Pathway to International Real Estate: Golden Visa Programs
Your Next Chapter: Unlocking Golden Visas Do you have a Plan B? For many, it’s a lingering thought—a desire to explore life abroad, diversify investments, or secure future opportunities in a different part of the world. At Engel & Völkers Chicago, we understand this ambition, and we’re here to help you navigate that journey with confidence. Golden Visas—residency-by-investment programs—have become increasingly popular in today’s ever-changing world. Recently, our office hosted an International Mastermind Session featuring experts from Panama, Italy, and Costa Rica, where they shared insights on their respective residency programs. Key Insights from Our International Panel During our mastermind event, speakers from Panama, Italy, and Costa Rica shared their expertise, offering insights into how residency programs open doors to new lifestyles, financial security, and strategic flexibility. While each destination provides something unique, they all offer one crucial advantage: the freedom to create the next chapter of your life on your terms. The discussion underscored a common theme—residency abroad isn’t just about a vacation home; it’s about creating new opportunities for personal growth, investment, and peace of mind. Countries like Panama and Costa Rica highlighted the ease of integrating business ventures or rental properties into your plan. At the same time, Italy emphasized the cultural richness of living in a new environment. Each country offers distinct paths to residency; all programs share a fundamental benefit: the opportunity to lay the groundwork for the next chapter of your life with unparalleled advantages. Our HoganZavalaGroup team’s primary focus is Puerto Vallarta, Mexico, a vibrant jewel on the Pacific Coast. It’s the perfect place to secure freedom, flexibility, and financial savings as you explore new possibilities. Why Puerto Vallarta? Puerto Vallarta offers more than pristine beaches and vibrant culture—it provides a smart, forward-looking lifestyle move. By obtaining residency, you unlock unique freedoms that tourists can’t access. Mexico offers two pathways: temporary and permanent residency, with permanent status becoming available after four years as a temporary resident. Here’s what makes Puerto Vallarta particularly appealing: Unlimited Travel Flexibility: As a resident, you’re free to enter and exit Mexico without restrictions, unlike tourists who are limited to 180 days, sometimes fewer. No Full-Time Living Requirement: Residency doesn’t mean you need to live full-time in Mexico—ideal for balancing properties or investments in multiple locations. Driver's License and Car Registration: Residents can obtain a Mexican driver’s license and register a vehicle, privileges that tourists find difficult to access. Keep Your Foreign-Registered Vehicle: Temporary residents can keep their U.S. or Canadian car in Mexico for up to four years. Substantial Tax Savings: Residents benefit from up to 30% savings on taxes when selling property—significantly more favorable than the tax obligations faced by tourists. Our experience tells us that Puerto Vallarta, with its booming luxury real estate market and financial benefits, is a prime destination for those seeking either temporary or permanent residency. Whether you want to diversify your portfolio or simply enjoy a more relaxed lifestyle by the sea, Puerto Vallarta offers the perfect balance. Residency Requirements: Your Gateway to Mexico Residency in Mexico involves meeting certain financial criteria, and it’s important to note that each Mexican consulate has some autonomy in how they apply these requirements. However, here is a general breakdown based on a minimum wage of 249 MXN and an exchange rate of 18 MXN/USD: Temporary Residency Monthly Income: 300 x daily minimum wage = ~$4,150 USD/month Property Ownership Alternative: Homeownership in Mexico valued at USD 553,000+ Savings Requirement: 5,000 x daily minimum wage = ~$72,000 USD Permanent Residency Monthly Income: 500 x daily minimum wage = ~$7,200 USD/month Savings Requirement: 20,000 x daily minimum wage = ~$280,000 USD Act Now: Each year, income thresholds increase, and many find themselves ineligible by waiting too long. If you’re thinking of applying, securing your residency sooner will safeguard your eligibility and ensure you lock in today’s financial requirements. Why You Shouldn’t Wait Golden Visa programs across the globe, including Mexico’s, are becoming more sought-after by the day. The insights from our international panel highlighted that early action is key—as financial thresholds increase each year, the path to residency becomes more exclusive. Puerto Vallarta is the perfect place to lay the foundation for your future, whether you’re looking to retire, invest, or simply enjoy the freedom of living abroad. Engel & Völkers Chicago is part of a global network that offers seamless guidance through this process. Our expertise ensures you won’t face this journey alone. Your Next Chapter Starts Now Residency in Mexico opens doors to a lifestyle many only dream of—unrestricted travel, tax savings, financial flexibility, and the joy of waking up to the beauty of Puerto Vallarta’s coastline. The future isn’t waiting. It’s here, ready for those who take action. Mexico’s combination of ease of access, affordability, and lifestyle make it one of the most attractive options for U.S. citizens and global investors. At Engel & Völkers Chicago, we have the skills, the connections, and the insights to help you achieve your goals. Let us guide you toward a life that’s bigger than borders—Puerto Vallarta is calling, and your next chapter awaits.
Explore the Finest Luxury Properties This Fall: Discover Engel & Völkers’ Private Residences
We are proud to present the brand-new edition of Private Residences Magazine! This prestigious magazine, published by Engel & Völkers, features a curated collection of Engel & Völkers listings with targeted exposure across shops in the Americas. It is also distributed to thousands of high-net-worth consumers in the U.S. and Canada through partnerships with Modern Luxury Media and Dolce Magazine. I would also like to draw your attention to an exemplary listing featured on page 44 of this issue—a remarkable luxury brownstone in Chicago’s Gold Coast. This exquisite residence, meticulously crafted by Wolff Contracting and Development in 2022, blends historic charm with modern luxury. Offering 6,000 square feet of opulent living space, this home features 4 bedrooms, 4 full bathrooms, and 2 half bathrooms. It is presented at **USD 4,499,000** and comes fully furnished, promising an exceptional, move-in-ready living experience. Learn more at 77EastCedar.com We are dedicated to assisting you with all your real estate needs—from showcasing your property in premier publications to providing top-tier service tailored to your goals. Please feel free to reach out if you have any questions or would like to discuss how we can support your real estate journey. From expansive Montana ranches to luxurious retreats near Canada's world-class ski slopes and rooftop entertaining in historic Savannah, Engel & Völkers offers something to fulfill every aspiration of upscale living. Check out our offering on page 44... We hope you enjoy this issue! Explore the exceptional listings in Private Residences Issue 29 and unlock the full issue for more exclusive insights.
Lincoln Park, Chicago: A Blend of Nature and Urban Sophistication
Lincoln Park, Chicago: A Blend of Nature and Urban Sophistication Lincoln Park is where nature's charm meets city life's vibrancy. Located just north of downtown Chicago, this historic neighborhood is named after the expansive 1,200-acre park that defines its character. Originally developed in the mid-1800s, Lincoln Park has evolved into one of the city's most desirable areas, offering a perfect blend of lush green spaces, historic architecture, and modern amenities. An Idyllic Urban Retreat:Lincoln Park’s real estate is as diverse as its landscape. The neighborhood features everything from grand Victorian homes and stately row houses to sleek high-rise condominiums with panoramic views of the park and Lake Michigan. This blend of old and new creates a unique residential experience that caters to various lifestyles. Life in Lincoln Park:Living in Lincoln Park offers a balance between tranquility and excitement. Residents can spend their mornings jogging along the lakefront, afternoons exploring the Lincoln Park Zoo or the Chicago History Museum, and evenings dining at some of the city’s top restaurants. The neighborhood is known for its tree-lined streets, offering a peaceful, family-friendly atmosphere and being home to lively nightlife and cultural attractions. A Foodie’s Paradise:Lincoln Park is a culinary hotspot, boasting an array of dining options that cater to all tastes. From the farm-to-table cuisine at North Pond, nestled within the park itself, to the world-class Alinea, one of Chicago’s most celebrated restaurants, the neighborhood is a food lover’s dream. Lincoln Avenue and Clark Street are lined with casual cafes, chic bistros, and lively bars, ensuring there’s something for everyone. 2648 N Racine Avenue, Chicago | $1.5m Historic Charm Meets Modern Living:Architecturally, Lincoln Park is a feast for the eyes. The neighborhood is home to historic landmarks like the Alfred Caldwell Lily Pool, a serene oasis hidden within the park, and the iconic DePaul University campus. At the same time, modern residential buildings and luxury condos offer contemporary living spaces with all the latest amenities. Affordability and Accessibility:While Lincoln Park offers some of the city’s most sought-after real estate, it also provides a range of housing options to fit different budgets. The neighborhood is well-served by public transportation, with multiple CTA train lines and bus routes connecting residents to downtown and other parts of the city. For those who prefer to drive, major highways are easily accessible. 399 W Fullerton Parkway 2W, Chicago | $699,000 A Cultural and Recreational Hub:Culture and recreation are at the heart of Lincoln Park. In addition to its vast green spaces and lakefront beaches, the neighborhood boasts a thriving arts scene, with theaters like the Steppenwolf and Victory Gardens hosting acclaimed productions year-round. The annual Lincoln Park Wine Fest and the Chicago Air and Water Show are just a couple of the events that bring the community together in celebration. 538 W Deming Place, Chicago | $3.975,000 Shopping and Leisure:Armitage Avenue is Lincoln Park’s premier shopping destination, offering a mix of high-end boutiques, local shops, and charming cafes. For those who enjoy a bit of culture outdoors, the neighborhood’s proximity to the Lincoln Park Conservatory and the Peggy Notebaert Nature Museum adds to its appeal, offering cultural enrichment just steps from home. And it's no surprise that Lincoln Park is home to the record Sale of 2024 representing one of the finest homes in the country. Hat's off to our own Jennifer Ames who represented the buyer on this one-of-a-kind residence. 1932 North Burling Street | Sold at $15,250,000 Listed by R. Matt Leutheuser • Jameson Sotheby's Intl RealtyBought with Jennifer Ames • Engel & Voelkers Chicago Lincoln Park is more than just a picturesque neighborhood; it’s a dynamic community where nature, history, and modern luxury coexist harmoniously. Whether you’re drawn by its scenic beauty, cultural offerings, or vibrant dining scene, Lincoln Park stands as a top choice for those seeking a balanced and enriched urban lifestyle in Chicago. Learn more about Lincoln Park, Chicago
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