For coronavirus (COVID-19) travel information, see our FAQ.

Mexico Residency Income Requirements (2021)

The Mexico Residency Income Requirements are detailed in the following chart and have been updated as of 2021. All amounts are in USD

This quick guide is meant to help you determine if you qualify for residency in Mexico, but if you’d like you can also learn more about how to actually apply for residency in Mexico and what you can expect to pay in fees

Keep in mind that the following income requirements to be eligible for a visa are taken from the INM website, and may vary from consulate to consulate as we have seen in the past. And in some cases, you may need to be of retirement age for a Mexican Consulate to issue a permanent residency.

You should contact your immigration expert, and/or your nearest Mexican consulate to receive your local office’s income and age requirements. These income requirements are up to date as of February 2021 and usually change once a year. 

To get access to our list of recommended immigration lawyers, check out our Mexico Relocation Guide.

Mariana Lange

Mariana Lima-Lange was born in Mexico and immigrated to the U.S. when she was a child. She spent every summer visiting family throughout Mexico and is very knowledgeable about Mexican culture, lifestyle, and traditions. She is fluent in both Spanish and English.

Reader Interactions

Comments

  1. Ron says

    Mariana,
    Went on Jackie’s tour but the visa requirements have changed and am not interested in a Panama temporary visa. Do I qualify for a Mexican permanent visa if I am only 60 with a wife of 54, if I only have a pension of $600 currently, with savings of $500k plus? I will later get social security of $1900 at age of 62 and another pension of $800 when I turn 65. I thought it was either a pension or assets of $140k or so. Will I be fine? Wanted to know before I purchased your guide and started the process at the consulate. Probably would use one of your recommended facilitators. Do you have any in the North Carolina area?
    Thanks,
    Ron

    • Mariana Lange says

      Hi Ron
      Yes you would qualify with your savings. However you have to show proof that you had a balance of at least 35,000 for the last 12 months with bank statements

      Our recommended immigration attorneys can help you. They are in our online guide

      Thanks!

      • Adam says

        $35,000 usd is the correct minimum amount you are required to have in your bank for 12 months?

        • Mariana Lange says

          Hi Adam
          It fully depends on the consulte you apply at. But yes, it’s a good baseline. Although in 2022 this requirement will likely increase because minimum wage in Mexico increased 22%!
          Here are the new income requirements based on the formula immigration uses
          https://mexicorelocationguide.com/mexico-residency-income-requirements-2022/

          However, check with your consulate what their actual requirements are.

          If you need help, we have a variety of recommended immigration experts ready to help you out. Mexicorelocationguide.com/guide/

  2. Ron says

    My pension is more than $4500 USD a month. But I don’t have a lot of savings. Will I qualify on my pension alone?

    • Mariana Lange says

      Yes- your pension is sufficient to qualify on its own.
      I would still recommend working with an immigration expert to make sure you know which documents a Mexican Consulate will want to see as proof.

      If you’re interested, we have a variety of recommended immigration experts in our Mexico Relocation Guide https://mexicorelocationguide.com/guide/
      And if you buy it today, you get $100 off with coupon code BLACKFRIDAY100
      But it’s only good through today Monday Nov 29th

  3. Carl says

    Dear Mariana, I am a bit confused when you use the $ sign for both USD and mexican money, I guess it will be a little more clear if you indicate more clearly what money denominations we are talking about.

    • Mariana Lange says

      Hi Carl
      thanks for pointing that out. Both Mexican Pesos and USD use the $$
      However, for this article all income amounts are in USD

  4. Lee says

    Hi, I’m 45 and receiving a 4,332 monthly pension. We travel a lot, and I would like to know if I can apply for permanent residency in Mexico with my wife receiving nothing.

    • Mariana Lange says

      You can try to apply for Permanent Residency although you might not get it because of your age. Most consulates want you to be over 60 years old.
      If you don’t get permanent residency, you’ll likely get temporary first and after 4 years you can get permanent residency.

      I would consult with an immigration facilitator. In our online guide I walk you through each process and connect you to our list of recommended immigration facilitators.
      mexicorelocationguide.com/guide

  5. Trevor Steven says

    Hi
    Not sure if you’ll be able to advise but i’d like to know the possibility of my wife and I living in Mexico permanently (but there are many questions I have).

    My wife is a Mexican citizen from birth but is also a British Citizen now having lived in the UK with me for over 7 years and qualified after the long and expensive process to get there. I’m a British Citizen from birth. Having looked through the internet I believe I can go to live in Mexico with my wife and would need to apply for a 1 year temp residency to begin with and then could extend to 2 before then being allowed to apply for permanent residency (please correct me if I’m wrong.

    Do I need to pass the life in Mexico test to become a permanent citizen though? I also have a condition where I need to take permanent medication so this is a concern as I wonder if I’d easily be able to get this and I assume I’d need health insurance to get it? I have a reasonable level of Spanish speaking but can still find it difficult in certain situations and wouldn’t be working in Mexico but my wife could easily worked having worked there for many years until she came to the UK. I believe we would have more that enough money to qualify through savings to begin with. I’m in my early 50s so am a long way from retirement age yet but also going forward would like to know if I’d still get both my private and personal pensions from the UK once I’m old enough to receive them

    • Mariana Lange says

      Hi Trevor!
      Thanks for your message. You’re correct- you would get permanent residency after 2 years because you are married to a Mexican national.
      There is no test in Mexico to become a permanent resident. There is a test if you’d like to become a citizen.

      You don’t exactly need health insurance to get your medications in Mexico. Anyone can go to any doctor and get a prescription if it needs one. Otherwise, you might find some of your medications can be bought over the counter. That being said, I would highly recommend you buy health insurance in Mexico. Most small things are very affordable to pay out of pocket, but bigger and catastrophic events can bankrupt anyone. Plus, most medical centers or hospitals in Mexico won’t treat you unless you pay something upfront. If you don’t have that much cash this can be a problem. That’s why insurance is absolutely necessary!
      I’d recommend talking with a Mexican doctor before moving to Mexico to understand if your medications are available in Mexico and to get an idea of their costs.

      You’re in a great spot being able to retire early! If you want to learn how to move to Mexico stress free, check out my Mexico Relocation Guide.
      Mexicorelocationguide.com/guide

      And let me know if you have any other questions.
      Saludos!

      • Trevor Steven says

        Thank You Mariana for your reply

        That’s interesting that you say medication can be prescribed by a doctor if needed. My medication is for ulcerative colitis which although pretty stable for a long time I do wonder if it would still be expensive to get. I know it costs the NHS in the UK around £100 for every prescription I have. As I already have family in Mexico I may ask one of them to check with their Dr and let me know.

        I will look at your guide as I will obviously have to get some expert advice but having said that I’ve been to Mexico 6 times and as my wife and her family have been there all their lives I know what areas are good and not so good etc.

        If I was a resident but not a citizen I assume that means I couldn’t get a Mexican passport and therefore if I had a British one only would I have to travel back to the UK to renew it when it expires (although I have almost 10 years left anyway).

        If I had a 1 year residency can I return to the UK if needed within that 12 months or do I have to say put? I was thinking of selling our flat in the UK and moving to Mexico to begin with to see if we can make it work and if it doesn’t then return to the UK and buy another flat etc.

        Kind Regards

        • Mariana Lange says

          Hi Trevor,

          Thanks for the reply.
          Most countries have embassies in Mexico and some allow you to renew your passport at their embassy. Without you having to go back to the UK.
          https://www.gov.uk/overseas-passports
          You cannot get a Mexican passport unless you become a citizen- you are correct.

          Hope it all works out for you!
          Take care

          Mariana

          • Trevor says

            Thanks Mariana

          • Trevor says

            Hello Mariana

            Is there any protection on money in Mexican banks/savings etc.? In the Uk the government protect each account up to 85K. Is there something similar in Mexico and as I already have HSBC and Santander accounts in the UK could I make the easy switch over.? I know that I can use a cash machine in Mexico from these banks as I’ve sone so in the past.

          • Mariana Lange says

            In Mexico, the Instituto para la Protección al Ahorro Bancario (IPAB) is the deposit insurance set up by the country for account holders in Mexico. It insures up to 400,000 UDIs (Unidad de Inversión), the equivalent of $2,743,209.20 pesos for each account

  6. Jack S Clay says

    Hi. My name is Jack and I’m 46 years. I’m interested in becoming a resident in Puerto Vallarta, MX, permanently. I receive Social Security Disability totaling 1736 USD monthly. Would I meet the financial requirements to become a temporary to eventually, a permanent resident? Thank you

    • Mariana Lange says

      Sorry Jack- that amount is not enough to qualify for residency in Mexico.

      Do you have any savings?

  7. John Galt says

    Great information. I was wondering if the balance in a 403b retirement account would be acceptable to show financial solvency?

    • Mariana Lange says

      Hi John
      It fully depends on the consulate you go with. In most cases I would recommend working with an immigration facilitator who will help you figure out what documents you need depending on your situation.

      But truly, the requirements vary by consulate.

  8. Mark Goldman says

    Hi Mariana,

    My wife and I have SS payments totalling 3800.00 per month, will this qualify us?

    Thank you.

    • Mariana Lange says

      Hi Mark!
      Yes- you’ll qualify for temporary residency. After 4 years you can become a permanent residency without having to leave Mexico or prove financials again

Submit a Comment

Your email address will not be published.