Read my comprehensive guide to becoming a Mexico Temporary Resident. From initial visa application in your home country to picking up your official resident card in Mexico, this article provides a structured step-by-step guide, real-world expat experiences, examples of required documents, and costs.
How come EVERY site I go to has different -- VERY different -- dollar figures for amounts of income and savings required? Every one.
TEMPORARY RESIDENCY (6 mos at a time), savings 50-75K
PERMANENT RESIDENCY, savings 220-300K
https://mexicorelocationguide.com/visa-requirements-for-mexico/
Residency in Mexico Financial Requirements 2024- By Consulate
MARIANA LANGE
Last Updated on January 26, 2024
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The right two columns highlight Permanent Residency through monthly income or Permanent Residency through savings. N/A means I don’t have their information, or they have not responded to me.
You only need to prove one, not both. Income requirements are NET- or after taxes. However, the consulates ultimately look at your balances from your bank statements.
Hi Alan, Sorry for your frustration. The answer is two reasons. One, the Mexican Peso to USD Exchange rate. The currency is going crazy. There has been as much as a 15% swing in the last year, so prices quoted will change depending on the exchange rate. Two, and this is frustrating, but each Mexican consulate can set their own financial requirements. Depending on which consulate you go to, the financial requirement can change by 70%. Your best bet is to check the financial requirements of the specific consulate you will be applying to.
Hi-You mentioned hiring an immigration lawyer to cut through the bureaucracy in Mexico when getting a temporary residency visa. Do you have any suggestions of how to find someone and how to know if they're legitimate/overcharging etc.? Thanks so much!
Hi Marcy, It's beneficial (though not technically required) to choose a lawyer in your city. They will have a better grasp of the nuances of the INM office there and it's easier for you two to meet and work with each other. Where do you plan on living?
Thanks for all the valuable info and tips! You didn't mention student visas, which I have heard can be converted to temporary residency. Do you have info about that route?