Temporary Residency Visa

This visa is designed for foreigners who intend to stay in the country for more than 180 days and up to four years. The temporary resident card will only be granted for one year. After the first year, temporary residents can apply for one, two or three years renewal of the temporary resident card.

Depending on the category you wish to apply under you will submit the following information. Check with the consulate in the state you plan to apply in as the exact dollar amount may be different from state to state and fluctuate with the exchange.

• Real Estate Owner in Mexico:
  • Original and copy of Deed executed before a notary public attesting that the foreign person owns property with a value in excess of $227,000 CD/$174,000 USD.

or

• As an Investor:
  •  Documentation of the Mexican entity executed before a Notary Public, or document duly certified stating that foreign person participates in the capital of the Mexican corporation. Also provide proof that the investment amount exceeds $113,500 CD/ $90,000 USD which may be furnished by contract for the sale of stocks or shares, property or rights for the Mexican entity or document certifying the latter amount contributed by way of participation in the share capital, original and copy issued; or
  •  A document certifying the ownership of chattels for the foreign legal entity, with a value in excess of $ 113,500 CD/$90,000 USD, in original and copy; or
  •  Documents which support the development of economic or business activities in Mexico, which may be credited, declarative but not limited to, contracts, service orders, invoices, receipts, business plans, licenses or permits. Also provide a certificate issued by the Mexican Social Security Institute stating that the foreign person’s employer has at least five workers, original and copy.

If you do not wish to have investments in Mexico you may apply under:

• Financial Solvency:
  • Provide the original and copy of proof of investments or bank accounts statements showing an average monthly balance of $32,000.00 Canadian dollars/ $25,000 USD during the last twelve months;

or

Provide the original and copies of documents proving employment or pension tax- free with a monthly income by an amount greater than $1,900.00 Canadian dollars/$1,500 USD during the past six months.

Photo: Agency

The Application Process is completed in two steps:

The process begins with an interview at a Mexican Consulate outside of Mexico and finalized in Mexico by doing something called canje (exchange) at the INM (Instituto Nacional de Migración)

Total time of this procedure is approximately three months in the Riviera Maya; other states may have a different wait time.

Requirements:

• Printed application visa form, on both sides, duly completed and signed.
• Passport or identity card and valid and current trip, original and copy of the page where the photo and personal data appears.
• A small photograph with unveiled face, without glasses, front, colored with white background.
• Payment of fees in cash for the issuance of visa.

Exchange (CANJE)

• Original and copy of passport
• Original and copy of visa
• Proof of address
• Two front and one right profile photos ( 2.5×3.0 cm, white background, uncovered forehead, no earrings, no necklaces, without smiling)

Benefits of Temporary Residency:

• Temporary Residency allows the holder to get a registration number called CURP    ( Clave Unica de Registro de Poblacion).  CURP holders are permitted to open bank accounts, legally register a car, possibly avoid paying capital gains tax on the future sale of a Mexican home, plus other benefits.

Important to Know:

While your visa is in process and you enter Mexico with pre-authorized visa, you need to remain in the country for a minimum seven business days before requesting permission to travel. Leaving without permission will cancel your visa.

If you have questions about Immigrating to Mexico, contact vela.a@mexlaw.ca

The post Qualify for a Temporary Residency Visa by Investing in Mexico appeared first on MEXLAW.

This show offers a wide variety of information and Seminars. Whether the assistants interest lies in resale or new residential homes, condominium or vacation property. If its real estate services or if the public is just looking to increase their real estate portfolio-The Property Show is sure to deliver.

The Property Show`s mission is to provide educated, real estate focused guidance for anyone who is interested in or already involved in property investment. This show provides a unique opportunity for novice and expert members of this community to fuse together in a professional and informative environment.

The Property Show generated more than $ 10 million in business last year..
This year, for the first time thanks to the idea of the Canadian law firm MEXLAW, Mexican developers will be able to present their products, enjoying MEXLAW legal coverage for its operations with international clients.
What are the advantages of participating in The Property Show?

• Expand your business internationally
• Exhibit products and services to wealthy and motivated Canadian investors
• Reach a target market with 1,500 potential customers and potential investors, 100% qualified and with high purchasing power.
• Count on the Canadian law firm MEXLAW in Mexico to give the Canadian investor full legal certainty
• Get to know speakers, authors and experts who will present investment advice to a motivated audience.
• Connect and network with international developers and real estate professionals.
• Your company will appear in all social networks and media advertising in Toronto before the show.
• Network with Canadian real estate agents willing to work with Mexican products and get full legal coverage in Mexico and Canada through MEXLAW.

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Mexico has a complete legal policy on immigration, which is primarily regulated by the Migration Act and the General Population Act, among other laws, affecting both Mexicans and foreigners.

In this newsletter, we will focus on explaining the different methods by which foreigners wishing to visit, either for tourism, business, retirement, work, study, or for those seeking permanent residency in Mexico or Mexican citizenship

Firstly, we look into the classifications of a foreigner in Mexico:

a. Non-immigrant: this is a person who, with the permission from the Ministry of the Interior, enters a country temporarily either as a: (i) tourist; (ii) trans-migrant; (iii) visitor; (iv) religious minister; (v) political asylum; (vi) refugee; (vii) student; (viii) correspondent.

b. Immigrant: this is a person who is legally in the country with the purpose of settling there, and will become a migrant: (i) an annuitant; (ii) an investor; (iii) a professional; (iv) a person in a trustworthy work position; (v) a scientist; (vi) a technician; (vii) family members; (viii) an artist and athlete; (ix) a freelancer .

c. Migrant: this is a person who acquires the rights of permanent residency in the country.

The type of permit (visa) assigned and granted by the Ministry of the Interior depends on the reasons for which the foreigner seeks to enter and remain in the country, which include the following:

a. Visitor Visa WITHOUT permission to participate in income generating activities. It allows the foreigner to remain in the country for no more than 180 days consecutive days from the date of admission. This visa is automatically granted to tourists entering the country;

b. Visitor Visa WITH permission to participate in income generating activities. This authorizes the foreigner to remain in the country for no more than 180 days consecutive days from the date of admission.

c. Visitor Visa for adoption proceedings. This authorizes the foreigner who is following an adoption process in Mexico to remain in the country until the time in which the adoption proceedings have been resolved, the adoptee is registered in the Civil Registry as well as receiving a passport and all the necessary paperwork has been issued which guarantees that the adoptee is able to leave the country.

d. Temporary Resident Visa. This authorizes the foreigner to remain in the country for a period not exceeding four years. The applicant is entitled to carry out specific activities either for profit or nonprofit, depending on the classification of the visa. The foreigner must also prove that they have sufficient funds to stay in the country and/or have a steady income.

e. Temporary Resident Student Visa. This authorizes the foreigner to remain in the country for the duration of the academic course they have attested they will be completing in an educational institution that is within the national education system.

f. Permanent resident visa. This authorizes the foreigner to remain indefinitely in the country. This visa will be granted when the applicant fulfills any of the following circumstances: (i) political asylum; (ii) the right to preserve the family unit; (iii) pensioners who receive a pension from a foreign government and which allows them to live in the country; (iv) four years have passed since the foreigner has had a temporary resident visa (two years if they are legally married to a Mexican spouse or the spouse has permanent residency); (v) when the foreigner’s children were born in Mexico and were nationalized at birth; (vi) for being the lineal descendant to the second degree of a Mexican by birth; and (vii) by decision of the National Migration Institute.

Visitors, except those who are in the country for humanitarian reasons and who have links with a Mexican or a foreigner with permanent residency in Mexico, will not be able to change the conditions of their stay and will have to leave the country once they have completed their full period of authorized residency.

Temporary and permanent residents have a period of thirty calendar days from the date of admission into the national territory in which to negotiate with the Institute for the corresponding residency card, which will then remain in effect for the designated time period of stay. With this card, the regular migration status in the national territory will be authorized while it is in effect.

Additionally, the foreigner will have certain obligations, such as: (i) register with the National Register of Foreigners; (ii) notify the National Migration Institute any changes in their immigration status (such as marital status, nationality, home address, place of work) within 90 days of any such change.

You can apply for your visa in person or hire a representative for advice who can apply on your behalf and do all the paperwork.

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