DON'T Get Residency in Mexico if this is true for you...

[@RockysLife]

I wasn'r convinced at first but you made some solid points. I want to guarantee my entry into MX because I have a bottom ranked passport and live on PR status in Europee, So I need options when the roof falls off

[@SoulEternalPeaceWarrior77]

Hey Nick, thanks for all the great info! Just wondering, if I have a parent who was born in MX (moved to the U.S. later in life) is there any sort of upgrade or fast-track to getting a temporary residence visa? Just wondering if you knew anyone who fit into this category, thanks brother!

[@SoulEternalPeaceWarrior77]

The ultimate goal would be to get a permanent residence card down the road.

[@siobhanshavonbottem4508]

For permanent residency is that proof of $100k per person in a bank account, or couple?

[@NickDemski]

The numbers are for one person, and keep in mind that the financial requirements have gone up. I will update in a part 2 to this video as well, but you can check with the consulate near you for their specific requirements right now

[@jgoodygoods512]

Great video! Too much information encouraging people to "get residency" out there when it absolutely isn't necessary. Question: is it true that when you leave Mexico as a residente you have to "check out" at the airport at some sort immigration office? Thanks!

[@NickDemski]

Agreed 😊 but to answer your question: there’s nothing special you have to do as resident when leaving the country unless you don’t yet have your resident card, then you would have to go through some extra hoops to make sure your residency isn’t cancelled before you get it. But once you have your card, you just leave through immigration as normal

[@wanderingdoc5075]

Permanent residency requirements (Miami consulate) is $214K in a bank account for 12 months. Temporary residency $75K. Requirements have gone up.

[@NickDemski]

Indeed, and they always will.

[@shotelco]

Another great informative presentation! Due to my experience with Malaysian "residency," I think its important to note that: _Things can, and likely will Change._ At any time Mexico, like Malaysia did, may go all Darth Vader: "I Am Altering the Deal, ...Pray I Don't Alter It Any Further." 180 days as a tourist may get cut to 30 on the whim of the government. With that said, Do you think that obtaining citizenship should be the main focus if one is seeking a long(er) term stay in Mexico?

[@NickDemski]

Thanks! I hear ya, it's tough when a gov't decides to use the chokehold from across the room. As for your question about Mexico, they've recently updated (and made more difficult) their residency requirements. And they didn't really warn us about it. So, yes, it's a good idea to aim for citizenship if one would want to avoid any future disruptions like that, but I think it's a good idea in general to get a second citizenship just to have as a backup plan in case SHTF. But Mexico's residency move doesn't indicate to me that they'll pull a Malaysia on their Residents, I think they're just tightening the rules to thin the herd a bit. It'll happen anywhere that realizes it's a popular place for digital nomads and retirees probably...Does your experience with residency in SEA give you a more grim view of things?

[@shotelco]

@@NickDemski Interestingly, the Malaysian MM2H we have had for the past 7-8 years was granted in Sarawak - not in Peninsular Malaysia. The Sarawak MM2H was cheaper, and allowed for living anywhere in Malaysia. We purchased a condo in Johor. As it stands, Sarawak did not materially alter its MM2H like Peninsular Malaysia...so far. But our condo really lost market value. But the thing that is important from this episode is the _Trust Factor._ Peninsular Malaysia MM2H holders had an implicit agreement, and the rug was pulled from under them. In another recent event for me; as you may recall I can relate with your particular situation as my Single Mom left the U.S. in 1969, with me as a child, and moved us to Brazil. I wound up getting Brazilian citizenship (a passport anyway), as well as Portuguese citizenship as Mom re-married a Portuguese gent. Well, just 2 years ago I went to renew my Brazilian passport after it being dormant for over 20 years, and I was told that Brazil no longer recognized my citizenship as valid. They just "Changed their minds" so to speak, based on some arbitrary policy change. Thankfully Portugal renewed my passport. From all this my views have changed. Nomads should not _assume_ things will be like they are now. More and more Countries will clamp down on the residency revolving door. As more and more people from the West flee/abandon the insane asylum(s), as you say - potential host countries will do what Malaysia has done: only allow in the economic cream - and constructively boot out the rest. We had neighbors in our Johor building from New Zealand, their earned NZ social security (NZ Superannuation) is NOT paid to them as expats. With MY "altering the deal", they may be forced to move back to NZ. What happens when the U.S. decides to limit or exclude SS to retirees living abroad? At this point I think everything "Nomad lifestyle" is up in the air. What's your take?

[@mrsdee4800]

In NY consulate $280k $7100mo income. Permanent residency

[@MegaCynical1]

Like your video. I know each consultant differs on their financial requirements for temporary visa application. One thing no one mentions is background checks in the application process. Beyond the financial requirements what else do they consider and what can get you denied even if you meet all the financial requirements?

[@NickDemski]

There’s an interview at the consulate that matters a lot.

[@definitelydaphne777]

Hi, If I marry a Mexican citizen in the US, then move to Mexico to retire does that cancel the income requirement to gain residency ? Thank You

[@NickDemski]

It does not cancel the requirement, but it does significantly reduce the amount needed. As an example, for Temporary Residency, you'd need about 1/3 of the monthly income requirement if you weren't married to a Mexican.

[@ryanmcfall7725]

I am about 15 years from retiring, but would like to get PR. My mother has PR and bought a house in Mexico and I am a co-Owner. Will that come into play covering the financial requirements and aid in pre retirement permanent residency?

[@NickDemski]

Hard to say what the program will look like 15 years from now…

[@ryanmcfall7725]

@@NickDemski so you can’t get PR before retirement?

[@NickDemski]

You can right now. But I just can’t look into the future and guess what the program will be in 15 years, ya know? It could be twice as difficult to get in at that time, or twice as easy, or maybe the program won’t exist at all. I have no idea.

[@texquin]

Just went to the Consulate in Houston, Texas, and was denied Permanent Residency because I am 56, not 64?@@NickDemski

[@texquin]

Just went to the Consulate in Houston, Texas, and was denied Permanent Residency because I am 56, not 64?

[@rotiwokeman]

You didn't mention it as being a good idea if you intend to do property investment. Is that applicable?

[@NickDemski]

You don’t need residency to buy a home in Mexico

[@Tradewithkade]

Are the income requirements for temp residency, if you are a couple who share a bank acct. but are unmarried ? Is it per person? What if you are married? Only one gets social security. Planning ahead. Living in Los Angeles

[@NickDemski]

The financial requirements are per person

[@omarsmusic4316]

I want to get another citizenship someday just don't know where yet. Im American Egyptian and I've lived a large part of my life overseas. Unfortunately the countries I have lived in you can get citizenship but it is very very difficult even if you have lived there for years. So I've thought about moving to other countries in the future just don't know where yet I'm thinking either Belize, Barbados, Ecuador, Argentina,Mexico Canada or New Zealand. Of course I would visit first before I actually decide to live anywhere.

[@sfllouis2117]

I've never heard of the Mexican offices in the US making a INM appointments for Americans, other youtubers have said you need to go in person to make a appointment

[@diegorodriguezsanchez5370]

Hello! Great video! I have a question: What happen if my spouse get the Mexican residency through marriage and we still living the US full time? In advance, I appreciate for your time and all the info you can get me.

[@NickDemski]

Residency is just a legal status. You could theoretically live anywhere with residency ,🙏

[@manueltapia1859]

The residents can pay taxes and have other benefits. In case no residents is like full time vacations and the only person that benefits is the landlord who forced the people who live in the buildings for years or generatiobs to look for another place to live since the higher costs that only the foreigners can afford 😢 believe me Ive seen it.

[@SACREDFlRE]

Don't need to get anything apostilled if you go to the Mexican consulate in your country

[@samtx]

If having temporary or permanent residence mean have to file tax every year or no need if no mexico income

[@NickDemski]

if you're unsure about what taxes you have to pay, you should talk to a tax professional so they can see your situation and give you specific advice

[@samtx]

@@NickDemski thx is it required to file even if no Mexican income

[@umbertovanstaden2651]

Can a PR holder travel to the same visa free countries as a Mexican citizen?

[@NickDemski]

Generally speaking, countries treat traveling permanent residents as they do citizens of said country. I’m not sure if it’s 100% of the time though so u might wanna look into each destination before taking the chance

[@allisa-vi7lp]

2024 requires a lot more than 1K unfortunately

[@NickDemski]

Yeah it’s gotten much tougher since this video was published

[@doomo]

this is totally wishful thinking.

[@NickDemski]

What do u mean