship because of emergency purposes.  Not hedging my bets, still, looking further into it. 

@bubba re: Taxes

I still file my tax returns in the U.S. 

Mexico will not tax you if you are taxed in a different country.  And in my case, my income is generated in the U.S. anyway.  

I believe the U.S. is one of the few countries that requires you to file regardless of which country you live in and even if you made $ 0 income. 

 

 

 

 

There’s an exemption so you’d pay no US taxes if you spend the whole year abroad as long as you make less than a certain amount. I believe that exemption was for like the first $120,000 you make, but it’s probably changed some since I checked last.

German citizenship is really valuable if you can get it too. I’d seriously consider that, then you could just move to Spain which is awesome.