Mexico Residency Requirements 2020: A Comprehensive Guide

Embarking on the journey to obtain a residency permit in Mexico is an exciting step for many. Whether you’re looking to retire, invest, or simply enjoy the beautiful Mexican lifestyle, understanding the residency requirements is crucial. This article will provide a comprehensive guide to the Mexico residency requirements in 2020, ensuring you have all the necessary information to make your dream a reality.

Types of Residency in Mexico

Mexico offers several types of residency permits, each with its own set of requirements. The most common types include:

• Temporary Resident: This is the most common type of residency and is suitable for those who plan to stay in Mexico for a specific period of time, typically up to 4 years.

• Permanent Resident: This type of residency is available to those who have lived in Mexico for a continuous period of 5 years or more, or for those who have made a significant investment in the country.

• Residency for Investment: This permit is available to those who invest a minimum of $250,000 USD in real estate or other qualifying assets in Mexico.

• Residency for Retirement: Mexico offers a special retirement visa for those over the age of 65, which requires a monthly income of at least $1,200 USD.

General Requirements for Residency

Regardless of the type of residency you are applying for, there are several general requirements you must meet:

• Valid Passport: Your passport must be valid for at least 6 months beyond the expiration date of your residency permit.

• Proof of Income: You must demonstrate that you have sufficient financial resources to support yourself and any dependents during your stay in Mexico.

• Health Insurance: You must provide proof of health insurance that covers medical expenses in Mexico.

• Address in Mexico: You must have a legal address in Mexico, which can be your own residence or a rented property.

Documentation Needed

When applying for residency in Mexico, you will need to provide various documents. These include:

• Passport: As mentioned earlier, your passport must be valid for at least 6 months beyond the expiration date of your residency permit.

• Proof of Income: This can be in the form of bank statements, employment letters, or other official documents showing your income.

• Health Insurance: You must provide proof of health insurance that covers medical expenses in Mexico.

• Address in Mexico: A lease agreement or purchase contract for your Mexican residence.

• Photographs: Two recent color photographs of yourself.

Application Process

The application process for residency in Mexico can be quite lengthy and complex. Here’s a general outline of the steps involved:

• Choose the Type of Residency: Determine which type of residency is best suited for your needs.

• Prepare the Required Documentation: Gather all the necessary documents as outlined above.

• Submit the Application: Visit the nearest Mexican consulate or embassy in your country to submit your application.

• Wait for Approval: The processing time for residency applications can vary, so be patient.

• Obtain Your Residency Permit: Once your application is approved, you will receive your residency permit, which you must renew every 4 years.

Conclusion

Obtaining residency in Mexico can be a rewarding experience. By understanding the residency requirements and following the application process, you can make your dream of living in Mexico a reality. Always consult with a legal professional or immigration expert to ensure you meet all the necessary requirements and follow the correct procedures.