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hello everyone ltis last Mor from the wanderingintherain get citizenship so Serge what are the the ways to obtain temporary residency here in Mexico apart from the usual getting married and blah blah all these things how do you get temporary residency in Mexico nowadays yeah the fastest way that you have like option for visa for Financial Security people it's uh the name of this Visa solven economica solven economy when you have income or savings income should be not less for the next year 2024 like $4,400 and savings should be not less than about $74,000 uh in total uh for the last 12 months for the savings and what about for the income also do you need to show these $4,000 per yes per month for the last six months monthly six months monthly okay yeah yeah it's the way for the temp resident card so what do you get you get a what a 2 year three year five year no you you will get first of all the Resident visa on your passport then you have like 180 days for the entrance to Mexico in half an year you need to come and we change this resident visa to Temp residence card for one year okay then for the next year we can renew it and sometimes it's possible to renew for 3 years after four years in total for the fifth year we renew it again again for the permanent residence and permanent residence it will be for the whole life it has an expiration date and Next Step it's the citizenship that means from the tourist till the citizenship it takes in total like five years okay so let's say you help me get residency I come here you give me the one-year residency can I then just leave for as long as I want yes I don't need to be in Mexico that whole time when I come back after a year we have no any law any like rules that you should stay here you should live here you can come again like one month before the expiration date of the tempor resence card and we can start the process to renew it for the next one okay so essentially you get temporary residency uh you need to have it for four years after four years you upgrade to permanence and then after 5 years of total residency both temporary and permanent um you can apply for citizenship yes okay that's correct clear this is why mexic is really interesting because it's one of the few countries where you can really get a a paper residency which means that you have residency but you don't actually have any or much physical presence requirement so you can have it as a back pocket residency as a plan B residency which is a great call option in the future you can work towards the citizenship and again to be able to apply for citizenship I think you need to spend a certain amount of time in Mexico so it's not like it's completely paper and you get citizenship yeah you need to stay here the last year with the temp residence it's like fourth year and first year with the permanent residence okay last 2 years before you obtain for the Mexican citizenship you need to stay in Mexico and during these two years you have just like 180 days for traveling you can go outside the Mexico okay in total 180 days half in a year and if you will follow these uh requirements you will pass an exam and then you will wait uh till they will give you this literalization letter perfect so this is really interesting so essentially you start by doing the paper residency and once you've done essentially five years of residency in Mexico then you have that call option where you just need to say I'm moving to Mexico I'm going to spend 18 out of 24 months and that'll get me citizenship so it's really a call option on citizenship so what about people who want to try to get permanent residency immediately because one way and we've done quite a lot of content on this is to give birth in Mexico but that's not the topic of this video if you're interested in this there's another video on this um but what are the other ways to obtain permanent residency immediately in some Mexican consulates they have this program they name this program like pension program or retiring program but I had some clients 34 36 38 years old they just demonstrate like enough savings on the bank's accounts on the broker account and so brokerage account as well yes they can stocks or cash it doesn't matter I think that they accept both you just need to like print the proof of your account is this valid as well for the temporary uh residency so if you show that you have $100,000 on your interactive brokers account as I know yes the same way uh but uh for the next year for the permanent residence if will show income it should be not less than $7,400 us approximately depends by the currency rate and if we will show savings it should be not less than $300,000 us on the and it's the same thing savings is past 12 months and income is past 6 months yes but for income it's more strict because it should be like pension passive income okay but for the savings it's not a problem because it's like your savings in in your account what about a salary depends by the consulate but I think with the salary it's not possible because it's like a pension program that means that you you don't need to work you just have passive income monthly Okay cool so essentially that would just get you temporary residency if you have a salary uh but it wouldn't be good enough to get permanent residenc immediately that's correct and I think this is really important to to discuss is that Mexico has very different implementation of laws depending on the consulates and embassies so it's not like Germany where the rules are going to be the same for every single Embassy in across the world in Mexico with Mexican embassies and consulates it really depends like if you apply in Cambra or you apply in New York or in Houston the rules are going to be different and that's also why you need experts like Sergey who can help you not waste time and go and apply at the right spots yeah because it changes all the time it's very Dynamic you just need a an ambassador a conso that changes and then boom the interpretation changes as well um what about for Real Estate Investors for Real Estate Investors we have option like investment Visa it's the same resident Visa if you will buy a property by your own name I think for the next year it should be not less than 600,000 us cool so that's a nice property yeah and if you will open a company by your own name and then you will buy property by a company's name it can be twice less $300,000 us okay so again I find that this investment Visa is a bit useless because if you can afford to buy a villa for $600,000 you probably had that cash in your bank account anyways so you might as well go straight to permanent residency if you're older Etc so it sounds good on paper in reality very few people actually go for it I think yeah yeah that's correct great so what about so let's say you help me get residency what about my spouse my children how does that work do they get it automatically is it a different process yeah we have two options the first option we will start the process outside the Mexico and Mexican consulate the same way uh in this case you can start the process in the same time like for you that means that all the family members can get the same Visa at the same time and you come withhold your family to mexic and here we start the process for all the family the second option that firstly you will get your residence then you can start the process inside the Mexico or outside the Mexico if we will start the process outside the Mexico we just need to show the relationship between you and your kids between you and your wife it can be marriage certificate it can be birth certificate of your kids where we put your name and where we can show this relationship or if you come with your family you will come like a resident your family come like a tourist and we can make the same process inside the Mexico okay so it really depends on people's preferences yeah okay fantastic thank you very much Sergey so if you are interested in obtaining residency in beautiful Mexico there is a link below with more information on the process and also on serg's fees and how he can help you from A to Z to get that plan b or even plan a because Mexico really is beautiful you went through the whole process yourself and you are now a Mexican citizen right yeah that's correct so he knows what he's talking about he went through the process himself all right Sergey always a pleasure thank you make sure to download my free ebook 12 mistakes to avoid when investing in international real estate which you can find on my website link below and feel free to follow me on Instagram at the wandering investor I look forward to hearing from you