Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Mexico residency financial requirement as of December 1, 2017
#1
New update on income requirements for Temporary Residency and Permanent Residency will become effective December 1, 2017, when the minimum wage goes up to 88.36 pesos per day in Mexico. Many things in Mexico are pegged to the minimum wage.

Here are some updated basic financial solvency numbers that go into effect December 1, 2017 with respect to new residency applications, when the minimum wage increases:

For applying for temporary residency in Mexico, the law stipulates that one must show a monthly income from foreign sources (pensions, investments, social security, etc.) equal to at least 300 days’ worth of the minimum wage or have a savings balance equivalent to at least 5,000 days’ worth of minimum wage over the past 12 months. Prior to the minimum wage increase, this equated to 24,012 pesos (approximately US$1,265) and 400,200 pesos (approximately US$21,060) respectively. As of December 1st, the new thresholds will be 26,508 pesos (approximately US$1,395 at a 19:1 exchange rate) and 441,800 pesos (approximately US$23,250) respectively.

For those intending to apply for permanent residency, one needs to show a monthly income of at least 500 days’ worth of minimum wage or have savings equivalent to at least 20,000 days’ worth of minimum wage over the past 12 months. In this case, this equated to 40,020 pesos (approximately US$2,100) and 1,600,800 pesos (approximately US$84,250) respectively, prior to the minimum wage increase. As of December 1st, these new thresholds will be 44,180 pesos (approximately US$2,325) and 1,767,200 pesos (approximately US$93,000) respectively.
Más vale pocos pelos, pero bien peinados.
Reply


Bookmarks

Forum Jump:


Users browsing this thread: 1 Guest(s)

 USA Dollar to  MX Peso Converter