Permanent residency in Mexico for pensioners and Retired

Article 54 of the current Mexican Immigration Law states:

“Permanent resident status will be granted to a foreigner who falls into any of the following cases:

“People that are retired or pensioners who receive from a foreign government or international organizations or private companies for services provided abroad, an income that allows them to live in the country.”

PENSION (Permanent Residence in Mexico for Pensioners)

Pensions are payments received for a specified period of work in accordance with the laws of the country of origin.

In most legal frameworks, these subsidies are usually interpreted as social insurance for occupational risks (such as unemployment, accidents or illnesses) or old age (called “retirement”). And other more special situations, such as disabled people, widows, soldiers, victims of terrorist attacks, etc.

RETIREMENT (If you are retired or preretired and you have income to live in mexico without working)

This process naturally includes a worker’s transition into retirement, getting paid for their work hours, and it all depends on the company or union they work for.

How can I retire in Mexico?

Pensioned or retired foreigners who want to permanently reside in Mexico for retirement purposes can do so by obtaining a Permanent Resident Card in Mexico.

The first step is to obtain a visa at a consulate or embassy outside of Mexico and subsequently obtain the Permanent Resident Card in Mexico.

This option is very attractive for foreigners who want to retire in Mexico, especially in Cancún or Puerto Morelos, as the most popular retirement option among foreigners who want to retire in Mexico.

REQUIREMENTS TO OBTAIN THE VISA FOR PENSIONERS OR RETIRED

• Retire or be pensioned by a foreign government, organization, company or retirement fund.
• Passport (original or copy)
• Complete the visa application form and the consulate will provide you with a visa.
• Take photographs according to the requirements of the consulate.
• Legal documents that prove retirement income.
• Pay the application fee.

IMPORTANT DATA

A person must be recognized as a retired with a visa for a monthly amount of at least $ 5,950 USD (approx). However, it is important to verify with each consulate the amount they request.

If you do not have a monthly retirement equivalent to$ 5,950 USD, it is important, you can apply for another kind of visa to get a Temporary Residence in Mexico.

Or you can present savings or investments, that must be greater than $ 278,000 USD, all the assets you have in any country/region of the world can be added, and you must pass the following test:

• Have documents that prove the ownership of certain properties and obtain economic benefits from them.
• Have enough savings funds that can be verified in financial institutions to live a comfortable life in Mexico.
• Through the above documents, we can demonstrate to the authorities that we have sufficient financial solvency to live in Mexico.

IMMIGRATION PROCEDURES FOR THE RETIRED/PENSIONER VISA

It is suggested to carry out this visa procedure in the country where your investment or retirement documents are located. If this is not done, the embassy must present these legalized and notarized documents.

After receiving the documents, you will go to the embassy to review them. After the certificate is approved, you will obtain a visa, which will be in your passport and can be exchanged for a permanent residence card in Mexico.

Once you obtain the visa, you must bring the translated and notarized documents that you presented during the process to Mexico, as the airport staff will ask for them, if you do not present these documents, you will be denied entry into the country.

Once you have passed the filter, you will receive several forms valid for 30 days, which can be sent to the National Immigration Office to exchange your visa for a permanent residence card.

IMPORTANT

Renewal is carried out every four years to avoid problems in the future. In addition, it is recommended that you use the permanent resident card to seek naturalization titles after the fourth year, since due to age, you will not have to take any exams and your accommodation will be quieter.

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