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Mexico Increasing Residency Income Requirements


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Hearing some rumbles about MX increasing savings requirements and monthly income requirements for temporal..etc. Apparently each Consulado or individual functionary has discretion to raise or lower the requirements.

Have been unable to independently verify any of this. 

Anyone have an ear to the wall?

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1 hour ago, David Rodwell said:

Hearing some rumbles about MX increasing savings requirements and monthly income requirements for temporal..etc. Apparently each Consulado or individual functionary has discretion to raise or lower the requirements.

Have been unable to independently verify any of this. 

Anyone have an ear to the wall?

I have certainly heard that, in the past, different Mexican Consulates in the US have had (slightly?) different 'financial' requirements leading to Temporal and/or Permanente. 

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2 hours ago, David Rodwell said:

Hearing some rumbles about MX increasing savings requirements and monthly income requirements for temporal..etc. Apparently each Consulado or individual functionary has discretion to raise or lower the requirements.

Have been unable to independently verify any of this. 

Anyone have an ear to the wall?

===

Temporary Residency: Monthly income of c.US$2,400-$2700 over the last 6 months (some consulates request 12 months); or savings balance of c.US$45,000 over the last 12 months.

Permanent Residency: Monthly income of c.US$4,300-$4500 over the last 6 months (some consulates request 12 months); or savings balance of c.US$180,000 over the last 12 months.

===

See https://www.mexperience.com/financial-criteria-for-residency-in-mexico/

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31 minutes ago, sm1mex said:

Many don’t have that.

Yes, but that sounds like a personal problem and not a Mexican government problem. 

Last time I heard the cost of moving/living in either Panama or Costa Rica was escalating. 

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The last time I looked at the Mexican Embassy website you could use monthly income or savings on deposit for the previous year or a combination of the two.  That is where it can become a gray area and much will depend on the individual doing the interview.  Numbers for a married couple vary as well.  But I would think that most folks considering moving to ANY other country should have savings and some retirement income to meet the criteria.  If not then you couldn't afford to retire in the US either.  Better just keep working.  We sold our house and came down on tourist visas several times long before SSI was available to us.  After a little over a year, the proceeds from the house sale more than made us eligible and we got Permanente visas on our last trip up as returning tourists.  Once we started getting SSI, we stopped living off savings, bought a house, and live quite comfortably on less than our social security.  We could never have done that anywhere in the states that we would have liked living in as retirees.

Alan

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7 hours ago, techy1 said:

===

Temporary Residency: Monthly income of c.US$2,400-$2700 over the last 6 months (some consulates request 12 months); or savings balance of c.US$45,000 over the last 12 months.

Permanent Residency: Monthly income of c.US$4,300-$4500 over the last 6 months (some consulates request 12 months); or savings balance of c.US$180,000 over the last 12 months.

===

See https://www.mexperience.com/financial-criteria-for-residency-in-mexico/

That basically means to get temporal or permanente one needs to earn more than vast vast majority of Mexicans…curious!

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7 hours ago, techy1 said:

===

Temporary Residency: Monthly income of c.US$2,400-$2700 over the last 6 months (some consulates request 12 months); or savings balance of c.US$45,000 over the last 12 months.

Permanent Residency: Monthly income of c.US$4,300-$4500 over the last 6 months (some consulates request 12 months); or savings balance of c.US$180,000 over the last 12 months.

===

See https://www.mexperience.com/financial-criteria-for-residency-in-mexico/

That sounds like a lot of money to lower your standard of living in Mexico--It seems to me  it would be better to move to a state in the US where living is cheaper--

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2 hours ago, HoneyBee said:

Just wade across the Rio Grande and claim refugee status. If pressed tell the Mexican border guards that you lived in Chicago and feared for your life....

I think you might be on to something--that was my first impression--to keep the north from flooding into Mexico --I immigrated to Mexico for more freedom and a lower cost of living on a retirement income--

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Another big change is the tourist visa, used to give everyone 180 days just for asking. Some YouTube videos are reporting that INM is asking for proof of hotel reservations and then granting the visa for only that number of days. I imagine many folks will then just take a chance and "lose" their visa or just overstay and accept whatever the consequences are if caught.

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20 hours ago, sm1mex said:

More Requirements less retired ex pats less revenue for Mx businesses. Makes sense???

Assuming (sorry if wrong) you're American. Do you have even the faintest idea how difficult it is for a person  (NOT including illegal immigrants) with education, stability,  some funds, etc. to move to the U.S.?  Check it out. DRACONIAN.

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