RETIREMENT
How much money do you need to retire in Mexico?
The answer lies in your chosen lifestyle. If you envision a retirement in a place with affordable living costs and a warm climate, Mexico stands out as an ideal choice. However, keep in mind that your expenses will be tailored to your desired retirement lifestyle.
Eligibility criteria for retiring in Mexico are as follows:
– You should already be retired in your home country.
– Possess ample financial resources to lead a comfortable life in Mexico.
– Plan to reside in Mexico without engaging in any income-generating activities.
– Ensure that you are not benefiting from any income sources within Mexican territory.
Here are the necessary requirements:
Regardless of whether you are presently in Mexico on a tourist visa or still residing in your home country, you will be required to initiate the application process for a residential visa through the nearest Mexican Embassy or consulate.
1. Demonstrate that you have a pension with monthly income greater than the equivalent of five hundred days of the daily minimum wage ( 2024 ) during the last 6 months, which is approximately equivalent to US $7,300. Please note that this amount may vary at the time of your application .
2. Proof that your savings or investments in bank accounts with at least the equivalent of 20,000 of a minimum Mexican daily wage ( 2024 ) which is approximately US $292,883 in the past 12 months.
PROPERTY OWNERSHIP
How to own a property in Mexico?
There are numerous compelling reasons to own a property in Mexican real estate, including Mexico’s consistently favorable tropical climate, its captivating beach destinations, and the availability of essential services in its colonial cities.
If you own a residential property in Mexico with a market value of at least 40,000 Minimum Daily Wage ( 2024 ) which is equivalent approximately to $9,960,000 Mexican Pesos which equals roughly to $585,880 USD and this amount could vary based on the exchange rate at the time when you are applying.
To qualify:
– The property’s value must be free from any liens, debts, charges, or mortgages.
– For residential property in restricted zones, foreigners must establish a fideicomiso to hold the property title. This trust is valid for 50 years and can be renewed indefinitely.
– The recognized value is the one documented on the title deed.
– The name on the title deed must match that of the applicant. Following four consecutive years of maintaining temporary residency, you have the opportunity to apply for a change to permanent residency.
PERMANENT RESIDENCY
Permanent Residency is tailored for foreigners seeking to establish permanent residency in Mexico – either individually or with their family.
Eligibility criteria include:
– Having close family ties in Mexico.
– Having resided in Mexico for a minimum of four years while holding a temporary residency card, or being eligible to apply immediately if meeting the requirements.
– Having lived in Mexico for at least two years with a temporary resident card acquired through marriage to a Mexican citizen or permanent resident.
– Being a retiree with the intention of permanently residing in Mexico, supported by retirement income.
Advantages of the Mexico Permanent Resident card encompass:
– Bestowing upon the holder rights akin to those of a Mexican citizen, excluding voting privileges.
– Authorization to engage in employment.
– The Permanent Resident card is issued without an expiry date, allowing indefinite residency.
– Unlimited entry and exit from Mexico without restrictions.
TEMPORARY RESIDENCY
Temporary Residency is for people who want to live in Mexico for more than 180 days but no more than four years. To get it, there are different ways, like:
– Family reunification.
– Demonstrated economic solvency.
– Investment purposes.
– Pursuit of studies.
– Acquisition of property within Mexico.-
Benefits:
– Under this form of residency, foreign nationals can lawfully live in Mexico either independently or with their families.
– They have the option to establish a bank account.
– They have the opportunity to apply for a work permit.
– You can enter and leave Mexico as much as many times as you wish
– You can apply for a driver license
– Initially, the temporary residency card is valid for one year and can be extended for up to a maximum of four years.
Subsequently, after four years, individuals are eligible to apply for permanent residency
STUDENT VISA
Why study in Mexico.?
*Mexican Institutions offer hundreds of master’s degree programs in a wide range of subjects, including humanities, social sciences and engineering.
* Many programs are offered on a part time basis or have classes at night.
* obtaining a high-quality education at low cost.
* students can also experience Mexico’s diverse culture and natural beauty during breaks. International students planning to study in Mexico for more than six months must have a student visa, they will be required to submit certain documents, including a letter of acceptance from the educational institution, proof of financial solvency, and a valid passport.
The letter of acceptance serves as evidence that you have been admitted to an educational program in Mexico. This letter should be obtained from the educational institution where you will be studying and should include relevant details about the program and its duration.
Proof of financial solvency demonstrates that you have the financial means to support yourself during your stay in Mexico. This can be in the form of bank statements, scholarship letters or other documents that show you have sufficient funds to cover your expenses.
International students cannot work or engage in any remunerative activity while on a student visa.
FAMILY UNITY
Family reunification is a fundamental aspect of Mexican immigration, designed to bring families together and strengthen bonds across borders. This process allows Mexican citizens and permanent residents to sponsor their family members, including spouses, children, parents, and sometimes even extended family, for immigration to Mexico.
This immigration process enables foreign individuals to achieve Mexican Residency through the following means:
– Marriage to a Mexican Citizen or resident.
– Having a child born in Mexico.
– If you are a foreigner with a parent possessing legal residency in Mexico.
The type of residency, whether temporary or permanent, is determined by your familial relationship. For instance, if you are the spouse of a Mexican citizen or permanent resident, you can qualify for permanent residency after two years.
It’s important to note that a Mexico Family Visa does not inherently grant you work authorization, except in the case of obtaining a permanent card.
INVESTMENT
The Mexico Investor Visa enables foreigners with investments in Mexico to reside in the country for up to four years. If your intention is to establish a business in Mexico, this approach may be the most effective means of securing your residency.
To secure a Mexican Investor Visa, it is a requirement that you maintain investments within the country amounting to 20,000 daily general minimum wage, equivalent to roughly US$ 292,882, this amount could vary when you apply. This investment must be genuinely utilized, with no exceptions.
Demonstrate ownership equity in a Mexican company.– Present documentation confirming ownership of equipment utilized for business operations.– Provide documentation illustrating your engagement in business activities in Mexico and the employment of at least three Mexican workers. It’s crucial to grasp that Mexican authorities rigorously scrutinize each application for the Mexico Investment Visa. The primary objective behind this visa category is to stimulate foreign investment.
We are here to offer our assistance with visa applications and to streamline your investment journey.
WORK VISA
Mexico is an emerging nation experiencing robust economic growth, which has created a demand for skilled and knowledgeable workers. The country highly values the expertise and experience that individuals from around the world can bring to its workforce.
If you’re a foreign national seeking employment in Mexico, you must secure a job offer to obtain a work visa. Without a valid job offer, you cannot engage in any work-related activities within the country. Your employer can initiate the application process by submitting your visa request to the National Immigration Institute (INM) on your behalf.
While this application process unfolds, you may reside in Mexico under a tourist visa. However, it’s important to note that you’ll eventually need to leave Mexico and visit the Mexican consulate in your home country for an interview and to collect your work visa. Once you have obtained your work visa, you can exchange it for a temporary residency card, which permits you to work legally within Mexico.
This process ensures that individuals who wish to contribute their skills and expertise to Mexico’s growing economy can do so through a well-regulated and legally compliant procedure.