Overview
Most Mexican residency applications are approved based on "economic solvency," requiring applicants to demonstrate sufficient financial means (income or savings) to support themselves in Mexico.
Application Process
Primary Rule: Most initial residency applications must be submitted through a Mexican consulate abroad, unless you qualify for one of the few exceptions that allow applying within Mexico (primarily related to "family reunification").
How Economic Solvency is Determined
Applicants must demonstrate either:
- Minimum monthly income for a specified period, OR
- Minimum savings/investments maintained for a specific timeframe
Calculation Basis
Outside Mexico (Consulates): Calculations based on daily Minimum Wage (MW) Inside Mexico (Immigration Office): Calculations based on UMA (Unidad de Medida y Actualización)
Current rates (2022):
- UMA: 96.22 Mexican pesos
- MW: 172.87 Mexican pesos
- Exchange rate used in examples: 19 MXN = 1 USD
Financial Requirements by Visa Type
Temporary Residency Visa
Monthly Income Option:
- 300 MW/UMA required
- At consulates: ~USD 2,730 monthly
- In Mexico: ~USD 1,519 monthly
Savings Option:
- 5,000 MW/UMA required
- At consulates: ~USD 45,492 total
- In Mexico: ~USD 25,353 total
Permanent Residency Visa
Monthly Income Option:
- 500 MW/UMA required
- At consulates: ~USD 4,549 monthly
- In Mexico: ~USD 2,532 monthly
Savings Option:
- 20,000 MW/UMA required
- At consulates: ~USD 181,968 total
- In Mexico: ~USD 101,284 total
Additional Requirements for Dependents
Each dependent (spouse, minor children):
- Additional 100 MW/UMA in monthly income or savings
- At consulates: ~USD 910
- In Mexico: ~USD 506
Students (temporary residency):
- Monthly income: 100 MW/UMA
- Savings: 1,000 MW/UMA
- Same USD amounts as dependents
Standard Consulate Requirements (2022)
Most Mexican consulates abroad use these practical thresholds:
Temporary Residency
- Monthly income: USD 2,400-2,700 for the last 6-12 months
- OR savings: USD 45,000 maintained for 12 months
Permanent Residency
- Monthly income: USD 4,300-4,500 for the last 6-12 months
- OR savings: USD 180,000 maintained for 12 months
Alternative Qualification Methods
Real Estate Ownership (Temporary Residency Only)
Requirements:
- Own residential property in Mexico (not abroad)
- Property value: 40,000 MW/UMA
- Estimated value: USD 363,937 (MW basis) or USD 202,568 (UMA basis)
- Property must be mortgage/lien-free
- Title deed must match applicant's name
Note: Cannot directly apply for permanent residency via property ownership, but can convert after 4 consecutive years of temporary residency.
Investment-Based Visa (Temporary Residency Only)
Requirements:
- Commit to invest in Mexican private company or Mexican stock exchange
- Minimum investment: 20,000 MW/UMA
- Estimated amount: USD 182,000 (MW basis) or USD 101,284 (UMA basis)
- More complex application process than economic solvency
Note: Same as property - can convert to permanent after 4 years.
Important Guidelines
Documentation
- Income/savings can be shown from multiple sources/accounts
- Cryptocurrency accounts are NOT accepted as savings
- Time periods vary by consulate (6-12 months typically)
Spouse/Partner Considerations
- Married couples: Present marriage certificate
- Civil partnerships: Check specific consulate requirements
- Don't need to show double the financial requirements - one spouse qualifies as primary applicant, other as dependent
Dependent Children
- Only minor children (under 18) qualify as dependents
- Each child requires additional 100 MW/UMA demonstration
Exchange Rates
- Each consulate may use different exchange rates
- Requirements can vary between consulates
- Always verify current rates with specific consulate
Special Considerations
Permanent Residency Limitation: Many (but not all) consulates only approve permanent residency for retirees, even if applicants meet financial requirements. Non-retirees are typically offered temporary residency instead.
Student Visas: Lower financial thresholds but come with restrictions that standard residency doesn't have. Work permits can be obtained separately.
Application Review: Each application is reviewed individually. Consulates and immigration offices retain full discretion to approve or deny applications.
Action Steps
- Determine application location: Consulate abroad vs. Mexico immigration office
- Choose qualification method: Income, savings, property, or investment
- Calculate specific requirements based on your situation and dependents
- Gather financial documentation for required time period
- Verify current exchange rates with your specific consulate
- Prepare additional documents (marriage certificates, birth certificates, etc.)
- Submit application with all required documentation
Final Notes
- Financial amounts are calculated in Mexican pesos but most applicants deal in foreign currencies
- Requirements and exchange rates can vary between consulates
- Always consult with the specific Mexican consulate where you plan to apply for the most current requirements
- Consider consulting with a Mexican immigration attorney for complex situations