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Mexico Permanent Residency Made Easy

Mexico offers many advantages to expats. The cost of living is extremely low relative to first-world standards, so you can save a lot of money even while enjoying a pretty high standard of living. The food is incredible, and you can enjoy the convenience and deliciousness of taco stands and inexpensive restaurants.

Eating out is very affordable. You could easily eat out every meal without breaking even a modest budget, should you be so inclined. And the Mexican diet can consist of many healthy foods if you make careful choices.

Mexico is close to many other great destinations, like the Caribbean, the United States, and South America and a center for tourists. Mexico City is a central transport hub that many flights go through, and domestic travel is inexpensive. Spanish is a great language to learn, relatively easy to pick up and is one of the most commonly spoken languages as a native tongue in the world. And Mexico has many great coastal regions that are both safe and excellent places to stay. Just make sure to bring your sunscreen!

 

Tulum Beach, Mexico

Tulum Beach, Mexico

Mexico permanent residence

There are two general kinds of immigration permit for Mexico: immigrant and non-immigrant. A non-immigrant permit is for a short stay. Say you want to go to the Mexican Grand Prix this is the permit you will go for. Then there is the immigrant permit; these are for a long-term stay, and I will explain them to you.

The first step in establishing permanent residency in Mexico is to apply for it at the Mexican consulate or embassy in your home country. There are also specific requirements before you can establish residency in Mexico.

One way to qualify is if you have family in Mexico; another is if you find employment there. Students who are attending university in Mexico qualify for temporary residency. Individuals who have lived in Mexico temporarily for four years can then apply for permanent residency.

When applying for Mexican permanent residency at the consulate, ensure you bring a visa application form duly completed and signed, as well as your passport and documents. If you are applying from a third country (not your home country), you will also need documents proving the legality of your entry into that third country. And you must also bring a 3.9 cm x 3.1 cm photo. All of this will be brought to the nearest embassy or consulate. For more details and advice, you can always click here to talk to me.


Related content: The Basics Of How To Get A Second Passport Or A Second Residency

 

Independence Monument in Mexico City, Mexico

Independence Monument in Mexico City, Mexico

REQUIREMENTS FOR MEXICO permanent residence

There are different requirements based on the reason why you are applying for permanent residency. If you are applying on the basis of family unity, then you should bring your birth certificate (both the original and a photocopy), as well as documentation demonstrating the Mexican citizenship of your familial connection.

You can also apply if you have ties to a foreigner with a permanent resident visa, including marriage, and should bring your documents again. In the case of this latter form of application, you must also demonstrate economic solvency in the form of a bank account with a balance of at least $1000 USD every month over the last twelve months.

For those who are applying as retirees, it is important to bring either proof of your pension, or a bank account with an average balance of at least $180,000 over the past 12 months.

Permanent visa applicants must demonstrate that they have a monthly income of between $4,300 USD and $4,500 USD over the previous six months. Or, same as with a retiree, show a balance of $180,000 USD over the past 12 months.

 

Mexico on a Map-1

Map of Mexico

familial ties

The following familial ties with a Mexican citizen or a foreigner with a permanent residence visa are recognized as a cause for a permanent residency visa:

  • Child
  • Parent
  • Spouse or common-law partner
  • Sibling

benefits of Mexican permanent residence

Of course, the most obvious benefit of a Mexican permanent residence permit is that you can stay in Mexico indefinitely, but there are many other benefits. Essentially, by establishing permanent residence, you can start the process of becoming a Mexican citizen, the only thing you will not have permission to do is to vote in their elections. But you will possess all the other rights that Mexicans enjoy, such as the right to work, and the right to enter and leave Mexico at will.

 

Otomí Ceremonial Center, Temoaya, Mexico

Otomí Ceremonial Center, Temoaya, Mexico

Mexican temporary resident

You don't have to limit yourself to the permanent resident route, you can also apply to become a temporary resident of Mexico. You will need to demonstrate financial solvency in order to qualify for this visa, either in the form of an income of $2,600 USD a month or in the form of savings in excess of $43,000 USD. Just as in the case of permanent residency, you must apply at the Mexican consulate in your home country or in a third country if you are travelling when you decide you want to apply. Alternatively, you can apply on the basis of having a job in Mexico, in which case the company that is hiring you would submit paperwork on your behalf demonstrating that you have employment.

A temporary residency is valid for just one year after it is granted but can be renewed three times for a total of four years of residency. Then, once you have exhausted your limit of four temporary years, you can apply for permanent residency.

Students who are studying in Mexico can also qualify for temporary residency. They must also be able to demonstrate either their financial means or if they are under 25, then the ability and desire of their parents to extend economic support to them and their studies. A scholarship can also suffice for these purposes. The financial resources or scholarship in question must be of at least a value of 17,000 Mexican pesos ($858 USD).

Both property and shareholders in a Mexican business can also apply for temporary residence, on the basis of their properties or company ownership. In this case, the value of the property in question must be at least 6,840,000 Mexican pesos ($345,365 USD). Another option for temporary residence is if you are going there to volunteer, like if you are working with a church group or non-profit organization on an unsalaried basis. In that case, you must prove financial means in the amount of at least 855,000 Mexican pesos ($43,170 USD), either in the form of a checking balance or statements of investments like a brokerage account.

 

Pyramid of Kukulkán, Chichen Itza, Mexico

Pyramid of Kukulkán, Chichen Itza, Mexico

CONCLUSION

Mexico is a beautiful country for tourists, and its residents are very welcoming of foreigners. Outside of tourism, Mexico also offers many different visas for residency, from temporary to permanent and even citizenship. Similar to Mexico's cost of living, their residency programs also have very low financial requirements. While living in Mexico, you will never be bored; there are countless places to see and explore.

 

WORK WITH ME

I help my clients to move offshore for freedom, privacy and autonomy by focusing on the immigration, legal, and tax issues that you will face when becoming an expat. If you would like to work one-on-one with me on getting out of Canada or the USA (or setting up a Plan-B location), then read this important letter and fill in an application form to become a Private Client. My fees are not cheap; however, I can assure you that when you work with a professional firm like ours, the results will be worth it.

 

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Mikkel Thorup

Written by Mikkel Thorup

Mikkel Thorup is the world’s most sought-after expat consultant. He focuses on helping high-net-worth private clients to legally mitigate tax liabilities, obtain a second residency and citizenship, and assemble a portfolio of foreign investments including international real estate, timber plantations, agricultural land and other hard-money tangible assets. Mikkel is the Founder and CEO at Expat Money™, a private consulting firm started in 2017. He hosts the popular weekly podcast, the Expat Money Show, and wrote the definitive #1-Best Selling book Expat Secrets - How To Pay Zero Taxes, Live Overseas And Make Giant Piles Of Money.

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