https://mexicorelocationguide.com/mexico-resident-visa/
Mexican Temporary Resident (Residente Temporal)
The most common Mexican Resident Visa is a temporary residency.
To qualify for a temporary residency visa in 2024, you need to:
Demonstrate monthly income starting at USD $3,500 and up to $4,500 monthly for the past 6 months. You must provide at least the last six months of
bank statements.
or
Demonstrate a minimum balance in investments or savings starting at USD $58,000 and up to $74,000 USD for the last 12 months. You must provide at
least the last 12 months’ bank statements.
or
Proof of home ownership in Mexico valued at 40,000 x Daily Minimum Wage ($9,957,200 in 2024) approx. $553,000 USD.
The income requirements vary by consulate and are NET (after taxes).
Mexican Permanent Resident (Residente Permanente)
A permanent resident visa is less common because you must prove more savings or income to qualify. *In some cases, you also have to be of retirement
age. I’ll go over that further down.
To qualify for a permanent residency visa, you must:
Demonstrate a minimum monthly income starting at USD $5,800 and up to USD $7,500 for the last 6 months
or
Demonstrate a minimum balance in investments or savings starting at USD $230,000 and up to USD $307,000 for the last 12 months, with bank
statements showing this minimum balance each month.
The income requirements vary by consulate and are NET (after taxes).
Get the latest Mexican Residency income requirements by consulate.
As far as vehicles go...once you have permanent residency the requirements to drive a foreign registered vehicle change
[Edited on 8-6-2024 by JDCanuck] |