Are you eligible for Residency in Mexico 2024? (Understanding Mexican Residency Visas)

FREE Resources Mentioned in this Video

Please see the 2024 requirements here
Mexican Temporary Resident (Residente Temporal)
For temporary residency, the following formula is used, and we have an approximate amount in USD based on an exchange rate of 18 MXN to 1 USD.

Monthly Income Requirement
Formula: 300 x daily minimum wage
Total in USD: Approximately $4,150 USD per month
Or Proof of home ownership in Mexico worth at least $553,000 USD
Savings Requirement
Formula: 5,000 x daily minimum wage
Total in USD: Approximately $69,167 USD
The income requirements vary by consulate and are NET (after taxes).

Mexican Permanent Resident (Residente Permanente)
For permanent residency in Mexico, the economic solvency requirements are typically higher. Using a daily minimum wage of 249 MXN and an exchange rate of 18 MXN/USD, here are the updated totals:

Monthly Income Requirement
Formula: 500 x daily minimum wage
Total in USD: Approximately $6,917 USD per month
Savings Requirement
Formula: 20,000 x daily minimum wage
Total in USD: Approximately $276,667 USD
The income requirements vary by consulate and are NET (after taxes).

Chapters
00:00 Introduction
00:32 Are you eligible to move to Mexico?
00:53 Types of Residency Visas in Mexico
02:47 Temporary Residency Requirements
03:44 Requirements Vary by Mexican Consulate
05:47 Permanent Residency Requirements
07:16 Regularization Program in Mexico
08:37 Requirements for Family Members
11:01 How to Get the MOST Up to Date Info

[MexicoRelocationGuide]

FREE Resources Mentioned in this Video

[MexicoRelocationGuide]

Please see the 2024 requirements here
Mexican Temporary Resident (Residente Temporal)
For temporary residency, the following formula is used, and we have an approximate amount in USD based on an exchange rate of 18 MXN to 1 USD.

Monthly Income Requirement
Formula: 300 x daily minimum wage
Total in USD: Approximately $4, 150 USD per month
Or Proof of home ownership in Mexico worth at least $553, 000 USD
Savings Requirement
Formula: 5, 000 x daily minimum wage
Total in USD: Approximately $69, 167 USD
The income requirements vary by consulate and are NET (after taxes).

Mexican Permanent Resident (Residente Permanente)
For permanent residency in Mexico, the economic solvency requirements are typically higher. Using a daily minimum wage of 249 MXN and an exchange rate of 18 MXN/USD, here are the updated totals:

Monthly Income Requirement
Formula: 500 x daily minimum wage
Total in USD: Approximately $6, 917 USD per month
Savings Requirement
Formula: 20, 000 x daily minimum wage
Total in USD: Approximately $276, 667 USD
The income requirements vary by consulate and are NET (after taxes).

[bobnankervis]

Hello from Mt. Shasta Ca. I applied for and received my permanent residency through the Yuma consulate in February. Permanent residency required either $293k savings or $7500 per month. I finalized my residency in Puerto Vallarta in March (the day after I arrived). I would highly recommend using a facilitator when you finalize in Mexico. I would not have wanted to figure it out on my own, especially since I don't speak Spanish. The small cost of the facilitator is well worth it. After receiving my Permanent Residency card (one day after arriving) I purchased a condo there. I would not have qualified if I had purchased the condo first. Keep that in mind if you are using your savings to qualify and intend to buy a home there

[harrisongang]

Marianna, your videos are excellent! They are always informative, well planned, and personable. You, your Mexico Relocation Guide and your channel are a true asset to anyone considering moving to Mexico!

[siouxrose]

Thank you, Marianna for all of this helpful information. I just checked the solvency requirements for different U.S. cities/embassies and the variations are quite remarkable. At least there are a few that have thresholds I could meet. Granted, I have to travel over 1000 miles to any one of them!

[hewer]

Watching from Querétaro. Been permanent resident since 2018

[hotrod]

Hello from London Ontario, Canada. Cheers!

[johnwakefield]

DFW metro is where I am 2viewing from. Planning my first trip til interior Mexico and so happy I have the relocation guide.

[simone]

Marianna you have done it again! You cover everything to splendidly! Thank you again! Such a gift.

[terrydonohue]

Awesome content, as always! Thank you from Mazatlan🎉😊

[seananthony]

Watching from Palm Beach County, Florida

[chopperbob]

Very good! Thank you from Windsor Ontario Canada🇨🇦🇨🇦🇨🇦

[dbelcher]

We are in the Pacific Northwest in the United States.

[meaganpage]

Great video! Thanks! With the temporary residency visa, are you allowed to bring immediate family members along? And if so, does that increase the monthly income requirements?

[AA-julk]

Great video, as usual! Regarding the suggestion about applying for residency long before one might need it, I have a question that I have not seen addressed anywhere. Hopefully, you can help! 🤞 Here’s the question: Once the six-month window for the menaje de casa expires, how does one move one’s furniture and other personal items to Mexico? Can the menaje de casa window be extended? Alternatively, is it possible to hire movers to move one’s things to Mexico and pay custom duties on one’s used furniture, etc.? Any insight and resources you might provide would be deeply appreciated! Thanks in advance!

[julieann]

Hi Mariana, Do you think the regularization program will continue into 2025? Thank you! Love your videos.

[aprilreallydances]

Watching from the Central Coast of California. 🙂

[lisam]

Hola 👋 Durham region Ontario, Canada here !!

[cleanstreet]

Your videos are so informative, Marianna! Thank you. 😀
In regards to the "Special Program, " having visited Mexico before 2022. How far back can this be? I was last in Mexico in that qualify?

[KennethCouch-folo]

I wish I could but I only have social security check and it only $1, 350 a month.