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Before buying our COMPLETE Mexico Relocation Guide from us, I’d like to ensure you know the basic qualifications to obtain legal residency in Mexico.
Obtaining residency in Mexico will almost always start at a Mexican Consulate or Embassy near you- unless you have ties to a Mexican national or resident. Mexico has 67 Consulates and 80 embassies worldwide. There are 50 Mexican Consulates in the U.S. and about 7 consulates in Canada. So finding one near you should not be a huge problem.
Residency Through Economic Solvency
The following 2025 formula is used, and we have an approximate amount in USD based on an exchange rate of 20 MXN to 1 USD.
🛂Solvency Requirements for Mexican Temporary Residency
For temporary residency, the following formula is used, and we have an approximate amount in USD based on an exchange rate of 20 MXN to 1 USD.
👉Monthly Income Requirement
- Formula: 300 x daily minimum wage
- Total in USD: Approximately $4,083 + USD per month
👉Savings Requirement
- Formula: 5,000 x daily minimum wage
- Total in USD: Approximately $68,066 USD
🛂Solvency Requirements for Mexican Permanent Residency
For permanent residency in Mexico, the economic solvency requirements are typically higher. Using a daily minimum wage of 278.80 MXN and an exchange rate of 20 MXN/ 1USD, here are the updated totals:
👉Monthly Income Requirement
- Formula: 500 x daily minimum wage
- Total in USD: Approximately $6,806 + USD per month
👉Savings Requirement
- Formula: 20,000 x daily minimum wage
- Total in USD: Approximately $272,270 + USD
The income requirements vary by consulate and are NET (after taxes).
You can apply for Mexican residency through income or savings. You don’t need both. And you also DO NOT need to live in Mexico to remain a resident. So, it’s a good idea to secure your residency NOW because these requirements increase yearly.
Please understand each consulate has its own economic solvency requirements.
Ties to A Mexican National
If you are the spouse, parent, or underage child of a Mexican national or resident, you qualify for residency in Mexico WITHOUT having to prove economic solvency. If you are born to Mexican parents, you qualify for Mexican dual-citizenship without having to prove economic solvency.
For help with this, we recommend hiring our recommended immigration facilitators. Their contact information is provided when you purchase our COMPLETE Mexico Relocation Guide.
Do You Have To Live in Mexico?
There is nothing in immigration law requiring you to live in Mexico to remain a resident. This means you can apply for residency years before moving to Mexico.
For temporary residents, you must travel back to Mexico to renew your residency after the first year. Temporary residents can become permanent residents after 4 years. And Permanent residents do not need to renew their residency visas.
Buy The Complete Guide
To learn the steps for moving to Mexico and our directory of vetted professionals, consider buying the COMPLETE Mexico Relocation Guide.
In the guide, you get an easy-to-follow plan that covers:
- Residency Visas
- Knowing How to Apply for Residency and mistakes to avoid
- How to bring your household goods
- Driving vs Flying
- How to get healthcare coverage in Mexico
- How the medical system works in Mexico
- Bringing your pets to Mexico
- What to know about taxes in Mexico as a foreigner
- How to find the best rentals
- Scams to avoid
- And a lot more!Â
Plus, we also give you access to our complete directory of contacts across Mexico that help make your move a lot easier.
We give you our list of vetted contacts across Mexico such as:
- Immigration Facilitators
- Rental Agents
- Realtors
- Healthcare brokers
- Medicare Advantage brokers
- International moving companies
- Relocation tour guides
- Private driversÂ
- Pet transport companies
- and so many more
We save people hundreds of hours of research with the online guide, and we have helped thousands of people move to Mexico THE RIGHT WAY.
Also, because we continuously update the online guide, you can feel confident that even if you move in a few years, you will still have the most up-to-date information. The online guide is a good resource for any foreigner considering moving to Mexico.Â
Buy the guide here – https://mexicorelocationguide.com/guide/
Other Options
We think it’s a good idea to have a plan B. And our Plan B has always been living in Panama. Panama only requires you to have $1,000 USD a month in guaranteed lifetime income, such as social security or a pension.
For more information about moving to Panama, check out “Moving to Panama As A Plan B.”
