How to move to Mexico from Canada

Many Canadians looking for a warmer climate, a slower pace of life, and lower costs of living typically have Mexico at the top of their list. With so many beautiful beaches, vibrant cities, and friendly people, considering a move is an easy decision. But when it comes to navigating the process, things can get a little more challenging. In this guide, we’ll be looking at getting the right visa, monthly and moving expenses, and how Wise can help convert CAD to MXN and transfer it internationally at the mid-market exchange rate.

What are the administrative essentials for moving to Mexico from Canada?

To start your move, you’ll typically need to get the right residence permit or visa, depending on your situation and purpose, whether for work, retirement, or entrepreneurship. However, Mexico doesn’t have specific visas for specific purposes; rather, it has a general temporary resident visa.

Planning to stay in Mexico for over 180 days but under 4 years? You’ll need a temporary resident visa. After those consecutive 4 years, you can apply to exchange that temporary residency status for permanent residency status.^1,2

When your residency status changes, your tax obligations will be affected. Working with a professional tax advisor will help you stay compliant and allow you to learn about the Mexican tax system and how it differs from Canada.

Things to take care of in Canada before moving to Mexico

Before the move, you’ll need to settle certain matters in Canada, so you avoid dealing with challenges when you’re already out of the country. Here are some essential things to take care of:

• Let authorities like banks, credit card companies, insurance providers, and the CRA know of your change in residency status and about your move.
• Close all bank accounts if you don’t have any more financial obligations in Canada.
• Transfer necessary funds to a dedicated Mexican account, whether a bank account or a modern multi-currency account like Wise, to convert and hold CAD and MXN in the same account.
• Use Canada Post’s mail forwarding service to redirect all mail to your new address in Mexico.
• Get all necessary medical records to make sure you avoid any disruptions in treatment and that healthcare professionals can provide services accordingly.
• Cancel any subscriptions or memberships that are only usable in Canada and not internationally.
• Get the right documents to relocate any pets, including an original and certified copy of a veterinary health certificate issued within 15 days before travel. Your pet also needs to enter Mexico in a clean container or conveyor without a bed or accessories.³ Some airlines allow pets in the cabin, including Air Canada and Aeromexico, as long as you register your pet in advance.

Travel expenses for flying from Canada to Mexico

Depending on where you’re departing from in Canada and where you’ll be arriving in Mexico, flight prices will vary:

As you can see, prices can vary, and they usually depend on the following:

• How far in advance you book
• When you’re travelling, factoring in the holidays
• Time of day and day of the week your flight is scheduled
• Whether it’s a direct flight or one with layovers

The price ranges listed above exclude outliers, like flights during the holiday season.

Preparing for your stay in Mexico before leaving Canada

Your bags are packed, and you’re ready to hop on that life-changing flight. But what happens when you get there? Everyday life is going to take some time to get adjusted to, including managing your monthly expenses and getting around your new city. Let’s take a look at some areas you’ll want to focus on when settling in.

Estimation of monthly expenses

Each city comes with a different cost of living standard, similar to Canada. Here are some numbers to get you situated.

Compared to many major Canadian cities, Mexican cities have the benefit of having a lower cost of living. However, smaller cities and towns may come with a bit of culture shock, especially if you aren’t familiar with the country. If you don’t speak Spanish, you may have a hard time navigating more rural areas. Traffic can be chaotic, and street food dining experiences may not be what you expect. Give everything a chance, though, and you’ll open yourself up to the vibrant world of Mexican culture and cuisine.

Get more out of your money with Wise

One of the biggest changes you’ll have to navigate on a daily basis is your finances. With Wise, you can seamlessly move money while avoiding any unnecessary fees that might be imposed by banks and other money transfer providers. Every Wise transfer is made using the mid-market exchange rate, with no markups involved. Transfer fees start at 0.33%^*, allowing you to get more value from each transaction.¹¹

Transportation in Mexico

There are plenty of ways to get around Mexico, with railways, a well-connected bus network, and other types of local transport that cater to all budgets. Although you can book cars and rent cars, most people prefer to take the bus, whether they’re travelling within a city or want to get to smaller towns and remote areas. In Mexico City, you can also take the metro or the metrobus, which is considered the quickest way to navigate the city. If you’re planning to rent a car, make sure to avoid driving late at night and be aware of busy traffic.

Health insurance plans in Mexico

Mexico has a public healthcare system similar to Canada, known as the Instituto Mexicano de Seguro Social or IMSS. It’s the national healthcare system that covers various services and prescription medications, where employed people are automatically enrolled. Many expats, however, opt for private health insurance to avoid long wait times and to get more coverage options. Popular choices include Cigna Global and Allianz Care.

Final thoughts on moving to Mexico from Canada

Moving to Mexico might be just what you need if you’re looking for a new adventure. In such a beautiful country, you’ll quickly feel at home once you adjust to the initial culture shock. Building a new life in Mexico means staying on top of visa requirements, finding the right insurance, and managing your finances seamlessly. With Wise, you can transfer money at low fees and avoid hidden currency markups.

Sources:

1. Temporary Resident Visa
2. Temporary and Permanent Residency in Mexico
3. Taking Pets to Mexico
4. Cost of Living in Monterrey
5. Cost of Living in Mexico City
6. Cost of Living in Merida
7. Cost of Living in Tijuana
8. Cost of living in - Queretaro (Santiago de Querétaro), Mexico
9. Cost of Living in Puebla
10. Cost of Living in Guadalajara
11. Wise Fees & Pricing: Only Pay for What You Use