Are You Eligible to Move to Mexico?

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.

Residency Requirements

Obtaining residency in Mexico will almost always start at a Mexican Consulate or Embassy near you. 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

There are a few ways to get a Mexican Residency. However, the most common is through economic solvency. This means you must make a certain amount each month for Mexico to deem you eligible for a residency visa.

There are two main residencies through economic solvency: Temporary and Permanent.

The economic solvency requirements for residency in 2024 start at $2,530 USD a month with proof of bank statements for the last 6 months. Each consulate has its own economic solvency requirements.

If your income is not enough to qualify, you can obtain residency either through monthly income or through investments/savings. To qualify, you need to prove you have at least $42,164 USD and up to $73,000 USD saved or invested in the last 12 months, depending on which consulate you apply to.

See our updated list of income requirements per consulate.

Ties to A Mexican National

If you are the spouse, parent, or child of a Mexican national, you qualify for residency in Mexico WITHOUT having to prove economic solvency.

To apply, you can either visit a local Mexican Consulate or apply at your local INM office in Mexico.

For help with this, we recommend hiring our recommended immigration facilitators. Their contact information is given to you when you purchase our Mexico Relocation Guide.

Residency WITHOUT Having Economic Solvency

There is a game changer for residency in Mexico. Especially since the economic solvency requirements can be deemed as high.

The Mexican government is temporarily issuing a 4-year temporary residency visa with no restrictions to all tourists who have overstayed their tourist permits. The bonus is you don’t have to prove economic solvency to be eligible.

The high-level requirements are:

• You must have visited Mexico at least once before 2022
• You have to be in Mexico to apply after your FMM expires
• You will have to pay all immigration fees up front (around $16,000 MXN- about $1,100 USD) This doesn’t include facilitator fees.

If you qualify for this special residency, I’d encourage you to apply. It’s a great way to secure your residency. After 4 years, you can apply to become a permanent resident.

To find out the requirements, read our 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. However, permanent residents do not need to renew their residency.

Buy The Guide

This guide should give you a good idea if you qualify to live in Mexico legally. To learn the steps for moving to Mexico and our directory of vetted professionals, consider buying the COMPLETE Mexico Relocation Guide.

Other Options

Our Plan B has always been living in Panama. Panama only requires you to have $1000 USD a month in guaranteed lifetime income such as social security or a pension.

For more information about moving to Panama, check out Our “Panama As A Plan B Article.”