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How to Get a Residency in Mexico in 2024: A Guide for Retirees and Investors


Are you dreaming of living in Mexico permanently? Whether you want to retire in paradise, start a business, or enjoy a new lifestyle, obtaining a residency in Mexico can be a game-changer. But navigating the complex immigration system can be daunting, especially if you’re unfamiliar with the requirements and procedures or the language.


That’s why we’ve put together this ultimate guide to obtaining a residency in Mexico in 2024. We will cover everything, from the different types of visas to the application process to the benefits of becoming a resident-


Our comprehensive guide is designed to help you achieve your goal of living in Mexico hassle-free. You’ll discover the steps, the documents you need, and the common pitfalls to avoid.


So whether you’re a digital nomad, a retiree, or a semi-retired, read on to learn everything you need to know about obtaining a residency in Mexico in 2024.

permanent residency

Benefits of Residency in Mexico


There are many benefits to obtaining a residency in Mexico. One of the most significant benefits is the ability to work legally. With a residency visa, you can work for any employer in Mexico without a work permit. And if you have social security benefits or other pensions paid to you by your home country, you do not have to pay taxes in Mexico.


Another benefit of obtaining a residency in Mexico is the ability to travel in and out of the country without restrictions. With a residency visa, you can leave and re-enter Mexico as often as you’d like with no issues. This is a significant advantage for those who frequently travel back and forth to visit family in the U.S. or Canada. And there is no law requiring you to live in Mexico permanently, so you can leave Mexico for an extended amount of time and still remain a resident.



Types of Residency Visas in Mexico


There are four types of residency visas in Mexico. Each visa has its requirements and benefits. They are:

  • Temporary Residency Visa: This visa is valid for up to four years and can be renewed annually. It is ideal for those who want to live in Mexico temporarily or are not sure if they want to stay permanently. To qualify for this visa, you must prove that you have a monthly income of at least $3,275 USD or savings of at least $32,750 USD. Alternatively, you can qualify by owning a property in Mexico worth at least $218,000 USD or investing at least $109,000 USD in a Mexican business.


  • Permanent Residency Visa: This visa is valid indefinitely and does not need to be renewed. It is ideal for those who want to live in Mexico permanently and enjoy all the rights and benefits of a Mexican citizen, except voting. To qualify for this visa, you must prove that you have a monthly income of at least $5,460 USD or savings of at least $54,600 USD. Alternatively, you can qualify by having a family relationship with a Mexican citizen or permanent resident, such as a spouse, child, or parent. You can also qualify by living in Mexico for four years with a temporary residency visa or two years if you are married to a Mexican citizen or permanent resident.


  • Retiree Residency Visa: This visa is a special type of permanent residency visa for retirees who are at least 60 years old and have a pension or social security income. To qualify for this visa, you must prove that you have a monthly income of at least $4,300 USD. The benefit of this visa is that you do not need to prove any savings or assets, and you can apply directly for permanent residency without going through the temporary residency stage.


  • Investor Residency Visa: This visa is a special type of temporary residency visa for investors who want to start or expand a business in Mexico. To qualify for this visa, you must prove that you have invested at least $54,600 USD in a Mexican company or project. The benefit of this visa is that you can apply for permanent residency after two years of living in Mexico with this visa, regardless of your income or savings.


How to Apply for a Residency Visa in Mexico


The application process for a residency visa in Mexico consists of two main steps: applying for a visa at a Mexican consulate abroad and applying for a residency card at an immigration office in Mexico. Here is a brief overview of the steps involved:


  • Step 1: Apply for a visa at a Mexican consulate abroad: The first step is to visit your nearest Mexican consulate and apply for a visa that suits your situation and goals. You will need to fill out an application form, pay a fee of $48 USD, and provide the following documents:

    • A valid passport and a color photo

    • Proof of income or savings, such as bank statements, tax returns, or pension letters

    • Proof of property ownership or investment, if applicable

    • Proof of family relationship, if applicable

    • A letter of intent, explaining why you want to live in Mexico and what your plans are


  • Step 2: Apply for a residency card at an immigration office in Mexico: Once you receive your visa, you have 180 days to enter Mexico and register with the National Immigration Institute (INM). You will need to fill out an application form, pay a fee of $200 USD, and provide the following documents:

    • Your passport and visa

    • A copy of your entry stamp

    • A proof of address in Mexico, such as a utility bill, a rental contract, or a letter from your landlord

    • A proof of payment of the fee

    • A set of fingerprints

    • A color photo


After you submit your application, you will receive a temporary residency card that is valid for one year. You can renew your card annually until you reach the four-year limit or apply for permanent residency. If you already have a permanent residency visa, you will receive a permanent residency card that does not expire.



Tips and Tricks for Getting a Residency in Mexico


Getting a residency in Mexico can be a smooth and rewarding process if you follow some tips and tricks. Here are some of the best practices to keep in mind:


  • Do your research: Before you apply for a residency visa in Mexico, make sure you do your research and understand the requirements and benefits of each visa type. You can use the official website of the Mexican government, the 1, or consult with a reputable immigration lawyer or agency in Mexico.


  • Plan ahead: The application process for a residency visa in Mexico can take several weeks or months, depending on the type of visa, the consulate, and the immigration office. Therefore, it is advisable to plan ahead and start your application well in advance of your desired date of arrival in Mexico. You should also prepare all the documents and fees you need before you visit the consulate or the immigration office.


  • Be flexible: The immigration rules and regulations in Mexico can change frequently and vary by consulate and immigration office. Therefore, it is important to be flexible and adaptable to any changes or requests that may arise during your application process. You should also be prepared to deal with some bureaucracy and delays that are common in Mexico.


  • Be respectful: When you apply for a residency visa in Mexico, you are dealing with officials who have the authority to approve or deny your application. Therefore, it is essential to be respectful and courteous to them and follow their instructions. You should also dress appropriately and avoid any confrontations or arguments that may jeopardize your chances of getting a residency in Mexico.



Conclusion


Getting a residency in Mexico is not as hard as you may think. As long as you meet the financial criteria and follow the application process, you can obtain a temporary or permanent residency visa and enjoy the benefits of living in Mexico.

So what are you waiting for? Start planning your move to Mexico today and make your dream come true. You won’t regret it.



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