Here are some updates on the residency visa income requirements
I calculated the amounts using the new minimum wage of $172.87 Pesos. And the exchange rate of 20 MXN to 1 USD. All income requirements are AFTER TAXES.
Temporal/ Temporary Residency
- Savings or Investments $43,220 USD
- Income ~$2,600 USD
- Savings or investments of $175,000 USD
- Income/Pension of $4,350 USD
These amounts are not per person. If you’re a couple applying together, your spouse will need an additional $800 USD a month to qualify.
Keep in mind not all consulates have this new amount posted on their websites. Also, keep in mind this is a baseline and some consulates might have different requirements because they take the exchange rate at a different amount or because they have other factors they consider and don’t publish this either. But I am pretty certain these will be close to the new requirements.
Inflation affected the whole world including Mexico. Which is increasing their minimum wage by 20%!!! A huge increase. And is the reason for the spike in these income requirements.
If you’d like to start working with an immigration expert, please check out our Mexico Relocation Guide which includes step-by-step instructions to apply for residency and a full directory of professional contacts across Mexico you can work with.