Real Estate & Legal Topics

Residency for Seniors

Can retirees or pensioned expatriates get a Permanent Resident Visa if they did not have a visa before?

The Permanent Resident Visa can be issued to a foreigner who intends to enter Mexico to reside indefinitely.

Foreigners who are granted Permanent Resident status will have the right to enter and leave the country as many times as desired. They will also be able to bring their personal property into Mexico in the manner and terms that apply under the applicable law.

The procedure has to be started at a Mexican Consulate outside of Mexico and finished at an Immigration office in Mexico.

Who can apply?

Pensioned or retired expatriates who can prove sufficient monthly income or savings to cover their living expenses during their stay in Mexico.

Financial requirements (the sums of money vary slightly according to each consulate). You will need to provide one of the following:

  • Proof of financial stability via account statements from investments, savings or checking accounts from the preceding 12 months. You are required to prove an average monthly balance of a minimum $128,000.00 USD.
  • If you receive a pension, provide proof that you have received it for the last 12 months via pay stubs, or bank statements showing a minimum of $2600.00 USD per month.
  • Original Deed showing ownership of real estate properties in Mexico valued at more than $200,000.00 USD.

For a married or common-law couple, each must show the qualifying amounts of income, investments, etc. In the case where only one person qualifies, for example, a husband qualifies, and the wife does not, she may enter as a tourist, and once her husband has his visa she can start with the procedure in Mexico. She will not need to leave Mexico. If one person in the couple is a Permanent Resident, the spouse will need to become a Temporary Resident for two years before becoming a Permanent Resident. There is still the need to apostille or legalize the marriage certificate and to have it translated for most IMM offices.

To ensure a speedy and trouble free process, it is recommended to use a professional Mexican law firm, such as Mexlaw, throughout your application.

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