Requirements for Residency in Mexico
Table credit: Mexperience.com
2022 Financial Requirements for Residency in Mexico
Applications for residency in Mexico based on economic solvency depends on whether your application is processed inside Mexico or at a Mexican consulate outside of Mexico. If this is your first time applying for residency, chances are you will have to apply at a Mexican consulate.
Financial Requirements for legal residency in Mexico are based on minimum wages (MW) for 2022. They are as follows:
Temporary Residency
To apply for Temporary Residency in Mexico, you will need to show:
Proof of monthly deposits in the amount of $2400 to $2700 USD, for a 12 month period preceding, and leading up to the time of application.
OR
Savings or an Investment Account Balance of $45,000 USD.
Permanent Residency
To apply for Permanent Residency in Mexico, you will need to show:
Proof of $4300 to $4500 USD in deposits over a 12 month period prior to your application. OR
A savings account balance of $180,000 USD.
The table [left] compares the MW required by Mexican Consulates and UMA required by the INM office in Mexico. Keep in mind that the economic requirements vary by consulate. Whether you are approved or denied residency is ultimately at the discretion of the Mexican Consulate outside the country or the Immigration officials in the country.
I recently renewed my residency in Mexico so I hold a Temporary Resident card. It is good for four years. If you are seeking a path to residency in Mexico, whether Temporary or Permanent, I highly recommend that you seek out an experience immigration expert. I used Host Relocation Co .services. Iyonne Pavaan is excellent. She has a team of professionals who work with her. You can contact her to inquire about the new changes that Mexico is making regarding residency and she will direct you to an expert in your particular state in Mexico. Please do not wait. Time is of the essence as laws have changed and fees have increased.
If you have already been granted a residency card--Congratulations! You have taken the steps required to begin a new life in a country that has welcomed you with open arms.
Welcome to Mexico!