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Income required for Temporal and Permanente

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Income required for Temporal and Permanente

Post by David on Sun Jan 03, 2016 1:40 pm

What are the 2016 income requirements to qualify for Residente Temporal and Permanente? Is it still possible to get Permanente based on assets, investments, and/or savings?
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Re: Income required for Temporal and Permanente

Post by Intercasa on Sun Jan 03, 2016 8:52 pm

Hi, I just updated my web site

http://www.chapalalaw.com/immigration-2/

VISA REQUIREMENTS AT MEXICAN CONSULATES OUTSIDE MEXICO:
To qualify for the temporary visa they must show a monthly income of 300 times the minimum wage (for 2016 it is 73.04 pesos) or 21,912 pesos or $1,270 US dollars using an exchange rate of 17.25 to 1 (using December 31, 2015 exchange rate). This must be documented with 6 months bank statements. People who have liquid assets may qualify showing that they have maintained an average balance of 5,000 times the minimum wage (for 2016 it is 73.04 pesos) or 365,200 pesos or $21,171 US dollars using an exchange rate of 17.25 to 1 (using December 31, 2015 exchange rate). This must be documented with 12 months bank statements.

To qualify for the permanent visa they must show a monthly income of 500 times the minimum wage (for 2016 it is 73.04 pesos) or 36,520 pesos or $2,117 US dollars using an exchange rate of 17.25 to 1 (using December 31, 2015 exchange rate). This must be documented with 6 months bank statements. People who have liquid assets may qualify showing that they have maintained an average balance of 20,000 times the minimum wage (for 2016 it is 73.04 pesos) or 1,460,800 pesos or $84,684 US dollars using an exchange rate of 17.25 to 1 (using December 31, 2015 exchange rate). This must be documented with 12 months bank statements.

You can apply for visas for your spouse (gay couples included) and children at the consulate at the same time or we can do it when you are here in Mexico once the primary applicant has their visa. Remember that in order to do this we will need birth / marriage certificates and apostilles (legalized copies for those from Canada or non Hague Convention countries).

Please be advised that the consulates might have their own special rules. Processing time varies from a few hours to a few days on average. We can consult with you prior to your trip to the consulate and then prepare you for finishing the process here in Mexico as well as advise you how to properly fill out the FMM form upon arrival so that there will be no processing delays. Clients have reported that the consulates in Laredo, Texas and Las Vegas, Nevada are some of the easier ones to deal with as Las Vegas only requires US$1,000 per month to get temporary. While the law says you must give 6 or 12 months bank statements, many consulates only ask for 3 to 6 months.

VISA REQUIREMENTS AT THE NATIONAL IMMIGRATION INSTITUTE INSIDE MEXICO:
To qualify for the temporary visa they must show a monthly income of 400 times the minimum wage (for 2016 it is 73.04 pesos) or 29,216 pesos or $1,693 US dollars using an exchange rate of 17.25 to 1 (using December 31, 2015 exchange rate). This must be documented with 6 months bank statements. People who have liquid assets may qualify showing that they have maintained an average balance of 20,000 times the minimum wage (for 2016 it is 73.04 pesos) or 1,402,000 pesos or $95,374 US dollars using an exchange rate of 17.25to 1 (using December 31, 2015 exchange rate). This must be documented with 12 months bank statements.

To qualify for the permanent visa they must show a monthly income of 500 times the minimum wage (for 2016 it is 73.04 pesos) or 36,520 pesos or $2,117 US dollars using an exchange rate of 17.25 to 1 (using December 31, 2015 exchange rate). This must be documented with 6 months bank statements. People who have liquid assets may qualify showing that they have maintained an average balance of 20,000 times the minimum wage (for 2016 it is 73.04 pesos) or 1,460,800 pesos or $84,684 US dollars using an exchange rate of 17.25 to 1 (using December 31, 2015 exchange rate). This must be documented with 12 months bank statements.
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Re: Income required for Temporal and Permanente

Post by mattoleriver on Sun Jan 03, 2016 10:36 pm

Spencer, are the qualifying amounts for all of 2016 tied to the exchange rate on Dec. 31 or do the amounts (in USD) float with the exchange rate on a daily basis throughout the year?

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Re: Income required for Temporal and Permanente

Post by Intercasa on Mon Jan 04, 2016 10:53 am

Exchange rate fluctuates and I used the most recent info available from the Bank of Mexico.
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Re: Income required for Temporal and Permanente

Post by David on Mon Jan 04, 2016 11:05 am

Mil gracias!
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Re: Income required for Temporal and Permanente

Post by floridaze on Mon Jan 18, 2016 3:42 pm

I plan on applying for visa in a couple months. Do I have to apply for Temporal residente first, or can I apply directly for a Permanente, if I am eligible financially for either. What would be the advantage/disadvantage of applying for Permanente right away. Do I have to have a permanent residence in Mexico before seeing IMM, or more likely Chapala Law. I would be in process of looking for long term housing when I get there, but that might take more than 30 days.

Thanks

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Re: Income required for Temporal and Permanente

Post by gringal on Mon Jan 18, 2016 3:52 pm

I'd go see Chapala law first to get the facts. It's my impression that people with enough income/assets can go directly to Permanente.


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Re: Income required for Temporal and Permanente

Post by David on Mon Jan 18, 2016 4:32 pm

floridaze wrote:I plan on applying for visa in a couple months. Do I have to apply for Temporal residente first, or can I apply directly for a Permanente, if I am eligible financially for either. What would be the advantage/disadvantage of applying for Permanente right away. Do I have to have a permanent residence in Mexico before seeing IMM, or more likely Chapala Law. I would be in process of looking for long term housing when I get there, but that might take more than 30 days.Thanks

You'll need to ask that question of your nearest Mexican Consulate. Some will let you get a Permanente right away, some will not. Other questions can be addressed to Chapala Law via their website.
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