Likkmee
Gold Member
Tell them bring cash..and tequila !
Temporary residency through a real estate purchase
If you are interested in purchasing real estate in Mexico, you may be able to automatically qualify for temporary residency. If you can prove that you have made an investment in real estate in Mexico equal to the value of forty thousand days of general minimum wage in Mexico City (73.04 MXN in 2016) — which is approximately $172,000 USD at the current exchange rate — you can obtain a temporary resident visa.
For that price, you can get a modern two to three bedroom apartment in Mexico City, or a luxury home with three to five bedrooms and a swimming pool in most other parts of the country, including the suburban zones of Mexico City in the state of Mexico.
Temporary residency through investment
Your other option is to have a number of different investments in Mexico, including real estate, stocks, and a business. Altogether, you should have at least $86,000 USD (at the current exchange rate, or 20,000 days of general minimum wage) invested in real estate and another $86,000 invested in shares in a Mexican corporation.
You must also provide sufficient documents to prove the development of economic activity, such as invoices, receipts, contracts, business plans, permits, and your registry with the Mexican Social Security department showing that you are employing at least three people.
In any of these cases, temporary residence is only granted for a one year period to begin, after which you can apply for renewal for an additional one to three years.
To maintain your temporary resident card, there is no requirement for the time you must spend in the country during the course of a year. Plus, you can enter and exit the country an unlimited number of times. However, while this currently does not create any problems for renewing your residency card, if you plan to apply for Mexican citizenship in the future, you should reside in Mexico for most of the year.
Temporary residency through a real estate purchase
If you are interested in purchasing real estate in Mexico, you may be able to automatically qualify for temporary residency. If you can prove that you have made an investment in real estate in Mexico equal to the value of forty thousand days of general minimum wage in Mexico City (73.04 MXN in 2016) — which is approximately $172,000 USD at the current exchange rate — you can obtain a temporary resident visa.
For that price, you can get a modern two to three bedroom apartment in Mexico City, or a luxury home with three to five bedrooms and a swimming pool in most other parts of the country, including the suburban zones of Mexico City in the state of Mexico.
Temporary residency through investment
Your other option is to have a number of different investments in Mexico, including real estate, stocks, and a business. Altogether, you should have at least $86,000 USD (at the current exchange rate, or 20,000 days of general minimum wage) invested in real estate and another $86,000 invested in shares in a Mexican corporation.
You must also provide sufficient documents to prove the development of economic activity, such as invoices, receipts, contracts, business plans, permits, and your registry with the Mexican Social Security department showing that you are employing at least three people.
In any of these cases, temporary residence is only granted for a one year period to begin, after which you can apply for renewal for an additional one to three years.
To maintain your temporary resident card, there is no requirement for the time you must spend in the country during the course of a year. Plus, you can enter and exit the country an unlimited number of times. However, while this currently does not create any problems for renewing your residency card, if you plan to apply for Mexican citizenship in the future, you should reside in Mexico for most of the year.