Retirement Visa in Mexico

We provide specialized Retirement Visa legal consultation for people looking to retire in Mexico.

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To request a free consultation case, please provide us with your contact details below and we will contact you via email or phone.

What is the Mexican Retirement Visa?

Retirees looking to permanently reside in Mexico can apply for a Permanent Resident visa.

This visa category typically prohibits retirees from engaging in paid activities within the country. Dependents can also be included in the application.

Who can Apply for the Retirement Visa for Mexico?

The retirement visa for Mexico welcomes individuals from any global nationality. Nonetheless, this income criteria must be satisfied:

1. If you plan to retire in Mexico, you must demonstrate that in the past six months you have received a pension or retirement income equivalent to at least 300 days of the Mexican minimum wage (this depends of the country, but goes around US$3,000 to US$5,000). Alternatively, you can prove that you have investments or bank accounts with an average balance of, depending of the country, around US$150,000 – US$200,000 over the past year.
2. If you have a dependent you must have an extra 25% of your monthly income, as well as proof of family relationship (birth certificates, marriage certificates, etc)

The permit is valid indefinitely. After 5 years of legal residency, you may be eligible for naturalization. To obtain citizenship, you must have Spanish language skills and pass a test and interview about Mexican history, culture and values. Nationals of Iberia (Spain and Portugal) or Latin American countries may be eligible for citizenship after 2 years of legal residency.

What documents do you need?

If you are applying for a Residence Permit to retire in Mexico, you will need the following documents:

Cover Letter addressed to the Mexican embassy, including:
- Your full name, address, and passport number
- Details about your pension, including the source and amount
- Information on any investments
- Your address in Mexico and your home country address
- Your travel date and the port of entry
Bank Statements from the last six months showing a set monthly income (typically around US$2,000-US$3,000, depending on the country).
Proof of Investments with bank statements from the last twelve months (if applicable).

If you have a dependent:

You must have an additional 25% of your monthly income for each dependent.
You must include proof of family relationship (e.g., birth certificates, marriage certificates).

How to apply for the visa?

Set Up an Appointment: Contact a Mexican embassy to schedule an appointment. A list of Mexican embassies can be found here.
Complete the Application Form: Fill out the Mexico Visa Application Form, available on the website of the Mexican embassy where you will apply or at the embassy itself.
Gather Required Documents: Collect all necessary documents. Refer to the requirements for a Mexico Family Visa below for guidance.
Submit the Application and Pay the Fee: Attend your appointment, submit your application, and pay the visa fee. During the appointment, you will provide your biometrics and possibly attend an interview.
Wait for Processing: Allow time for your visa application to be processed.
Pick Up Your Passport: If approved, the visa will be affixed to your passport.
Convert Visa to Resident Card: Once you enter Mexico with your Permanent Resident Visa, you must convert it into a Mexican Permanent Resident Card at the National Immigration Institute.

What taxes will you pay?

Taxation for expats in Mexico can be complex and is influenced by the type of visa you hold and whether you are considered a Mexican tax resident.

Retirement Visas:

Retirement visas are designed for those relocating to Mexico without plans to work or run a business. These visas often offer flat taxation rates.
If you officially move your permanent residence to Mexico, you will likely be treated as a tax resident.

Tax Residency:

Typically, non-residents or retirement visa holders are not subject to federal taxes in Mexico if their income is generated and taxed in their country of origin.
However, if classified as a tax resident, you will be treated like any other citizen for tax purposes.

Canada-Mexico Tax Convention:

Canada and Mexico have a Tax Convention that determines how your income is taxed if you become a resident in either country.
As a Mexican tax resident, you will generally pay a 15% withholding tax on pension income from defined benefit plans, Canada Pension Plan (CPP), or Old Age Security (OAS) schemes.

Additional Income Sources:

If you have other income sources, such as rental property, you will be subject to local tax rates on your worldwide income as a Mexican tax resident.

It’s crucial to consider these factors and seek professional advice to manage your tax obligations effectively when relocating to Mexico.

If you become a tax resident in Mexico, the income tax rate goes progresively up to 35% for earnings over 4,511,707 MXN (US$247,882).

In conclusion, the retirement visa in Mexico opens doors to a dynamic work-life experience in a country known for its captivating culture and breathtaking landscapes, but sometimes is difficult to do everything on your own. If you’re eager to embrace the freedom of remote work, and need someone to be at your side on each step of the process, our team is ready to assist you.

Contact Us

To request a free consultation case, please provide us with your contact details below and we will contact you via email or phone.

How can a lawyer help me with the Mexican Retirement Visa?

A lawyer can help you with the Mexican retirement visa by providing legal advice and guidance throughout the application process. Some ways a lawyer can assist include:

Understanding the eligibility requirements: A lawyer can help you understand the eligibility requirements for the Mexican retirement visa, including the criteria you need to meet and the documents you need to submit.
Preparing your application: A lawyer can assist you in preparing your application for the Mexican retirement visa, ensuring that all the required documents are included and that your application is complete.
Addressing potential issues: If there are any potential issues with your application, such as gaps in your employment history or criminal convictions, a lawyer can help you address these issues and present your case in the best possible light.
Representing you in appeals: If your application is denied, a lawyer can represent you in any appeals process and help you to overcome the reasons for denial.
Providing ongoing support: A lawyer can provide ongoing support throughout the application process, answering any questions you may have and keeping you updated on the status of your application.

If you are interested in obtaining a Mexico retirement Visa, don’t hesitate to contact us today. Our team of experienced lawyers is ready to assist you and guide you through the entire application process. Let us help you make your dream of living in Mexico a reality. Contact us now to schedule a consultation and get started!

What Our Clients Are Saying

Join the growing community of retirees in Mexico and experience all that this incredible country has to offer.

Quality Life for You and Your Business

Why Mexico?

Obtaining a retirement visa in Mexico offers numerous advantages. Firstly, it provides legal permission to live and work in one of the most captivating countries, with its vibrant cities, stunning coastline, and rich cultural heritage. Secondly, the visa enables access to Mexico’s thriving digital and tech ecosystem, fostering networking opportunities and professional growth. Lastly, the visa allows retirees to immerse themselves in the warmth of Portuguese hospitality, savor its delectable cuisine, and explore its diverse regions while maintaining a flexible work-life balance.

Cultural immersion

Experience the rich Mexican culture.

Location

Explore Europe without visa restrictions.

Stable economy

Mexico has a stable and growing economy

Delicious cuisine

Taste world-renowned Mexican food and wine.

Affordable living

Cost of living is lower compared to other countries.

Healthcare access

Access to high-quality healthcare facilities and services.

Skilled workforce

Mexico has a highly skilled and multilingual workforce

Travel Opportunities

Explore diverse regions within Mexico.

Frequently Asked Questions

How long does it take to get the visa?

The processing time for a Mexican Temporary Resident Visa varies by embassy, ranging from one week to a month. Therefore, it is advisable to apply for the visa at least one month before your intended travel date.

How much does it cost to retire in Mexico?

One of the perks of retiring in Mexico is the low living costs. You do not need to spend much to live well, and an amount of $800 will get your monthly expenses covered.

Our Team

For us, Lexidy is a way of life and what excites us the most is to be able to deliver the happiness and satisfaction of a successful immigration process. We want to help you achieve your goals and dreams, whether it’s residence in Mexico or simply an investment.