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PV Real Estate 

Buying Property in Mexico: Which Visa is Right for You?

November 17, 2020

Temporary Residency Visas are for those that want to stay in Mexico for more than 6 months, but less than 4 years, while Permanent Residency Visas allow foreigners to stay in Mexico permanently.
Puerto Vallarta, Mexico - If you are purchasing a home in Puerto Vallarta or the surrounding region, Mexico's immigration policy is something you will need to think about to consider which sort of visa will best suit your needs.

To help, we have a brief overview of the different types of Mexican visas for which you can apply and what the requirements are for obtaining each.

Visitor's Permit
Called an "FMM," this tourist card will allow you to enter and stay in the country for up to 180 days as a visitor. The visitor's permit is issued when you arrive in Mexico by land, air or sea, and costs approximately $25 USD, though that charge is automatically included in the price of your airfare. Americans, Canadians and many other nationalities do not need to apply in advance for a visitor's permit and you can be issued multiple visitor's permits for several short term stays, as long as you do not remain in Mexico more than 180 days in a calendar year.

Temporary Residency Visa
This visa is for those that want to stay in Mexico for more than 6 months but less than 4 years total. The application process begins at the Mexican consulate located in your home country and then is completed in Mexico. Currently, to apply, a foreigner must show approximately $32,500 USD held in a bank account or investments for the previous twelve months or show monthly income of approximately $1,950 USD for the previous six months. With a temporary residency visa, you have the ability to also apply for a work permit.

Permanent Residency Visa
This visa allows you to stay in Mexico permanently. The application process also must begin in your country of origin and to apply, a foreigner must show approximately $130,000 USD held in a bank account or investments for the previous twelve months or show monthly income of approximately $3,250 USD for the previous six months. Permanent residents are able to work in Mexico without needing to apply for a work permit.

The information provided above is current at the time of publication but is subject to change. You can learn more about how to apply for a residency visa HERE, including what documents will be required and the full application process.

Click HERE for more Puerto Vallarta real estate and lifestyle tips from Tropicasa Realty.

Since 1997, Wayne Franklin and his team at Tropicasa Realty have been a trusted name in Puerto Vallarta real estate. Tropicasa Realty is the region's representative for "The Leading Agents of the World" and with over 100 years of combined experience in real estate, all agents of the company are affiliated with AMPI. Wayne Franklin or any member of his knowledgeable team can be contacted in-person at their Romantic Zone Office - Pulpito 145-A at Olas Altas. While in PV they can be reached at (322) 222-6505 or by calling 866-978-5539 (Toll-Free) from the U.S.
Click HERE to learn more about Tropicasa Realty, or visit tropicasa.com.