If you want to register a business in Mexico or expand your company into the country from overseas, you are likely to want to obtain an investor visa in Mexico. This type of visa will enable you to engage in commercial activities related to your business, as well as influencing your eligibility for permanent residence.
Mexico is the second-largest economy in Latin America and the 15th in the world, with a gross domestic product (GDP) of $1.27 billion (all figures in USD unless otherwise indicated) in 2019, according to the World Bank. Meanwhile, a gross national income (GNI) of $9,430 per capita, places the country at the higher end of upper-middle income nations.
With a population of more than 128 million people, Mexico is considered a major manufacturing hub in the continent and has seaports giving trade access to the Pacific and Atlantic oceans. The nation is also a member of the United States–Mexico–Canada Agreement (USMCA), boosting Mexico’s potential attraction for foreign investors looking to relocate to the country and develop commercial operations in North America.
Some of Mexico’s main export commodities include cars, vehicle parts, computers, delivery trucks, and telephones, exporting mostly to developed markets such as Canada, Germany, Japan, and the United States, as well as China.
Read on to understand the advantages of obtaining an investor visa in Mexico and how to apply for one. Or go ahead and reach out to us now for specialized assistance.
SEE ALSO: How to Register a Company in Costa Rica in 10 steps
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What is an investor visa in Mexico?
An investor visa in Mexico is intended for foreigners looking to do business or buy a property, and who plan to remain in the country for a period greater than 180 days, and for up to four years. With an investor visa in Mexico, you will have the opportunity to live and work in the North American nation, while also having the option of qualifying for permanent residence.
While a foreign citizen can invest in Mexico without having to visit the country, residing in the country will enable you to better understand and participate in all aspects of your commercial operations, as well as to make connections, detect potential additional business opportunities, and minimize risks.
3 steps to obtaining an investor visa in Mexico
The process of obtaining an investor visa in Mexico consists of three key steps:
Step 1: Request an appointment with a Mexican consulate and present the required documentation
You must request an appointment with a Mexican consulate located in a foreign country, fill out the application form, submit the corresponding documentation, and pay the application fee, which currently ranges between $40 and $60. The documents required to prove investor status can be any of the following:
- Deed legalized before a public notary indicating the constitution of a company in Mexico or a document that proves that the foreign investor participates in the capital stock of a company established in the country. Note that your stock participation must be greater than MXN $2,464,400 (approximately $125,000).
- Documentation that proves the ownership of real estate or fixed assets in Mexico, whose value must be equivalent to a minimum MXN $2,464,400.
- Documentation that certifies the development of economic or business activities in Mexico. This may be proven through contracts, service orders, invoices, receipts, business plans, or proof issued by the Mexican Social Security Institute, indicating the employment of at least three workers.
Note that the review and approval of these documents can take up to two days.
Step 2: Obtain a provisional visa to enter Mexico to continue with the application process
If all documents submitted are approved, the Mexican consulate will grant a provisional visa that will allow you to enter the country to continue with the application process for an investor visa in Mexico. You must also pay a government fee to the National Institute of Migration (Instituto Nacional de Migración — INM). This fee depends on the length of stay requested and can be from one year to four years, with an approximate cost of between $2,200 and $5,000. This process can take up to three days to complete.
Note that the shorter the time requested to do business in the country, the greater the probability of approval of the application. This stay can be prolonged each year before the INM.
Step 3: Get your fingerprints taken at the INM
You must go to the offices of the INM, where you will be fingerprinted and issued a temporary residence card. This process can take up to four weeks
Apply for a permanent residence visa
Once you have an investor visa in Mexico, you can apply for permanent residency. This is the best option if you expect to live in Mexico beyond the four years your visa allows for. With a permanent residence visa, you will be able to do business, invest, study, carry out banking operations, and travel within the country for an unlimited period of time.
The process of applying for permanent residence in Mexico can take up to six months to complete after submitting the required documentation. Note that no permanent resident holder will be allowed to be outside of Mexico for more than 18 months within five years. In such a case, the residence will be withdrawn.
Biz Latin Hub can help you get an investor visa in Mexico
At Biz Latin Hub, our full range of market entry and back-office support services can help you enter the Mexican market. Our multilingual team of visa processing specialists is equipped to assist you with securing an investor visa, as well as any other legal or accounting concern regarding doing business in Mexico, or any of the 15 countries across Latin America and the Caribbean where we are present.
Contact us for more information about commercial opportunities in Mexico.
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