Everything You Need to Know About Mexican Residency by Economic Solvency
Have you ever been to a beautiful country and wondered: How can I live here? Should I move here? If during your last trip to Mexico that was all you could think about, then keep reading.
If you’re looking to make Mexico your home without relying on employment within the country, the economic solvency pathway offers a straightforward route to temporary residency. Demonstrating proof of sufficient income or savings allows you to live in Mexico while enjoying the vibrant culture, affordable cost of living, and welcoming climate.
En Doble Nacionalidad Express, we simplify this process, guiding you through each requirement and step, from gathering the necessary documents to completing your consulate appointment. With our expertise, securing residency in Mexico is smoother and more efficient.
Requirements for Economic Solvency Residency in Mexico
People interested in Mexican residency through economic solvency must demonstrate financial independence. Here’s how:
Proof of Financial Independence
To qualify, you must show you can support yourself without needing employment in Mexico. Proof can be shown in one of two ways:
Savings or Investment Account Balance:
You need a minimum monthly balance of at least $73,215.00 USD for the past twelve months.
Required Documentation: Bank statements should include your full name and address (no P.O. Boxes) and be stamped officially by the bank.
Regular Income:
Alternatively, you can demonstrate a steady income, showing documentation of at least $4,393.00 USD per month over the past six months.
For Income from Employment:
If using employment income, you must also provide:
A signed letter from a supervisor on company letterhead addressed to the Consulate General. The letter must confirm:
- Your full name, job position, and length of employment.
- Monthly salary.
- The company’s approval of your plans to reside in Mexico and work remotely.
- A photocopy of your supervisor’s ID with a matching signature.
Valid Passport
Your passport must be valid for at least six months from the application date, a vital document for completing the residency process.
Additional Financial Documents
Additional documents may include bank statements, investment account statements, or pension receipts from the required timeframe, along with any income-related letters or certifications.
Application Process for Economic Solvency Residency
With Doble Nacionalidad Express by your side, the application process is simple and stress-free. Here’s how we assist:
- Scheduling and Attending Your Consulate Appointment
Our team will schedule an appointment at the nearest Mexican consulate and provide guidance on preparing for the interview, where you’ll discuss your financial situation and reasons for moving to Mexico. - Receiving Your Temporary Resident Visa
If your application is successful, the consulate will issue a temporary resident visa, an essential step for entering Mexico and finalizing your residency. - Exchanging Your Visa for a Residency Card
Within 30 days of arriving in Mexico, we assist you in exchanging your temporary visa for a residency card at the Instituto Nacional de Migración (INM). This final step marks your official transition to temporary residency.
Why Economic Solvency Residency Could Be Right for You
This residency pathway is ideal for retirees, remote workers, and anyone financially self-sufficient who wants to enjoy life in Mexico without requiring local employment. With Mexican residency, you’ll gain benefits like access to healthcare, banking, and the ability to stay in Mexico long-term. Plus, temporary residency allows for easy renewal and can even lead to permanent residency over time.
En Doble Nacionalidad Express, we’re here to make the process as smooth as possible, helping you navigate each requirement and handle the paperwork so you can focus on enjoying your new life in Mexico. Get started today, and let us guide you through this exciting journey.
