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The OP wrote that his father was interested in living in Mexico for a few years. I did not read that he was planning to purchase property and he will be living in an area that is fairly close to the border. Most of the expats I know of who have moved back to their home countries did so because of age and family, not because they didn't like living in Mexico. Some with low incomes couldn't afford to live in Mexico.
Don't you think US$400 per month is a very low income?
I really don't know, for me is very low, but you have more experience, that's why I ask.
Move some of your savings $1000 each month to the checkings account for three months and them move them back. Bring only checking account statement and your fine... I know for sure (hint hint)
Move some of your savings $1000 each month to the checkings account for three months and them move them back. Bring only checking account statement and your fine... I know for sure (hint hint)
That was the sort of info I was looking for thanks.
Don't you think US$400 per month is a very low income?
I really don't know, for me is very low, but you have more experience, that's why I ask.
The point of the $400 income wasn't to say this is what he lives off. There are millions in his situation now or soon will be, and people retired officially and looking to spend time in Mexico or elsewhere. It is a great target market if Mexico wants it, but letting them do small jobs to keep busy or for social purposes will be important to many so they best consider how competitive they are if they block any way for them to work.
Move some of your savings $1000 each month to the checkings account for three months and them move them back. Bring only checking account statement and your fine... I know for sure (hint hint)
Immigration in some Mexican states is asking for a letter from the bank saying where the money comes from, SS checks or other sources, because so many have done this. The banks on the other hand are not cooperating too well. Mexico is aware of people shifting funds temporarily and is trying to stop it.
The point of the $400 income wasn't to say this is what he lives off. There are millions in his situation now or soon will be, and people retired officially and looking to spend time in Mexico or elsewhere. It is a great target market if Mexico wants it, but letting them do small jobs to keep busy or for social purposes will be important to many so they best consider how competitive they are if they block any way for them to work.
Mexico doesn't want to provide jobs to foreigners anymore than the U.S. wants to provide jobs to Mexicans. The Mexican unemployment rate is 5% so most foreigners should be able to find something part time.
There is much needed volunteer work that MX needs and many of us do, build and run animal shelters, help with orphanages, teach English, get rid of graffiti, etc.
SMA Immigration office is requiring a signed letter from our bank to prove that we are getting Social Security and Pension checks monthly. Our bank statements and letters from SSA and Pensions are not enough. Our bank, HSBC USA will not provide the letter. We are applying for Inmigrante(=FM2) after 5 years in Mexico on FM3. Can any one suggest a solution to our problem?
Letter institution of Mexican or foreign banking or similar financial institution or trust, where it is established that the applicant has sufficient resources from abroad and that of these, of the income produced or their investments in the country, get over a year, monthly income for an amount not less than the equivalent of four days the minimum wage for the Federal District (Documents in another language must be submitted with translation into Spanish).
That sucks. If it's the same request he would get then he probably will go somewhere else to live for the next 5 years. If they accept his almost six figure liquid balance in his investment account then he might go. He did talk to an advisor he was referred to and was told you never know what answer you will get if you don't have an ironclad check coming from a pension or social security. He said he's seen people with proceeds from the sale of half million dollar homes that they plan to roll into a Mexican home purchase get denied with the officer saying they should have enough money to be good with regular tourist visas. As with US immigration there is nothing strategic about the system.
That sucks. If it's the same request he would get then he probably will go somewhere else to live for the next 5 years. If they accept his almost six figure liquid balance in his investment account then he might go. He did talk to an advisor he was referred to and was told you never know what answer you will get if you don't have an ironclad check coming from a pension or social security. He said he's seen people with proceeds from the sale of half million dollar homes that they plan to roll into a Mexican home purchase get denied with the officer saying they should have enough money to be good with regular tourist visas. As with US immigration there is nothing strategic about the system.
I know many people here who do not receive the minimum amount from SS to qualify but they have a 401K or other savings that they show to qualify.
The $1000 USD a month is to prove the person has enough income to live on for a year. It can also be the total $12,000 in an account without any monthly income from SS or any other source.
If he only nets $400 a month and can show another account with $7200 USD sitting in it, then it qualifies. Actually he has enough in his regular account to qualify because Immigration doesn't care how much is going out, only how much is coming in. They aren't looking for $1000 USD a month net at the end of the month after bills are paid, only that $1000 USD is going in once a month.
Your dad qualifies so don't worry about it. Tell him to hire a facilitator, a person whose only business is getting FM3/2 for people because that person has contacts within Immigration and will have no problem getting it approved.
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