🇲🇽 Mexico Temporary Residency (Full Guide)

Summary

This video explains the process of obtaining temporary residency in Mexico, ideal for those seeking an extended stay or a 'Plan B' residency. It outlines the application process, including requirements like proof of financial solvency through income or savings, and the steps of applying through a Mexican consulate. The benefits of temporary residency include long-term stay without border runs, the ability to work or start a business, and the possibility of eventually transitioning to permanent residency. The video also emphasizes the importance of legal advice and language skills when navigating the process.

Takeaways

• 😀 Temporary residency in Mexico allows you to stay for up to four years with the option to renew to permanent residency.
• 😀 You can apply for temporary residency through proof of financial solvency, either via monthly income (~$4,200 USD) or savings/investments (~$70,000 USD).
• 😀 Crypto and real estate assets do not count as proof of financial solvency; only cash or easily verifiable investments like stocks are accepted.
• 😀 Required documents for applying include your passport, proof of income or savings, photos, and possibly a marriage certificate.
• 😀 The application process involves preparing documents, making an appointment with the Mexican consulate, and attending a consulate interview.
• 😀 Once approved, you will receive a 180-day visa, which you must use to enter Mexico within that period.
• 😀 After entering Mexico, you must visit the National Migration Institute (INM) within 30 days to exchange your visa for a residency card.
• 😀 Temporary residency offers the benefit of long-term stays without the need for frequent border runs, eliminating the need for reentry every 6 months.
• 😀 With temporary residency, you can also apply for work rights and start a business in Mexico, although the residency itself doesn’t automatically grant work rights.
• 😀 There is no physical presence requirement for temporary residency, making it a useful 'backup' residency for those who plan to live elsewhere but want to maintain residency in Mexico.
• 😀 Renewals are required, with an initial one-year term followed by up to three more years. After four years, you can apply for permanent residency.
• 😀 While Spanish proficiency is not mandatory, it can make life in Mexico much easier. Language tutoring services are available for those looking to learn.

Q & A

What is temporary residency in Mexico?

Temporary residency in Mexico is a visa that allows you to stay in the country for more than 180 days, typically up to four years, with the possibility to renew it for permanent residency.

What are the main ways to prove financial solvency when applying for temporary residency?

There are two main ways to prove financial solvency: 1) Showing a monthly net income of around $4,200 USD, and 2) Demonstrating savings or investments amounting to approximately $70,000 USD (excluding crypto or assets like property).

Can you use cryptocurrency or property as proof of savings for temporary residency?

No, cryptocurrency and property (like a house) are not accepted as proof of savings. Only cash in the bank, stocks, or similar financial products that can be backed by a bank statement will be considered.

What documents are required for the temporary residency application?

To apply for temporary residency, you'll need your passport, proof of income or savings, photos, and possibly additional documents such as a marriage certificate if you're married.

What is the process of applying for temporary residency in Mexico?

The application process involves preparing the necessary documents, making an appointment with a Mexican consulate, attending a consulate interview, and after approval, entering Mexico to exchange the visa for a residency card.

How do I get my residency card after arriving in Mexico?

After entering Mexico with your visa, you must visit a National Migration Office (INM) within 30 days to exchange your visa for an actual residency card, which will be a green and white wallet-sized card.

What are the benefits of having temporary residency in Mexico?

Temporary residency allows you to stay in Mexico for up to four years without the need for border runs, offers the possibility to work legally (with additional steps), and lets you start a business in Mexico. Additionally, there's no physical presence requirement, making it a backup residency option for you and your family.

Do I need to be physically present in Mexico for the entire duration of my temporary residency?

No, temporary residency in Mexico doesn't require continuous physical presence. You only need to be in Mexico when renewing your residency card or completing other required processes.

How long does it take to renew temporary residency, and what happens after the renewal period?

Temporary residency is typically renewed every year, with a possible renewal period of 3 additional years after the first year. After a total of four years, you can apply for permanent residency.

Is Spanish proficiency required for obtaining temporary residency in Mexico?

Spanish proficiency is not mandatory for obtaining temporary residency, but it may help in daily life. Some consulates may ask questions about your Spanish ability during the interview process.