Mexico Residency Requirements: 2024 Update
The financial requirements for residency in Mexico might well surprise you… For temporary residency you’ll need to prove $4,400 a month or $73,000 in savings… Permanent residency is even higher: $7,300 a month or $293,000 in savings. But they’re not your only options if you want to settle in Mexico. Our Senior Latin American Lee Harrison talks you through your options for expat life in Mexico in this video.
#mexicoresidencyrequirements #retireinmexico #movetomexico #expatsinmexico #mexicoresidency #mexicoexpats #liveinmexico
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The Regularization Program is still available in 2024. No financial requirements and you do it while in Mexico. Plus you get a 4 year Residente Temporal. I did this in April, 2024 at the immigration office in Mazatlan. My tourist visa expired on April 2nd. I had my 4 year Residente Temporal on April 3rd.
@irenemassey6292
21 күн бұрын
That’s the way of doing it it
*Also, we hired a consultant while in Mexico to help us with immigration paperwork. She told us that every situation varies from the next and no two situations are the same, it can even vary one week from the next, or who handles your approval process. 🤷🏼♀️ Welcome to Mexico!
You can no longer renew the 180 day per year visa as the computers follow your days now. I was not allowed back in crossing at Laredo due to exceeded my 180 days per year rule.
A 180 day tourist entry is not guaranteed and Mexican customs agents do object to people with a pattern of frequent re-entering. You can always try again at a different point of entry (to avoid having to deal with the same customs agent again) because the nature of these objections seems to come down to individual preferences of these agents.
We live between Portland and Seattle. We tried to get a Mex consulate appt with the Portland office bc their savings requirement was a lot less than Seattle. Portland office said they would not see us bc we weren't in their zone. Instead we had to wait for an appt in Seattle which had much higher savings threshold and wait times. In fact, we ended up getting approved for temporary residency instead of permanent bc they raised their savings threshold (without informing us!) during our appt wait time. It took us almost 1 yr from applying to final appt. I was told the consulates are swamped with applications due to high demand.
@Armand_Will
18 күн бұрын
go to the phoenix one
Thank you for the informative video. One thing I would note is the 180 day tourist entrance was standard procedure. However, I personally noted that often times I was only provided 30 or 60 days upon entry. I had also heard of others only getting 7 days if they were suspected of abusing the tourist visa rules. I went ahead and applied for temporary residency and it has relieved my stress levels upon entry. Maybe Mexican government has standardized the 180 entrance allowance but you never know when things can change.
I'm a permanent resident of Mexico and my residency card is not green at all.
Huge bit of misinformation in saying that you automatically get 180 days on a tourist visa. No, it's not automatic. More and more people are running into that. In many cases, you have to show your hotel bookings and your flight plans, and you may well just get 2 weeks. The simple fact is that the tourist visa is for tourism, and the residency permit is for residency. If you come in on a tourist permit and you actually come to establish residency, you're lying to the immigration authorities. They will have a computer record of all your comings and goings, and they have every right to refuse you or even kick you out if your pattern of behavior shows that you're abusing the tourist permit. Beyond that, it's jarring to hear him say that he doesn't know of other countries which allow residency through savings. He shouldn't even be trying to speak on that topic. LOTS of countries offer residency based on wealth and assets, including through investment programs. I stopped watching after that part.
@sesomnoslen5729
20 күн бұрын
Correct
@alendryaldimera
6 күн бұрын
Yea, this guy doesn't have a clue what he's talking about. Hardly anything he said is correct when it comes to how the entry system works in Mexcio these days.
It’s challenging enough now that they’ve increased the income requirements, I’ve been trying to get in touch with the San Francisco Mexican consulate for three months with no success It’s ridiculous
This was a very detailed and easy to understand explanation. Thank you.
Mexico is still the best country in Latin America and one of the best in the world to move to.
beachfront in Maz for 200k? that would be difficult to find. good info in this video, thanks.
Him I disagree with the Phoenix part of your conversation. I’m currently waiting for my appointment for temporary and the monthly fee for me is a bit over $4300k per month in coming to my bank account
My understanding is if you've been to Mexico before 2022(?) , that there is a path to start temporary residency from within Mexico and without meeting financial requirements? Is this true? If it is true, what information would be required to prove you were there? My husband and I relinquished our expired passports.
@susannbasta2972
18 күн бұрын
I have recently read this also, guess I'll do a deep dive. I walk over now to shop , no one stamps my passport.
@lisawoods588
18 күн бұрын
Not 2022. It's 2020 or before. Meant for those stranded during covid. You must have proof of entry with a stamp on your passport prior to 2020 and then overstay your FMM. It is the "regularization program." Look it up. It will cost for all 4 years of temo residency, plus fees. There is no guarantee how much longer they will continue this program. It could end at any time.
Great information. Thank you both 📝📊📌
Great Video......Just wanted to add, I was fortunate to qualify for Permanent Residency from the get go two plus years ago and yes both the Temporary and Permanent Cards were green. They changed that about a year or so ago, and they are now both like a dual tan and gray colored card no longer green.
Phoenix rates just increased. $4321 income $72000 savings 🙄
@youknowkbbaby
21 күн бұрын
Wow
@susannbasta2972
18 күн бұрын
Well, was going to go there. I am in N M
Last few times they were not automatically.. giving 180 days . Question any knowledge of Canadians immigrating as our dollar is so low. 4400 USA..is approx 6500 cdn..any experience?
So are these $73k temp or $293k perm minimums PER SPOUSE or PER MARRIED COUPLE?
Wonder what the fees are in San Antonio?
@jamieritchie1789
17 күн бұрын
It’s simple to just google. San Antonio is just about the same as phoenix Az (I don’t know what he’s talking about it is not cheaper in Phoenix, I have appointment Friday and the minimum monthly incoming salary is $4362 for last 6 months) San Antonio was the same amount
I visited Mexico in December last year, I had been there a few times before. They gave me only 15 days on arrival. Oh, and the Police robbed me in Mexico city !
Hello is it the same for Europeans? And also what if you have a lot more in savings but don’t qualify for the full amount on income per month and what do you have to prove as far as income? If you work online? Let me know is there attorneys that you guys can recommend 18:34 18:39 18:43
@AngelAPAVLOVSCornDog
21 күн бұрын
I believe it is income OR savings
My wife has been a stay-at-home homemaker for most of her life. So, her Social Security when the time comes will be less than $1400 a month. Hopefully when the time comes, we would have sold our home and have some savings. Is it safe to assume since our accounts are in both our names that the Savings threshold would be met? Do you still have to have a monthly income threshold to meet?
@Taldanmus
22 күн бұрын
I don't think so; I've often heard it said that the quoted minimums are for the primary, and that a family member adds some percentage more to the primary..my understanding from seeing a lot of these vids..keep digging, I think it's generally all pretty clear
@boink800
21 күн бұрын
By selling your home, you should have the required assets. That's all you need. However, these assets (over $70k) must be in your bank account(s) for over one year.
If I qualify for the Perm Residency, can I go ahead and get the PR now (making short trips to Mexico per year) until I retire in 3 years? Basically i would not be spending a lot of time in Mexico until I retire but then living there full time.
@donovanduncan5733
23 күн бұрын
Yes
@stevefritz5182
21 күн бұрын
They want you to declare that you are there more than 6 months.
@stevefritz5182
21 күн бұрын
6 months of the year.
@user-uq4qe2om5y
17 күн бұрын
We are permanent residents of Mexico. We are NOT required to visit Mexico every year to maintain the permanent resident status. If we someday acquire citizenship by naturalization, we will be required to visit Mexico only once every five years, or else (theoretically) risk being denaturalized.
I think over $4k monthly income is hard to come by these days. Because all you will really have that's considered "income" is your Social Security, and most SS payments are not that high (I'm not sure if they count interest your making on investments, money markets etc as income). My husband and I got ours Temp Residency last July, he qualified with his SS ($3,000 a month) and I'm not retired yet so I qualified with my 401k savings. We fly back in this July to renew for 3 years...cannot wait to be moving there permanently, just waiting for our house in Florida to sell 💃🌺🇲🇽🌴🍹🍍⛱️
@PP-uv1kw
20 күн бұрын
dummie....rent..not sell
@KatKatz11
19 күн бұрын
We've built 18 homes and sold each one after 2 years beating the capital gains taxes...no way am I renting a home in the US when I'm living in Mexico, I don't need the headaches of Renters, I want to enjoy my retirement. I'll stick to investing (😂dummie) lol!
I would love to know about owning real estate near the coastline?
@user-uq4qe2om5y
17 күн бұрын
Non-citizens cannot own coastal or border land directly. You must own through a bank trust; I think it’s called a fideicomiso, and it can cost you over $1,000 per year extra. This is one of the reasons why we plan on upgrading from permanent residence to citizenship.
Why is he saying "fees" when hes talking assets and income ???
Hell, Portugal requires something like $800 per month income ! Tell me Mexico is 3x better than Portugal ? The RNE program is the way around this
@eleonoravishenina5482
18 күн бұрын
Yes, Mexico and Colombia is much better and bigger than Portugal .
@user-uq4qe2om5y
17 күн бұрын
Yes, for us Mexico is FAR better than Portugal for our budgetary needs and our preferences. We can take a reasonably short, cheap bus or car ride back to visit family and friends (as well as a doctor and dentist whom we still see periodically) in California. By contrast, a trip from Portugal back to the USA would require us to pay eight airfares for us and our children….. Also, the general IVA (value-added tax) is an absurd TWENTY-THREE PERCENT in Portugal, whereas in the State of Baja CA (and all other states bordering the USA), the general IVA rate is merely EIGHT percent. It should be easy to understand that taking our family out to eat - or buy clothes - is more affordable in a Mexican border state offering FIFTEEN PERCENT LOWER sales tax than Portugal…. Also, Mexico is so much bigger and more topographically, climatically and culturally varied than Portugal….
@eleonoravishenina5482
17 күн бұрын
@@user-uq4qe2om5y Agreed 👍
What if you don't have 73,000? that's a lot of money!!! What if you have Social security but you don't make enough to qualify on that alone but you do have an second income that equates to the 4,400 amount? Hopefully i'm explaing it properly
@wheretoretire3315
21 күн бұрын
They will look at your income tax return to see if you have reported income that amounts to the minimum requirement or more.
@irenemassey6292
21 күн бұрын
The best thing is to get the 180 days Visa stay after your visa has expired and then apply , make sure you save the he visa fmm card to prove you entered legally
What about healthcare for seniors if you are a temporary resident, can you get it free?
@lisawoods588
18 күн бұрын
Healthcare in Mexico is not free to temporary or permanent residents. What made you think it was free?
Mexico is consistently inconsistent. The honest answer for most people is to simply start the process and see what shakes out for you. There is no loss in doing your investigation for your circumstances. I will say, don't try to come in too low under the wire. You are aware there are minimums so don't try to immigrate with the plan of selling bracelets on the beach. This video, and others like it, are for the "common" person. You may be unique and that may be perfectly fine with the consulate you deal with. I will add, don't think that importing personal goods tax free is a benefit to residency. You'll pay at the consulate and then you'll get hit up again at the border. Leave your crap in the US and buy in Mexico. It isn't worth the hassle of trying to import.
If u had that much money, why the heck would u move to mex???
@sesomnoslen5729
20 күн бұрын
Because the quality of life is generally better. Also more bang for the buck$.
@susannbasta2972
18 күн бұрын
73K ? A lot of money, at retirement?
So you don't.need pre paid health insirance?
@sesomnoslen5729
20 күн бұрын
No
japan does not require yyou to stay a minimum amuont of time on a residency permit
I just tried to apply for a temporary visa residency and I was turned down. The consulate person told me I had to maintain $73,000 for 12- months consecutively. I don’t have that, but I have a monthly income of $10,000 He basically hung up on me???
hello😉I'm a filipino from the Philippines 🇵🇭. if I buy a property in Mexico worth $500,000 can I instantly qualify combining opening a bank account in Mexico worth $300,000 for permanent resident?
@andreawisner7358
21 күн бұрын
You're better off showing cash. Hire an attorney.
Retirement to Mexico is suddenly not an option for most Americans. The cost of living has skyrocketed.
@texless69
18 күн бұрын
It's still an option, if you can't afford Mexico, America is definitely not an option 😳
@toddmaek5436
15 күн бұрын
Mexico is a big country with varied cost of living areas
@JamesBlazen
15 күн бұрын
@@toddmaek5436 True. The desirable areas have skyrocketed.
It definitely was intentional, Mexico is very business first minded. They want cash liquid people to arrive and buy into apartments/homes. Especially within their major cities. These income thresholds only US citizens/ Canadians can get them, Europeans don't get salaries like that.
I didn’t hear whether there is a requirement for FBI background check.
@jimlevell3800
22 күн бұрын
No
@destinationmax
21 күн бұрын
NO. México, Colombia and a couple of other countries do not require backgrounds. However, with the way things are in the world right now being so crazy. I wouldn’t be surprised if they started it someday.
The current president of Mexico is on his way out Nov 2024 so things might change with this new Female President .Also do these Residency Requirements apply to Baja California Mexico .I've known in the past that some of these laws rules etc that apply to main land Mexico don't really apply to Baja Mexico.
@stevefritz5182
21 күн бұрын
The only difference with Baja is no TIP on car importation. Nothing about immigration is different.
@user-uq4qe2om5y
17 күн бұрын
We acquired permanent residence in Baja CA. Everything was super-fast and by the book. We have a large family; we applied for eight people over the course of two years, and the local INM emlace (branch) never required more than the law as stated on the Mexican government website.
I do think Mexico doesn't want poor pensioners anymore..they don't need them
@sy2yd
22 күн бұрын
Agree, especially its big neighbor doesn't want their workers to enter and do most of the work their "patriotic citizens" won't do. Keep the qualifiers as they are.
@davidsebastianelli1326
21 күн бұрын
If that was true they wouldn't let you qualify just by showing you got paid the qualifications required for just six months and not showing that amount would be a consistent income. The way it's set up you could pay yourself the required amount for six months out of your savings without needing to show any other income after that or before. They would also cancel the Rergularization Program that allows your residency visa without showing any income requirements.
@boink800
21 күн бұрын
Will Mexico build a wall to keep out those poor pensioners?
@silverlining6259
19 күн бұрын
@@sy2ydbut wait! Liberals want their slaves to raise their children and keep their plantations so supply/demand right?! Illegals have no rights so you don’t pay them enough and over with them etc
@SOCORROGM
18 күн бұрын
You never told the amount of money $$ anwer the question
Is the "income" stated ( $4,400 ) per month OR for a 6 month period? There is conflicting information.
@jamieritchie1789
17 күн бұрын
Per month, incoming monthly income. money. Not sure why he said Phoenix is cheaper. I have appointment next Friday and I have to show $4300k incoming money for last 6 months. Not 2k
@lesawilkes5673
17 күн бұрын
@@jamieritchie1789 You mean $4300.00 Right? Thank you! I am currently planning/researching the Regularization Program instead, but one source confused me with the way they worded it. Good luck and God bless you.
@texless69
17 күн бұрын
@@jamieritchie1789 Phoenix recently changed rates, couple of weeks ago their website quoted old requirements. So unless he had checked just before shooting this video, he would not have known about the recent change.
The description says 73,000 a month for perm residency?
@jimlevell3800
22 күн бұрын
It says 7300
@loverofsong9830
22 күн бұрын
It says $73,000 a year for temporary residency. You have to prove it’s been in your bank account for at least one year. Or you must show this amount in an investment account such as a Roth IRA. Once you’re a temporary resident, you never have to prove financial solvency again.
@jimlevell3800
22 күн бұрын
@@loverofsong9830 they edited that to correct it
@loverofsong9830
22 күн бұрын
@@jimlevell3800 I’m confused. Are you saying they changed it to $7300.00 a year?
@jimlevell3800
22 күн бұрын
@@loverofsong9830 they edited the description to the video. 7300/month
No, not everyone except asylees must go through consulate. Where is this guy getting his information from? Too many wrong statements.
Why taling so long to answer an easy question : HOW MUCH?
This guy likes to talk well before he gets to the point. :)
That's ridiculous rules, But Mexicans are able to come over for free? So I'm planning on going to Mexico to live just renting probably buying a home out there, don't know if that counts.. But that's my reason..Now I do know we are granted 180 days to be there, but can we apply for temporary residency telling them I have resident there..
Does "based in Europe" mean you live in Europe? I thought so.
RNE
Adult children - NOT eligible. Must qualify separately.
@alijaved4021
15 күн бұрын
kindly guide me how to do the process plz
Isn't it ironic? Dontcha think?
do you a video on giving birth to Mexico for the purpose of citizenship by birth in Mexico?
Surprised about your whole tap dance banter about covid restrictions in Mexico, because they had zero.
Where will poor gringos go
Again someone who doesn’t know 100% what they’re talking about. The Mexican consulates DO NOT go by the Mexican daily minimum wage standards. They go by economic solvency. Especially for those who are retired and live in Mexico.
@d.f.6662
22 күн бұрын
They also cracked down on automatically giving 180 days for tourists.
@davidsebastianelli1326
21 күн бұрын
The economic solvency requirements are based on the minimum wage....When the minimum wage goes up, so do the economic solvency requirements. Pretty simple.
@avalonmist254
16 күн бұрын
@@d.f.6662 No they didn't, it depends on the destination you are going to in Mexico not to mention you can open your mouth at the Airport and ask for your 180 days...🍀
@d.f.6662
16 күн бұрын
@@avalonmist254 It doesn't mean they will give you the full 180 days. There are several videos of this topic on KZread.
@avalonmist254
16 күн бұрын
@@d.f.6662 I currently have lived in Mexico for 2 years.and I am retired...I don't meet most requirements to be a resident ...there are Multiple videos on Visa runs as well as the RNE Visa ... Which I will get , if the program is available, when I meet the requirements....🍀
Don’t bother with main land Mexico. Baja is a free zone. It is the best place to go. Don’t buy property there. Unless you are a national you can’t own property within 60 miles of the coast ..
Pushing the idea to be Permanent Tourist instead of getting your Mexican Residency should never be allowed on your channel. Tourists Vista is for Tourist and for people not living here for most months out of the year. That's the problem with a lot of people like him, advising people to skirt the law if they can.
@davidsebastianelli1326
21 күн бұрын
It's legal and you're not "skirting the law" by doing it. There are thousands of people who go to Mexico to live for six months out of the year to avoid the winters where they live and have homes. Canadians are famous to start showing up in October and November and completely disappear by April. I have friends that have lived permanently in Mexico for over ten years by making "border runs" at least every six months. During the pandemic sometimes the border agents wouldn't automatically give you 180 days in your tourist permit (FMM) but it was a rarity.... If they ask you how long you are staying and you tell them "Three weeks" they will write and stamp 21 days on your FMM. Same thing if you tell them you want to travel around for six months, they will write 180 days and stamp your FMM. BTW- After surfing and remote beach camping in Mexico since the early eighties, I got my residente visa years ago because I didn't want to have to do border runs or stop at customs and fill out an FMM everytime I came down. Never once in over 35 years did I not get 180 days stamped in my FMM. I live here now and still surf when it gets good.
@stevefritz5182
21 күн бұрын
It's not illegal. You forfeit certain benefits, which were mentioned. Honestly, I wish everyone did this. Too many people "invest" in Mexico before they know if they can actually tolerate living there. Maybe two years of tourist visas will save them from making the mistake of having to move in three years, which is about the average time people start bailing out.
I just tried to apply for a temporary visa residency and I was turned down. The consulate person told me I had to maintain $73,000 for 12- months consecutively. I don’t have that, but I have a monthly income of $10,000 He basically hung up on me???