Why Have the Financial Requirements for Residency Skyrocketed?

If memory serves, two years ago the amount of  available, on hand funds one needed to apply for permanent residency in Mexico was $118,000 Canadian dollars. Last year it was raised to $130,000 plus. OK, that was a lot but I understand the amount needs to rise. This year however, it was raised to over $190,000!!!

DANG!!!!! WHY SO MUCH OF AN INCREASE!!!!

Another increase like that and I may have to re-think Mexico.

I'm double thinking about relocating to Mexico, too.  It seems that Mexico will soon become more like the USA in terms of rules and regulations, the same reason we move there in the first place.  The rising rents in every desirable location in Mexico is a prime example of this.  It'll be awhile before they catch up with us, but you can bet that such extreme measures will be instigated against expats living in Mexico in the future, so get ready for it.  The world is getting to be a very difficult place to live in, if you haven't already noticed :(

NYC Rob :

I'm double thinking about relocating to Mexico, too.  It seems that Mexico will soon become more like the USA in terms of rules and regulations, the same reason we move there in the first place.  The rising rents in every desirable location in Mexico is a prime example of this.  It'll be awhile before they catch up with us, but you can bet that such extreme measures will be instigated against expats living in Mexico in the future, so get ready for it.  The world is getting to be a very difficult place to live in, if you haven't already noticed :(

I think if you look around you will see that instability and increased costs are more global. In other words not limited to Mexico. What many countries have in common is new leaders and ever-changing rules of practice and behavior. It's more the lack of regulation and the decline of the rule of law than too much regulation.

I'm an old man now, and I've lived to see many new advancements, new laws, and new politicians.  But you're right.  This time it's global.  I'm only glad that I lived to see "The Good Old Days."  Many Millennials will not.

INM calculates the minimum financial solvency amount in USD by multiplying the minimum wage in CDMX X 500 = monthly pension USD amount to now be about $3,250. The minimun daily wage was raised from about $80 to 88 recently and Jan. 1st. 2020 rose to $123.22 pesos. The CND dollar is down against the USD. The peso is up to about  $18.42 now, not close to $20.00/ 1 USD
Minimum investment financial solvency is 20,000 X CDMX daily minimum wage in USDs for Residente Permanente and that is why it now is $199,000 CND. They are using the equation in the 2011 SEGOB  INM law to caculated the amount not raising it on a whim.

Thanks for that explanation alleycat1.

I'm glad the minimum wage for Mexicans is increasing, while it makes things more difficult for some of us wanting to move there permanently, I realize it is not all about us.

Your can always do temporary resident for the first 4 years and then do permanent.

Thanks, Alleycat
That was helpful. My first thought was the government was limiting the gringo invasion in response to US policy.  Glad to hear I was wrong. 

Presumably that would also apply to every country's expats trying to come here. Right now I'm in Playa and there's now a huge Argentine population, compared to 7 to 12 years ago when I came here regularly.

Who really cares WHY the Mexican government did it, the only thing that matters is that they DID.  I find it highly ironic that when gringos move to Mexico, you have to prove your legality, then prove that you make enough money every month to live here permanently, while tens of millions of Mexican, Central and South Americans continue to live and work in the US illegally, in California even getting jobs, totally free heath care, and even a bi-lingual education for their entire families, "en espanol."  Worse still, it seems that no American even has the courage to talk about it.  This kind of sheer unfairness and inequality is pure insanity, straight up.

NYC Rob:

Good points!

I think the new requirements are a little over the top. Even if the Mexican peso was to increase dramatically in value against the USD, CND & Euro etc... all of a sudden I think it is still overkill, but I am not an economist, just my opinion.

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