To purchase a property in Mexico, your closing cost can be between 6% and 10%. Immigration costs, depending on whether you will be a temporary or permanent resident, would be about US $1,500; that’s the attorney’s fees and other fees that you will pay to move in to Mexico. That is pretty much all the one-time costs involved when moving into Mexico.
If you want to be a temporary resident, there are various ways of getting an immigration visa. One is based on income, the other one is based on assets, and there is point system based on your profession. It can be combination of all three. If you are immigrating to Mexico based on income, you would need to show about US $1,500 in income to get a temporary or permanent residency. If you are immigrating to Mexico based on assets, you only have to show that you have over $125,000 in assets, which could be stocks, bonds, IRAs, or real estate that you hold in your home country.
If you can show that amount in assets then they will not need to qualify you based on income. If you are coming to work here in Mexico or if you are coming to practice your profession, they will consider you based on if you are a doctor, an artist, or an athlete, etc. then they will use the point system based on your profession.
(Alfonso Galindo peddling at Las Americas Country Club, Tampico, Mexico, pictured.)