Flash – Lower Income Mexico Retirement Visa at Lake Chapala

October 14, 2014

Hi Friend,

“Check the below article out. Verified with other sources as well,
Tu amigo, Sid

← New Rules Announced for Permanently Importing Used Cars into Mexico
More Changes to Mexican Immigration Law Coming October 17, 2014
Posted on October 10, 2014 by yucalandia
October 10, 2014:
The well-respected Mexican attorney, Lic. Spencer McMullen of Chapalalaw.com, offers this latest update to Mexican immigration rules and policies, based on the Oct. 10, 2014 DOF:

http://www.dof.gob.mx/nota_to_doc.php?codnota=5363602

“HUGE Changes today to Mexican immigration law
These changes apply to visas issued at Mexican consulates outside Mexico. I am assuming that there will be a publication soon applicable to people renewing within Mexico to harmonize the new lower financial requirements.

Reduced income requirements for temporary residence, new income / asset requirements:
Balances in bank 5,000 days minimum wage (67.29 pesos) $336,450 pesos or $25,164US
Monthly income 300 days minimum wage (67.29 pesos) $20,187 pesos or $1,510US
1. Original y copia de comprobante de inversiones o cuentas bancarias con saldo promedio mensual equivalente a cinco mil días de salario mínimo general vigente en el Distrito Federal, durante los últimos doce meses; o
2. Original y copia de los documentos que demuestren que cuenta con empleo o pensión con ingresos mensuales libres de gravámenes mayores al equivalente de trescientos días de salario mínimo general vigente en el Distrito Federal, durante los últimos seis meses.

Permanent residents have same income requirements but lower asset requirements:
Balances in bank 20,000 days minimum wage (67.29 pesos) $1,345,800 pesos or $100,658US
Presentar los documentos que acrediten alguno de los siguientes supuestos:
a. Jubilados o pensionados:
1. Original y copia de comprobante de inversiones o cuentas bancarias con saldo promedio mensual equivalente a veinte mil días de salario mínimo general vigente en el Distrito Federal, durante los últimos doce meses, o
2. Original y copia de los documentos que demuestren que cuenta con pensión con ingresos mensuales libres de gravámenes mayores al equivalente de quinientos días de salario mínimo general vigente en el Distrito Federal, durante los últimos seis meses.

Lic. Spence McMullen, Mexican licensed attorney (Cédula #7928026) and official court translator (Perito Traductor). Mx 376-765-7553″

We’ll report more details as they become available.
* * * *
For details on visiting or moving to Mexico, see our main immigration article at: ~ Current Rules and Procedures for Immigration, Visiting, and Staying in Mexico
* * * *
Feel free to copy while giving proper attribution: YucaLandia/Surviving Yucatan. © Steven M. Fry

We’ll stay on top of this for you, Sid

  • JohnPS

    Thanks, Sid for providing this breaking news.
    What types of investments are acceptable for meeting the bank/investment balances requirements? Specifically, do 401(k) accounts count?

  • Jan

    Dear Sid, I have the official October 2014 immigration changes here in front of me. Regarding pension $ requirements, to apply for the 10′ year non-working visa, I quote: “Original y copia de los documentos que demuestren que cuenta con empleo o pensión con ingresos mensuales libres de gravámenes mayores al equivalente de cien días de salario mínimo general vigente en el Distrito Federal, durante lo ultimos tres meses.” This differs from what Mr. McMullen wrote. I’m not an immigration lawyer, just someone whose sister is about to apply at a Mexican consulate in the U.S. I read this a little differently: literally – “equivalent of 100 days of DF minimum salary, during the last three months”. That’s a pretty foggy way to put it! COULD mean minimum of 100 days DIVIDED by 3 months, (2243 pesos per month – highly unlikely!) or 100 days PER month over the last 3 months (6729 pesos per EACH month of a 3-month period) OR that you have to show a monthly equivalent of 3 months of the DF minimum wage (20,187pesos per month), as interpreted by Mr. McMullen. Would you do me the favor of confirming that figure? I fear his 20K figure may be correct , but I’m HOPING the 6729 per month is. Otherwise, my sister’s 1200USD/mo. SS check (her only income), will get her application denied. BTW, I am a permanent working resident of Mexico for 20 years, and I don’t make close to 20K per month as a university professor. Thanks! Jan

Email for more information:
Sid@ChapalaClub.com

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