Typical requirements based on 2022 MW (minimum wage) levels:
Temporary Residency: Monthly income of c.US$2,400-$2700 over the last 6 months (some consulates request 12 months); or savings/investment account balance(s) of c.US$45,000over the last 12 months.
Permanent Residency: Monthly income of c.US$4,300-$4500 over the last 6 months (some consulates request 12 months); or savings balance of c.US$180,000 over the last 12 months.
🤑 Qualifying income or savings types:
Income or savings can be demonstrated from multiple sources and accounts, and/or multiple income or savings types. You do not need to have all the income or savings from one source, nor all the income or savings in one account.
Dependent spouse (married couples/common law partners):If you’re applying for residency as a couple, you do not need to demonstrate double the amounts expressed above. Instead, one spouse/partner will need to demonstrate income or a savings balance in the amounts above (as the principal applicant) plus an additional sum of income or savings balance equivalent to 100x daily minimum wage (MW) or UMA for the dependent spouse/partner. See the table above for details about how the ‘multiples’ are applied. If you are legally married, you will need to show your marriage certificate. Common-law partners need to consult with the consulate they apply at to find out what proof of partnership they ask for; requirements vary by consulate.
Dependent children:If you’re applying for residency with dependent children, note that only minor children(under the age of 18 years) can be included on the application as your dependents.
For minor children dependents, you will need to demonstrate income or a savings balance in the amounts above for the principal applicant plus an additional sum of income or savings balance equivalent to 100x daily minimum wage (MW) or UMA for each dependent minor child. Adult children need to apply under the auspice of their own income or savings.
Requirements:✅ You must show the consulate (or immigration office in Mexico) the full and detailed account statements across the entire period required: either six or 12 months preceding the date of your application. Consulates and immigration offices will not accept abridged accounts, i.e., only balances/summaries.
✅ Most consulates will ask to see original documents issued by the bank or investment firm or trust; some might accept internet print-outs (or internet print-outs stamped by a branch of the bank). The consulate at which you intend to apply will need to be consulted if you don’t have original documents. In either case, the names on the account must match precisely with the applicant’s name. If the accounts are not based in the same country where the application is made, they’ll need to be notarized and apostille.
✅ If any of the income or savings/investment accounts that you intend to present as evidence are not in accounts based in the country where you make the application, you must get the full and detailed account statements notarized and apostilled.
✅ Any sources of legally-obtained income will qualify. You must demonstrate a regular monthly income flow over the required period that meets or exceeds the income threshold required. Cryptocurrency accounts are not accepted ❌
✅ You can present monthly income from multiple sources and add these together to qualify. For example, income from investments, house rentals, pensions, and any other legal sources of income can be added together to qualify, if necessary.
What types of accounts qualify as ‘savings/investment’ balance?To demonstrate you meet or exceed the minimum required savings/investment balance, you can use one, some, or all of the following account types:
- cash savings in a bank account(s);
- balances in a 401k (tax-efficient) investment account(s) (or 401k-equivalent if you are not in the USA);
- investments/savings held in a trust fund account(s);
- US applicants: some consulates accept IRAs, others do not.