These changes apply to visas issued at Mexican consulates outside Mexico. It is assumed that there will be a publication soon applicable to people renewing within Mexico to harmonize the new lower financial requirements.
Reduced income requirements for temporary residence, new income/asset requirements:
1. Balances in bank of 5,000 days minimum wage (67.29 pesos) $336,450 pesos or $25,164US, down from old minimum of 20,000 days minimum wage or $1,345,800 pesos or $100,658US at todays exchange rate.
2. Monthly income 300 days minimum wage (67.29 pesos) $20,187 pesos or $1,510US down from old minimum of 400 days or $26,916 pesos or $2,013US
Permanent residents have same income requirements but lower asset requirements:
1. Balances in bank 20,000 days minimum wage (67.29 pesos) $1,345,800 pesos or $100,658US down from old requirement of 25,000 days minimum wage or $1,682,250 pesos or $125,822US using todays exchange rate.
These changes should allow more foreigners to enter as temporary residents and start a small business as one needs their immigration document to be able to get CURP and RFC numbers to be able to set up a business.
The changes also talk about requiring apostilles and translations for documents used at consulates but then also mentions the point system for permanent visas, so hopefully they publish it soon. Another publication should be forthcoming to integrate the changes published for the consulates for the practices with Mexico by immigration so that those within Mexico can take advantage of the new lower limits.
The changes were published in the Diario Oficial on Friday October 10, 2014 and take effect 5 business days after publication, Friday October 17, 2014.
[readon1 url="http://yucalandia.com/2014/10/10/more-changes-to-mexican-immigration-law-coming-october-17-2014/"]Source:yucalandia.com[/readon1]
HUGE Changes to Mexican immigration law
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