Good News
Financial Qualifying Requirements Reduced for Immigration Visas
October 10th, 2014
It certainly appears that the qualifying financial benefits are focused on the Temporary Residency Visas. The logic behind this escapes me (other than the higher immigration fees from Temporary vs Permanent) but we’ll work with what we have. After the four years on Temporary Visa, you can transition to the Permanent Visa with no further qualification.
Temporary Residency Visas
To qualify for your Temporary Residency Visa, there are two ways to qualify; showing a required monthly income for the past six months or showing required investments consistently for the past twelve months. Note: When the law first passed they talked about also qualifying by a points system but up to now they did not give any details. Apparently in this new announcement they will finally be releasing some guidelines on how this will work.
Monthly Income Requirement
Required monthly income from employment or pension has been reduced to the equivalent of three hundred days of the general minimum age in the Federal District for the past six months. With minimum wage at $67.29 pesos x 300 days = $20,187 pesos (equivalent to $1514 USD at current exchange).
So now you need to show approximately $1514 USD per month for a six month period(instead of the prior requirement of $2100 USD per month). This is good news indeed.
(Original y copia de los documentos que demuestren que cuenta con empleo o pensión con ingresos mensuales libres de gravámenes mayores al equivalente de trescientos días de salario mínimo general vigente en el Distrito Federal, durante los últimos seis meses.)
OR
Investment Income Requirement
But even better is the reduction in the required amount of investments or bank accounts with a monthly average balance equal to five thousand days of general minimum wage in the Federal District for the last twelve months. Again, with minimum wage at $67.29 x 5000 days = $336,450 pesos (equivalent to $25,296 USD at current exchange).
So now you can qualify for your Temporary Residency Visa if you have approximately $25,296 USD in your investment account (or bank account) for the last twelve months (instead of the prior requirement of about $102,000 USD for the past twelve months). This is definitely a deal changer for so many people who may not have qualified before. Thanks to the Mexican Government.
(Original y copia de comprobante de inversiones o cuentas bancarias con saldo promedio mensual equivalente a cinco mil días de salario mínimo general vigente en el Distrito Federal, durante los últimos doce meses.)
Permanent Residency Visas
To qualify for your Permanent Residency Visa, there are two ways to qualify; showing a required monthly income for the past twelve months or showing required investments consistently for the past twelve months. Note: When the law first passed they talked about also qualifying by a points system but as yet they did not give any details. Apparently in this new announcement they will finally be releasing some guidelines on how this will work.
Monthly Income Requirement
Required monthly income from employment or pension has not changed. You still need to show proof of investments or bank accounts with a monthly average equal to five hundred days of general minimum wage in the Federal District for the past six months. One improvement is you only need to show statements for a six month period instead of a twelve month period. So that helps quite a bit.
With minimum wage at $67.29 x 500 days = $33,645 pesos (equivalent to $2529 USD at current exchange), but again, only for six months now instead of twelve.
OR
Investment Income Requirement
Required amount of investments or bank accounts with a monthly average balance equal to twenty thousand days of general minimum wage in the Federal District for the last twelve months. Again, with minimum wage at $67.29 x 20,000 days = $1,345,800 pesos (equivalent to $101,187 USD at current exchange).
So now you can qualify for your Permanent Residency Visa if you have approximately $101,187 USD in your investment account (or bank account) for the last twelve months(instead of the prior requirement of about $127,000 USD for the past twelve months). This is a also bit of an improvement; every bit counts.
(Presentar los documentos que acrediten alguno de los siguientes supuestos:
a. Jubilados o pensionados:
1. Original y copia de comprobante de inversiones o cuentas bancarias con saldo promedio mensual equivalente a veinte mil días de salario mínimo general vigente en el Distrito Federal, durante los últimos doce meses
2. Original y copia de los documentos que demuestren que cuenta con pensión con ingresos mensuales libres de gravámenes mayores al equivalente de quinientos días de salario mínimo general vigente en el Distrito Federal, durante los últimos seis meses.)
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