These new rules come as a result from earlier legislation that placed all Mexican visas into only three categories. The first main change to the legislation is that there are lower financial thresholds, which means that all visa applicants (visitor visas, temporary resident visas, and permanent resident visas) who are not paid by a Mexican entity have greater flexibility in terms of proving their economic soundness. The lower financial thresholds refer to either an average monthly income or an average monthly bank balance. The minimum average monthly income for visitors (including business visitors staying less than 180 days) has since been reduced by one-third and the average monthly bank balance has been reduced by 40%. Average monthly income requirements has been lowered by 25% for temporary resident applicants. Additionally, the average monthly bank balance for these applicants has been reduced by 75%. The average monthly income has not changed for permanent resident applicants. However, the threshold for average monthly bank or investment account balances for permanent residents has been lowered by 20%. Additionally, the period of demonstrating financial soundness has been shortened: visitors must demonstrate their adherence to the financial threshold only for the previous three months.
Another major change consists of a change to those eligible to apply for temporary resident visas. Foreign nationals may apply on the basis of an international agreement on the mobility of persons if the home country has signed an agreement with Mexico. This change is expected to benefit those who are not remunerated by a Mexican entity and who do not otherwise qualify for temporary resident visas. A letter will be requested from the applicant citing the applicable international agreement.
Longer deadlines have also been granted to foreign nationals applying for work authorization as a remunerated worker of a Mexican entity. These individuals now have 30 business days to contact the consular post for a visa interview.
Foreign students who are temporary residents are now permitted to apply for dependent family members to join them in Mexico as temporary residents. It should be noted that these individuals cannot apply for permanent residency on the grounds of having regular and continuous residence in Mexico for four years.
Please note that this is general information only and not intended as advice on a specific matter. Please feel free to contact Fakhoury Global Immigration directly with questions exclusive to your situation. This news alert may have been prepared using information from Peregrine Immigration Management, which is licensed to Fakhoury Global Immigration.