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Temporary resident visa Residencies Plan of Mexico (North America)
Temporary resident visa
The permit is usually issued for 1 year, but it is renewable annually for a further 3 years (3+1), provided that requirements are still met. Prior to its expiration, a temporary resident may apply for a permanent resident permit if he or she has continuously resided in the country for 4 years (i.e. has paid Mexican income taxes).
After 5 years of legal residency, a resident may be eligible for naturalization. To obtain citizenship they must have Spanish language skills and pass a test and interview about Mexican history, culture and values. Nationals of Iberia (Spain and Portugal) or Latin American countries may be eligible for citizenship after 2 years of legal residency.
investment
Business Investor
You may obtain a temporary resident visa in Mexico, if you have at least MXN 1,400,000 (or its equivalent in USD) capital stock shares disbursed in a Mexican corporation, or you are the owner of a company which owns a real estate with a value of at least MXN 1,400,000 or its equivalent in USD, or you perform business activities in Mexico and you have at least three employees.Requirements
- Deed or policy from a Mexican corporation signed before a Commissioner of Oaths, or a document duly certified by the administrative body or a competent officer thereof, stating that you have shares in the capital stock of the Mexican corporation, and that the amount of the investment effectively disbursed for your share in the corporation will exceed MXN1,400,000 or its equivalent in USD, or
- Document proving the ownership of personal property (of a company in Mexico), with a value exceeding MXN1,400,000 or its equivalent in USD, or
- Documents proving business activities in Mexican territory, which could be proven by: contracts, service orders, invoices, licenses and permits, and a certificate issued by the Mexican Social Security Institute proving that you employ at least three workers.
Restricted Nationalities
No nationality is officially restricted
dual citizenship
Dual citizenship is recognized in Mexico. You are not required to renounce your previous nationality to become a citizen of Mexico.
Documents Required
- Original and photocopy of passport
- One passport-size photo
- Bank Statement
- Certified copy of Business License or Incorporation documents
- Documents certifying Business Investment
- dual citizenship Yes
- Family members included Yes
- land ownership Yes
- Physical residence required No
- Personal visit required No
- Language skills required No
- Interview required No
- Investment Single $70,000
- Investment Family 4 $70,000
- Minimum annual income -
- Time to citizenship 60
- Time to permanent residency 48
- Visa-free countries 142
- Financing available No
Mexico
The United Mexican States is a countr located in the southern part of North America. It is the third largest in Latin America, with borders to the north with the United States of America, to the south with Guatemala and Belize, to the west with the Pacific Ocean and to the east with the Gulf of Mexico and the Caribbean Sea. It has an estimated population of 119 million people. Most of them have Spanish as their mother tongue, which the state recognizes as a national language along with 67 other indigenous languages. Its capital and most populated city is Mexico City, with a population of over 9 million, or 20 million when considering the whole metropolitan area. Its official currency is the Mexican Peso, which is the 8th most traded currency worldwide.
- National Flag of:Mexico
- Currency:MXN
- Area Code:52
- Capital:Mexico City
- Continent:North America
- Native Languages:Spanish
- Population:112,468,855
BENIFITS
With your new passport from Mexico you'll be able to access 142 countries visa free
citizenship benefits Visa-free or Visa on arrival to 142 countries including Schengen Area Canada Japan The right to live and work in Mexico at all times and all the rights associated with membership of the Mercosur Low cost citizenship Access to educational and healthcare benefits permanent residency benefits Be eligible for citizenship in a short period of time The right to live and work in Mexico without any time limit Travel visa-free across Mercosur Access to healthcare and education system temporary residency benefits Warm climate Low cost of living Low cost program Travel visa-free across Mercosur Set up a profitable business Potentially profitable investment Be eventually eligible for permanent residencyFEES
| ITEM | AMOUNT |
|---|---|
| processing fees main applicant | $210 |
| total fees main applicant | $210 |
| processing fees spouse | $210 |
| total fees spouse | $210 |
| processing fees dependents -18 | $210 |
| total fees dependent -18 | $210 |
| processing fees dependents 18-25 | $210 |
| total fees dependent 18-25 | $210 |
| processing fees dependents +65 | $105 |
| total fees dependent +65 | $105 |
TAXES
Mexican tax residents are individuals who have established a permanent home in Mexico, or their center of vital interests is in Mexico. Mexico is considered to be the center of vital interests if more than 50% of an individual’s income is obtained from a Mexican source, or Mexico is their primary professional activities place.
Tax residents are subject to taxation on their worldwide income, while non-residents are taxed on their income derived from Mexico.
The personal income tax rate is progressive up to 35% on income exceeding MXN3,000,000. Nonresidents are exempt on their first MXN125,900 and subject to a tax rate of 15% on income between MXN125,900 and MXN1,000,000, and 30% on the excess.
Capital gains are treated as ordinary income, however those derived from the sale of securities listed in the Mexican Stock Exchange are taxed at a reduced rate of 10%. Sale of a main residential property is tax exempt. The exemption is limited to a certain amount and a sale every three years.
Dividends are considered taxable income and also subject to a 10% withholding tax, however a tax credit may apply for corporate tax paid. Dividends received from foreign entities are fully taxable and also subject to the 10% withholding tax.
Interests are included in the tax base, except those derived from certain exempted small balance accounts. Rental income is also taxable under personal income tax, although certain deductions may be available.
Mexico has enacted controlled foreign company (CFC) rules. Profits retained in foreign entities resident of considered tax havens, owned by Mexican tax residents, may be attributable, provided that the taxpayer has effective control of the administration of the investment, or the total amount is more than MXN160,000.
Municipalities levy real property taxes. Tax paid may be deductible on rental taxable income. There is a transfer tax between 2% and 5% on the transfer of real properties.
There are no inheritance taxes, nor taxes on net wealth.
The standard V.A.T. rate is 18%. Food and medicine are usually exempt.
Regarding corporate taxation, resident entities are subject to income tax on their worldwide income at a 30% rate. Capital gains are included in taxable income. Dividends from resident entities are tax-exempt, whereas those from foreign subsidiaries are subject to taxation. Usually a tax credit is available for foreign tax paid.
To learn more about the Mexican corporate legal framework, taxation and tax treaties, check out incorporations.io/mexico.
| TAX ITEM | DESCRIPTION |
|---|---|
| Property tax | Yes |
| Transfer tax | Yes |
| Inheritance tax | No |
| Net worth tax | No |
| CFC law | Yes |
| Tax residency days | - |
| Personal income tax rate | 35% |
| Capital Gains tax rate | 35% |
| Investment income tax rate | 35% |
| Territorial taxation | No |
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