A Mexican Visa just became easier

Important Notice
New Immigration Law in Mexico

That was then and this is now. In 2012 the new laws changed the financial requirements substantially and also disallowed applying for a Visa in Mexico. The old income requirements for a Temporary yearly Visa jumped from around $1300US a month to almost $2000US.  Many lower income retirees were suddenly left out unless they doctored their books somehow.

Suddenly as of today the income required for a Temporary (Temporal) Visa was reduced to around $1500US and the overall assets dropped from $100k to $25k.  You still have to apply at a Consulate in your home country but the financial burden has been greatly reduced. Here are the new requirements posted by a Chapala lawyer.

HUGE Changes today (10 Oct 2014) to Mexican immigration law

These changes apply to visas issued at Mexican consulates outside Mexico.  I am assuming that there will be a publication soon applicable to people renewing within Mexico to harmonize the new lower financial requirements.

Reduced income requirements for temporary residence, new income / asset requirements:

Balances in bank 5,000 days minimum wage (67.29 pesos) $336,450 pesos or $25,164US, down from old minimum of 20,000 days minimum wage or $1,345,800 pesos or $100,658US at todays exchange rate.

Monthly income 300 days minimum wage (67.29 pesos) $20,187 pesos or $1,510US down from old minimum of 400 days or $26,916 pesos or $2,013US

Whatever the reasoning behind the Mexican Government's change of mine on what you should have to move/retire here I'll give it a Hi-Five.  Remember that Mexico is not dirt cheap any more so even with $1500 a month you'll have to keep that belt tight.

Retirees forced out of Mexico

Well it certainly seems that  way with the new immigration rules published this morning.   I know tons of people who either own a home or rely on cheap rent so do well with the old income requirements of $12-1300us a month.   To raise that limit almost $800 is going to be a problem for many.  It gets especially spooky when people who have lived here for 10+ years as home owners talk about being forced to sell and leave because their house is not worth $195K and they have a modest income.   Then we have all the people, mainly on the coast, who own Ejido land and don't have title so value of the house is irrelevant ... it's not really theirs.  I'm in the twilight zone as far as income but adjusting it now would not give me the 6 months required in January.   Do we need to look for another place to live?

TEMPORARY RESIDENTS

• Original and copy of proof of investments or bank accounts with an average worth over the previous year equivalent to $95,000.00 USD;
• Original and copy of documents that prove that the foreigner has had for the previous six months an income from a job (outside of Mexico) or a pension that pays at least $1,950.00 USD per month;
• Proof of a any familiar bond with another Temporary or Permanent Resident or a marital (or equivalent) bond with a Mexican;
• Original and copy of a notarized public deed showing ownership (or trust rights) to a property in Mexico worth at least $195,000.00 USD; 
• Proof of participation of at least $100,000.00 USD in a Mexican company;
• Proof of ownership in heavy equipment or machinery in Mexico worth more than $100,000.00 USD; OR
• Proof of doing business in Mexico and legally creating at least 5 jobs for Mexicans.

PERMANENT RESIDENT

• Original and copy of proof of investments or bank accounts with an average worth over the previous year equivalent to $95,000.00 USD;
• Original and copy of documents that prove that the foreigner has had for the previous six months an income from a job (outside of Mexico) or a pension that pays at least $2,400.00 USD per month;
• Proof of parent-child bond with a Mexican citizen by birth (this would be birth certificates of everyone involved, plus any other documents proving the citizenship of the Mexican citizen);
• Proof of the same parent-child bond with another Permanent Resident; OR
• Proof that you have enough points (based on a points system that still hasn’t been published).