One of the most common permits obtained by Mexican Foreigners is the Resident Pensioner visa (FM3 or FM2). On a previous post the classification of the differences between non-resident, temporary resident, and permanent residents was outlined (See Post). The Resident Pensioner permit (temporary resident) is described as those foreigners who want to live in Retirement in México, subsisting on funds, interest – bearing securities or pensions generated from any country other than Mexico.
Applications for FM-3 and FM-2 can be realized at any Mexican Immigration Office within Mexico, or at any Mexican Consulate. It is also a good note to point out that depending on the office or consulate that you contact, the requirements of documentation for application may vary. But below I have put a list that I consider as … a general starting point.
To obtain a Mexico Resident Pensioner Permit you must submit:
a) an application filled out of your request to change of migration status to Resident Pensioner
b) an official identification (passport) and your FMT visa
c) a letter made out to the National Institute of Migration, outlining your reasons for your request to establish residency in Mexico. (letter must be written in Spanish)
d) a letter from your financial institution or trust demonstrating your income generated from abroad with a yield above $12,500 pesos monthly.
*(some offices may only require bank statements, or monthly statements for 3 consecutive months demonstrating these incomes)
** (for each family member that is dependent, the amount of income will increase by $750 usd per member)
*** (if the non-Mexican has purchased Real Estate in Mexico for residential purposes, the National Institute of Migration may reduce the required monthly income by as much as 50%)
As mentioned above, some requirements may vary depending on the migration or consulate office that you insert your application. Below is an estimated cost to obtain these permits quoted from Quintana Roo and on this date.
$444.00 pesos for the application
$1,172.00 pesos once the applicant has been approved and processed
service fees for the coordination of this document again varies depending on the location and the company offering such services. The service fees may run as low as $250 usd upto $900 usd.
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Thomas Lloyd, Graduate from Purdue University Business School with a degree in Management/Financial Option Investment. With 15 years work experience in Mexico and professional license and degree in Mexican real estate, he is the current president of TOPMexicoRealEstate.