Qualify for a Temporary Residency Visa by Investing in Mexico - MexLaw (2024)

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Qualify for a Temporary Residency Visa by Investing in Mexico - MexLaw (2024)

FAQs

Can I get residency if I buy property in Mexico? ›

However, purchasing property in Mexico can be a part of your financial proof when applying for a temporary or permanent residency visa. For these visas, you need to demonstrate economic solvency, which means showing you have enough funds or a steady income to support yourself in Mexico.

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

Residency in Mexico Through Monthly Income

If you are applying for residency in Mexico using your monthly income to fulfill the financial criteria, you have to ensure that your monthly income is at least USD $4,350 for temporary residency and USD $7,300 for permanent residency.

How to get Mexican residency investment? ›

It's worth noting that there is no direct path to Mexican citizenship through investment. However, investing in the country can qualify you for temporary residency, which is a stepping stone to permanent residency. After four consecutive years of maintaining your temporary status, you can apply for permanent residency.

How long can I stay in Mexico if I buy a house? ›

The “Temporary Resident Visa” is recommended for those who choose to own property in México. After four years it can be converted into a “Permanent Resident Visa”.

Does Mexico offer citizenship by investment? ›

While you cannot directly buy Mexican citizenship, you can opt for the Mexican citizenship-by-investment route. This requires you to invest $123,330 in Mexican real estate and $86,000 in shares in a Mexican business.

How do I get a golden visa for Mexico? ›

Permanent Residency: Minimum monthly income of $5,460 USD for the last 12 months. Personal Savings/Investments Route: Temporary Residency: Savings/investments totalling at least $54,600 USD over the last 12 months. Permanent Residency: Savings/investments totalling at least $218,000 USD over the last 12 months.

Do you have to pay taxes in Mexico as a temporary resident? ›

Most people on temporary residency visas and tourist visas are only liable to Mexican tax on their Mexican sourced income. This refers to income from work performed in Mexico, rental income from Mexican property, income from investment in Mexican companies etc.

How does a US citizen get temporary residency in Mexico? ›

After entering Mexico with this visa, you should go to the nearest Instituto Nacional de Migración (INM) (Immigration Office) to obtain your temporary residency card. Applicants must apply in person. Normally, the visa will be ready the same day, but this is not guaranteed.

How much bank balance is required for Mexico tourist visa? ›

Financial Solvency: You must choose options a) or b): Investment or bank accounts with a monthly ending balance of at least 300 days of the current general minimum wage in México City (approx. $4,394.11 USD).

How much does a Mexican residency visa cost? ›

Permanent Residence:

6,495.00 pesos (approx. $361 USD) plus a review fee if you are getting your Permanent Resident status after being in Mexico for 4 years as a Temporary Resident.

Can I buy property in Mexico with a temporary resident visa? ›

Having a Temporary Residence Visa not only allows you to live in Mexico for more than the 180 days given to tourists, but it also allows you to open a Mexican bank account, register a car and in some cases, even avoid paying capital gains tax on the future sale of your Mexican property.

What are the benefits of having temporary residency in Mexico? ›

Advantages of obtaining temporary residency in Mexico

First and foremost, temporary residency allows you to stay in Mexico for longer periods, avoiding the hassle of exiting and re-entering the country every six months.

Can I buy a house for 100k in Mexico? ›

The typical home value in Mexico as of February 2022 is USD128,009. You can expect this number to go up every year. You can find a house in the Pacific coast or down south in Mexico for $100,000 or more. For $100,000, you can get a small house or villa outside of popular coastal towns and outside of tourist hotspots.

What happens if I stay in Mexico more than 6 months? ›

Extensions and renewals. The visitor permit cannot be extended or renewed; and you must leave Mexico by the date it expires. If you over-stay your visitor visa you will need to pay a fine when you leave the country.

Can I buy beachfront property in Mexico? ›

As the foreigner, you retain the right to the beachfront property and are free to live on the property, rent it out, or sell it. In essence, the fideicomiso acts as a legal system that allows foreigners to own property while preserving the interests of the Mexican government and its people.

Can a U.S. citizen get permanent residency in Mexico? ›

You can apply for a Permanent Resident Card if you have lived in Mexico for at least 4 years with a Temporary Resident Card. You can also apply earlier if you lived in Mexico with a Temporary Resident Card (for at least 2 years) issued on the grounds of marriage to a Mexican citizen or permanent resident.

How can a U.S. citizen own property in Mexico? ›

Step by step of buying a house in Mexico as an American
  1. Step 1: Find the right property and agree a price with the seller. ...
  2. Step 2: Document the deal with a sales contract. ...
  3. Step 3: Pay your deposit. ...
  4. Step 4: Create your fideicomiso if required. ...
  5. Step 5: Get permission to complete the purchase.
Dec 16, 2021

What are the risks of buying real estate in Mexico? ›

What are the potential risks associated with owning a property in Mexico? There are several risks associated with owning a property in Mexico, including legal issues, damage to the property, and fluctuations in the real estate market. It's important to understand these risks and take steps to minimize them.

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