The resident visa based on economic ability remains one of the main tools for obtaining residency in Mexico. Over the past few years, the criteria for the amount of money that you need to have to obtain this visa have doubled and are increasing every year. Those who have enough money may not always be able to document their income or savings.
Here we present some simple criteria that will help you evaluate whether you will be granted a Mexican resident visa based on economic ability. If you do not pass at least one point or proposal, do not count on purchasing a visa (although there are exceptions).
1. Required amounts
- Income — at least 4100 USD per month for each of the last 6 months, OR
- Accumulations — bank account balance of at least 70,000 USD for each of the last 12 months.
All indicators are required: amount, period, «each», «last».
It is allowed to sum:
- income from several sources,
- several bank accounts.
These are the criteria for 2025. The dollar amounts shown are estimates based on the current exchange rate of the Mexican peso. We strongly advise having 5% more.
2. Required documentation
By income
- Are you an employee:
- monthly salary certificate from the employer for the last 6 months,
- income statement,
- bank account statement showing accrued salary receipts for the period.
- You are the owner of a company or receive a pension or dividends:
- a certificate from the source of income about the payment of your pension or dividends for the last 6 months on a monthly basis,
- income declaration (pensioners do not need it),
- bank account statement showing accrued amounts received for the period.
- You are an individual entrepreneur:
- individual entrepreneur registration certificate,
- tax return for the last 6 months (preferably 12),
- bank account statement with income from individual entrepreneurs for the period.
By savings
- A bank account statement that clearly shows the balance at the end of each of the last 12 months.
The documents must be:
- properly executed and certified (not from the Internet),
- translated into Spanish or English without certified translation.
Bank statement:
- must have a wet bank seal,
- It’s better to write it in English right away.
3. Choosing a consulate
Select consulate:
- in the country of citizenship or residence, OR
- in the country where the income was acquired (according to the tax return), OR
- in the country where your bank account is (if based on savings).
If the documentation was issued in one country and you are submitting to the Mexican consular office in another country, the documents must be:
- translated into Spanish or English,
- translation is notarized,
- The notary's signature is apostilled.
If you are submitting papers to Mexican consulates in other countries (not citizenship, not income):
- documentation may not be accepted,
- has the right to refuse a visa.
Exceptions are possible, for example:
- citizenship of the Russian Federation,
- income in Georgia (there is no Mexican consulate in Georgia),
- consular department in Istanbul (works with documents from Georgia).
These are the main criteria. In each specific case, nuances are possible.
All materials on obtaining a Mexican resident visa and residence permit based on economic viability are collected on our websiteHere.