Let's discuss taxation, retirement, and social rights for long-term immigrants in Mexico and the Philippines. It's crucial for anyone planning a long-term stay.
The thrilling world of paperwork and percentages! Let's start with Mexico.
In Mexico, if you're a tax resident (generally after 183 days), you're taxed on worldwide income. They have a Value Added Tax (IVA) of around 16 percent. However, they have double taxation treaties with many countries. For retirement, the Pensionado Visa requires a stable foreign income.
Worldwide income means even selling a used sock puppet collection is taxable! In the Philippines, if you earn locally, you pay income tax. They also have the Special Resident Retiree's Visa (SRRV), popular for its deposit-based residency, not income-based.
The SRRV requires a lump sum deposit, unlike Mexico's Pensionado Visa. In Mexico, if you contribute to IMSS (social security), you have access to public healthcare; otherwise, private insurance is common.
Similarly, in the Philippines, PhilHealth is the public system, but many long-term immigrants opt for private insurance to avoid long wait times.
Generally, once you're a legal resident in Mexico, your basic rights are similar to citizens', though social safety nets may not be as extensive. In the Philippines, resident immigrants have rights, but welfare programs may not be as comprehensive as in some other countries. For more detailed information, visit jetoff.ai.
Jetoff.ai provides a roadmap for navigating these complexities. Both countries have developing social safety nets. We encourage comments and feedback from listeners in these countries.
Whether you choose Mexico or the Philippines, understanding the financial and social landscapes is key. It's not just about the scenery; it's about securing your future. Let us know your thoughts!
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