Getting a passport and dual citizenship in Mexico will make it easier for you to seize opportunities in the up-and-coming areas of the country.
Manufacturing costs are low in Mexico, which makes it a great country for production. There is also a strong incline of consumption demand, especially from US automakers and companies like Nabisco. This can make obtaining Mexican citizenship and setting up a business in the country attractive.
Our founder, Andrew Henderson, has talked about the rising popularity of Mexican cities like Tulum. Real estate investments can be very rewarding for anyone who wants to profit from the expanding tourism sector in Mexico. Many investors talk with great enthusiasm about the future of cities like Tulum.
Unlike the situation in the US, there is much more freedom in Mexico’s market. Cancun is a great example of this. The city started basically from nothing and had the financial support of the government, but it stands on its own feet now that it gained some momentum. Mexico really seems to understand how to stimulate growth, unlike its northern neighbor.
If you’re not looking to invest but want to retire in a luxurious beach resort, one of Mexico’s beach towns would be a great choice. In either case, having Mexican citizenship has several benefits and can make life a lot easier if you live there.
Mexico made our list of the best countries to live in and is especially appealing because of its proximity to the states and safety. At Nomad Capitalist, we are all about freedom, including having the freedom to obtain residency and citizenship in one of the best countries for business opportunities. Apply to become a client today.
Entrepreneurship in Mexico
Mexico has proven to be one of the best countries in Latin America to set up a company.
The Mexican government has stimulated an entrepreneurial environment, investing billions in start-up funds. This speaks volumes about the change in mindset of the Mexican people. The government is working with these entrepreneurs instead of against them.
Engineering has been the preferred choice of many students in Mexico for a long time. About 130,000 Mexican students per year get their engineering degrees. Many of them try to start up a company nowadays, though, instead of finding a job as an engineer.
A good example of the entrepreneurial atmosphere that’s present in Mexico is shown in the Startup Mexico initiative, which is the fastest-growing entrepreneurship and innovation initiative in Latin America.
This initiative tries to match up entrepreneurs with investors to help them realize their dreams. It can be a very inspiring environment for anyone who wants to start up a business and a great place to build up a network.
Business Opportunities in Mexico
Setting up a business in Mexico doesn’t just give you a large market of Mexicans to supply to. The country’s location makes it easy to reach large groups of consumers in neighboring countries.
The United States is just one border away, and the Free Trade Agreement has positively affected the trade between the two countries. Mexico is one of the biggest suppliers of export products in about half of the states in the US. Besides the US, the country has free trade agreements with around 49 countries in total. And if that’s not enough, Latin America is right on its doorstep.
Recently, Chinese companies have been investing in Mexico to take advantage of the North American trade deal, allowing them to label their products “Made in Mexico” and truck them into the US duty-free. In this trend, known as nearshoring, companies are establishing operations in Mexico to supply the US market with goods.
There are interesting and potentially lucrative opportunities in Mexico.
Benefits of Mexican Dual Citizenship
After becoming a Mexican citizen, the government allows you to continue to hold a passport from another country. While in Mexico, you are considered a Mexican citizen and will be treated as such. Of course, if your home country forbids dual citizenship, you’ll have to choose.
Mexican nationality is given to a person who is born in Mexican territory or at least has one parent with Mexican nationality. If you don’t meet those demands, there are still possibilities to get Mexican citizenship.
An important benefit of having Mexican citizenship is an increase in your freedom while in the country. It enables you to vote and stay in Mexico without any visa hassle. You also don’t have to inform the government about your whereabouts or when you switch jobs.
It’s also possible and quite easy for Mexican citizens to own land near the beach or the border. This makes citizenship very interesting for investors. Working with governmental offices is faster as you can use your Mexican voting card for quick identification.
How to Get Dual Citizenship in Mexico
Even if you aren’t born in Mexico, or your parents are not from there, you can still get Mexican citizenship by naturalization or by marrying a Mexican national.
Naturalization requires you to live in the country for at least five years. Your level of Spanish and knowledge of the Mexican culture will be tested during the application. This five-year residency rule doesn’t have to apply if you’ve made a significant contribution to Mexican society in the field of science, culture, business, art, or sports.
If you have a Mexican wife, getting Mexican citizenship within two years of living in the country is possible. You still need to pass the Mexican culture and Spanish language test. Being able to speak Spanish will definitely pay off for you as it enables you to speak with the locals in many Latin American countries.
If you’re coming from the US or Canada in particular, Mexico is really hard to beat and can provide a great soft landing because you can come here and enjoy a similar lifestyle, and you are just a stone’s throw away from North America.
Whether for business or as a second residence where you can live longer term, Mexico is really worth considering.
Our founder and author of the book Nomad Capitalist, Andrew Henderson, has spent the last 17 years figuring everything out the hard way, dealing with all the challenges of going offshore, so he can share his experiences with you and help you go where you are treated best faster.
Our team has helped seven and eight-figure entrepreneurs and investors legally go where you’re treated best for everything from business opportunities to defining great emerging hot spots. Contact us today, and we can help you and your business successfully offshore.