How to Get a Mexico Retirement Visa

Foreigners who want to live permanently in Mexico for retirement can do so by getting a Mexican Permanent Resident Card. To obtain a Permanent Resident Card, all expats must first apply for a Permanent Resident Visa, and then convert it into a Mexican Permanent Resident Card.

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Are you an expat looking to retire and settle down in Mexico? Wondering how to obtain the necessary visas and permits? Want to know the best retirement destinations in Mexico?

This Pacific Prime article will give you a comprehensive guide on how to get a Mexico retirement visa as a foreigner, how much it costs to do so, the best places to retire in Mexico, and why you should secure international health insurance in Mexico.

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How to Apply for a Mexico Retirement Visa

Image of Scenic View Of Morelia, Mexico with text overlay of "How to Apply for a Mexico Retirement Visa"

To apply for a Mexico retirement visa, you must provide proof of monthly income between USD 4,300- USD 4,500 over the past six months or USD 180,000 in savings over the past year.

Submit this along with a cover letter, pension/investment statements, and other documents to the Mexican embassy. If approved, use the visa to enter Mexico and convert it to a Permanent Resident Card within 30 days.

Thus, foreigners who want to settle in Mexico permanently must have a Mexican Permanent Resident Card. This is a popular option for retirees, as it is issued after they obtain the Mexico Retirement Visa prior to moving to Mexico.

Requirements for Mexico Retirement Visa Application

If you are applying for a residence permit to retire in Mexico, you are required to submit a set of documents. This includes a formal cover letter and supporting evidence related to your finances, pension, investments, dependents, and travel plans.

Below are the required documents:

A formal cover letter addressed to the Mexican embassy, clearly stating the reason for your visa request and providing details such as:
- Your full name
- Your passport number
- Information about your pension (source and amount)
- Investment details (if applicable)
- Your intended address in Mexico
- Your current address in your home country
- Your intended travel date
- Your port of entry into Mexico

Bank statements from the previous six months as proof that you have been receiving a consistent monthly pension income (the minimum amount may vary across countries, but it typically ranges from USD 2,000 to USD 3,000)
If you have investments, you must provide bank statements from the last twelve months as evidence
If you have dependents coming with you, you must demonstrate an additional 25% of your monthly income to cover their expenses and include proof of familial relationship (such as birth certificates or marriage certificates)

Application Process for Mexican Permanent Residence Visa

The application process for obtaining a Permanent Resident Visa for Mexico involves the following steps:

Contact the Mexican embassy in your home country to schedule an appointment for your visa application.
Obtain and complete the Mexico Visa Application Form, which can be found on the embassy’s website or collected from the embassy grounds.
Gather all the required documents mentioned above.
On the date of your appointment, submit your application, pay the applicable visa fee, provide biometric data (such as fingerprints), and potentially attend an interview.
Wait for your application to be processed by the embassy.
Once your application is approved, collect your passport with the visa affixed to it.

After obtaining your Permanent Resident Visa, you can use it to enter Mexico, where you will then be required to convert it into a Mexican Permanent Resident Card at the National Immigration Institute (Instituto Nacional de Migración).

Mexican Permanent Resident Visa Processing Time

The processing time for a Mexican Permanent Resident Visa can vary across different embassies, ranging from one week to as long as one month.

Therefore, we advise you to submit your visa application at least one month before your intended travel date to Mexico for sufficient processing time.

How to Apply for the Mexican Permanent Resident Card

To get the Mexican Permanent Resident Card, you’ll first need to apply for a Permanent Resident Visa at the Mexican embassy in your home country, specifying your intention to retire in Mexico.

Once you arrive in Mexico with the Visa, you must then convert it into a Permanent Resident Card within 30 days at the National Immigration Institute (Instituto Nacional de Migración). It is this card, not just the visa, that allows long-term residency.

If you already have a Temporary Resident Card and have been living in Mexico for four years, you can apply to change it to a Permanent Resident Card at least 30 days before your current card expires.

Requirements for Mexican Permanent Resident Card Application

To qualify for a Mexican Permanent Resident Card as a retiree, you’ll need to meet several requirements related to your retirement status, financial means, intended residency, and income sources.

The specific requirements are:

Being fully retired in your home country.
Having enough financial resources to live comfortably in Mexico
Planning to live permanently in Mexico solely for retirement purposes, without engaging in any income-generating activities within the country
Not benefitting financially from sources of income located within the Mexican territory

Converting the Permanent Resident Visa into a Mexican Permanent Resident Card

Once you arrive in Mexico with the visa, you must then convert it into the actual Permanent Resident Card within 30 days. It is this card, not just the visa, that allows long-term residency.

If you already have a Temporary Resident Card and have been living in Mexico for four years, you can apply to change it to a Permanent Resident Card at least 30 days before your current card expires.

Mexican Permanent Resident Card Processing Time

Converting the visa to the Permanent Resident Card at the National Immigration Institute (Instituto Nacional de Migración (INM) takes approximately 10-15 working days from the date of the submission of the documents.

All in all, the entire process, from visa to card, can take around three to four weeks in total once you’ve arrived in Mexico.

The Costs of Retiring in Mexico

When applying for either a temporary or a permanent resident visa, you’ll need to pay a USD 51 fee in cash to the Mexican consulate abroad. Additional fees are due when you receive your visa at the National Immigration Institute (Instituto Nacional de Migración) in Mexico.

For a Temporary Resident card, the initial one-year card costs 5,108 MXN (approx. USD 250). Renewals for additional 1-3 year periods range from 7,654 MXN (approx. USD 375) for 1 year to 11,488 MXN (approx. USD 560) for 3 years.

If you wish to stay in Mexico beyond the four-year temporary residency period, you must apply for permanent residency. Converting to permanent residency requires a fee of 1,632 MXN (approx. USD 80), plus 6,226 MXN (approx. USD 305) for the Permanent Resident card.

The cost of obtaining Mexican citizenship after qualifying residency periods is currently 8,395 MXN (approx. USD 410).

All fees within Mexico must be paid in cash at a designated bank, which will provide a receipt for submission to immigration authorities. Citizenship fees are paid online.

Fees are subject to change, so we advise you to research the latest fees before initiating the residency or citizenship process.

The Cost of Living in Mexico

In Mexico, living expenses are quite affordable compared to its neighbors. Dining out can range from around USD 16 for a meal at an inexpensive restaurant. Transportation costs can go as low as USD 1.10 per ride, and phone bill utilities can cost as low as around USD 125 monthly.

Here is a quick summary of the general costs of living in Mexico for expats and retirees:

Dining Out Costs:

- Meal, Inexpensive Restaurant: 164.62 MXN (approx. 16 USD)
- Meal for 2 People, Mid-range Restaurant, Three-course: 700.00 MXN (approx. 69 USD)
- McMeal at McDonald’s (or Equivalent Combo Meal): 150.00 MXN (approx. 15 USD)

Domestic Beer (0.5-liter draught): 45.000 MXN (approx. 4 USD)
Imported Beer (0.33-liter bottle): 72.50 MXN (approx. 7 USD)
Cappuccino (Regular): 56.62 MXN (approx. 5.50 USD)
Coke/Pepsi (0.33-liter bottle): 22.23 MXN (approx. 2 USD)
Water (0.33-liter bottle): 16.37 MXN (approx. 1.60 USD)

Grocery Costs:

- Milk (regular), (1 gallon): 100.89 MXN (approx. 10 USD)
- Loaf of Fresh White Bread (1 lb): 42.03 MXN (approx. 4 USD)
- Chicken Filets (1 lb): 62.94 MXN (approx. 6 USD)

Apples (1 kg): 49.62 MXN (approx. 4.80 USD)
Banana (1 kg): 24.45 MXN (approx. 2.40 USD)
Oranges (1 kg): 30.09 MXN (approx. 3 USD)
Tomato (1 kg): 30.26 MXN (approx. 3 USD)
Potato (1 kg): 35.46 MXN (approx. 3.50 USD)
Onion (1 kg): 30.20 MXN (approx. 3 USD)

Transportation Costs:

One-way Ticket (Local Transport): 11.00 MXN (approx. 1.10 USD)
Taxi Start (Normal Tariff): 50.00 MXN (approx. 5 USD)
Gasoline (1 gallon): 90.17 MXN (approx. 9 USD)
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car): 389,000.00 MXN (approx. 38,000 USD)
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car): 408,430.58 MXN (approx. 40,000 USD)

Utility Costs:

Basic Utilities (Electricity, Heating, Cooling, Water, and Garbage Collection) for 915 sq ft Apartment: 1,210.08 MXN (approx. 125 USD)
Mobile Phone Monthly Plan with Calls and 10GB+ Data: 433.00 MXN (approx. 42 USD)
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL): 517.50 MXN (approx. 50 USD)

The Best Places to Retire in Mexico

There are numerous appealing cities and destinations in Mexico that attract retirees from all corners of the globe. From the vibrant Mexico City to the charming town of Oaxaca, you’ll be spoiled for choices when it comes to choosing where to settle down in Mexico.

However, we’ve picked out a few stand-out choices for you to choose from:

Ajijic, Lake Chapala

With an estimated expat population of 20,000, Ajijic, a small town on Lake Chapala, hosts one of Mexico’s largest expat communities. It is popular for its lively town festivals, year-round temperate climate, and breathtaking mountain views.

Retired couples living in Ajijic can live comfortably with monthly expenses ranging from USD 1,800 to USD 2,000.

San Miguel de Allende

San Miguel de Allende boasts charming colonial architecture, cobblestone streets, an “eternal spring” climate, and mesmerizing sunrises and sunsets.

A couple’s monthly expenses in San Miguel de Allende generally total around USD 1,700.

Mérida

Located along the Yucatán peninsula, Mérida is one of the safest cities in Mexico for expats. The city boasts white stone buildings, ancient Mayan ruins, and stunning natural sinkholes called cenotes.

A retired couple can expect to spend around USD 1,600 USD per month for living expenses in Mérida.

Puerto Vallarta

The resort town of Puerto Vallarta is a popular destination for tourists and retirees alike, renowned for its beaches, welcoming community, and captivating art galleries.

Retired couples can expect to spend between USD 1,500 to USD 2,000 per month to live comfortably in Puerto Vallarta.

The Importance of Health Insurance For Retirees in Mexico

Image of Retirees Sitting In A Park In Mexico with text overlay of "The Importance of Health Insurance For Retirees"

For retirees who are planning to relocate to Mexico for retirement, securing health insurance is an essential prerequisite, as it serves as a vital safety net, offering peace of mind, financial security, and access to high-quality medical care.

Among the key advantages of health insurance for expats and retirees in Mexico are:

Access to Quality Healthcare: With health insurance, retirees gain access to a wide network of reputable medical facilities, hospitals, clinics, and specialists, ensuring they receive top-notch medical attention.
Emergency Assistance: In case of medical emergencies, policyholders can rely on 24/7 helplines and support from their insurance provider, including coordination of emergency evacuations and guidance on local healthcare facilities.
Comprehensive Coverage: Health plans provide extensive coverage, including doctor consultations, hospitalization, surgeries, laboratory tests, prescription medications, and emergency services, shielding retirees from potentially crippling medical expenses.
Language and Cultural Support: For those unfamiliar with the local healthcare system or the Spanish language, health insurance offers translation services, facilitating effective communication between patients and healthcare providers.
Personalized Care and Flexibility: Retirees have the freedom to choose their preferred healthcare providers, hospitals, or clinics, including private facilities offering shorter waiting times, English-speaking staff, and personalized care.
Additional Benefits: Some plans may include added services like preventive care, wellness programs, mental health support, and coverage for pre-existing conditions.
Peace of Mind: Perhaps the most significant advantage, health insurance provides expat retirees with invaluable peace of mind, knowing they are covered for healthcare costs arising from accidents or illnesses.

Let Us Help With Your Retirement in Mexico

For retirees looking to enjoy an affordable and relaxed lifestyle, Mexico presents itself as an attractive retirement destination. However, the process of relocating and settling down abroad requires thoughtful planning and preparation.

From understanding the visa and residency requirements for retirees to researching the ideal city that aligns with your desired retirement lifestyle, carefully considering each aspect is crucial.

While the prospect of retiring in Mexico can be enticing, it’s best to secure comprehensive health coverage to fully enjoy your retirement years without worrying about incurring potential medical expenses.

This is where Pacific Prime can be your invaluable partner. With over 20 years of experience as a globally renowned health insurance broker, we specialize in tailoring affordable and customized solutions that meet the unique needs of expats and retirees in Mexico.

Compare quotes for free, or contact us today for a smooth transition to retirement in Mexico.

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Frequently Asked Questions

How long can I stay in Mexico if I buy a house?

The “Temporary Resident Visa” is recommended for those who choose to own property in México. After four years it can be converted into a “Permanent Resident Visa”. This visa allows you to stay in Mexico for as long as you like without restriction on foreign travel.

Do I have to pay taxes in Mexico as a permanent resident?

Resident individuals are subject to Mexican income tax on their worldwide income, regardless of their nationality.

How long can you stay in Mexico without residency?

Although visitors can potentially enter Mexico for a maximum of 180 days, the immigration officials will decide the maximum period of stay in Mexico for all international visitors, based on the documents that visitors provide regarding their intended activities in Mexico.

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Serena Fung

Head of Content at Pacific Prime

Serena Fung is the Head of Content at Pacific Prime, a global insurance brokerage and employee specialist serving over 1.5 million clients in 15 offices across the world. With 6+ years of experience writing about the subject, she aims to demystify the world of insurance for readers with the latest updates, guides and articles on the blog.

Serena earned her Bachelor’s Degree in Psychology from the University of British Columbia, Canada. As such, she is an avid advocate of mental health and is fascinated by all things psychology (especially if it’s cognitive psychology!).

Her previous work experience includes teaching toddlers to read, writing for a travel/wellness online magazine, and then a business news blog. These combined experiences give her the skills and insights she needs to explain complex ideas in a succinct way. Being the daughter of an immigrant and a traveler herself, she is passionate about educating expats and digital nomads on travel and international health insurance.