# Questions about temporary resident visa



## DebInFL (Dec 1, 2016)

I have enough steady income to apply for a temporary resident visa, but not permanent. I probably won't have enough in 4 years either, unless I can continue working online like I am now. 

I read that you cannot extend the temporary residence visa after 4 years, you MUST get a permanent residency visa or leave. 

Is there any way around this?


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## TundraGreen (Jul 15, 2010)

DebInFL said:


> I have enough steady income to apply for a temporary resident visa, but not permanent. I probably won't have enough in 4 years either, unless I can continue working online like I am now.
> 
> I read that you cannot extend the temporary residence visa after 4 years, you MUST get a permanent residency visa or leave.
> 
> Is there any way around this?


There is no financial requirement for converting to permanent after 4 years on a temporary visa.


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## DebInFL (Dec 1, 2016)

TundraGreen said:


> There is no financial requirement for converting to permanent after 4 years on a temporary visa.


Thank you so much! This makes me very happy. I'm pretty anxious to get the he!! out of the US right now.


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## mattoleriver (Oct 21, 2011)

With the visa financial requirements tied to the Mexican minimum wage there could be huge jumps in those requirements very soon. I have been seeing a lot of speculation that the minimum wage will double after the first of the year but, so far, I have not seen that confirmed. Does anybody know yet? A doubling of financial requirements could stop many visa applicants cold.


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## Isla Verde (Oct 19, 2011)

mattoleriver said:


> With the visa financial requirements tied to the Mexican minimum wage there could be huge jumps in those requirements very soon. I have been seeing a lot of speculation that the minimum wage will double after the first of the year but, so far, I have not seen that confirmed. Does anybody know yet? A doubling of financial requirements could stop many visa applicants cold.


Here's the official word on the increase in the minimum wage:

https://www.eluniversal.com.mx/nacion/politica/confirman-que-subira-el-salario-minimo-10268-pesos

It will increase from $82.36 to $102. That's in pesos and is the minimum pay for one day's work, an increase of 23.84%, nowhere near the 50% mentioned by mattoleriver.


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## TundraGreen (Jul 15, 2010)

Isla Verde said:


> Here's the official word on the increase in the minimum wage:
> 
> https://www.eluniversal.com.mx/nacion/politica/confirman-que-subira-el-salario-minimo-10268-pesos
> 
> It will increase from $82.36 to $102. That's in pesos and is the minimum pay for one day's work, an increase of 23.84%, nowhere near the 50% mentioned by mattoleriver.


The article says it will double, to $176 mxn/day, near the border. But that won't affect visa fees. They are pegged to the rate in MXCD.


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## maesonna (Jun 10, 2008)

Visa _fees_ are stated in MXN (Mexican pesos) but the _requirements for financial solvency_ are stated in multiples of the minimum wage.


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## TundraGreen (Jul 15, 2010)

maesonna said:


> Visa _fees_ are stated in MXN (Mexican pesos) but the _requirements for financial solvency_ are stated in multiples of the minimum wage.


Thanks for the clarification. I intended to refer to the income and asset requirements for visas not the fees, but I erred.


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## mattoleriver (Oct 21, 2011)

Spencer McMullen has updated his article on visa requirements to reflect the 2019 increase in minimum wage. 

"To qualify for the temporary visa they must show a monthly income of 300 times the minimum wage (for 2019 it is 102.68 pesos) or 30,804 pesos or $1,572 US dollars using an exchange rate of 19.59 to 1 (using January 2, 2019 exchange rate)."
Immigration | Chapala Law - Spencer's Office S.C. Abogados


2018: 300 x $82.36M = $24708M verifiable monthly income requirement
2019: 300 x $102.68M = $30804M
That is a difference (increase) of $6096M or >$300US at current exchange rate.


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