Only a short time after officially taking office, Donald Trump’s Presidency has already perhaps been one of the most controversial changes in leadership in American history.
Whatever side of the political aisle you sit, if you are an American expat living in Puerto Vallarta or Riviera Nayarit, a change in government can always bring some changes to rules and regulations which may affect you.
Here are a few issues that you will want to follow if you are from the U.S. and living in Mexico.
Policies Looking Good for Expats
• Offshore taxes – for those running small businesses in Mexico, there doesn’t appear to be any upcoming changes. Trump’s tax plans target offshore corporate tax rates and most small entrepreneurs are exempt from corporate tax.
• Foreign Earned Income Exclusion and the Foreign Tax Credit – as yet, neither of these has come under scrutiny and there have been no announcements that would lead to the belief that these policies will change.
• The Strong Dollar – buying power in Mexico continues to be unpreceded for those with access to US dollars in Mexico.
Issues to Watch
• Policies that will limit taking IRA funds out of country.
• Possible limitations on foreign transfers.
• Possible new restrictions on foreign investments.
At Tropicasa Realty, we are dedicated to staying abreast of all changes to international policy and law as it relates to Puerto Vallarta real estate transactions. With 20 years of experience as a leading real estate agency in Puerto Vallarta and with our own in-house legal department, you can put your trust in Tropicasa Realty.
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