Can I get residency if I buy property in Mexico?
– What is a temporary visa, and why would you want one?
The temporary residence is what we previously knew as FM2 or FM3, which were categories of visas used by international students and workers inside Mexico, usually issued by a Mexican company, mainly a Mexican wife or husband.
This document allows/authorizes to be within Mexican territory or more than 180 days with a maximum period of 4 years once specific points are demonstrated, such as:
– Economic solvency
– To be part of a scientific research project within the Mexican territory.
– By invitation of a public or private entity to participate in an economic activity.
– Own real estate in Mexico.
– To be an investor.
The temporary residence gives you a Unique Population Registration Key (CURP). This key allows you to open bank accounts, register a car with foreign license plates and use it within the country, among other benefits.
– Who is this type of visa addressed to?
To foreigners who seek to stay in Mexico temporarily because they have made investments in the country in accordance with section VI of Article 107 of the Regulations of the Migration Law. This type of visa does not authorize paid work in Mexico.
– What are the requirements?
To start the residency process as an investor, you must have the following documents:
– Original and copy of valid passport
– Visa application form can be downloaded on the embassy page.
– Passport-size photograph with white background and front.
– Document proving legal stay in the country (visa, resident card).
– Accreditation of the investment made within the Mexican country by:
- Original and copy of the deed or policy of the Mexican legal entity issued before a Public Notary or certified document stating that the foreign person participates in the social capital of said Mexican legal entity.
- Original and copy of the document proving real estate ownership or fixed assets in favor of the foreign legal entity used for economic or business goods. The value must exceed 20,000 days of the current minimum wage in Mexico City.
- Original and copy of the documentation accrediting the development of economic or business activities in the national territory. Contracts, service orders, invoices, receipts, business plans, licenses, certificates issued by the IMSS to employ, etc.
Those who plan to apply for the permanent visa must prove that they have a monthly income of between $4,300 USD and $4,500 USD during the previous six months. Or, as with a retiree, show a balance of $180,000 USD in the last 12 months.
Another way to get a permanent visa is through family ties:
The following family ties with a Mexican citizen or a foreigner with a permanent residence visa are recognized as grounds for a permanent residence visa: Children, parents, spouse or partner in a free union, and siblings.
Mexico offers different ways to live and visit its territory; everything will depend on the time and conditions you are willing to stay.