Economic Solvency

What Is Economic Solvency?

Economic solvency is one of the most common pathways to obtain residency in Mexico. It allows individuals with sufficient financial resources to live in Mexico legally without the need for employment or business activities.

Why Choose Economic Solvency?

  • Flexibility: Suitable for retirees, independent professionals, or individuals with stable income.
  • Residency Options: Apply for temporary or permanent residence.
  • Simple Requirements: Focused on proving financial means.

Who Can Apply Based on Economic Solvency?

This option is ideal for:

  1. Retirees: Individuals with pensions or retirement income.
  2. Self-Sufficient Individuals: People with stable income from investments, rental properties, or other sources.
  3. High Net-Worth Individuals: Those with substantial savings or assets.

Eligibility Requirements

To qualify under economic solvency, you must meet one of the following financial criteria:

  1. Monthly Income:
    • At least $2,500 USD (or equivalent in pesos) for the past 6 months.
  2. Savings or Investments:
    • A balance of at least $50,000 USD for the past 12 months.
  3. Pension Income:
    • Proof of stable pension payments meeting the monthly income requirement.

Required Documents

The following documents are typically required for economic solvency applications:

  1. Valid passport and copies.
  2. Completed visa application form.
  3. Recent passport-sized photos.
  4. Financial proof:
    • Bank statements (originals and copies).
    • Pension or income statements (if applicable).
  5. Proof of legal residence in your home country (if applicable).
  6. Payment receipt for application fees.

Application Process

  1. Submit Your Application:
    File your application at the nearest Mexican consulate in your home country.
  2. Consular Interview:
    Present your documents and discuss your financial situation.
  3. Visa Issuance:
    If approved, you’ll receive a visa to enter Mexico.
  4. Complete the Process in Mexico:
    Within 30 days of arrival, visit an immigration office (INM) to finalize your residency card.

Duration of Residence

  • Temporary Residence: Initially valid for 1 year, renewable for up to 4 years.
  • Permanent Residence: May be granted directly to retirees or individuals with substantial financial resources.

How We Can Help

Our team provides tailored support to ensure a smooth process, including:

  • Assessing your eligibility for economic solvency.
  • Preparing and reviewing your financial documents.
  • Scheduling and preparing for consular appointments.
  • Guiding you through the immigration office procedures in Mexico.

Frequently Asked Questions (FAQ)

1. Can I work in Mexico with an economic solvency visa?
No, this residency is granted based on your ability to support yourself financially without working.

2. How long does the application process take?
It typically takes 2-3 months from the initial application to obtaining your residency card.

3. Can I transition to permanent residence?
Yes, after 4 years of holding temporary residence, you can apply for permanent residence.

Contact Us

Need assistance with your economic solvency application? Reach out to us for expert guidance!