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proof of income requirements to move to mexico

Hi! I am a new member and I am considering moving and buying property in Mexico. I was wondering if there is a requirement that you must have in savings before being able to move there.  I would be looking for work once I got there also to supplement savings.   

Thanks!

You will need a Residencia Permanente in order to work or get a job offer before applying for a Residencia Temporal. For permit requirements look here: Requirements

oh okay thank you.  That seems confusing temporal seems temporary and permanente seems permanant, so confusing as to why one would need a permanente first, then a temporal.  Well it seems, that I may not move to mexico and just buy a house with some savings and go from there, I must have proof of income before going there correct? Thank you for your kind response joaquinx :)

There are three types of visa's as far as I know:

1.  Tourist - 180 days.
2.  Temporary - 1 year with renewals every year
3. Permanent (Residente Permanente) - Forever

Both 2 and 3 require proof of income.  I believe that the Temporary can be converted to a Permanent after 5 years.

It is less expensive to get a Permanent Visa then pay for 5 years of Temporary Visas and you only have to prove income once.

You can get a Temporary Visa that allows for work at a specific job.

A Permanent Visa allows you to get any job you want.  It's much easier to get a Permanent and then look for a job than getting a job offer and then applying for a Temporary since i believe the income requirements may be the same.

You don't need a Permanent Visa before you get a Temporary.  You either get a Temporary and convert it to Permanent later on or a Permanent from the start.

I got a Permanent Visa about 5 years ago by going to the Mexican Consulate in NYC.  Total time I spent in the Consulate and INM in Cuernavaca until I had the document in my hand was about 4 hours since I contacted the Consulate ahead of time to be sure I had every document they required before I went to them.

thank you  wkramer! That clears up some questions I had.  It is confusing looking at all the information available on line as much of it is contradictory.

I do not have an income at the moment I closed my business and went thru a recent divorce.  I am selling a residence which will give me some money to live on for a while and re invest in a new residence. 

Do you know if one can use a savings as proof of income rather than an actual job? and how much savings one would need for proof? been trying to search on line and can't find anything solid to go on.  many thanks!

Your best place to answer these question would be the nearest Mexican Consulate. You have to stop there anyway to get either a Temp or Perm visa.

The proof of income they require is either cash in the bank or assets or monthly income (a job, Social Security etc.).  I just used a retirement account that had more than enough in it to satisfy their assets requirement.  After I gave them a copy of the last retirement account statement they didn't even look at my bank statements that showed my monthly income.

If you own property in Mexico you only have to meet half of the income/assets requirements (at least when I got mine).

You should call the Mexican Consulate in NYC even if you have one closer  to you since I hear all kinds of horror stories as to what information you will get from different consulates.  The NYC is the largest and all the people who do the visas speak perfect English and are very helpful.

Thank you for your help :)

Also, you should know that once becoming a Perm. Res. you will no longer be allowed to drive foreign plated vehicles, you must import yours(very expensive) or buy one here. If you decide to buy a Mexico car, be sure to check the safety standards with that model as they are significantly less than up North.

Welcome to Mexico....it's a great place to live!!!

Thank you! and thanks for the advice, good to know! I am wondering now just how expensive it is to import my vehicle.

Delightedtogo :

Thank you! and thanks for the advice, good to know! I am wondering now just how expensive it is to import my vehicle.

Personal expérience, owned a 2013 Sonate, moved to Mexico August 2017. Call the Aduana for cost = very expensive 16% of US dealer value + paperwork/admin cost + time consuming + high cost for insurance recent vehicule.

Same scenario, with permanent or temporary residency statut, spoke to Sonia Diaz www.soniadiaz.com  she gave us this advice "since it's a recent vehicule, you might be better off selling the vehicule in your country and buy one in Mexico from a dealer so the paperwork is included in the purchase price".

So, we sold the Sonata back home and got the INAPAM card (senoir's rebate card +60 years) and using the intra/inter cities buses for 50% (exemple: La Peñita de Jaltemba to Guadalajara retira 440$ pesos, 4,30hrs first class bus), intracity PV buses 3,75$ pesos. We have no intentions to buy a vehicule for the time being but purchased a "bicicleta urbana" for less then 3000$ pesos, great exercice and all services in La Peñita de Jaltemba are less then 1km away.

Adios, GyC.

Delightedtogo :

Thank you! and thanks for the advice, good to know! I am wondering now just how expensive it is to import my vehicle.

I strongly recommend not bringing your personal car if you want permanent residence. As long as you are a visitor you can go back and forth with your car paying a import fee to go beyond two specific border states, which means fees for most of Mexico except the Sonora and Tijuana areas. The fee will be returned when you leave and then you can use that same money when you return. 6 years ago I payed a $300 dollar fee  for my older model Audi. The big draw back of having a non Mexican plated car is you get a lot more attention, especially from the police.

The visitor for 180 days plan is actually what you should do until you get your feet wet in Mexico and see what you think.

Importing a car is very expensive and problematic. Buying a Mexican car is better .  The idea that Mexico is full of just cheap beater cars is a myth.  The problem with used Mexican cars is that like many in the U.S. they are maintained mechanically in a way that wears down the engine and parts. Like a number of people do in the U.S. . Many here think revving the engine is a good thing and good for the car which it is not, So buying one of those cars could mean you are buying a stressed engine with a shorter life span. They have pretty much eliminated the Katrina cars sent to them by the U.S., but in some areas there could still be some flood damaged cars.

Buying a new car is possible , but your U.S. credit will not count. you have to have the money or Mexican credit which really won't happen until you create it as a permanent resident. So those are the facts I have tested myself. Find people who will help you that you trust, if you don't speak Spanish work on that.

For the time being stay as a visitor for awhile, meet people, and check out the local transportation like busses, taxies, walking, maybe Uber, but be very careful about Uber especially if you choose Mx. city or Puebla
Buena suerte

Very good! thanks to all with great advice.  I will be temporary for at least 6 months before I decide If I want to buy real estate and settle there for sure.  Just trying to get an idea of what I will have to go through if I decide to to live there long term, so I very much appreciate all points of view.

Hi "Delightedtogo", a final suggestion if I may, since you are from Oregon, your first 6 months trip could take you all the way down the west coast to Zihuatanejo then inland to Patzcuaro, Morelia, SMA, San Luis Potosi then onto the east coast to Cancun via Mexico in between Puebla, Campeche, Merida.

But there are even more areas to visit like Guanajuato, Queretaro.

Be prepared with the Guiá Roji travel atlas for Mexico, Lonely planet and Terry &Mike Church Mexican campground guide if you intend to camp.

Adios y muy buen viaje, GyC.

Thank you "mexicogc" not sure how far I will travel, but will keep it in mind.

AND....... ALL of Quintana Roo~~~ From Cancun to Chetumal
Is a 'Free' zone, so once here cancel your permit--get your money back---and never leave :D  :whistle:

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