Getting residency in Mexico 2025.

Summary

In this video, Marc and Paulette discuss the rising financial requirements for obtaining temporary and permanent residency in Mexico for 2025. They highlight the challenges of meeting these increasing demands, including higher monthly income and investment thresholds, and the impact of Mexico's changing minimum wage rates. The couple urges prospective expats to act quickly before the requirements become even more difficult to meet. They also suggest exploring different consulates, as requirements can vary. Their advice is clear: if you can qualify now, do it as soon as possible to avoid future hurdles.

Takeaways

• 😀 The financial requirements for both temporary and permanent residency in Mexico have significantly increased for 2025.
• 😀 Different consulates in Mexico may have varying requirements, and it’s crucial to consult each consulate’s website or social media for specifics.
• 😀 For temporary residency in Mexico, the required monthly income is $4,400 USD (or $5,974 CAD) based on 300 days of the Mexican minimum wage.
• 😀 A financial investment requirement of 73,370 USD (or $99,576 CAD) is needed for temporary residency, based on 5,000 days at the Mexican minimum wage.
• 😀 Home ownership in Mexico must be valued at 1.1 million pesos per person, which roughly equals $1.1 million USD or more than 1 million CAD for two applicants.
• 😀 Permanent residency requirements are similar to those of temporary residency but with higher income and investment thresholds, and evidence of pension payments may be needed if applying directly for permanent residency.
• 😀 For permanent residency, the monthly income requirement is $7,323 USD (or $9,957 CAD), calculated from 500 days at the Mexican minimum wage.
• 😀 The required investment for permanent residency is $293,500 USD (or $397,615 CAD), based on 20,000 days at the Mexican minimum wage.
• 😀 Applicants need to show 12 months of individual bank statements to qualify for either temporary or permanent residency, which is a challenging requirement for many people.
• 😀 It's strongly advised to apply as soon as possible for residency in Mexico, as financial requirements continue to increase each year, and waiting could make qualification much harder.

Q & A

What are the financial requirements for temporary residency in Mexico for 2025?

For temporary residency in 2025, you need a monthly income of $4,400 USD or $5,974 CAD, or an investment of $73,370 USD (or $99,995 CAD). These amounts are based on the Mexican minimum wage of 279 pesos per day.

How do consulate financial requirements for residency vary?

Each consulate has its own financial requirements, which may differ based on the country you apply from. The amounts are generally calculated using the Mexican minimum wage, but some consulates may also request original financial documents, such as bank statements.

How does the minimum wage in Mexico affect residency requirements?

The Mexican minimum wage affects residency requirements because the financial qualifications are based on a multiple of the daily wage. For example, both temporary and permanent residency qualifications are calculated based on a certain number of working days at the minimum wage.

Why is it important to apply for residency in Mexico sooner rather than later?

The financial requirements for residency in Mexico have been increasing by approximately 20% annually. If you wait too long, it could become more difficult to meet the requirements as they continue to rise, potentially making it impossible for some to qualify.

What are the home ownership requirements for residency in Mexico?

To qualify for residency through home ownership, the value of your property must be at least 11,100,000 pesos (around $1.1 million USD) for one person. If two people are applying, the value must be double. This figure is based on the minimum wage calculation.

How does permanent residency differ from temporary residency in Mexico?

The financial requirements for permanent residency are similar to those for temporary residency, but consulates in the US often expect applicants to be retired and show proof of a pension or Social Security payments. Permanent residency applicants may also need to show additional investment funds.

What is the required monthly income for permanent residency in Mexico?

For permanent residency in 2025, you need a monthly income of $7,323 USD or $9,957 CAD, or an investment of $293,500 USD (or $397,615 CAD). This is based on a calculation of 500 days times the Mexican minimum wage.

Can you apply for permanent residency directly in Mexico?

Yes, you can apply for permanent residency directly in Mexico, but many consulates require proof that you are retired and receive regular income, such as a pension. If you're not retired, you may need to prove sufficient income from investments or other sources.

What impact does the rising minimum wage in Mexico have on residency applications?

As the minimum wage in Mexico rises, the financial requirements for residency applications also increase. This makes it harder for people to meet the qualifications for both temporary and permanent residency, especially for those relying on income that isn't tied to investments or pensions.

What should you do if you meet the financial requirements but haven't yet retired?

If you meet the financial requirements but haven't retired, you should still apply as soon as possible. It may be useful to consult different consulates, as some may allow you to qualify for permanent residency based on investments, even if you're still working.