top of page

2022 Financial Requirements for Temporary and Permanent Residency in Mexico

This article describes the financial criteria required to qualify for legal residency in Mexico under the auspice of 'economic solvency'

When you plan to apply for legal residency in Mexico, Mexican immigration law states that applicants for residency need to fulfill certain criteria.

Most applications for residency are granted based on ‘economic solvency’ and these criteria intend to ensure that people applying for residency in Mexico have the means (income or savings) to sustain themselves in Mexico.


Applications via Mexican consulates

Most initial applications for residency must begin at a Mexican consulate abroad unless your situation is one of the few that allow initial applications for residency to be made within Mexico—most are related to ‘Family Unit’ applications, whereby the applicant has specific family ties or roots here.


How ‘economic solvency’ is determined

Applicants seeking residency in Mexico via the route of ‘economic solvency’ need to demonstrate a minimum monthly income or a minimum balance of savings/investments over a specified timeframe.

The amounts required are determined as multiples of UMA, although Mexican consulates abroad —where most applications must begin— apply multiples of the daily minimum wage (Salario Minimo) as a basis for their calculations, instead.


How qualifying ‘multiples’ work:

Depending on the type of residency applied for, applicants must demonstrate varying (x) multiples of UMA or daily minimum wage (MW). The table below illustrates the multiples of UMA or daily Minimum Wage (MW) required for qualification.

  • If your application is made at a Mexican consulate abroad, the amount required will be calculated using MW.

  • If your application is made at an immigration office in Mexico, the amount required will be calculated using UMA.


* Family Unit applications are those whereby the applicant has specific family ties or roots in Mexico.

UMA 2022: $96.22 pesos; MW 2022: $172.87 pesos

Requirements expressed in monetary terms

The monetary amounts needed per the rules are expressed in Mexican pesos; however, most foreign applicants have their income or savings in other currencies.


Via Mexican consulates

When you apply for residency at a Mexican consulate abroad, the consulate will quote a monetary amount in the currency of the country where the consulate is situated, e.g., USA/CDN dollars, UK pounds, France euros, etc. It’s quite common for consulates’ requirements to vary from one another, and the exchange rates they apply may also vary.

Note: Mexican consulates are aligning their requirements with multiples of Mexico’s daily minimum wage (MW) and not UMA.


Via an immigration office in Mexico

When you apply for any immigration procedure at an immigration office in Mexico —for example, residency based on Family Unit, exchanges, renewals, regularization, etc.— the immigration office will quote Mexican pesos (or a foreign currency equivalent) based on the multiples of UMA if an ‘economic solvency’ requirement is asked for within the scope of that procedure.


Typical amounts required by Mexican consulates

Mexican consulates abroad are quoting their financial requirements based on calculations using Mexico’s 2022 daily minimum wage (MW). We have not seen information from any consulate quoting requirements based on UMA measures.


Typical requirements based on 2022 MW levels

Mexican consulates abroad are currently asking for requirements based on daily minimum wage levels (MW) for 2022.

With requirements based on the daily minimum wage (MW) for 2022, applicants will typically be asked to demonstrate:


Temporary Residency: Monthly income of c.US$2,400-$2700 over the last 6 months (some consulates request 12 months); or savings/investment account balance(s) of c.US$45,000 over the last 12 months.


Permanent Residency: Monthly income of c.US$4,300-$4500 over the last 6 months (some consulates request 12 months); or savings balance of c.US$180,000 over the last 12 months.


Qualifying income or savings types Income or savings can be demonstrated from multiple sources and accounts, and/or multiple incomes or savings types. You do not need to have all the income or savings from one source, nor all the income or savings in one account. To find out what types of income and savings qualify, read these FAQs about obtaining residency via ‘economic solvency.’


Requirements vary by consulate

As we have remarked in our Mexico Immigration Guide and elsewhere, it’s common for ‘economic solvency’ requirements to vary between consulates.

The difference usually arises due to the variation in the exchange rate applied by each consulate to calculate the figures in the local currency where the consulate is situated, although requirements are broadly aligned with Mexico’s 2022 minimum wage multiples, as described above.


Financial requirements based on asset type

The tables below illustrate typical monetary amounts required for the most common types of residency application, expressed in US dollars, using an exchange rate of 19 Mexican pesos to 1 US dollar.

When applying at a Mexican consulate abroad, the consulate will quote the required amounts in the local currency where the consulate is situated, and it may use a different exchange rate to the one we’ve used in these illustrations.


Mexico residency qualification based on income (2022)

This table illustrates the minimum monthly income that must be demonstrated in the 6 months preceding your application date (some consulates ask to see 12 months). The amounts below are expressed in Mexican pesos (MXN) with an approximate equivalent in US dollars (USD), based on the legal multiples of UMA or Minimum Wage (MW) required for qualification. See the section above to learn about how the ‘multiples’ are applied in these calculations.


* Family Unit applications are those whereby the applicant has specific family ties or roots in Mexico.

UMA 2022: $96.22 pesos; MW 2022: $172.87 pesos


Mexico residency qualification based on savings (2022)

This table illustrates the minimum savings balance (cash or investments) required, and this minimum balance must be demonstrated for at least a full 12 months preceding your application date. The amounts below are expressed in Mexican pesos (MXN) with an approximate equivalent in US dollars (USD), based on the legal multiples of UMA or Minimum Wage (MW) required for qualification. See the section above to learn about how the ‘multiples’ are applied in these calculations.


Residency using the value of your Mexican home (2022)


You can apply for Temporary Residency if you own a residential property in Mexico (not abroad) with a market value of at least 40,000x daily minimum wage (MW) or UMA.

This equates to:

  • MXN$6,914,800 (approximately $363,937 US dollars) if MW is applied to the calculation; or

  • MXN$3,848,800 (approximately $202,568 US dollars) if UMA is applied to the calculation; and:

  • the property must be situated in Mexico;

  • the property value must be free of any liens (debts, charges, or mortgages);

  • the value is that noted on the title deed/sales contract or recent official valuation;

  • the name on the title deed/sales contract must match that of the applicant.

Although you cannot apply for Permanent Residency right away using your Mexican home value, after four consecutive years of holding Temporary Residency, you may apply to exchange that for Permanent Residency.

Contact a Mexican consulate or request our Mexico Immigration Assistance Service for further advice and procedures about this route to legal residency.


Residency using a capital investment in Mexico (2022)


You can qualify for Temporary Residency if you commit to investing in a private Mexican-owned company or a company or companies listed on the Mexican stock exchange. The minimum investment required is 20,000x daily minimum wage (MW) or UMA.

This equates to:

  • MXN$3,457,000 (approximately US$182,000) if MW is applied to the calculation; or

  • MXN$1,924,400 (approximately US$101,284) if UMA is applied to the calculation; and:

  • the capital must be invested in one of a prescribed set of ways; and

  • these applications tend to be more complex than applications made using ‘economic solvency’ or ‘family unit.’

Although you cannot apply for Permanent Residency right away using a capital investment in Mexico, after four consecutive years of holding Temporary Residency, you may apply to exchange that for Permanent Residency.

Contact a Mexican consulate or request our Mexico Immigration Assistance Service for further advice and procedures about this route to legal residency.



279 views0 comments

Recent Posts

See All
bottom of page