Puerto Vallarta News
Puerto Vallarta News

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Mexico Eases Some Income/Asset Requirements for Foreign Residents

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6 Responses
  1. Sharon Helpard

    I am wondering how the assets work. I have RRSP’s, one provides a monthly income of 1200.00 and has a present value of 35,000.00 and another that is locked in at approximately $53000.00. I also have a home in the state od Quintana Roo. with the new requirements would I qualify for temporary resident, or do I have to show cash in the bank?

  2. Emily G

    Hoping to do a little searching in Feb 2015 when we come for a visit to PV – I would love to retire there – even if it’s just 6 months out of the year! So this is good news for me for sure! I love PV – it is a beautiful space with fabulous people and things to do and the weather is perfect!

    1. VallartaDaily.Com

      For six months out of the year you shouldn’t need a Visa unless you plan on opening a bank account in Mexico or doing any “official” business, to the best of my knowledge. You can stay on a tourist visa for six months, many residents do this. Of course if a long term investment and more temporary move is considered, then going through with some sort of residents card could make life a little easier when it comes to banking or considering real estate.

    1. VallartaDaily.Com

      Visas are not issued to couples, all applications are done as individuals, so there is no couple requirements as far as the laws are concerned. With that said, our understanding is that if a married couple has a joint account, or assets, that meets the requirements for a single visa, then each applicant can submit the copies of the bank records separately. We are not attorneys, this is just our understanding.