# Economic Solvency - they have INCREASED the barrier ( or wall )



## [email protected] (Nov 12, 2017)

Hola, y buenos dias. I just read through a question raised on another post here, the outcome was that the couple was no longer considering Mexico, and now looking towards Panama - WHY, because of the hurdles of establishing their finacial where with all. Just last night I "discovered" I too fall short of the "new formula" in determining economic solvency.

The IRONY, is that I have my Residente Temporal visa in hand ( expiring 6 de enero 2023. I applied 3 & half years ago using my SSA benefit ( 70 years old this July ) AND received the visa stamp from the Las Vegas Consulate. Applied here in San Cristobal de Las Casas, Chiapas at the INM office, received the 1 year approval, reapplied and received the 3 year approval ( I do not know what the correct terminology is for these steps ). Last night I was "shocked" , concerned or saddened reading that the new formula (The Unit of Measurement and Updating (UMA)) is being used, which JUMPS the threshold up almost a $1000/month from what I used to gain my current RT visa.

So my question might be obvious - one month before my current RT visa expires I approach INM - some expat blogs say that INM will automatically reissue a new Residente Permanente visa, and NOT require "economic solvency." I know this in Mexico, "*or anywhere - where ever in the world*," and things regulatons change. 

Is Mexico tightening and restricting expats desiring to live in Mexico now??? On other blog I read where even the FMM tourist visa is NOT guaranteed to be issued for 180 days . . . ((( sorry, in one direction "come on in," going the other way one falls to the mood of the INM officer of the day . . . ))) anyone with recent experience and suggestions???
con una sonrisa


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## MangoTango (Feb 8, 2020)

At the risk of opening myself up to criticism I will suggest that day to day life in Mexico IS getting more expensive with each passing month. Perhaps the powers that be realize this and are in a sense doing potential extranjeros a favor by raising the financial requirements for entry.

I know that I am not a typical expat. I own a house, I own a car, I have solar panels and a well. But - I do have the top of the line insurance on my house and car. I basically pay for my healthcare expenses out of pocket (yes I have IMSS but I don't use it anymore). I'll just throw this out there - in the last two years I spent perhaps a million pesos on medical expenses. My situation is a little out of the norm but I have spent perhaps 300,000+ in legal expenses (and I was treated with kid gloves believe me).

Perhaps 10 years ago an office visit with a respectable doctor might have cost 500 pesos. Just today I paid 800 pesos and it is not uncommon to pay 1000 or even 2000 pesos. Used to be 350 pesos to have my teeth cleaned This week I paid 500 pesos (and she only spent maybe 10 minutes inside my mouth). Today I spent something like 3800 pesos to have two prescriptions filled. Natural gas is getting more expensive every time I have the tank filled, as is Pemex. My solar panels are saving me a fortune and I'm sure it would cost me much much more to have a system installed today.

Not too long ago it was normal to walk out of Costco having spent 1000 pesos. Today it is more like twice that amount. I gave my gardener an unsolicited raise from 500 to 600 pesos / visit because I know it is costing him more to support his family.

For some reason, some things have not gone up that much. The auto/home owners insurance have stayed the same for years. I think my property taxes might have even gone down some.

There is a month each year when Comex and Fester have sales on paint and sealador / impermiabilizante (?). I have the space to store it, and it has a shelf life of like 3 years, so last year I filled a room up with pails of the stuff. Turns out that was a pretty good move on my part because I saved a bundle over this years prices.

I'm still not spending anywhere near what I was paying in the US (as a homeowner) - but one of the scenarios I am seriously considering is returning to the US as a renter (at least part time) just to experience what life is like there today.

Edit : And when we bought our house in Mexico the dollar/peso was around 13.60. Compare that to today's 20.94.


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## eastwind (Jun 18, 2016)

[email protected], I think you can relax about residency.

You are past the two hurdles where financial solvency has been checked.
Yes, they can always change things, but I have heard nothing about changing the process whereby you change from Residente Temporale to Residente Permanente on the basis of having completed 4 years on RT. That specific process has no financial requirements, and that is what the official INS website says as of a couple weeks ago, and nobody going through the process has reported otherwise. 

Inflation is definitely a problem for retirees, always has been.


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## surabi (Jan 1, 2017)

[email protected] the financial requirenents for permanent residency have always been substantially higher than for temporal. That isn't something new.

But as eastwind said, unless something has changed, you segue from temporal to permanente without having to provide financials again.

Mango Tango- yes, things get more expensive all the time. The price of gas and propane and foid has certainly risen in the past couple years. But doesn't everywhere? I don't know why anyone would thunk Mexico would be any different. 
I'm a bit surprised, though, at some of the prices you quoted. Where do you live? 10 years ago the price of an office visit with a decent doctor was 200 pesos iin my area and my dentist spends at least 30 mnutes on a 500 peso cleaning.


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## [email protected] (Nov 12, 2017)

MangoTango said:


> . . . I basically pay for my healthcare expenses out of pocket (yes I have IMSS but I don't use it anymore). I'll just throw this out there - in the last two years I spent perhaps a million pesos on medical expenses . . . "
> 
> . . . I hope your health continues in a very good way, I know only too well that " I am getting older . . . " grins.
> ((( In my mind, and looking out through my eyes, I experience life as a teenager . . . and then a "tap on the shoulder" . . . NO YOU ARE NOT 17 YEARS OLD . . . where did the time go, it is flying by one day at a time . . . )))


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## [email protected] (Nov 12, 2017)

eastwind said:


> [email protected], I think you can relax about residency.
> 
> . . . I'll keep our forum posted as to what I face, y muchas gracias por tu paciencia & thoughts . . . con una sonrisa


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## [email protected] (Nov 12, 2017)

surabi said:


> [email protected] the financial requirenents for permanent residency have always been substantially higher than for temporal. That isn't something new.
> 
> . . . Yes, I understand that economic solvency difference . . . learning more & more about the steps ahead . . . gracias por tu paciencia . . . con una sonrisa


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## Bobbyb (Mar 9, 2014)

Surabi: We live in Sonora. Specialist office visits run from 800 to 1000 pesos.All the imaging charges are up as well. This is at a private hospital. One of the best in Mexico. Property taxes are up about 20%.Internet, electricity and water are also up. But this is to be expected. The days of living on $500 a month are just a dream about life in the 60's. About 10 years ago a nice house on the beach sold for $250,000 USD. WE were all shocked. Nothing has ever sold for that price. Today the lot is almost worth that much. Mango tango mentioned paint. 3 years ago I could buy a cubeta of Berlinta for just over 850P. Today it is 1300P. However prices NOB have also increased. Corporations raise prices because they can. The cost of labor is close to Nada. As a businessman I always wanted a business in Mexico with Mexican costs but sold the goods in the USA. License to print money.


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## Bobbyb (Mar 9, 2014)

Correction. That paint used to be 1200 pesos and is now 1955p.


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