Last year, I published a video with Sergei on a special Mexican government program that allows anyone who set foot in Mexico between 2015 and 2020 to apply for a 4-year temporary residency, which can then easily be turned into permanent residency later on with minimal time on the ground (if the rules don’t change). This program has been extended into 2024 and now covers people who set foot in Mexico in 2022.
If you don’t qualify for this, you can apply for the residency in Mexico the normal way.
Still a great option
There was a time when getting residency in Mexico was really easy for most people. Demonstrating any monthly income of at least $2,000 was enough. Over the past 3-4 years this amount has more than doubled to $4,400 per month of income to demonstrate.
Why?
Mexico’s economy is doing well and a ton of Westerners are moving there from North America and Europe.
The “normal way” to get residency in Mexico is also very doable.
There are multiple ways to get residency in Mexico, there aren’t any minimum physical presence requirements to be able to renew, and temporary residency can be turned into permanent residency after 4 years.
Residency in Mexico is also a great plan B as it requires minimal time on the ground to maintain.
Luckily, for those who don’t meet this threshold there are other ways to obtain residency in Mexico which we discuss in this video with Sergei, my immigration agent there.
Who is Mexican residency right for?
I see this as a good opportunity for those who want to work towards citizenship. Essentially, one can apply for citizenship after having been a resident for 5 years in Mexico prior to applying for citizenship.
In a world of rising uncertainty, Mexico is a no-brainer Plan B residency that is easy to obtain, and that is also extremely pleasant to spend time in. It’s a regional powerhouse of 130 million people with a diversified economy, great airline connections, amazing beaches, friendly people, sunshine, and decent food.
I’m happy to have obtained residency here in Mexico for myself and my whole family.
You can get in touch with Sergei and get more information on how to obtain residency in Mexico.
Information overload?
A key reason why clients come to me is that they spend too many hours/days/weeks/months online looking at various options, and then suffer from information overload and contradictory articles which result in more confusion than to start with.
In my consulting calls, I provide you with clarity in terms of the strategy to adopt, as well as actual on-the-ground information in terms of what really works, and what doesn’t.
To a World of Opportunities,
The Wandering Investor
Available services in Mexico:
Articles on Mexico:
- Making a Real Estate investment in Playa del Carmen – decent diversification in Mexico
- Full Analysis of the Tulum Real Estate Investment Boom
- 6 reasons against a Real Estate Investment in Cancun
- Investing in Multifamily Housing in Playa del Carmen
- Full Guide to Making a Real Estate Investment in Puerto Vallarta
- Puerto Vallarta Investment Case Study with Numbers
- What is a Lock Off Condo & Crazy Architecture in Tulum, Mexico
- Is a house in Puerto Vallarta a good investment? Case study with capitalization rates
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If you want to discuss your internationalization and diversification plans, book a consulting session or send me an email.
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