Mexico: temporary and permanent residence on financial solvency

Mexico runs one of the most accessible residence systems in the Americas, and it is straightforward in a way that surprises people used to European processes.

The routes

• Temporary residence on economic solvency — evidenced monthly income over recent months, or an average bank balance over a longer period, at levels that scale with dependants. Granted initially for a year and renewable for up to four in total.
• Permanent residence after four years of temporary residence, or directly on higher financial thresholds, or immediately for retirees meeting the income test in some consular practice.
• Family routes through a Mexican spouse or children, which shorten everything considerably.
• Work, employer-sponsored.

Applications begin at a consulate outside Mexico, and the financial thresholds are set by each consulate against a national reference figure, which is why applicants compare consulates.

Property

Foreigners may own property directly across most of the country. Within the restricted zone — a band along the coasts and borders — residential property is held through a bank trust, a fideicomiso, which gives the beneficiary the rights of ownership including sale and inheritance for a renewable term. It is a well-established mechanism rather than a workaround, and it carries an annual trustee fee.

Citizenship

Naturalisation is available after a qualifying period of legal residence, shorter for those married to Mexicans or with Mexican children, with a language and history examination. Mexico permits dual citizenship. The passport carries broad visa-free access.

What to be careful about

• The document market. Mexico has a documented history of fraudulent residence and naturalisation documents sold as genuine. Any process that does not run through a consulate or the national immigration institute directly, with your own appearance and biometrics, is not a process.
• Tax residence follows presence. Mexico taxes residents on worldwide income, and establishing a home there can make you resident regardless of your intentions.
• The renewal clock. Temporary residence must be renewed on time; lapsing it restarts the four-year count towards permanence.