As the Mexican economy grows and exciting business opportunities present themselves, the desire to immigrate to Mexico increases amongst foreigners. The region’s popularity amongst travelers, retirees and entrepreneurs continue to grow and many now consider Mexico a great region to live and do business in.
Immigration to Mexico is common amongst folk from Central America, however, over the past decade, immigration from the US, Canada, and Europe has skyrocketed. Some come to retire and others come to try their luck in the business world. Whatever your reasons are for moving to Mexico, it is vital you are aware of the correct immigration procedures.
Why Immigrate to Mexico?
As mentioned, immigration into Mexico has grown popular over recent years for a number of reasons:
- The Mexican economy remains strong despite the recent political changes.
- Mexico has established commercial and trade relationships with various global powers, creating a wealth of business opportunities for keen entrepreneurs.
- Mexico has implemented legislation which is welcoming of immigration and also of international trade and commerce.
- Mexico is culturally diverse and has a world-famous gastronomic scene.
Current Economic Situation in Mexico
Within the past two decades, Mexico has become a favorite place for migrants from all over the world, particularly those from the US and Canada. The economy in Mexico is doing very well and continues to grow. Mexico’s economy is the 15th largest globally and the nation has the 11th largest purchasing power. In fact, accordingly a range of sources, Mexico is tipped to be one of the 10 largest global economies by 2050. In recent years, the Mexican government has implemented legislation to boost its economy. Some examples of recent legislation include the following:
- Public auctions of oil and gas exploration and development rights and for long-term electric power generation contracts.
- Permits for private sector import, distribution, and retail sales of refined petroleum products. This is an effort to attract private investment into the energy sector.
Economic growth is a direct effect of these and additional legislative reforms, making Mexico an attractive destination to immigrate to and engage in commercial activities.
Immigration Into Mexico
It should be noted that the process to become a citizen of Mexico can be slightly complicated, especially without local support. Mexican citizenship requires five years of residency prior to the application date, which can include temporary or permanent residency. The Mexican government has implemented three different types of unsponsored immigration statuses, which are:
- Visitor Status. This status is given to any person that visits the country as a tourist and is not involved in commercial activities or employment.
- Temporary Residency Status. This status is given to foreigners who are entering the country for work purposes.
- Permanent Residency Status. This status allows foreigners to reside in Mexico permanently.
In addition to unsponsored immigration, Mexico has legislation related to sponsor-based immigration. The government allows sponsor-based employment for foreigners who wish to perform remunerated activities for a company incorporated in Mexico.
It should be noted that the foreign individual must file the visa application directly with the National Immigration Institute (INM) in Mexico. To process this visa application, the individual requires the sponsoring Mexican company to register beforehand with the INM. Afterward, the INM will provide a certificate identifying that the company is able to sponsor the visas of foreign employees. Foreign individuals with permission to engage in remunerated activities within Mexican territory must obtain advanced authorization from the INM before entering Mexico.
To clarify, employment is remunerative when a Mexican employer directly hires and compensates a foreign national.
After the INM has approved the sponsoring company’s request to hire a local employee, the foreign individual must apply for the appropriate visa at a Mexican consulate outside of Mexico. Furthermore, on entry to Mexico, applicants for a temporary resident visa must register with the INM to conclude the process and to obtain their local Mexican identification card.
Immigration Legal Services
Some individuals incorporate a local company and then use this company to sponsor their visa – either an employment visa or an investors visa. Others are employed by an existing Mexican company. While the processes and procedures to gain residency in Mexico are not overly complicated, it is best to parter with local group to gain a deeper understanding of the requirements and processes involved. The different legal services that a local legal firm can offer in regards to immigration include an initial consultation, the creation of an immigration strategy and visa application management.
Biz Latin Hub is a trusted market-entry and back-office provider with a commercial presence across all key Latin America regions. From commercial representation, company incorporation support to legal services to assist with visa application processing, Biz Latin Hub can assist. For personalized support, get in touch with a member of Team Mexico via [email protected].
Successive Mexican governments who devised policy welcoming foreign participation in Mexico. For this reason, the company incorporation process is quite straightforward. Check out our video below and learn the key steps process.