Mexico Eases Some Income/Asset Requirements for Foreign Residents

October 13, 2014

On October 10, 2014, the Diario Oficial de la Federación released the new financial guidelines for foreigners wishing to apply for temporary and permanent residency in Mexico. The new changes will take effect on October 17, 2014.

Previously the minimum bank balance average for a 12-month period for foreigners applying for temporary residents was equivalent to 20,000 days of the minimum wage rate in Mexico, $100,000 US using today’s exchange rate. The new rules have drastically reduced the rate to 5,000 days of the minimum wage rate in Mexico, or about $25 . . .

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