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soarer

Nov 21, 2015, 12:55 AM

Post #1 of 13 (11868 views)

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Residente permanente requirements and process questions

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Hi all

First post here, so let me introduce myself briefly ... I'm a 43 year old guy, planning to retire early in approx. 1-2 years from now. I have researched and visited various countries, and as it looks right now, Mexico is most probably the "winner". However, I'm still not clear on how easy or hard it will be for me to get a residente permanente. The more I read about it, the more conflicting (and probably outdated) information I find.

So here are my questions:

Let's say I buy a property in Mexico for approx. 200K USD. Some of the information I read says that this "investment" in itself would already suffice to qualify for residente permanente. Other websites say that investments in real estate don't matter at all, and that you have to prove a bank account balance of roughly 120K USD over the last 12 months. And then there are others that say it's a combination of both. Also, am I assuming correctly that the money could be split over several bank accounts?

Could somebody please clarify what the current requirements are?

Also, if I apply for and get a residente permanente, are there any requirements to actually stay in Mexico for a certain amount of time each year or something like that? The reason I'm asking is because I'm considering to get a residente now (1-2 years before the actual move), simply to avoid any bad surprises like immigration law changes that might make it harder or even impossible to get the residente later down the road.

Thanks very much.



playaboy

Nov 21, 2015, 4:55 AM

Post #2 of 13 (11854 views)

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Re: [soarer] Residente permanente requirements and process questions

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Hola, welcome. You are thinking correctly and asking the right questions. There are others that keep up with this better than I do. I am sure Yucalandia will be here any minute with all the details

I retired early and came to Mexico. I am curious what area you are considering retiring to and why?


YucaLandia


Nov 21, 2015, 8:16 AM

Post #3 of 13 (11822 views)

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Re: [soarer] Residente permanente requirements and process questions

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Hi all

...
~ you have to prove a bank account balance of roughly 120K USD over the last 12 months. And then there are others that say it's a combination of both. Also,

~ am I assuming correctly that the money could be split over several bank accounts?

~ Could somebody please clarify what the current requirements are?

Also,
~ if I apply for and get a residente permanente, are there any requirements to actually stay in Mexico for a certain amount of time each year or something like that?


The reason I'm asking is because I'm considering to get a residente now (1-2 years before the actual move), simply to avoid any bad surprises like immigration law changes that might make it harder or even impossible to get the residente later down the road.

Thanks very much.


Hey soarer,
There are answers and more details on all your questions at: ~ Current Rules and Procedures for Immigration, Visiting, and Staying in Mexico


Q1. ~ you have to prove a bank account balance of roughly 120K USD over the last 12 months. And then there are others that say it's a combination of both.

A1. Financial Independence (Savings or Income) Requirements for Permanent Residency / Residente Permanente Applicants ... :Average Monthly Balance of about $83,950 USD (exactly $1,402,000 pesos) ... at $16.75:1 MXN:USD for Residente Permanente … per 10/10/14 DOF Lineamientos for Mexican Consulates.



Q2. ~ am I assuming correctly that the money could be split over several bank accounts?
A2. Correct ... as long as the accounts are in your (the applicant's) name.

e.g. If you are a husband-wife team applying, the Consulates do not allow us to use the same account as credit towards meeting the "personal fiscal solvency" requirements for both applicants. If you have a husband/wife application, consider reading about the "Vinculo Familiar" route.


Q3. ~ Could somebody please clarify what the current requirements are? (including Mexican real estate holdings?)
A3. ~ The current requirements are listed at: Financial Independence (Savings or Income) Requirements for Permanent Residency / Residente Permanente Applicants

Note that Mexican Consulates have the right ~ to INCLUDE ~ or to EXCLUDE ~ owning Mexican real estate in their determination if you qualify. Some Consulates include property ... (most) others do not ...

Note that some Mexican Consulates require that the applicant be retired, and that the "monthly income deposits" used to qualify must ONLY come from retirement pensions for Residente Permanente applicants ... while other Consulates accept any regular "monthly deposits" for RP applicants.

" Boston, Tucson, San Francisco, San Diego Consulates (and now San Antonio - May 2014) have been sticklers for ONLY retirement income or savings. Laredo, Chicago, Phoenix, Dallas, Portland OR, and Chicago have been more flexible in allowing just savings, and/or any monthly income. "


Q4. ~ if I apply for and get a residente permanente, are there any requirements to actually stay in Mexico for a certain amount of time each year or something like that?

A4. Residente Permanentes can spend as much time, or as little time as they like in or out of Mexico.


Happy Trails,
steve
-
Read-on MacDuff
E-visit at http://yucalandia.com

(This post was edited by YucaLandia on Nov 21, 2015, 10:18 AM)


soarer

Nov 21, 2015, 8:36 AM

Post #4 of 13 (11817 views)

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Re: [YucaLandia] Residente permanente requirements and process questions

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Hi YucaLandia. Perfect. Thank you very much for clearing that up.


Maesonna

Nov 22, 2015, 3:22 PM

Post #5 of 13 (11737 views)

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Re: [soarer] Residente permanente requirements and process questions

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There are two paths to permanent residency [for a person not sponsored by a Mexican spouse or family member – that’s not your case; I’m just mentioning it for completeness].

You can meet a higher (25% higher) financial requirement and immigrate directly as a permanent resident, or you can meet a slightly lower financial requirement and be a ‘residente temporal’ for 4 years, then transition to permanente without having to meet additional financial requirements.

Some approximate figures were mentioned above. Here are the exact figures given on Mexican government web pages. The equivalent in dollars will vary according to the exchange at the time. Also, these amounts are indexed to the Mexican official minimum wage, so the requirements could change if the official minimum wage is reset.

For residente temporal you need to prove a bank balance showing savings equivalent to at least 1,402,000 pesos during the last twelve months or monthly income equivalent at least 28,040 pesos per month for the last 6 months. (Some people have reported being asked for a full year of monthly income.)
To immigrate to Mexico as a residente permanente directly (as opposed to transitioning after 4 years of temporal), the financial requirements are 25% higher; namely 1,752,500 pesos savings for 12 months or 35050 pesos income for six months.


YucaLandia


Nov 22, 2015, 4:24 PM

Post #6 of 13 (11731 views)

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Re: [Maesonna] Residente permanente requirements and process questions

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There are two paths to permanent residency [for a person not sponsored by a Mexican spouse or family member – that’s not your case; I’m just mentioning it for completeness]. ...

To immigrate to Mexico as a residente permanente directly (as opposed to transitioning after 4 years of temporal), the financial requirements are 25% higher; namely 1,752,500 pesos savings for 12 months or 35050 pesos income for six months.


I think the advice and amounts listed by Maesonna are reversed for the "personal fiscal solvency requirements" for Mexican Consulate's published requirements (making your Residente Permanente application abroad) versus the INM's published requirements.

The 2014 SRE law (for applying at a Consulate) lists 25% lower fiscal solvency requirements than the 2012 INM law.

This means that RP applications at Consulates are both cheaper and have 25% lower requirements, than if a person applies for RT first (at a Consulate/, and then later applies at INM inside Mexico for changing status from RT to RP, because the INM personal solvency requirements are higher (more difficult to meet) than making the application at a Mex. Consulate.




~ Financial Independence (Savings or Income) Requirements for Permanent Residency / Residente Permanente Applicants

~
Financial Independence (Savings or Income) Requirements for Temporary Residency / Residente Temporal Applicants

This means that the MXN peso amounts I reported above for ¨soarer¨s planned application at a Mexican Consulate are the ones that come from the applicable 2014 SRE law - because soarer plans to use the easier route of making his RP application at a Consulate.

Also note that the MXN peso amounts listed above are exact, (not approximations) and they are based on the current official Mex. Gob. minimum wage and on SRE law.

Happy Trails,
steve
-
Read-on MacDuff
E-visit at http://yucalandia.com

(This post was edited by YucaLandia on Nov 22, 2015, 4:28 PM)


soarer

Jan 22, 2016, 8:49 AM

Post #7 of 13 (10155 views)

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Re: [YucaLandia] Residente permanente requirements and process questions

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Sorry, have to dig this old thread up again.

Did some further research on some consulate websites and was very surprised to find very different application requirements depending on where the consulate is located. Regarding economic solvency, the site for the Washington consulate mentions

a) Original and copy of proof of investments or bank accounts with a balance of at least $104,000.00 US Dollars during the previous 12 months. OR

b) Original and copy of documents showing that the applicant has a job or pension that yields a monthly income of $2,588.00 US Dollars after taxes during the previous 6 months.

The website for the embassy in Switzerland (which would be the one relevant to me) says:

5) Pension payment slips from the past 6 months

6) Detailed monthly bank statements (with debits and credits) from the past 12 months

While I would fulfill the requirements listed on the Washington page, I would not be able to meet the ones mentioned on the Swiss website.

Does anyone here know whether those requirements really vary by country? Yes I know, I probably could / should contact the embassy directly. Just would like to get an idea what to expect first.

Thanks


rvgringo

Jan 22, 2016, 9:01 AM

Post #8 of 13 (10151 views)

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Re: [soarer] Residente permanente requirements and process questions

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It is quite common for Mexican websites, advertising or other public information to be out of date. The agents or employees you encounter may, or may not, follow the outdated information, or may actually have the new information on hand and abide by it.
Welcome to life in and about Mexico. Remember that the consulates come under SRE (Secretaria de Relaciones Extranjeros) and are not either customs or immigration (Aduana or INM). They simply pre-approve you and then you finish the process with INM in Mexico. It is obvious that some consulates are very good at being informed and helpful, while some others may be just the opposite.


soarer

Jan 22, 2016, 9:12 AM

Post #9 of 13 (10148 views)

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Re: [rvgringo] Residente permanente requirements and process questions

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Thanks for your response.

Yes I'm familiar with those kind of things in other countries and I usually don't have a problem dealing with it. However, let's just assume that the embassy in Switzerland is in fact not familiar with the current rules and regulations (which may well be the case, I'm sure there are not many people from here moving to Mexico), is that it for me or are there any actions I can take (for example through a lawyer ...).

I mean, it looks like there's no way for me to go around them. As far as I know, you have to start the process at the local consulate / embassy, and in Switzerland we only have the one ...


rvgringo

Jan 22, 2016, 9:29 AM

Post #10 of 13 (10140 views)

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Re: [soarer] Residente permanente requirements and process questions

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Get the current requirements online, from other website‘s current quotes and links to government sites. Print the pertinent references, make notes, and take them with you. Smile a lot, ask for help in explaining your understanding of those references, etc.,, etc. They will probably help you & may already know the current requirements, but just have not yet updated their website. No need for lawyers at this stage.


YucaLandia


Jan 22, 2016, 12:28 PM

Post #11 of 13 (10118 views)

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Re: [soarer] Residente permanente requirements and process questions

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In Reply To
Sorry, have to dig this old thread up again.

Did some further research on some consulate websites and was very surprised to find very different application requirements depending on where the consulate is located. Regarding economic solvency, the site for the Washington consulate mentions

a) Original and copy of proof of investments or bank accounts with a balance of at least $104,000.00 US Dollars during the previous 12 months. OR

b) Original and copy of documents showing that the applicant has a job or pension that yields a monthly income of $2,588.00 US Dollars after taxes during the previous 6 months.

The website for the embassy in Switzerland (which would be the one relevant to me) says:

5) Pension payment slips from the past 6 months

6) Detailed monthly bank statements (with debits and credits) from the past 12 months

While I would fulfill the requirements listed on the Washington page, I would not be able to meet the ones mentioned on the Swiss website.

Does anyone here know whether those requirements really vary by country? Yes I know, I probably could / should contact the embassy directly. Just would like to get an idea what to expect first.

Thanks


The requirements you've listed are out-of-date by 18 months, since the Mex. DOF published the "new" rules & requirements for Consulates in the fall of 2014.

Here are links to the current legal requirements for Mexican Consulates:
Financial Independence (Savings or Income) Requirements for Temporary Residency / Residente Temporal Applicants

~ Financial Independence (Savings or Income) Requirements for Permanent Residency / Residente Permanente Applicants


Requirements do vary some from Consulate to Consulate, as some Consulates require only PENSION income for ONLY retired people ... while most do not make this stipulation.

Happy Trails,
steve
-
Read-on MacDuff
E-visit at http://yucalandia.com


soarer

Jan 22, 2016, 8:47 PM

Post #12 of 13 (10070 views)

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Re: [YucaLandia] Residente permanente requirements and process questions

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Requirements do vary some from Consulate to Consulate, as some Consulates require only PENSION income for ONLY retired people ... while most do not make this stipulation.


This is exactly what I'm worried about. And while in the US you probably simply go to another consulate, I do not have this option.


TedZar

Jan 23, 2016, 2:44 PM

Post #13 of 13 (9997 views)

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Re: [soarer] Residente permanente requirements and process questions

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You might find foreign embassies more flexible and easy to deal with. I did. I applied in Thailand about three years ago and and felt they were super cooperative and helpful. The accepted monthly income versus "retirement" income and were very helpful all the way through the process. You might try a personal visit to the embassy and ask a few questions, or even email them (email worked for me) to establish a relationship before starting the process.
 
 
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