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Here are some updates on the Mexico residency visa income requirements for 2023.
Temporal/ Temporary Residency
- Income starting as low as $2500 USD a month at some consulates and up to $3,300 USD a month for the past 6 – 12 months. Some consulates only require 6 months of bank statements, while others want a full year back.
- Or
- Some consulates start as low as $41,000 USD and up to $52,000 USD in Savings or Investments for 12 months.
Permanente/Permanent Residency
- Income/Pension starting at $4,200 USD and up to $5,400 USD a month for 6 months ($104,000 MXN/Month)
- or
- Savings or investments starting at $170,000 USD and up to $208,000 USD for 12 months ($4,140,000 MXN/Yr)
In most cases, these amounts are only for the main applicant.
If you’re a couple applying together, your spouse will need an additional $800-$1,060 USD monthly to qualify. This also varies by consulate.
Some consulates will want each applicant to qualify individually. If you cannot qualify individually and are legally married, don’t worry! If one of you qualifies, the other can obtain residency in Mexico without proving financial solvency.
Inflation affected the world, including Mexico- which increased its minimum wage by 20% in 2023. A huge increase! And is the reason for the spike in these income requirements.
I’ve also broken down some requirements for Residency in Mexico in this video.
Each Mexican Consulate Has Its Own Requirements
Perhaps one of the most frustrating parts of the residency process in Mexico is that every Mexican Consulate has its way of doing things.
Some Mexican Consulates want you to book your initial appointment by email. At the same time, others may only accept appointments through Mexitel.
Add to this the fact that every Mexican Consulate seems to have its own residency requirements for financial solvency. It’s hard to keep up with and sometimes impossible to find this information. And it’s hard to give you a blanket answer for how much income you’ll need to qualify for the Mexico Residency Requirements.
But here’s my research, and I want to share it with you!
This is broken up by city, and the amount needed for Temporary Residency through monthly income or savings.
The right two columns highlight Permanent Residency through monthly income or Permanent Residency through savings.
You only need to prove one, not both. And all income requirements are NET after taxes.
Mexico Residency Requirements By Consulate
| CITY | Temporary Residency Income | Temporary Residency Savings | Permanent Residency Income | | Permanent Residency Savings |
| Atlanta | $3,268 | $54,474 | $5421 | $217,895 | |
| Austin | $3,268 | $54,474 | $5,421 | $217,895 | |
| Dallas | N/A | N/A | $4,698 | $187,902 | |
| Denver | $2,593 | $43,217 | $4,321 | | $172,870 |
| Houston | $3,287 | $54,790 | $5,479 | | $219,163 |
| Nogales | $3,202 | $53,464 | N/A | | $213,856 |
| McAllen | $2,879 | $48,000 | $4,800 | | $192,000 |
| Brownsville | $3,214 | $53,574 | $5,357 | | $214,297 |
| Los Angeles | $3,200 | $52,350 | N/A | | N/A |
| Calexico | $3,275 | $54,589 | $5,459 | | $218,358 |
| San Francisco | $3,275 | $54,589 | $5,458 | $218,357 | |
| Santa Ana | $3,112 | $51,860 | N/A | N/A | |
| Fresno | $3,250 | $53,000 | N/A | N/A | |
| D.C. | $3,275 | $54,589 | $5,458 | | $218,357 |
| Las Vegas | $3,111 | $51,860 | $5,186 | | $207,440 |
| Orlando | $2,594 | $43,218 | $4,549 | $183,000 | |
| Raleigh | $3,109 | $51,000 | $5,180 | $207,240 | |
| New Orleans | $2,794 | $54,589 | N/A | N/A | |
| Milwaukee | $3,112 | $51,860 | $5,186 | | $207,440 |
| St. Paul | $2,593 | $42,218 | N/A | N/A | |
| Detroit | $3,278 | $54,704 | $5,464 | $218,585 | |
| Del Rio | $3,300 | $53,700 | $5,550 | | $215,000 |
| Boise | $3,100 | $52,000 | N/A | | N/A |
| Boston | $3,115 | $52,000 | $5,195 | | $207,650 |
| Indianapolis | $3,041 | $50,676 | $5,067 | | $202,705 |
| Tucson | $3,000 | $45,000 | $4,700 | | $180,000 |
| Phoenix | $2,530 | $42,164 | $4,216 | | $168,654 |
| El Paso | $3,275 | $54,589 | N/A | | N/A |
| Portland | $3,200 | $53,350 | $5,330 | | $213,000 |
| Seattle | $3,500 | $58,000 | $5,800 | | $235,000 |
| Toronto | $4,500 CAD | $72,000 CAD | $7,200 CAD | | $286,000 CAD, |
| Vancouver | $4,615 CAD | $76,919 CAD | $7,692 CAD | | $307,675 CAD |
| Calgary | $4,615 CAD | $76,919 CAD | $7,692 CAD | | $307,675 CAD |
| Leamington | $4615 CAD | $76,920 CAD | $7,692 CAD | $307,000 CAD | |
| United Kingdom | £2,677 | £44,614 | £4,461 | | £178,457 |
| Frankfurt | € 2478 | € 41,316 | N/A | | N/A |
| España | € 3,300 | N/A | N/A | N/A |
**DISCLOSURE: The consulates on this chart shared these income requirements with me. However, Consulates are known to change their income requirements without notice. Therefore, I recommend getting the latest income requirements from the consulate when you apply. An immigration facilitator can help you with this.
It is also important that you keep in mind that these numbers were given to me by the consulates as of 2023, and it is still your responsibility to check with your local consulate for the accurate requirements for today, as these can change.
For spouses- the average amount needed each month is approximately USD $800- $1,060. Depending on the consulate.
Every consulate operates differently. For example, most consulates want you to be over 60 or draw a pension or social security to grant you permanent residency.
Another nuance is consulates that require a letter from your employer stating you will continue working in Mexico while you live in Mexico.
Other Considerations For Residency Requirements in Mexico
Another thing you should keep in mind is that my table doesn’t include qualifying for residency through Mexican homeownership.
It’s another way to obtain a Temporary Residency if you can prove to a Mexican Consulate that your property in Mexico is worth at least ~$415,000 USD or 40,000 days times the minimum wage in Mexico (currently $207 Pesos).
But I didn’t include it because, in my experience, no Mexican consulate accepts this as the sole way of qualifying for residency in Mexico. And I have never heard of anyone successfully obtaining residency through home ownership in Mexico.
The chart also doesn’t consider those who may apply together with a spouse, usually an additional $800-$1,060 USD a month.
This entire process is explained in our COMPLETEMexico Relocation Guide. I highly recommend it to save you hundreds of hours of research to figure out the most important pieces of your move to Mexico.
How I Gathered This Info
I’ve contacted a variety of Mexican Consulates and have also combed a lot of Mexican Consulate websites. I either emailed them or called them.
If they replied to me via email with their Mexico residency requirements, I added them to this chart. If they shared that information over the phone, I added it to this chart. And if the income requirements were updated on their site, I added them to this chart.
To help you determine if you are eligible for residency, these are some of the top consulates for which I have gotten income information.
Also, keep in mind that these income requirements change every year. These are the income requirements for 2023. If you qualify for residency today but might not qualify next year, I encourage you to start your residency process sooner rather than later.
If You Need An Immigration Facilitator
If you need an immigration facilitator recommendation, please check out our COMPLETE Mexico Relocation Guide.
In the online guide, you get a step-by-step plan to help you process your residency on your own, along with tips to help you avoid mistakes.
However, we know Mexican bureaucracy is hard to navigate on your own. And you may need additional help.
So to help you even further, you also get our directory of recommended immigration contacts throughout Mexico.
There’s An Alternative If You Don’t Qualify!
Upset because you no longer qualify for residency due to increased income requirements?
Don’t give up! This is the solution. Find out if you qualify for the special regularization program in Mexico– which gives you a 4-year temporary residency without having to prove financial solvency.
We Need YOUR Help
If you have been in touch with a Mexican Consulate that has given you their income requirements for 2023 and that consulate is not on this list, please forward that information to [email protected]
But please remember I can only publish that information if you forward the actual email from the consulate. Hearsay is not reliable enough.
Thank you!
Do the new income requirements for residency apply to everyone or are there different requirements for retired people and younger people who have not reached the retirement age?
Thank you!
Great question. They apply to everyone regardless of age
I am 77 years old. My Social Security is $2,272/month what kind of residency am I eligible for?
Hi Dona. Please read the article. I have explained the two types of residency options and the income requirements for each. 😁
So, if I am 40 years old and I have the required amount of cash ($208,000) in my banking account for the past 12 months, I can apply for permanent residency in Mexico? Because I’m younger than 60 years old, I will not be required to have additional funds?
You can apply for permanent residency, but there’s a possibility because of your age that you will get temporary
Thanks for great info: 2 questions
#1 I think I meet financial requirement for permanent residency but am afraid the consulate I am planning to apply to (Miami) will not allow me to get permanent residency because I am in my mid 40s and financial requirement planning to be used is monthly income, not saving amount. Any consulate you know that does not require us to be retired to be considered for permanent residency?
#2 I read online yesterday that people who become Mexican citizens through naturalisations lose it if, in any 5 year period, they live abroad. Is that rule being applied or it is in the law but not being practiced?
Thanks in advance
Hi Mariana! Thank you for for all the helpful information about Mexico you share with us about relocating to Mexico.
With a temporary visa, do you have to re qualify financially when you renew every year?
What is required to convert from temporary to permanent residency-is it pretty straightforward?
We are planning a scouting trip for March, is there any benefit to applying for temporary residency before we go, or will the 6 months tourist visa suffice?
Gracias in advance for your reply!
Hi Patti!
My pleasure.
-No- once you become a temporary resident you don’t have to show financials again to renew.
-All the information on converting from temporary to permanent residency is laid out in an easy to follow plan in our Mexico Relocation Guide https://mexicorelocationguide.com/guide/
Including contact information for our recommended immigration facilitators around Mexico.
-You can absolutely get your residency at the same time as your scouting trip. Our relocation tours are a great solution for you https://mexicorelocationguide.com/tours/
Thanks!
Mariana
Is there a maximum number of days between step 1 (consulates approval) and starting step 2 in Mexico for residency? How early can step one be completed before traveling to Mexico?
Once you are pre-approved by the Mexican consulate, you can start the 2nd part of the process in Mexico (known as Canje) right away.
You do have up to 180 days from when you are pre-approved to start the 2nd part of the process in Mexico.
Everyone talks about money in your savings, what if your money is in a checking account but still meets the dollar amount requrements. Also I have heard your Bank Account name must match with your Passport. In my Passport my name appears as Willis, Johnny Ray. My Bank Account name appears as Johnny R. Willis.
Thank you
Your name should be find as long as the R matches your middle name which it seems it does
If money is in your checking account it is fine. It doesn’t have to be a SAVINGS account
What about if my $60K is in a couple of different bank accounts and a separate brokerage account? Is this acceptable? My name is on all.
Best
Morgan
Yes if you are the owner of all bank accounts and the cumulative amount is enough for you to receive residency, you should qualify.
Remember that some consulates also want each bank statement to be signed by a bank representative or can also be signed by your accountant, or financial planner. To verify it’s authenticity.
I sent an email to the
CONSULADO GENERAL DE MÉXICO EN LOS ÁNGELES requesting the amount in U.S. dollars I would need to qualify for both temporary and permanent residency in Mexico. I sent the email around the second week of December 2021. Just before Christmas I received a reply, but the reply did not give me any information on the amount of income that I would to prove. The reply only stated that I would have to get an appointment at the consulate, after January 1st, 2022. I sent an additional email, again requesting information on the dollar amount to I would need satisfy the solvency requirement. The income information was not listed on their website. Is this common?
Yes. Very common.
Things are changing very quickly within immigration and that includes the consulates. So sometimes you will get an answer, sometimes you will not. And sometimes you will get one answer, and then a different employee might give you a different answer.
The last email I received from the Los Angeles Consulate stated I need the following income requirements
USA Bank Statements with a minimum monthly ending balance of $42,500.00 USD of the last 12 months (One document per every single month (JAN 2021-JAN 2022); or
Fideicomiso in original and current appraisal under ONLY applicant name with a value of $6,914,800.00 Pesos
ONLY PENSIONIST (RETIRED) 60 years old(SOCIAL SECURITY BENEFIT PAYMENTS).
Proof of USA pension with a minimum monthly income of $2,600.00 USD of the last 6 months (One document per every single month)
Note: If you receive a pension we need the SS benefit letter and the bank statements of the last six months where the deposit is shown under your correct name
Mariana, thank you for your wonderful work in this area. My question is how do I calculate the minimum income requirement for me and my wife, claiming her as a dependent?
One other probably stupid one. “Income in the last 12 months” Can that include income made while still in the States with a full time job, even if your intention is to quit that job and retire in Mexico, not working. Example: I’ve been in Mexico 1 month on a tourist visa and I apply for temporary resident and it asks for 12 months back income. My only possible response is to include my current pre- retirement income, which is much greater than we plan to receive in Mexico (about $2200 after tax in social security.)
Thanks
Steve Wille
Yes: that’s exactly what my husband did.
can you email me your list of hotels with mailing address and phone # for your trip to lake chapala i would like to look into them thank you phil
I am a 75 year old Canadian Pensioner. Are the financial requirements for Mexican Residential Visas different for pensioners?
Unfortunately no David. Income requirements are the same regardless of pensioned, retired, or not.
Is every consulates monthly requirement different as previous????
Hi Scott
Yes- every Mexican Consulate may have a slightly different income requirement than the one I published. Unfortunately, every Mexican Consulate abroad tends to operate a bit independently.
Mariana
Do you have a list of current consulates that have the lowest monthly requirements ? I make $2416.60
???? Help please.
Hi Scott- you can find it here https://mexicorelocationguide.com/income-requirements-by-city-2022/
Hola! Can my adult partner count as my dependent? Grasias!
Yes- but You would have to be legally married. Talk to an immigration facilitator for specifics on your situation
Mariana
Does my house in Tennessee, fully paid for, count as an investment? I have $80,000 in savings before the sale of my house just before i sell It to come to live with my sister in Celestún. My monthly pension is $2484 per month. I want to be a permanent resident. I hope my house which will be sold for $350,000 counts as an investment
Your $80k in savings should be enough for temporary residency assuming you have at least that balance for the last 12 months
Does a house that is paid in full count as an investment, that can be used toward the PERMANENT residency total amount? (I am the owner of the house currently and no money is owed on it.) I have a lien release and an assessor’s valuation of the house.
Thanks!
Hi Mariana…my wife (a Mexican citizen and married in Mexico) and I have lived in the US for the last 25 years… we are thinking about retiring to Mexico in the next 2-5 years… are the requirements for me to gain residency any less cumbersome (we would meet the income requirements) and how easy/difficult might it be for us to purchase a home?
Hi Barry!
Great question. good news, because your wife is a Mexican National you do not need to provide financials and you can start the process in Mexico. You also immediately get temp residency for 2 years and are then eligible for permanent residency.
If you want to hire a facilitator to help you through the process we have a directory of immigration facilitators in our Mexico Relocation Guide
Hello,
Are the income requirements per person, or are they the requirements for a married couple? And savings as well?
Hi there, My family and i are looking to relocate to mexico. so we are interested in getting our temporary residency. We currently live in Montreal Qc, Canada. And forsee ourselves moving to Playa del Carmen or Tulum area. We are looking for a immigration lawyer that can help us out with the whole process. Thanks
Thanks for all of the great information.
Quick question . . . my wife and I meet the savings requirements to apply for permanent residency, but, what can we do about getting a temporary residency permit for our 20 year old son? He is a full-time college student; so he doesn’t meet the monthly income requirement, and he hasn’t yet saved-up enough on his own to meet the temporary residency permit savings requirements?
He may be able to qualify as a dependent of yours- just depends on the consulate.
If they allow it, you’ll likely need to prove an additional $1000 USD for your son
If you need an immigration expert to help you, we have a directory of contacts in our online guide. https://mexicorelocationguide.com/guide/
Hey Mariana
How much did the solvency increase between 2021 and 2022 if at all. I’m planning on applying in 2023 and I need an idea of how much it could go up. I’m in Canada and at the moment it is 55,655 for temporary residency savings with an additional 1,115 for each dependant. Thanks so much
The solvency increased 22% from 2021 to 2022 because Mexico’s Minimum wage increased 22%. That’s the most it has ever increased, but sorry no one knows how much it will increase in 2023. Or if it will increase at all.
Hi Mariana,
Thanks for the info. It was really insightful. My wife and I are expats living in Shanghai, China, and we intend to retire in Merida.
Can we use our employment income to meet the benchmark for the Permanent Residency? Or must it be via a pension?
Secondly, can you recommend an immigration lawyer to help with the process?
Hi Victor.
Glad the tips were helpful.
You can use employment income- but it all depends on which Mexican Consulate you go to. Not sure about the Mexican Consulate requirements in your vicinity in China.
Most Mexican Consulates in the USA will accept your employment income. And no you don’t have to be pensioned to be accepted. As long as you meet the financial requirements after taxes
I live in Texas and I have dependants…this mean I have to have $2600 for myself monthly and additional $2k for my dependents?
It fully depends on the consulate you go to. Not all consulates in Texas have the same requirements. You should consult with your local consulate.
Thank you for such a helpful article! My senior aged mother lives with me, as does my 9 year old daughter. We are from the U.S. and interested in getting temporary residency in Mexico. Do I have to provide separate income for both myself and for my mother or can it be combined? Thank you!
Fully depends on the consulate. Although your child should have to prove her own income.
If you’d like helP from one of our recommended immigration facilitators they are included in our Complete Mexico Relocation Guide
Mexicorelocationguide.com/guide/
Hi Mariana,
Question: We meet the requirements for one of us (me or my spouse) to become a permanent resident in Mexico. Once one of us has permanent residency, is it easy for the spouse to enter mexico as a tourist and then apply as a spouse/family member while in mexico and not have to meet other financial requirements? and become permanent resident as well? cheers
Hi Laurie
If one of you qualifies for residency, then yes your spouse could apply from within Mexico through family unification. The process can be a bit tedious since you need to prove your marriage in Mexico and know the steps to take with the current appointment system. That’s why we recommend working with an immigration facilitator. If you need a recommendation we offer them in our COMPLETE Mexico Relocation Guide
mexicorelocationguide.com/guide/
Hi Mariana,
My wife and I are hoping to divide time between the US and MX for the next few years before I retire. If I’m able to live in Mexico and work remotely for my US employer, can I use my salary and current savings to apply and receive permanent residency even though it will be 3 more years or so before we will move permanently? And, with permanent residency are there any requirements around how much time each year we must live in Mexico?
You will need to have an income to show financial solvency when you apply, so yes you can use your current income when you apply. Once you get approved, you won’t have to show or prove that you still have this same income.
Also, when you move to Mexico you don’t need to remain in Mexico for a determined amount of time to keep your residency active. As long as you are here for renewal if you have a temporary residency. With permanent residency you’d never have to renew again so you can leave as many times as you want.
Or show assets right? Not just income?
It would seem to me that the thing to do would be to not wait the next 3 years before starting. Start the process now before the requirements go up, which everybody I talk with believes they will continue to do.
Go thru all the hoops now, get your temp and work on your permanent during the next 3 years, then when it’s time to move to Mexico you will already have been a resident for 3 years. It won’t matter that you have not moved yet, as there is no requirement to live there during that time.
Right Mariana?
Correct- after being a temporary residency for 4 years you can then apply to become a permanent resident without leaving Mexico.
Many of the consulates require you to be fully retired before they will issue you PR. We are having issues because although I am fully retired, I am young for retirement (57 yo) and am not taking any Social Security benefits. Several of the consulates that I’ve contacted say that I must be able to “prove” that I’m retired, which is a difficult task as I’m not taking SS.
That’s okay Charles- if you don’t get permanent you can always get temporary. After 4 years you can apply for permanent.
I’m just letting Norman know that he might face this issue.
Charles, that is what I keep seeing as well. PR requires pension or SS income. My savings and current salary exceed the requirements for PR, but I am not retired yet.
I’m also concerned because my wife and I are both listed on several of our accounts, but not all. I’d like for she and I both to secure TR (or PR) during this visit. Should I expect issues?
If you qualify for permanente and aren’t pensioned if they require you to be, then they’ll give you temporary residency
After 4 years you can apply for permanent residency in Mexico.
Thank you Mariana – one more question. As we are not yet retired, we will spend most of our time in the states until retirement when we plan still dividing time, but most of our time in Mexico. Does it make sense to go ahead and get our TR now? Or does our TR require us to have a permanent address in Mexico and spend a certain amount of time (or 100% of time) in Mexico?
You should absolutely secure residency now while you still qualify. You don’t have to live in Mexico full time to remain a resident. You just have to make sure you come back to renew it.
2 questions:
If my husband and I are retired. And get permanent residents. Do we have to pay US and Mexican income taxes on our pensions? Or should we get permanent visas. Are they the same thing?
Your pensions or social security benefits do not get taxed in Mexico. Regardless of which residency visa you have 😀
Hello…my husband and I seek Temporary Residency in Mexico. My income is $1800 per month. My husband gets $900 each month. We are both disabled. Do we meet the financial requirements for temporary residency in Mexico?
Mariana,
I will be eligible for a retirement visa for sure. Can my adult son get a family unification visa after I get mine? Would there be an income requirement for him? Thank you.
Your adult son may have to qualify on his own because he is an adult. But there are exceptions depending on the consulate you work with.
Talk to an immigration advisor. If you would like a recommendation, we offer them in our COMPLETE Mexico Relocation Guide
Hello, thank you so much for this information! I have read that you need an original letter from your employer to justify your income, the thing is it’s my own company so can I make a letter for myself ? Then I have all the proof of the income on my bank account. Thanks a lot
Hi Olivia!
Not every consulate requires a letter from your employer. This is on a per consulate basis.
If they do require a letter from your employer, please reach out to the consulate and ask them what they will accept in lieu of not being traditionally employed but rather self-employed.
In most cases, they will accept your bank statements as proof of having an income if you meet the income requirements.
Thanks a lot for your answer I will contact the consulate today !
Hi,
We are considering relocating to Mexico and I can’t find information on this one detail. Our family that would be moving consists of myself, my husband, 2 of our children, and my mother. My husband and our children are Mexican citizens, how does this impact the immigration process for us?
If they are Mexican citizens you should apply for temporary residency at your nearest Mexican consulate with either your marriage certificate and their birth certificates.
Although your mom will need to apply on her own through financial solvency
Would it be possible for me to apply for permanent residency via family unity once we are in country, then apply for my mother via the same route once my application is granted?
Thanks
Hi Megan
You cannot apply for parents if you are over 18 and are married. Unless you can prove that your mom is under your care and might not be able to take care of herself.
Another option is your mom may be able to apply on her own if she visited Mexico at least once between 2015-2020 without having to prove economic solvency.
If you would like more information about the residency process- I have outlined a simple to follow step by step plan in our COMPLETE Mexico Relocation Guide. And I also have the facilitators that can help you through the process.
Mexicorelocationguide.com/guide/
My husband and I are disabled and we had to take SSDI earlier for income. Now it has become Social Security. Because of our past health challenges will the Counsel approve temporary residence for us even though we cannot meet the financial requirements. I have hospital records to prove my medical problems that are now resolving. I lived in Mexico and had a small shop. If my income is 1800 and husband has 900 monthly, could we get a hardship consideration? Thank you
Hi Sharon
Sorry but the consulates don’t consider medical bills as a way to lower income requirements. BUT- the McAllen TX consulate only requires you to make $1725 USD NET a month to qualify and you can then petition for your spouse.
Do you by any chance know the dependent income amount for McAllen TX (kids)
I have my appt with McAllen TX Mexico consulate in Aug…I can’t find the income requirements for dependents… when they email me my appt time…I asked twice and was ignored. Tried calling no answer…it’s so frustrating. Anyone with kids know the income requirements for that location?
The requirements in McAllen, financial and otherwise, are known to be the lowest and most flexible in the country. I can attest, as I just got my TR there a few days ago. The general financials are given on this page, tho as you say they don’t cover dependents, but I am asure those are low as well.
The only city with lower requirements that I saw was Denver. And I don’t know how the other requirements would stack up against each other. Denver’s other requirements might be substantially stiffer.
So you can’t go wrong with McAllen. They treated us like kings and made special allowances and arrangements for us that nobody has written about, from what I have seen. I would go back there in a flash.
Hi. Great info. My wife and I are looking to move to Mexico probably in 3 to 4 years. We meet the income requirements for permanent residency. The question is about dependents. Our adult children have expressed interest in going maybe not immediately but at some point. Could they apply under me if I am living on a Permanent visa or would they have to apply on their own and meet seperate income requirements? Thanks
Hi John!
If they are adults they cannot apply with you unless you are their caretaker
They would have to qualify on their own. 😊
Mariana
Hi Mariana. Do I have to show balances strictly from bank accounts or can these be from the statements of taxable accounts (no 401k) at investment brokerages like Fidelity? That’s where my money is. And do these statements need to be signed and/or stamped by somebody at Fidelity? That wouldn’t be so easy. Thanks!
Hi Robert
Yes you can show financial solvency through investments. And whether or not they need to be signed by your bank depends on which Mexican consulate you apply at
Hello Mariana – I’m applying for a temporary resident visa at the McAllen Consulate. Among other required documents, I’ve got originals/copies of bank statements, pay slips and an original company letter stating my current employment status. My appointment is on December 16th and I’ve been waiting 6 weeks for this appointment. I just watched your video and heard you say a company letter needs to specifically say that my job will continue while I’m living in Mexico. Mine doesn’t. Mine does say, however, that my employment duration is ongoing, I have the ability to work remotely, and shows my income is 3 times their requirement. In your opinion, do you think my employment letter will be considered acceptable? I work for a large, nationwide company and it took me months to get my employment letter and I don’t want to lose my Consulate appointment. I look forward to hearing your thoughts! Thanks much, Mariana! Susan
Hi Susan
That letter should suffice. But to be absolutely sure I would ask the consulate directly what the letter needs to say so you don’t waste your time and your valuable appointment
I have both Mexican and US citizenship living in the US. Do the requirements also apply to individuals in my situation?
Thank you for all the help you give. I am about to retire and plan on living in Mexico about half the time with my wife. My wifes mother is still alive, a Mexican citizen born in Mexico and has her birth certificate. Can my wife take her mother to a Consulate and get her citizenship and then, can I get my temporary residency leading to permanent? Does this take a long time, is it expensive? Thanks again!
Hi Chris
Yes, your wife can certainly get citizenship through her mother.
The requirements vary by consulate.
Please reach out to the consulate in your town to find out what their specific requirements are.
If you or your wife would like help with your immigration process, we include the steps in our COMPLETE Mexico Relocation Guide. But because we know Mexican bureaucracy is hard to navigate on your own, we also include our directory of immigration facilitators in Mexico.
When you buy the guide, you get instant access to the easy-to-follow steps, and also our complete directory.
Find out what’s included here mexicorelocationguide.com/guide
Any word on florida numbers ?
Hi Mariana, I’m a little confused with this chart. In the Savings column for Temporary Residence, do you need to show you have a total of $52,000 in savings, or $52,000 investment income per year.
Either savings or a brokerage investment account
But is that $52K in investment INCOME per year or simply $52K total in a savings or investment account?
That is $52k balance in either a savings account or investment minimum for the last 12 months.
Hola Mariana, thank you for your information about residency requirements for Mexico. You have saved us a lot of legwork.
My question is, must one be retired to be considered for permanent residency even if they meet the economic requirements?
I read somewhere not all US Mexican Consulates require “retired” status. Is that true? And if true, which US Mexican Consulates are those?
Again, thank you for this valuable information.
My pleasure!
Oh, and about my question…
Do you have to be retired to be considered for permanent residency even if you meet the economic requirements?
Thanks
Hi Mariana,
The Income that you need to show for temporary residency, can that include income made while still in the States with a full time job, My husband and I are both still working currently and would like to apply for temporary residency and then in the future retired down there permanently.
Thank you so much for your response.
Hi Mary 😀
Yes. It can be income from a job in the US. Some consulates may ask that you bring both bank statements and pay stubs. As well as a letter from your employer stating you will continue to work for them while living in Mexico
It’s best to reach out to the consulate directly to verify their list of requirements close to the day you plan to have an appointment. Because if you check today but don’t plan to have your visit until August, things can change between now and then
“For spouses- the average amount needed each month is approximately $1,060 USD”
– What about extra amounts for the “savings” option?
It is the same for the savings amount in most cases. $1060 additional (not monthly)
Although this varied from consulate to consulate. Some consulates will only allow one person to apply if you are applying by savings/investments. Some consulates only want investments or savings and each applicant has to make the minimum amount.
And in some cases, they will approve you if your spouse makes the minimum amount on investments without you having to prove additional income.
The requirements are all over the place.
Hola Mariana, I own 2 condos in Playa, and lived here for 2 years but only on 6 month visitor permits, does that help an application for permanent residency? I am Australian so I will need to find out the requirements from there.
Also if I wish to hire you to help me, does that mean I need to live in Playa for the time it takes to process?
Thanks so much for your useful information.
Hi Lynne
If you have been in Playa on a tourist FMM, and you are now in Playa you qualify for a special residency where you don’t have to leave Mexico and you also don’t need to prove financial solvency.
To qualify you must have been in Mexico at least once between 2015-2021
And currently be in Mexico on an FMM
If you’d like to hire someone to help you get this special “regularizacion” I’d highly recommend it.
The immigration fees for this temporary residency are around 15,000 MXN but you get a 4 year temporary residency instead of 1 year as most people get.
If you decide to work with an immigration facilitator, they usually charge around $4000-10,000 MXN. Depending on who you hire.
We don’t know how long this program will last, so I suggest you take advantage of it sooner than later if you meet the requirements.
If you need a recommended immigration facilitator in Playa del Carmen who can help you out, we can connect you to our recommendations.
When you purchase our COMPLETE Mexico Relocation Guide you get instant access to our directory of contacts as well as a lot of important information about living in Mexico.
Check out what’s included mexicorelocationguide.com/guide
Mariana
When I applied at the San Jose consulate last year I was informed that my home’s value meant nothing in their computations and was totally disallowed. I lived in the SF Bay Area and my home was subsequently sold for $820,000. Yet it was not allowed to be part of the asset figurings. Nor are stocks that are still on the stock market.
They turned me down.
After the sale of the home minus mortgage and HELOC and sales fee expenses I had roughly $200,000 left, and when I applied a few months later at McAllen, I still had $180,000 left but they said it had only been in my account for 2 months and to be considered, it would have to have stayed at the $180K level for another 10 months to achieve the required 12 month average for permanente status. So I could have reapplied 10 months later and if the requirements had not changed I would have gotten my permanente.
But they did offer me temporal, which I accepted, and they also found a way to get my domestic partner included for her temporal as well. So I am not unhappy about the outcome at all! I can wait for the permanente just fine.
But I have been trying to find the answer to this question and cannot find it anywhere: is owned real estate allowed to be included on asset figurings at all? Or are only liquid assets allowed?
Only Mexican real estate is considered when applying at a Mexican consulate overseas.
And depending on the consulate stocks are allowed. However, this varies by consulate and by the type of brokerage accounts.
Most consulates want liquid cash in the bank to show you have liquid assets
Hi Mariana,
On the McAllen consulate website for Temporary Resident visa it says to provide last 12 months of bank statements; last 12 months of pay stubs; and employment letter. Does this mean a person can choose which to provide or are all needed?
Also in your video it says 6 months pay stubs are needed. Has the McAllen website not been updated?
Thank you.
Some consulates need 12 months so I would bring 12 months if that’s what their website says
Bring both employment letter and pay stubs
Thanks for this helpful article!!! Does my tax statement work as proof of income?? Or do they require bank statement?
Thanks!
Bank statements are usually what they require.
Hi Mariana.
I enjoy your YouTube videos and have learned so much.
I’m married and in US. I’ve been researching everything relocating to MX. I just got back from a month stay in Jalisco. I was hoping it wasn’t what I expected but it exceeded all expectations. I’m in love.
My question involves my husband who’s not in love (yet). He loves me and I’m pretty confident he will follow me. We are unsure if we will live full time but I know I will be living at least part time in Mexico. I plan to do this by end of 2023. I’m 60 but and 99.9% sure I’d qualify for temporal on my own but how would that work? Say, we own (non mortgaged) real estate valued at $600,000.00 US, can show at least $100,000.00US in savings over a year, have other savings. He gets SS. I Don’t and most of our assets in both our names. He lets me do what I want and knows I’m always right😉so he is aware of my plan but he’s slow moving and I have a hard deadline. How would the immigration office assess or unique situation?
I’m not so sure you’re gonna touch this question but if by chance, you do, thank you in advance.
Christina
Hi Mariana, you provide an invaluable service. Thank you!
I am 65, retired and can easily meet the permanent residency $$ requirements. My husband is 55 and retired and would be my dependent when I apply. Three questions:
1. How much additional savings (roughly) would he have to show as he has no income from a job?
2. We are buying land to build a house. Does it matter if the process is not complete before we buy the land? Can we transfer money to the US to pay for the land for example?
3. Does timing on completing permanent residency steps make a difference later when we sell – on capital gains?
Hi Deborah
Thank you
1- around $860 USD and up to $1000 USD extra. Depends on the consulate, though. Some consulates want each applicant to meet the minimum income requirements.
2- I’d recommend buying after you have secured your residency visa. It would be a shame if for whatever reason you do not get approved that you then cannot permanently live in your home in Mexico. But if the timing is of essence and you buy the house before because it’s a better deal or because the exchange rate is better etc, it’s not a big deal as far as anything else other than having permission to live in Mexico. One advantage of owning with residency is the fact that if you sell your home you can use some of the expenses as losses and avoid capital gains tax. But that is only available to residents of Mexico.
3. Yes it does. See my explanation above
How does a retired individual on SS qualify to relocate to Mexico or is that even an option?
Hi Ken!
The minimum income requirements to qualify for residency in Mexico are
$2700 USD a month for the past 6 months
or
$43,000 USD in savings/investments – and that balance for the past 12 months.
Hope this helps!
My husband and I are in the process of purchasing a home in Mexico (currently located in USA). We have a daughter, age 18 who is still a dependent of ours who is coming with us. What is needed for her to obtain TR or PR? She is a legal adult, but still a dependent
Hi Mariana!
SO much useful information! But I am confused on some conflicting information you’ve given:
“You will need to have an income to show financial solvency when you apply, so yes you can use your current income when you apply. Once you get approved, you won’t have to show or prove that you still have this same income.”
and
“I just watched your video and heard you say a company letter needs to specifically say that my job will continue while I’m living in Mexico.”
I have been wondering about this as well, as I can’t find the info anywhere. My husband and I qualify individually with our current incomes. I also have close to $80K in a 401K. Our jobs are not ones that we can continue remotely. So do we have to prove that our incomes will continue with a company letter, or do we NOT have to prove that this income will continue?
Thank you SO much for your great info!
Hola Cheryl!
Some consulates will want you to have a letter from the company you work for stating that you will continue to have employment even after moving to Mexico. That’s for the initial consulate meeting.
Once you move to Mexico, to do your Canje, you will no longer need to show your income verification letter or any financial solvency. In case you’re wondering what canje is https://mexicorelocationguide.com/what-is-canje-in-mexico/
So basically what I am trying to say is that when you apply for residency at a Mexican Consulate overseas, they will want to see that you are financially solvent, and that you will have an income when you move to Mexico. But once you cross the border, the immigration authorities on the other side do not ask for any income verification.
Hola! I have an important question for you that is time sensitive. I believe I will qualify for the Temp Visa, and am leaving the US end of June (having an appt with Boston Mex Consulate to accomplish this). I meet the $ requirements for it.
My home in the US is under contract, and is scheduled to close MAY 25. The large proceeds from the home will enable me to meet the PERMANENT VISA requirements, but I’d planned on having my financial guy invest these proceeds almost immediately in a secure bond vehicle. This will throw off income for me, but over $400k will remain invested. The plan was to apply for the PERM VISA after 12 months, so that I could prove the financial requirement. Here is the question: will a Consulate approve of this large $USD amount when it is invested? I will not be able to simply put it in a savings account because I’ll need the income to live in Queretaro. Help! I need to know what to do with this money very soon. And I thank you in advance for the answer.
I just read an article https://expatriateconsultancy.com/countries-with-retirement-visas/ that stated Mexico visa monthly income of $1400 required. Then there are higher amounts given in other articles. I read the Mexican MDW and UMA used when determining the monthly income requirements for both Visas. Why is the MDW used in the U.S. and the UMA used in Mexico? We are retirees and our monthly income is SS $2287 so we do not qualify in San Francisco, CA but would in Mexico.
Can we travel to Mexico on the six month visa and then apply for a Temporary or Permanent Visa during our visit at a Mexican Consulate in Mexico. Or do we have to apply in the U.S.?
We are very confused. Is there a way to retire in Mexico with our SS.
Unfortunately that article is completely inaccurate.
Not sure where they got those income requirements from but I can guarantee you they are not up to date with 2023 requirements.
The 2023 requirements vary by consulate- here is the most up to date information I have https://mexicorelocationguide.com/visa-requirements-for-mexico/
UMA is not used at Mexican Consulates unfortunately. They use a different formula.
If you have savings, you could pay yourself a little more each month from your savings to make up the minimum difference after 6 months of paying yourself. The income minimum will vary by consulate.
Otherwise, you may also qualify by using savings or investment accounts.
Or if you simply don’t qualify this way you may also qualify through the special regularization program which is still being offered in some cities across Mexico. Find out if you qualify here https://mexicorelocationguide.com/regularization-program-residency-in-mexico/
Does the Phoenix AZ Mex Consulate consider Home Rental Income as qualifying Income for Residence Visa??
Hi there
All Mexican consulates consider your total income as long as it is deposited into a bank account. Those bank account statements are what Mexican consulates need as proof of income.
Hi Mariana,
Thank you for the useful information. Would you happen to know if Canadian Citizens can apply at some of the US consulates? Which ones? Could the income mentioned here be one’s regular income, or is it only online income that’s considered?
Many thanks 😊
Most US Consulates will want you to have at least residency in the USA. However, you could try
Las Vegas
McAllen
Phoenix
Houston
Raleigh
Orlando
When you receive a PERMANENTE Resident Visa is it truly Permanent? Can you leave the country and return at will provided you have a current US passport?
What must you do to receive Mexican Citizenship?
Thank you.
When you get a permanent residency it is truly permanent. Meaning you never have to renew it. And you can leave and return to Mexico as many times as you’d like. You also do not need to live in Mexico to remain a resident.
Hi Mariana – My wife and I are doing separate Permanent Residency applications. Most of our retirement assets are in Mutual Funds with T Rowe Price. TRP only issues investment statements every 90 days. Can we use 90 day statements at the Seattle Consulate or will they require monthly statements like a bank (getting a mutual funds monthly statement is impossible)? Also, we are both 66 and only one of us will start taking Social Security in 2024 while the other one waits until they are 70 to begin collecting the payout. Can we just explain that at the interview?
You can use your quarterly statements- but I would make sure I bring more than 1 years worth. Bring 1.5 years just to be sure you are over prepared. I would also make sure I bring my very latest statements in case you haven’t received them for this quarter by the time your appointment takes place.
RE: Temporary Residency For Couples
Hello Mariana,
I see we would need USA Bank Statements with a minimum monthly ending balance of $42,500.00 USD, would this amount be per person and double for a married couple, or is $42,500 USD enough for a couple?
Fully depends on the consulate. Some consulates want each person to meet the minimum financial requirements. And some consulates only want the main applicant to meet the minimum financial requirements but ask that dependents bring $800-$1000 USD a month additionally to be eligible. Even if you do not have the financial requirements as a spouse, don’t worry. Once you are in Mexico, your spouse can petition you as a family member without having to prove any additional solvency requirements.
If you need help with this process, I recommend hiring an immigration facilitator who is familiar with family unification. Toi get a list of my recommendations, check out our COMPLETE Mexico Relocation Guide mexicorelocationguide.com/guide
Thanks Mariana. Any tips on getting an appointment at the Seattle Mexican Consulate? The auto response email says they will respond in 4 to 6 weeks. It has been 2+ weeks since that message. My wife and I need to get the visa sorted by early September which is coming up fast. I do have a phone number and extension for the visa department. I have been holding off trying the phone or personally showing up at the consulate to try and make an appointment.
Any thoughts? Thanks – Stephan
Hi Mariana, I currently have enough in an investment account to qualify for temporary residency. I would like it to be able to get a bank account in Mexico and in a year or two I hope to move to Mexico and want things ready. Also if I find I need to move up the date, I’d like to at least have temporary residency. Right now my elderly father in his 90s may need my help so I’m not sure how long at a stretch I’ll be in Mexico this year.
I think to get the appointment and then to fill out the temporary residency form, it asks how long you will be in Mexico and what the dates will be. Is this necessary–to have exact dates of travel when I go for the interview? Do I need to say that I will be there longer than 6 months? I may be there for a month and later for a week and later for 6 weeks… But I would like to get the process started and be closer to permanent residency when I want that (so I thought it would be good to get temporary residency now)…
Many thanks for your thoughts,
Sally
My online job doesn’t meet the income requirements but I have enough in savings for that requirement. Can you qualify based on savings alone?
Hi Laura!
Yes you can use your savings to qualify. Keep in mind you will need to prove you have held the minimum amount required in a savings account for at least a year
I am retired and 68 years old. I do not meet the monthly salary requirements for either Temporary or Permanent Residency. I qualify for both residencies because I have enough money in savings but all my accounts are joint accounts (my mother is the 2nd name on the accounts.) Is this ok? Will the Mexican consulate accept bank statements in two names if only one of us is applying for residency?
Hi Barb
Most consulates will accept this as proof as long as your name appears on all bank statements.
If they ask, just explain that your mother is an authorized user of the account. But they will want to know if your income is the one that is qualifying you for residency.