Tuesday, September 29, 2009
Wednesday, September 23, 2009
MEXICO: Hopes for Medicare coverage in Mexico
Medicare is a key area within US health reform. Medicare does not pay for treatment overseas. Medicare has very strict guidelines on what hospitals it uses and how it pays them, so any country hoping for a Medicare paid medical tourism boom is going to be disappointed.
Of the 800,000 American citizens living in Mexico, 200,000 are over 60 years old and at or near eligibility for Medicare benefits. Last year, Paul Crist founded Americans for Medicare for Mexico (AMMAC), a non-profit organization dedicated to bringing Medicare coverage to seniors living in Mexico. Crist has lobbied 85 members of the U.S. Congress and prepared a 34-page proposal in which he outlines the pros of extending Medicare to Mexico, “Medicare is now spending $6700 per year per beneficiary in the United States. For the same care in Mexico, my estimate is that it will spend only $3400 dollars, which translates to a very substantial saving.” His argument is that if Medicare is extended to Mexico, the programme would only work with hospitals approved by JCI.This is one reason why there are now 10 JCI hospitals in Mexico, over 20 in the pipeline, and most new ones are built to JCI standards. Crist argues that if Medicare is accepted in Mexico, the 64 percent of American retirees currently flying back to the United States for expensive care would opt for treatment nearer their homes, cutting Medicare overall costs by a minimum of 22 percent.
Although the health sector is regulated and certified by the Mexican General Health Commission, the task of getting JCI certification for private hospitals is of prime importance. One of the main reasons for pushing for certification is that the North American Free Trade Agreement obligates the Mexican medical system to be on a par with the United States and Canada, allowing for the free flow of patients from border to border and for fair trade. The logic is that as long as hospitals are prepared to accept the delays and detail of the Medicare system, it makes sense for Medicare to accept JCI hospitals in Mexico. Crist argues that Mexican hospital standards are similar so Medicare should accept all hospitals. That argument falls on the basis that if the standards are similar, why are Mexican hospitals keen to spend substantial sums of money in getting JCI accreditation?
Whether Mexican heath care meets Medicare’s quality standards and payment system is debatable. The US government is concerned that creating a Mexican medical exemption might be too complicated and costly to implement and would open the door for Americans in other countries.
The approval of Medicare would greatly benefit hospitals such as Christus Muguerza, a Texas chain that now has seven hospitals under construction across Mexico. Even without a Medicare deal, most Americans seeking overseas treatment seem much happier travelling the short distance to Mexico than hopping on a plane to Asia .It is easy to forget that in the US, Hispanics are now the largest racial group.
Medical tourism news22 September 2009
Of the 800,000 American citizens living in Mexico, 200,000 are over 60 years old and at or near eligibility for Medicare benefits. Last year, Paul Crist founded Americans for Medicare for Mexico (AMMAC), a non-profit organization dedicated to bringing Medicare coverage to seniors living in Mexico. Crist has lobbied 85 members of the U.S. Congress and prepared a 34-page proposal in which he outlines the pros of extending Medicare to Mexico, “Medicare is now spending $6700 per year per beneficiary in the United States. For the same care in Mexico, my estimate is that it will spend only $3400 dollars, which translates to a very substantial saving.” His argument is that if Medicare is extended to Mexico, the programme would only work with hospitals approved by JCI.This is one reason why there are now 10 JCI hospitals in Mexico, over 20 in the pipeline, and most new ones are built to JCI standards. Crist argues that if Medicare is accepted in Mexico, the 64 percent of American retirees currently flying back to the United States for expensive care would opt for treatment nearer their homes, cutting Medicare overall costs by a minimum of 22 percent.
Although the health sector is regulated and certified by the Mexican General Health Commission, the task of getting JCI certification for private hospitals is of prime importance. One of the main reasons for pushing for certification is that the North American Free Trade Agreement obligates the Mexican medical system to be on a par with the United States and Canada, allowing for the free flow of patients from border to border and for fair trade. The logic is that as long as hospitals are prepared to accept the delays and detail of the Medicare system, it makes sense for Medicare to accept JCI hospitals in Mexico. Crist argues that Mexican hospital standards are similar so Medicare should accept all hospitals. That argument falls on the basis that if the standards are similar, why are Mexican hospitals keen to spend substantial sums of money in getting JCI accreditation?
Whether Mexican heath care meets Medicare’s quality standards and payment system is debatable. The US government is concerned that creating a Mexican medical exemption might be too complicated and costly to implement and would open the door for Americans in other countries.
The approval of Medicare would greatly benefit hospitals such as Christus Muguerza, a Texas chain that now has seven hospitals under construction across Mexico. Even without a Medicare deal, most Americans seeking overseas treatment seem much happier travelling the short distance to Mexico than hopping on a plane to Asia .It is easy to forget that in the US, Hispanics are now the largest racial group.
Medical tourism news22 September 2009
Saturday, September 19, 2009
Mexican Corporations- An Option for Holding Mexico Real Estate
Mexican Corporations- An Option for Holding Mexico Real Estate
The Sociedad Anonima de Capital Variable, translated literally is an anonymous society of variable capital. This is equivalent to the U.S. corporation in which there are stockholders. In Mexico it is governed by the Law of Mercantile Societies. More and more, foreigners are forming Mexican mercantile corporations which end with the initials, “S.A. de C.V.”, to do business, to achieve their financial goals and to purchase Real Estate in Mexico. The SA de CV is similar to the “Inc.” of the United States and Canada.
Another version of a corporate entity is the Limited Liability Company which has become more common in recent years. The Mexican counterpart is the SRL de CV, the Limited Responsibility company with variable capital. While there are differences between the S. A. de C. V. and the S.R.L. de C.V., for our purposes here, both are included under the term “corporation” in this article.
As of December1993, the corporation formed in Mexico is considered as “Mexican” even though all shareholders may be foreign persons.
When should a corporation be formed? It will make sense if the shareholders wish to perform services or sell goods for profit, build a hotel, or if they wish to develop a property for resale in lots or condominiums. These are all common options seen in my region, the La Paz real estate market. The corporate entity permits the principals to obtain working papers and to obtain working papers for other foreigners who provide services not easily obtained in the local job market. Care must be taken, however to set up the financial reporting system, to obtain invoices for all pre-operating expenses and to have an accountant who is knowledgeable to make the required declarations in Hacienda, Mexico’s version of Uncle Sam or Revenue Canada.
The minimum capital investment in a Mexican corporation is $50,000.00 Mexican pesos. Evidence of this capital contribution must be in cash or in assets which equal the total amount of the start up capital. It is important to make the declaration of all assets which are to be included from the start up of the corporation. Do not select the minimum amount just because it is the minimum. If you do it may later be difficult to establish the true amount of initial capital invested. Once the initial capital is established, additional investment may be added by making a declaration before a Notary Public, without requesting permission to do so from the government. This is the Variable Capital portion of the equation.
A minimum of two shareholders is required to form a corporation. These shareholders will be required to sign the corporate charter before a Mexican Notary Public. If they come into Mexico as tourists to sign the documents they should obtain an FM-3 or FMN document at their local Mexican Consulate prior to coming so they may perform a business activity (signing the document) in a legal manner. Once the corporation has been formed it is necessary to obtain a federal tax registration number for the corporation and the administrator or board of directors must obtain the FM-3 permit to work in the activities of the corporation.
If the corporation includes or is composed of foreign stockholders it will include a clause in which the foreigners promise to be considered as Mexicans in the eyes of the law and not to invoke the aid of their government in the event of a dispute.
Administration of matters of the corporation may be either through a sole administrator (administrador unico) or through a board of directors. A Comisario must be appointed. This is the person responsible for the accounts and tax payments and should be a Mexican accountant. The comisario does not need to be a shareholder. The duties of the administrators, whether sole administrator or board of directors need to be clearly defined. Will they be able to enter into lawsuits? Obligate the corporation for loans? Hire and fire personnel?
Generally it is wise to provide a list of five names, in order of preference, for the corporation for submission for the permit for incorporation. The first name which has not been used previously by another company will be designated. Upon confirmation of the name, the corporate documents must be prepared and signed before a Notary Public within ninety days or the authorized name will become invalid and the process must be begun again. Together with the name request, permission to incorporate, where foreigners are involved, must be obtained from SECOFI, the Secretary of Industry and Commerce.
Upon completion of the corporate document, it must be recorded in the local registry of Business and Commerce, the National Foreign Investment Registry and the business enrolled in the local Chamber of Commerce or Industry Chamber. Monthly declarations must be filed with tax authorities. Additionally, the corporate account must file an annual statement with the National Foreign Investment Registry regarding the business activity for the previous year. If the corporation is used for property development or is not active, the Mexican accountant will probably charge about $600 Dlls. per year to do the required filings. If the corporation is active the accounting charge may be $300. to $500 Dlls. per month, or more.
Author Linda Neil has over 35 years of hands on experience in all aspects of Mexican real estate. She holds membership in AMPI, NAR, and FIABCI and PROFECO Certificate 00063/96. Current member of the national advisory board of AMPI she is the owner broker of LINDA NEIL PROPERTIES for more information (512)-879-6546
The Sociedad Anonima de Capital Variable, translated literally is an anonymous society of variable capital. This is equivalent to the U.S. corporation in which there are stockholders. In Mexico it is governed by the Law of Mercantile Societies. More and more, foreigners are forming Mexican mercantile corporations which end with the initials, “S.A. de C.V.”, to do business, to achieve their financial goals and to purchase Real Estate in Mexico. The SA de CV is similar to the “Inc.” of the United States and Canada.
Another version of a corporate entity is the Limited Liability Company which has become more common in recent years. The Mexican counterpart is the SRL de CV, the Limited Responsibility company with variable capital. While there are differences between the S. A. de C. V. and the S.R.L. de C.V., for our purposes here, both are included under the term “corporation” in this article.
As of December1993, the corporation formed in Mexico is considered as “Mexican” even though all shareholders may be foreign persons.
When should a corporation be formed? It will make sense if the shareholders wish to perform services or sell goods for profit, build a hotel, or if they wish to develop a property for resale in lots or condominiums. These are all common options seen in my region, the La Paz real estate market. The corporate entity permits the principals to obtain working papers and to obtain working papers for other foreigners who provide services not easily obtained in the local job market. Care must be taken, however to set up the financial reporting system, to obtain invoices for all pre-operating expenses and to have an accountant who is knowledgeable to make the required declarations in Hacienda, Mexico’s version of Uncle Sam or Revenue Canada.
The minimum capital investment in a Mexican corporation is $50,000.00 Mexican pesos. Evidence of this capital contribution must be in cash or in assets which equal the total amount of the start up capital. It is important to make the declaration of all assets which are to be included from the start up of the corporation. Do not select the minimum amount just because it is the minimum. If you do it may later be difficult to establish the true amount of initial capital invested. Once the initial capital is established, additional investment may be added by making a declaration before a Notary Public, without requesting permission to do so from the government. This is the Variable Capital portion of the equation.
A minimum of two shareholders is required to form a corporation. These shareholders will be required to sign the corporate charter before a Mexican Notary Public. If they come into Mexico as tourists to sign the documents they should obtain an FM-3 or FMN document at their local Mexican Consulate prior to coming so they may perform a business activity (signing the document) in a legal manner. Once the corporation has been formed it is necessary to obtain a federal tax registration number for the corporation and the administrator or board of directors must obtain the FM-3 permit to work in the activities of the corporation.
If the corporation includes or is composed of foreign stockholders it will include a clause in which the foreigners promise to be considered as Mexicans in the eyes of the law and not to invoke the aid of their government in the event of a dispute.
Administration of matters of the corporation may be either through a sole administrator (administrador unico) or through a board of directors. A Comisario must be appointed. This is the person responsible for the accounts and tax payments and should be a Mexican accountant. The comisario does not need to be a shareholder. The duties of the administrators, whether sole administrator or board of directors need to be clearly defined. Will they be able to enter into lawsuits? Obligate the corporation for loans? Hire and fire personnel?
Generally it is wise to provide a list of five names, in order of preference, for the corporation for submission for the permit for incorporation. The first name which has not been used previously by another company will be designated. Upon confirmation of the name, the corporate documents must be prepared and signed before a Notary Public within ninety days or the authorized name will become invalid and the process must be begun again. Together with the name request, permission to incorporate, where foreigners are involved, must be obtained from SECOFI, the Secretary of Industry and Commerce.
Upon completion of the corporate document, it must be recorded in the local registry of Business and Commerce, the National Foreign Investment Registry and the business enrolled in the local Chamber of Commerce or Industry Chamber. Monthly declarations must be filed with tax authorities. Additionally, the corporate account must file an annual statement with the National Foreign Investment Registry regarding the business activity for the previous year. If the corporation is used for property development or is not active, the Mexican accountant will probably charge about $600 Dlls. per year to do the required filings. If the corporation is active the accounting charge may be $300. to $500 Dlls. per month, or more.
Author Linda Neil has over 35 years of hands on experience in all aspects of Mexican real estate. She holds membership in AMPI, NAR, and FIABCI and PROFECO Certificate 00063/96. Current member of the national advisory board of AMPI she is the owner broker of LINDA NEIL PROPERTIES for more information (512)-879-6546
Tuesday, September 15, 2009
Mexico Investment: The New Vogue
What with flu bugs and sensationalized press headlines about the drug war along the U.S. border, Mexico was in danger of slipping out of investment fashion.
But as we move out of the summer season and start looking at what’s new for this fall, it’s clear that Mexico investment is becoming the new vogue.
The beginning of August saw the press full of reports about big international companies making equally big investments in Mexico and others strengthening their business commitments.
Banks and financial service providers, such as Fitch and Morgan Stanley, have also given their thumbs up for a wide range of Mexico investment opportunities.
For the savvy emerging market investor, none of this should be such a surprise.
The global economy is showing signs of improvement, so this is exactly when you’d expect to see foreign cash starting to look for investment opportunities with higher returns.
So when wise market players, JP Morgan, decided to rate Mexico as their top pick for Latin American equities last month, eyes started to train themselves south of the border, seeking out the autumn season’s stylish new offering in Mexico investment.
Others that like what they see on the Mexico investment catwalk include Coca-Cola — who announced a $5 billion investment in Mexico over the next 5 years — and Spanish banking giant, Santander, who has invested $190 million in a new customer contact and service center in Queretaro, Mexico.
Other fashion-junkies joining the trend include General Motors — completing a Mexico investment of more than $1 million in a new customer service center — and British bank, HSBC — raising its recommendation for Mexican shares to “increase portfolio”.
The modish trend looks set to continue and expect more big names to jump into Mexico investment opportunities as the fall season moves into winter. Whether investing in Mexico businesses or real estate , this may be one hip new emerging market show that you don’t want to miss.
Article by Investment Properties Mexico, experts in Mexico investment.
http://www.investmentpropertiesmexico.com/
But as we move out of the summer season and start looking at what’s new for this fall, it’s clear that Mexico investment is becoming the new vogue.
The beginning of August saw the press full of reports about big international companies making equally big investments in Mexico and others strengthening their business commitments.
Banks and financial service providers, such as Fitch and Morgan Stanley, have also given their thumbs up for a wide range of Mexico investment opportunities.
For the savvy emerging market investor, none of this should be such a surprise.
The global economy is showing signs of improvement, so this is exactly when you’d expect to see foreign cash starting to look for investment opportunities with higher returns.
So when wise market players, JP Morgan, decided to rate Mexico as their top pick for Latin American equities last month, eyes started to train themselves south of the border, seeking out the autumn season’s stylish new offering in Mexico investment.
Others that like what they see on the Mexico investment catwalk include Coca-Cola — who announced a $5 billion investment in Mexico over the next 5 years — and Spanish banking giant, Santander, who has invested $190 million in a new customer contact and service center in Queretaro, Mexico.
Other fashion-junkies joining the trend include General Motors — completing a Mexico investment of more than $1 million in a new customer service center — and British bank, HSBC — raising its recommendation for Mexican shares to “increase portfolio”.
The modish trend looks set to continue and expect more big names to jump into Mexico investment opportunities as the fall season moves into winter. Whether investing in Mexico businesses or real estate , this may be one hip new emerging market show that you don’t want to miss.
Article by Investment Properties Mexico, experts in Mexico investment.
http://www.investmentpropertiesmexico.com/
Friday, September 11, 2009
BoomersAbroad.com Launches New online Mortgage Center for Mexico
BoomersAbroad.com, Online Community & Social Network was born in direct response to hundreds of conversations with retiring baby boomers who were seeking out a new life, exciting destinations, a better weather and a dream home. At Boomer Abroad Online Community we strive to fill the information gap and educate and update Baby Boomers on the news, trends and opportunities in Latin America. Our new Mortgage Center enables potential home buyers to search for loans, compare lenders, find the right mortgage product and interest rate, and begin the application process with a few clicks of the mouse.
Puerto Vallarta, Jalisco, Mexico – July 30, 2009.
Searching for Mexico mortgages in the past has been a frustrating process with continually changing guidelines by lenders and trying to find the right type of mortgage product. Also, finding an experienced mortgage broker to ensure a smooth closing and loan funding process has been a challenge due to the ever changing landscape!
BoomersAbroad.com Online Community had introduced a solution with its Mortgage Center, from MexicoMortgageFinder.com, which provides BoomersAbroad.com Online Community members, users and visitors with real time mortgage rates and monthly payment information.
The BoomersAbroad.com Mortgage Finder empowers those who are looking for mortgage products in Mexico, to immediately search a database of all available mortgages offered in the marketplace…property and credit profile specific. Once the perfect loan (purchase, cash out, construction) is found, immediate contact with the lender is made to begin the approval process. Or, if the consumer is still “house hunting”, they may save the loan details to his/her profile (on one or multiple properties)and return to the oomersAbroad.com web site to retrieve the saved loan details at a later date as the home buying process nears closing.
“We are truly excited to partner with BoomersAbroad.com as we feel they offer an incredible site which empowers ex-pats to be better informed when considering…and actually…moving abroad. Our technology enables BoomersAbroad.com Online Community members, users and visititors to see real time mortgage product and rate information and eliminate the confusion associated with finding the right mortgage option in Mexico,” says Jeff Davis, Director General of the Mexico Mortgage Marketplace.
“We have always been on the cutting edge of technology and the MexicoMortgageFinder.com program is a great addition to our website. Clients want to be able to get information immediately at any hour of the day in the comfort of their own home – that is possible with this technology. The added benefit is that MexicoMortgageFinder.com also works togther with loan brokers, so clients can still have a loan broker working for them as well if they wish. Loans are readily available in Mexico and this technology provides the opportunity for so many more buyers to purchase their dream home in Mexico”, says Luis Miranda, President of BoomersAbroad.com Online Community.
Membership for home buyers, realtors and developers in the BoomersAbroad,com Mortgage Marketplace is fast, free and easy. And it provides access to the entire database of Mexico Mortgage options. For more information on the BoomersAbroad.com Mortgage Marketplace, to search for the perfect loan for your dream home purchase, visit http://www.boomersabroad.com/
For more information about the BoomersAbroad.com Online Community and BoomersAbroad.com Mortgage Marketplace, please contact Luis Miranda at lmiranda@boomersabroad.com
About BoomersAbroad.com
BoomersAbroad.com is an Online Community & Social Network and was born in direct response to hundreds of conversations with retiring baby boomers who were seeking out a new life, exciting destinations, a better weather and a dream home. At Boomer Abroad Online Community we strive to fill the information gap and educate and update Baby Boomers on the news, trends and opportunities in Latin America”.
Using the online community model, our goal is to provide the necessary information, education, guidance, resources, tools and alternatives to start boomers down the path of discovering and understanding all that living, retiring and investing abroad has to offer. Everybody learns from everybody. We understand the proven power of collaboration. It is collective wisdom.
About the México Mortgage Marketplace.
Mexico Mortgage Marketplace, is a privately held Limited Liability Corporation located on Mexico’s Pacific coast city of Puerto Vallarta. The Company develops web-based technology which is used to automate processes for the banking, mortgage and real estate industries. In addition to technology development for its partners, the Company also owns and operates several web sites which are designed to streamline mortgage and real estate processes throughout Latin America and the Caribbean.
Puerto Vallarta, Jalisco, Mexico – July 30, 2009.
Searching for Mexico mortgages in the past has been a frustrating process with continually changing guidelines by lenders and trying to find the right type of mortgage product. Also, finding an experienced mortgage broker to ensure a smooth closing and loan funding process has been a challenge due to the ever changing landscape!
BoomersAbroad.com Online Community had introduced a solution with its Mortgage Center, from MexicoMortgageFinder.com, which provides BoomersAbroad.com Online Community members, users and visitors with real time mortgage rates and monthly payment information.
The BoomersAbroad.com Mortgage Finder empowers those who are looking for mortgage products in Mexico, to immediately search a database of all available mortgages offered in the marketplace…property and credit profile specific. Once the perfect loan (purchase, cash out, construction) is found, immediate contact with the lender is made to begin the approval process. Or, if the consumer is still “house hunting”, they may save the loan details to his/her profile (on one or multiple properties)and return to the oomersAbroad.com web site to retrieve the saved loan details at a later date as the home buying process nears closing.
“We are truly excited to partner with BoomersAbroad.com as we feel they offer an incredible site which empowers ex-pats to be better informed when considering…and actually…moving abroad. Our technology enables BoomersAbroad.com Online Community members, users and visititors to see real time mortgage product and rate information and eliminate the confusion associated with finding the right mortgage option in Mexico,” says Jeff Davis, Director General of the Mexico Mortgage Marketplace.
“We have always been on the cutting edge of technology and the MexicoMortgageFinder.com program is a great addition to our website. Clients want to be able to get information immediately at any hour of the day in the comfort of their own home – that is possible with this technology. The added benefit is that MexicoMortgageFinder.com also works togther with loan brokers, so clients can still have a loan broker working for them as well if they wish. Loans are readily available in Mexico and this technology provides the opportunity for so many more buyers to purchase their dream home in Mexico”, says Luis Miranda, President of BoomersAbroad.com Online Community.
Membership for home buyers, realtors and developers in the BoomersAbroad,com Mortgage Marketplace is fast, free and easy. And it provides access to the entire database of Mexico Mortgage options. For more information on the BoomersAbroad.com Mortgage Marketplace, to search for the perfect loan for your dream home purchase, visit http://www.boomersabroad.com/
For more information about the BoomersAbroad.com Online Community and BoomersAbroad.com Mortgage Marketplace, please contact Luis Miranda at lmiranda@boomersabroad.com
About BoomersAbroad.com
BoomersAbroad.com is an Online Community & Social Network and was born in direct response to hundreds of conversations with retiring baby boomers who were seeking out a new life, exciting destinations, a better weather and a dream home. At Boomer Abroad Online Community we strive to fill the information gap and educate and update Baby Boomers on the news, trends and opportunities in Latin America”.
Using the online community model, our goal is to provide the necessary information, education, guidance, resources, tools and alternatives to start boomers down the path of discovering and understanding all that living, retiring and investing abroad has to offer. Everybody learns from everybody. We understand the proven power of collaboration. It is collective wisdom.
About the México Mortgage Marketplace.
Mexico Mortgage Marketplace, is a privately held Limited Liability Corporation located on Mexico’s Pacific coast city of Puerto Vallarta. The Company develops web-based technology which is used to automate processes for the banking, mortgage and real estate industries. In addition to technology development for its partners, the Company also owns and operates several web sites which are designed to streamline mortgage and real estate processes throughout Latin America and the Caribbean.
Do “In Demand” U.S. Jobs = Expat Jobs in Mexico?
By: Khaki Scott
Simply finding a job in Mexico is not a career destination. Finding a job in Mexico that pays enough to leave plenty left over for investing in Mexican real estate is the next best thing to finding Nirvana. The three most active job markets in the U.S. today are Health Care, Information Technology, and the catch-all phrase of Professional Services. In order to immigrate to Mexico, foreigners must prove that they have an income of approximately $1,500 USD per month, depending on the current exchange rate. In addition, Mexico does not hire foreigners unless it is for a position for which no Mexican worker can be found. This investigation will look at the most sought after skills north of the border and give Americans and Canadians an idea of whether or not training in these areas will win them a successful career in Mexico.
There is a great need for Home Health Aides in the U.S. and the pay is low but rising because it is cheaper to hire home health aides than to support people in nursing homes. This job does not translate well to a job in Mexico because the Mexican culture, as a whole, produces service-oriented citizens and English is now required in schools. This means these jobs all go to Mexican citizens at Mexican rates of pay. American Home Health Aides, if they can find a job, will be paid Mexican wages and will not earn enough to even meet immigration income requirements, much less be able to invest in real estate.
Medical Assistants, such as Nurse Practitioners and Physician Assistants, are in a great position in the U.S., in Canada and in Mexico. The key here is learning Spanish and then hiring out to a Spanish-speaking specialist in Mexico as a liason to English-speaking patients. Medical tourism, plus an exploding population of resident expats, is making this a great job for Americans who opt to live south of the border. School is no cake-walk, but the option to live and invest where one chooses is the prize for finishing – and what a prize it is!
Mental Health Counselors and Social Workers are also in a good position both north and south of the border. The demand for psychologists is growing, especially as baby-boomers age. With the proper documentation, psychologists can develop quite nice practices in areas in Mexico that have a large expat community. Social workers would do well to get nursing home experience north of the border and then look for those same positions in the growing American assisted living and nursing home community in Mexico. These careers also require a degree and speaking Spanish would be a huge plus here as well. Medicare will soon be coming to Mexico, so keep these career areas in mind.
Information Technology does not translate well to finding a job in Mexico because Mexico is the Godzilla of Information Technology in the 21st century. However, this does not mean that there are no jobs for Americans in this area in Mexico. One could, given time and financial backing, build quite a nice web design practice. It would be tough going and many fall by the wayside, but it can be done. The best IT jobs are the remote positions in which Network Systems and Data Analysts work for American companies online, get paid in dollars, and are allowed to live anywhere in the world they want to live. This is a highly competitive job market and a degree in Information Technology or Computer Programming is a must.
Professional Services included careers such as: paralegals, financial services, accountants and auditors. Many Americans think there would be opportunities for them as paralegals in Mexico. This is probably not the case because a rapidly growing segment of the Mexican legal community is bilingual. Financial services does offer an open career path but, like Web Design, would take a good deal of financial backing, time and proximity to large expat communities to build a successful practice. Accounting, on the other hand, coupled with a little financial services background, is a real winner for the potential expat. American and Canadian expats both need tax experts with whom they feel comfortable. If that tax person just so happens to know their way around Social Security rules and how to use IRA money to purchase investment property, then so much the better! This is a wide-open field that is just coming into its own for American and Canadian accountants who want to live in Mexico. All of the professional services careers require a degree and, if the career seeker is planning on moving to Mexico, the ability to speak Spanish is strongly recommended.
The best future opportunity for gringos in Mexico is the one that is now expected to become the fastest growing segment of the professional and business services sector: Employment Services. A degree in Human Resource Management and the ability to speak Spanish translates here to having one’s finger on the pulse of every expat job market in Mexico. Here too there are online jobs with some of the largest employment companies in the world. They need recruiters and placement specialists who will be paid in U.S. dollars and are allowed to live anywhere they want to live. Although this too is a competitive environment, its rewards make it well worth investigating.
Understanding the Mexican culture, the south of the border job market and its rules, and what Americans are and are not allowed to do in Mexico will make it easier than ever before for younger Americans and Canadians to make the leap into a new life in Mexico, where investing in a secure future is still a reality and where the quality of life is better than ever.
Resource: Ten Careers That Make Employers Look for You
Simply finding a job in Mexico is not a career destination. Finding a job in Mexico that pays enough to leave plenty left over for investing in Mexican real estate is the next best thing to finding Nirvana. The three most active job markets in the U.S. today are Health Care, Information Technology, and the catch-all phrase of Professional Services. In order to immigrate to Mexico, foreigners must prove that they have an income of approximately $1,500 USD per month, depending on the current exchange rate. In addition, Mexico does not hire foreigners unless it is for a position for which no Mexican worker can be found. This investigation will look at the most sought after skills north of the border and give Americans and Canadians an idea of whether or not training in these areas will win them a successful career in Mexico.
There is a great need for Home Health Aides in the U.S. and the pay is low but rising because it is cheaper to hire home health aides than to support people in nursing homes. This job does not translate well to a job in Mexico because the Mexican culture, as a whole, produces service-oriented citizens and English is now required in schools. This means these jobs all go to Mexican citizens at Mexican rates of pay. American Home Health Aides, if they can find a job, will be paid Mexican wages and will not earn enough to even meet immigration income requirements, much less be able to invest in real estate.
Medical Assistants, such as Nurse Practitioners and Physician Assistants, are in a great position in the U.S., in Canada and in Mexico. The key here is learning Spanish and then hiring out to a Spanish-speaking specialist in Mexico as a liason to English-speaking patients. Medical tourism, plus an exploding population of resident expats, is making this a great job for Americans who opt to live south of the border. School is no cake-walk, but the option to live and invest where one chooses is the prize for finishing – and what a prize it is!
Mental Health Counselors and Social Workers are also in a good position both north and south of the border. The demand for psychologists is growing, especially as baby-boomers age. With the proper documentation, psychologists can develop quite nice practices in areas in Mexico that have a large expat community. Social workers would do well to get nursing home experience north of the border and then look for those same positions in the growing American assisted living and nursing home community in Mexico. These careers also require a degree and speaking Spanish would be a huge plus here as well. Medicare will soon be coming to Mexico, so keep these career areas in mind.
Information Technology does not translate well to finding a job in Mexico because Mexico is the Godzilla of Information Technology in the 21st century. However, this does not mean that there are no jobs for Americans in this area in Mexico. One could, given time and financial backing, build quite a nice web design practice. It would be tough going and many fall by the wayside, but it can be done. The best IT jobs are the remote positions in which Network Systems and Data Analysts work for American companies online, get paid in dollars, and are allowed to live anywhere in the world they want to live. This is a highly competitive job market and a degree in Information Technology or Computer Programming is a must.
Professional Services included careers such as: paralegals, financial services, accountants and auditors. Many Americans think there would be opportunities for them as paralegals in Mexico. This is probably not the case because a rapidly growing segment of the Mexican legal community is bilingual. Financial services does offer an open career path but, like Web Design, would take a good deal of financial backing, time and proximity to large expat communities to build a successful practice. Accounting, on the other hand, coupled with a little financial services background, is a real winner for the potential expat. American and Canadian expats both need tax experts with whom they feel comfortable. If that tax person just so happens to know their way around Social Security rules and how to use IRA money to purchase investment property, then so much the better! This is a wide-open field that is just coming into its own for American and Canadian accountants who want to live in Mexico. All of the professional services careers require a degree and, if the career seeker is planning on moving to Mexico, the ability to speak Spanish is strongly recommended.
The best future opportunity for gringos in Mexico is the one that is now expected to become the fastest growing segment of the professional and business services sector: Employment Services. A degree in Human Resource Management and the ability to speak Spanish translates here to having one’s finger on the pulse of every expat job market in Mexico. Here too there are online jobs with some of the largest employment companies in the world. They need recruiters and placement specialists who will be paid in U.S. dollars and are allowed to live anywhere they want to live. Although this too is a competitive environment, its rewards make it well worth investigating.
Understanding the Mexican culture, the south of the border job market and its rules, and what Americans are and are not allowed to do in Mexico will make it easier than ever before for younger Americans and Canadians to make the leap into a new life in Mexico, where investing in a secure future is still a reality and where the quality of life is better than ever.
Resource: Ten Careers That Make Employers Look for You
Medicare In Mexico
By Richard C. Morais, Forbes.com
American retirees push Congress to allow Medicare benefits in Mexico
WASHINGTON -- The U.S. government should pick up the cost of health care for the elderly Americans living in Mexico. That's the gist of a new lobbying effort aimed at pushing Washington into covering foreign medical expenses for the first time via its sprawling Medicare programs. There are over 1 million U.S. citizens living south of the border, many of them retirees.
The government's current position is that retired citizens cannot claim benefits for medical treatments received overseas, even if they paid into the Medicare system during their working lives.
The U.S. government is worried that creating a Mexican Medicare exemption might be too complicated and costly to implement and would open the door for Americans in countries as far afield as Poland and Thailand to press for similar benefits, according to David Warner, a professor of health care policy at the University of Texas at Austin and a specialist on Medicare in Mexico.
Paul Crist, a former aid to Sen. Paul Sarbanes, D-Md., now running a hotel in Puerto Vallarta, Mexico, isn't buying it. Last March, Crist founded the non-profit Americans For Medicare In Mexico. The American businessman has since lobbied 85 members in the U.S. Congress to get Medicare accepted south of the border.
It is Mexico's unique proximity to America that makes the whole process economically viable, he says. The current inflexible Medicare benefits system is the reason why 64% of retired Americans in Mexico currently return to the U.S. for medical treatment; the remaining U.S. retirees are getting treated in Mexico but picking up the costs themselves.
They can pay out-of-pocket because "health care is extremely affordable in Mexico with or without health insurance," as are "comprehensive private insurance policies," according to MedToGo.com, a Web site owned and operated by U.S. physicians.
Comment On This Story
An office visit to a doctor in a Mexican city typically runs between $30 and $40, according to MedToGo, while a hospital room costs $90 to $100 a night. Besides private health care insurance, the Mexican Institute of Social Security (which goes by the Spanish initials IMSS) provides affordable, if basic, health insurance for all Mexican residents, regardless of nationality. Studies suggest that health care services are 70% less expensive in Mexico than in the U.S.
If Medicare were accepted in Mexico, the 64% of American retirees currently flying back to the U.S. for expensive care would instead opt for treatment nearer their homes, cutting Medicare's overall costs by a minimum of 22% net, Crist figures. The Mexican government, hoping to lure more retirees from the U.S., including those born in Mexico, is largely open to accepting Medicare, says Professor Warner.
So is the U.S. Congress, claims Crist. "Response has been quite positive, especially on the House side," he says.
But the offices of Reps. Jim McDermott, D-Wash., Carolyn Maloney, D-N.Y., and other sympathetic legislators have also told Crist that this year they have too much on their plate, and that it would be politically wiser to introduce a stand-alone Mexico-Medicare bill next year, separate from the complex health care reform package currently working its way through Capitol Hill.
Professor Warner, who also supports the granting of Medicare coverage in Mexico, says an in-depth three-year Mexico-Medicare pilot project is needed to better understand the economics, determine whether Mexican health care meets Medicare's quality standards and determine if the payment system is sufficiently free of fraud.
"I don't think it need be a big deal," he adds. "The Center for Medicare & Medicaid Services ... is taking the position that Congress has to give it [a special] waiver to pay overseas. But this does not require a large appropriation of money. If any."
While AARP, the retiree interest group, has yet to take a position and did not respond to Forbes' request for comment, Crist's lobbying efforts appear to be picking up support, including from real estate developers hoping to build assisted-living villages for American retirees in Mexico and influential lobbying groups, including the Association of Americans Resident Overseas.
The association and others are instructing members to send letters to their congressional representatives, urging that at minimum a demonstration project be undertaken to study the consequences of accepting Medicare benefits in Mexico.
"As an American who has worked outside the USA, I will be eligible for Medicare benefits, having paid for them during my working life. Because I live outside the USA, however, I will not be able to receive these benefits in the country where I live," one letter from the AARO states.
In a year when U.S. politicians have been battered by constituents' claims that the U.S. government is trying to take away their medical choices, a potentially cost-saving pilot allowing for more choice in Medicare seems, on the surface, a political slam-dunk.
It would also help ease immigration pressure: Long-term U.S. residents who were born in Mexico, and are interested in returning when they retire, would no longer be reluctant to do so for fear of losing their Medicare benefits.
American retirees push Congress to allow Medicare benefits in Mexico
WASHINGTON -- The U.S. government should pick up the cost of health care for the elderly Americans living in Mexico. That's the gist of a new lobbying effort aimed at pushing Washington into covering foreign medical expenses for the first time via its sprawling Medicare programs. There are over 1 million U.S. citizens living south of the border, many of them retirees.
The government's current position is that retired citizens cannot claim benefits for medical treatments received overseas, even if they paid into the Medicare system during their working lives.
The U.S. government is worried that creating a Mexican Medicare exemption might be too complicated and costly to implement and would open the door for Americans in countries as far afield as Poland and Thailand to press for similar benefits, according to David Warner, a professor of health care policy at the University of Texas at Austin and a specialist on Medicare in Mexico.
Paul Crist, a former aid to Sen. Paul Sarbanes, D-Md., now running a hotel in Puerto Vallarta, Mexico, isn't buying it. Last March, Crist founded the non-profit Americans For Medicare In Mexico. The American businessman has since lobbied 85 members in the U.S. Congress to get Medicare accepted south of the border.
It is Mexico's unique proximity to America that makes the whole process economically viable, he says. The current inflexible Medicare benefits system is the reason why 64% of retired Americans in Mexico currently return to the U.S. for medical treatment; the remaining U.S. retirees are getting treated in Mexico but picking up the costs themselves.
They can pay out-of-pocket because "health care is extremely affordable in Mexico with or without health insurance," as are "comprehensive private insurance policies," according to MedToGo.com, a Web site owned and operated by U.S. physicians.
Comment On This Story
An office visit to a doctor in a Mexican city typically runs between $30 and $40, according to MedToGo, while a hospital room costs $90 to $100 a night. Besides private health care insurance, the Mexican Institute of Social Security (which goes by the Spanish initials IMSS) provides affordable, if basic, health insurance for all Mexican residents, regardless of nationality. Studies suggest that health care services are 70% less expensive in Mexico than in the U.S.
If Medicare were accepted in Mexico, the 64% of American retirees currently flying back to the U.S. for expensive care would instead opt for treatment nearer their homes, cutting Medicare's overall costs by a minimum of 22% net, Crist figures. The Mexican government, hoping to lure more retirees from the U.S., including those born in Mexico, is largely open to accepting Medicare, says Professor Warner.
So is the U.S. Congress, claims Crist. "Response has been quite positive, especially on the House side," he says.
But the offices of Reps. Jim McDermott, D-Wash., Carolyn Maloney, D-N.Y., and other sympathetic legislators have also told Crist that this year they have too much on their plate, and that it would be politically wiser to introduce a stand-alone Mexico-Medicare bill next year, separate from the complex health care reform package currently working its way through Capitol Hill.
Professor Warner, who also supports the granting of Medicare coverage in Mexico, says an in-depth three-year Mexico-Medicare pilot project is needed to better understand the economics, determine whether Mexican health care meets Medicare's quality standards and determine if the payment system is sufficiently free of fraud.
"I don't think it need be a big deal," he adds. "The Center for Medicare & Medicaid Services ... is taking the position that Congress has to give it [a special] waiver to pay overseas. But this does not require a large appropriation of money. If any."
While AARP, the retiree interest group, has yet to take a position and did not respond to Forbes' request for comment, Crist's lobbying efforts appear to be picking up support, including from real estate developers hoping to build assisted-living villages for American retirees in Mexico and influential lobbying groups, including the Association of Americans Resident Overseas.
The association and others are instructing members to send letters to their congressional representatives, urging that at minimum a demonstration project be undertaken to study the consequences of accepting Medicare benefits in Mexico.
"As an American who has worked outside the USA, I will be eligible for Medicare benefits, having paid for them during my working life. Because I live outside the USA, however, I will not be able to receive these benefits in the country where I live," one letter from the AARO states.
In a year when U.S. politicians have been battered by constituents' claims that the U.S. government is trying to take away their medical choices, a potentially cost-saving pilot allowing for more choice in Medicare seems, on the surface, a political slam-dunk.
It would also help ease immigration pressure: Long-term U.S. residents who were born in Mexico, and are interested in returning when they retire, would no longer be reluctant to do so for fear of losing their Medicare benefits.
Saturday, September 5, 2009
Baby Boomers Will Drive Real Estate Growth
Baby boomers have been a driving force in many areas of the economy, culture and consumer attitudes for several decades. As the oldest boomers approach retirement in the next few years they will begin contemplating not just whether to retire, but also where they want to live in the next stage of their life. One big component of this decision is the housing choices that boomers will make as they decide whether to sell a home, relocate or invest in real estate.
As a group, baby boomers comprise the largest population cohort in the history of the United States & Canada. The size of the group gives it vast influence over North American politics, popular cultural, and of course, real estate & interantional real estate.
To evaluate the influence of the baby boomers on the future of real estate, the National Association of Realtors (NAR) conducted a study in 2006. The findings of the research were published in report entitled Baby Boomers and Real Estate: Today and Tomorrow.
Even that the study is from 2006, and that we have lived tremendous times lately, that is exactly why the name of the study was "Baby Boomers and Real Estate: Today and Tomorrow". Demographics are demographics, and Baby Boomers are Baby Boomers. "Baby Boomers are the most powerful consumers in the marketplace today and will continue to be, regradless of the economic climate, for many years to come." - say David Weigelt & Jonathan Boehman in their great Book "Dot Boom."
Below are some highlights from the NAR study.
AGE DISTRBUTION
According to the NAR report, baby boomers now range in age from 42 to 60 years old. The typical baby boomer is 50 years old, and the oldest of the baby boomers turned 60 in 2006. About 46% of baby boomers are in their 40s, and about 25% are at least 55 years old.
HOUSEHOLD INCOME
As a group, baby boomers are in their peak earning years. In 2005, baby boomers had a household income of $64,700, and about 25% them had a household income of at least $100,000 per year.
HOME OWNERSHIP
About 78% of baby boomers own a home, which is higher than the national ownership rate of 69%. About 96% of baby boomers believe that home ownership is a good financial investment.
FUTURE REAL ESTATE PURCHASES
About 10%, or 7.8 million of all baby boomers, said they were likely to purchase additional real estate in the next 12 months. Of these potential buyers, two-thirds were planning on buying a primary residence, 26% want to buy land, 19% want rental property, 15% want a vacation home or seasonal home, and 14% want a commercial property.
WHAT FEATURES ATTRACT BOOMERS
When baby boomers were asked about what features are most important to them, 38% wanted a lower cost of living, 38% wanted to be near family, 38% wanted easy access to quality health care, 37% wanted a better climate, and 36% wanted to be near a body of water.
PREFERRED COMMUNITY AMENITIES
When baby boomers were asked about the type of community amenities that interest them most, about 18% wanted to be near cultural offerings, 9% wanted to be closer to their family, 4% wanted to be on a golf course, and 3% wanted easy access to educational facilities.
WHERE DO BOOMERS WANT TO RETIRE
When baby boomers were asked about where they want to retire, 33% of them want to retire in a rural area, 30% in a small town, 25% in a suburban area, and only 12% in an urban community.
BOOMERS AND THEIR REAL ESTATE AGENTS
Baby boomers consistently use the services of a real estate agent. Approximately 60% of homebuyers and 79% of home sellers used a real estate agent in their last transaction.
SUMMARY
The baby boomers have had and will continue to have a significant impact on the real estate market. As the boomers near retirement, they continue to value real estate and will continue to invest in properties and land. Real estate agents would be well served to understand what baby boomers want in terms of their real estate investments, and design strategies that target the needs of this enormous population cohort. For more information, read the NAR report entitled, Baby Boomers and Real Estate: Today and Tomorrow
As a group, baby boomers comprise the largest population cohort in the history of the United States & Canada. The size of the group gives it vast influence over North American politics, popular cultural, and of course, real estate & interantional real estate.
To evaluate the influence of the baby boomers on the future of real estate, the National Association of Realtors (NAR) conducted a study in 2006. The findings of the research were published in report entitled Baby Boomers and Real Estate: Today and Tomorrow.
Even that the study is from 2006, and that we have lived tremendous times lately, that is exactly why the name of the study was "Baby Boomers and Real Estate: Today and Tomorrow". Demographics are demographics, and Baby Boomers are Baby Boomers. "Baby Boomers are the most powerful consumers in the marketplace today and will continue to be, regradless of the economic climate, for many years to come." - say David Weigelt & Jonathan Boehman in their great Book "Dot Boom."
Below are some highlights from the NAR study.
AGE DISTRBUTION
According to the NAR report, baby boomers now range in age from 42 to 60 years old. The typical baby boomer is 50 years old, and the oldest of the baby boomers turned 60 in 2006. About 46% of baby boomers are in their 40s, and about 25% are at least 55 years old.
HOUSEHOLD INCOME
As a group, baby boomers are in their peak earning years. In 2005, baby boomers had a household income of $64,700, and about 25% them had a household income of at least $100,000 per year.
HOME OWNERSHIP
About 78% of baby boomers own a home, which is higher than the national ownership rate of 69%. About 96% of baby boomers believe that home ownership is a good financial investment.
FUTURE REAL ESTATE PURCHASES
About 10%, or 7.8 million of all baby boomers, said they were likely to purchase additional real estate in the next 12 months. Of these potential buyers, two-thirds were planning on buying a primary residence, 26% want to buy land, 19% want rental property, 15% want a vacation home or seasonal home, and 14% want a commercial property.
WHAT FEATURES ATTRACT BOOMERS
When baby boomers were asked about what features are most important to them, 38% wanted a lower cost of living, 38% wanted to be near family, 38% wanted easy access to quality health care, 37% wanted a better climate, and 36% wanted to be near a body of water.
PREFERRED COMMUNITY AMENITIES
When baby boomers were asked about the type of community amenities that interest them most, about 18% wanted to be near cultural offerings, 9% wanted to be closer to their family, 4% wanted to be on a golf course, and 3% wanted easy access to educational facilities.
WHERE DO BOOMERS WANT TO RETIRE
When baby boomers were asked about where they want to retire, 33% of them want to retire in a rural area, 30% in a small town, 25% in a suburban area, and only 12% in an urban community.
BOOMERS AND THEIR REAL ESTATE AGENTS
Baby boomers consistently use the services of a real estate agent. Approximately 60% of homebuyers and 79% of home sellers used a real estate agent in their last transaction.
SUMMARY
The baby boomers have had and will continue to have a significant impact on the real estate market. As the boomers near retirement, they continue to value real estate and will continue to invest in properties and land. Real estate agents would be well served to understand what baby boomers want in terms of their real estate investments, and design strategies that target the needs of this enormous population cohort. For more information, read the NAR report entitled, Baby Boomers and Real Estate: Today and Tomorrow
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