2024 Income/Savings Requirements for Temporary and Permanent Residency

Likely going to see a large drop in the number of people choosing to retire in Mexico. No one needs $7,243US a month to live on in Mexico, unless they are accustomed to living like a millionnaire.
I could live quite comfortably in Canada for far less than that.

While I support raising the minimum wage, which is still absurdly low, if Mexico actually wants the revenue which foreign retirees provide by living here, they are going to have to change the income requirements for residency to a different model than pegging it to the Mexican minimum wage.

Its been so long, please remind me. Is that an individual or family income requirement?

SunFan

Even the income requirement for temporal is far more than necessary to live comfortably in Mexico unless you want to go out for fancy dinners every night, or buy all the imported products you just somehow can't live without.

I'm just happy I got my temporary residency 20 years ago, when you could apply from within Mexico, I didn't have to provide any financial info, and segued into permanente 11 years ago.

mudgirl wrote:Even the income requirement for temporal is far more than necessary to live comfortably in Mexico unless you want to go out for fancy dinners every night, or buy all the imported products you just somehow can't live without.

If they don't change the income formulae we're going to be seeing more BMWs and Porches around Lakeside.

SunFan

Please check your math Bisbee gal. 40,000 x 2.49 is 99,600.00 pesos

Thanks.