Any Canadians who have retired/immigrated to Cozumel?

[cvchief]

It was my understanding that the restriction on foreign ownership is in the MX constitution. I was told the Fide route was created to allow foreign investment in the coastal areas without changing the constitution, ownership that technically isn't owned, more or less.

 

[BettyfromToronto]

Chief: Noticed your place Casa De Jefe is in Las Ventanas. Do they allow dogs? An are the condo fees the same for all units and can you share that with me?

Thanks
Betty

 

[Karibelle]

Betty, if you deal with a realtor, he should be able to provide info on condo fees in various locations so you could compare, and whether pets are okay... do not be afraid to ask lots of questions. that's what they're there for! Of course, I realize that here is good too, and cvchief will be able to offer a personal view. Good luck! Sorry we're going to miss each other in November.

 

[cvchief]

Chief: Noticed your place Casa De Jefe is in Las Ventanas. Do they allow dogs? An are the condo fees the same for all units and can you share that with me?

Thanks
Betty

Yes they allow animals for owners only I believe. We have a few dogs around. HOA is around 600 a quarter or 7,685 pesos. The only difference is for those that own garages who pay a little more. We do sometimes have small special assessments for projects. We just collected voluntary contributions for a nice dive gear and rinse tank set up by the pool. Hoping it will be done by December! I believe they expect they fee to go down some as more units are sold. We still have a few unsold units. Anything else I can tell you about them, let me know.

 

[Karibelle]

Have you booked your december dates, chief? I missed you in August, but hope to say hello next time.

 

[Mike]

It was my understanding that the restriction on foreign ownership is in the MX constitution. I was told the Fide route was created to allow foreign investment in the coastal areas without changing the constitution, ownership that technically isn't owned, more or less.

Correcto.

 

[cvchief]

Have you booked your december dates, chief? I missed you in August, but hope to say hello next time.

Yes! 12/4-13. Gonna do the fm3 I think. I WILL be setting up an El Moro night.

 

[Karibelle]

I hear El Moro has a pool table. You might see a whole new level of awful from me.

 

[BettyfromToronto]

So I have spent the whole weekend researching moving to Mexico. One thing I think I see is that the bank trust to buy property is about $500 to set-up plus additional fees (lawyers, notary, etc.) and then $500 every year. So I tell hubby and he complains. Says it is like a tax; non refundable.

I am like what???

Hong Kong flat - 700 sq feet for $350,000 Canadian
Cozumel house - 1000-1500 sq ft (?) for <$250,000 Canadian. Maybe even a pool

Difference $100K. Even minus $30,000 for the 30 years cost of this trust we are still WAY AHEAD.

Or am I missing something????

Also he thinks we'll never dive anywhere else but Coz. Hmm agree HK is the gateway to all of diving in the Pacific, Asia & Australia but how hard is it to get off of Cozumel to go elsewhere? Like the rest of the Caribbean. There doesn't seem to be any direct flights. Everything is through the US. Hmm that mean no locking of luggage. We don't like that. Can you go from Mexico City to other Caribbean islands? I like that you don't have to go on a dive vacation to dive. You just go for a morning; as many times in a month as you can afford.

Also still need to look at the capital gains thing when you sell. In Canada there is none if it is your primary resident. Haven't seen that here. Also, why would we sell? We'd probably die there and have to leave the house to a relative in our will.

So much to still research but it will be nice to be there in November and again in January to check out these things first hand with people who have done it before us.

Thanks for any and all insight provided.

Betty

 

[MMM]

I know the Americans we bought our Cozumel house from were fussing about the capital gains tax they needed to pay but I don't know whether that was to US gov't or Mexican. Probably the former. I can't imagine that Mexican taxes would approach those of Hong Kong. FWIW, my fideo is closer to $1000 US annually. Maybe it's because we are in El Centro. Annual taxes are about $100 US. How does that compare to Hong Kong? And how much does it cost to eat in Hong Kong? I can eat out in Cozumel for between $5-10 for a "normal meal" and $30 for a splurge.

I haven't looked but would imagine that you could get to other Caribbean islands from Cancun. But frankly I could dive every day in Cozumel and general vicinity and not feel any need to go anywhere else. That's personal, obviously.