If you read my post last November explaining how the Mexican government sets the financial requirements for foreigners seeking residency visas, you know it’s based on the national minimum wage.
My previous article estimated the likely thresholds foreign applicants would be expected to meet next year because the minimum wage for 2025 hadn’t been announced yet.
With the recent news of Mexico’s minimum wage increase for 2025, I am sharing revised financial requirements that aspiring expats must hit if they apply for residency next year.
The good news is that the growth rate for financial requirements has slowed compared to 2023 and 2024. Specifically, applicants must show 12% more income and savings in 2025 as compared to 2024.
This makes qualifying for residency next year slightly easier than previously expected. Below are all the details, based on the various methods to qualify.
And if you need a refresher on how Mexico’s immigration process works, I suggest you start by reading my previous post, which gave a detailed overview.
Financial Requirements for Residency Visas in 2025
All the financial requirements for residency are calculated using the Mexican daily minimum wage, shown below. Note that the minimum is higher in the northern border zone than in the rest of the country — but foreign applicants are typically held to financial minimums based on the “Rest of Mexico” number.
For those seeking temporary residency, valid up to four years you will need to satisfy the following requirements — either income or savings — not both.
For those seeking permanent residency, which also allows the visa holder to work in Mexico, you will need to meet one of the following thresholds for income or savings.
Without trying to scare you, it’s important to know that these requirements aren’t set in stone and your mileage may vary. Every Mexican Consulate abroad (where the visa application process starts) is free to put their own spin on things, and many do.
Some Mexican consulates are known for imposing more stringent financial requirements on applicants than the minimums shown above. Unfortunately, this is just how things are — and something to accept if you plan to move to Mexico.
And while no one can have accurate, to-the-minute details on exactly what each consulate wants, some research suggests these consulates have accepted less than the “required minimums” to qualify for residency:
- Boise, ID
- McAllen, TX
- Raleigh, NC
- New Orleans, LA
- San Francisco, CA
- Toronto, Canada
It’s anyone’s guess if that will remain the case in 2025, but it’s worth seeking an appointment at one of these locations if you’re worried about having enough to qualify. (assuming they allow non-local residents to make appointments)
Before you go, I suggest doing as much research as possible to be well-prepared. Two resources I recommend checking are the Mexican consulate’s website (for the location you plan to visit) and the Reddit group Mexico Expats, which is filled with posts from recent applicants describing their experiences and swapping tips.
Qualifying for Mexican Residency Through Real Estate Ownership
While most applicants opt to qualify via income or savings, some who already own personal property in Mexico may choose this method instead. Most don’t though… due to the high valuation required.
To qualify you must provide proof of ownership of a home valued at a minimum of $11,152,000 MXN, or approximately $557,600 USD using an exchange rate of $20 pesos to the dollar.
If you go this route, your Mexican property must be owned outright, with no outstanding mortgage or liens against it. In addition, the deed must be signed by a notary public and exactly match the visa applicant’s name.
If All Else Fails, Try the “Backdoor” Method to Mexican Residency, i.e. Regularization
If you don’t meet the financial requirements for Mexican residency using the traditional approach, there’s another option to try — a method I refer to as Mexico’s “backdoor” residency visa.
For those who traveled to Mexico before 2022 (and can prove it with stamps in their passport), you are eligible to apply for Mexican residency within Mexico via the regularization program.
Please see my previous article on this method for a deep dive into how it works.
And to all Mexpat hopefuls out there, stay patient and bring a good sense of humor. You’ve got this!