Are you considering moving to Mexico or spending extended time there? Whether you're a digital nomad, retiree, or just planning a new chapter in a warmer climate, opening a bank account and obtaining legal residency in Mexico are key steps.
In this guide, we’ll walk you through the requirements to open a bank account as a foreigner, plus the main residency options available in 2025.
How to Open a Bank Account in Mexico as a Foreigner
Foreigners can open bank accounts in Mexico, but you’ll need the right documents and residency status. Most banks allow temporary and permanent residents to open accounts, while options are more limited for tourists.
Basic Requirements:
1. Valid Passport
Must be current and in good condition.
2. Temporary or Permanent Resident Card
Required by most banks (some may allow accounts for tourists with restrictions).
3. Proof of Address in Mexico
A recent utility bill (CFE electricity bill, water, phone, etc.) in your name or a rental agreement.
4. CURP (Clave Ăšnica de Registro de PoblaciĂłn)
Issued when you obtain a resident card; used for official identification.
5. RFC (Mexican Tax ID)
Some banks require this. You can apply once you have residency.
6. Proof of Income or Employment (varies by bank)
Bank statements, pay stubs, or a letter from your employer may be requested.
7. Initial Deposit
Usually between MXN 200 – 1,000, depending on the account type.
Top Banks in Mexico for Foreign Applicants:
- BBVA MĂ©xico
- Citibanamex
- Santander MĂ©xico
- Banorte
- HSBC MĂ©xico
- Scotiabank MĂ©xico
Most major cities and tourist areas have English-speaking staff at select branches.
How to Get Residency in Mexico, 2025 Options.
En Doble Nacionalidad Express (DNEXPRESS), we make the residency process in Mexico simple, stress-free, and reliable. Whether you’re a retiree, remote worker, or planning to reunite with family, our team handles every step of the process so you can focus on starting your new chapter in Mexico.
1. Temporary Residency (Residente Temporal)
Perfect if you want to stay longer than 180 days but not more than 4 years.
Who we help qualify:
- Retirees looking to enjoy life in Mexico
- Remote workers and digital nomads seeking flexibility
- Professionals with a Mexican job offer
- Family members of residents or citizens
Other qualifying paths include owning a business, property, or having family connections in Mexico.
With DNEXPRESS, we review your case in detail and prepare all the necessary paperwork so you don’t face unexpected delays.
2. Permanent Residency (Residente Permanente)
Best if you plan to settle in Mexico indefinitely.
Who qualifies:
- Retirees with higher passive income
- Parents of Mexican citizens
- Spouses (after 2 years of Temporary Residency)
- Temporary Residents with 4+ years in Mexico
Permanent Residency requires no renewals and allows you to work without a special permit. At DNEXPRESS, we ensure your documents meet consular standards so your application is accepted the first time.
How DNEXPRESS Handles the Process
- Consulate Appointment: We help you schedule, prepare, and submit documents correctly.
- Visa Approval: Once approved, you’ll receive a residency visa sticker in your passport.
- Resident Card Exchange: We guide you through the final step at Mexico’s INM office within 30 days of arrival.
Residency Through Family Ties
Did you know you may qualify without meeting financial requirements?Â
If you’re:
- Married to a Mexican citizen or resident
- Parent of a Mexican child
- Child of a Mexican citizen or permanent resident
You may gain residency faster, often leading directly to Permanent Residency. DNEXPRESS specializes in these family-based cases, ensuring your documents are fully compliant with Mexican law.
Mexico continues to attract people from all over the world thanks to its cost of living, climate, and vibrant culture. Whether you’re moving permanently, retiring, or just planning a long stay, knowing how to legally reside and manage your finances in Mexico is crucial.
With the right documents and some preparation, both opening a bank account y obtaining residency can be straightforward, and even enjoyable.
If you're planning your move to Mexico and need assistance understanding specific consulate requirements, legal steps, or financial calculations, feel free to ask more about our services or book a free consultation over the phone!
