Mexico City Minimum Wages ~ Salario Minimo ~ Going Up Dec. 1, 2017

November 22, 2017
Despite last month’s early higher ‘predictions’ (aka rumors), the Mexican minimum wage for Mexico is increasing to only $88.36 pesos diarios.

Effective Dec. 1, 2017,  the daily salario minimo for Mexico increases just 3.9%, while inflation has been officially pegged at 6% for the previous year => Mexican workers pay is losing ground.

http://noticieros.televisa.com/ultimas-noticias/nacional/2017-11-21/conasami-acuerda-aumento-salario-minimo-cinco-pesos/

Next:  Note that this Mexico rate is the official value used for calculating INM Resident visa income requirements etc.

= = = = = = = = = = = = = = = = = = = =
Examples:
Financial Independence (Savings or Income or Property) Requirements for Permanent Residency / Residente Permanente Applicants

Average Monthly Balance of about $94,000 USD (exactly $1,767,200 pesos) at $19:1 MXN:USD for Residente Permanente … per 10/10/14 DOF Lineamientos for Mexican Consulates.

or
Using Method of Regular Deposits of Income or Pension Receipts: (Residente Permanente)
~ Have minimum monthly (investment account or work?) income deposits or pension deposits that are the equivalent of five hundred days worth of the current minimum wage ($88.36 for 2018) in the Federal District, for each of the previous six months – with original and copies of original bank statement. This translates to:
about $2,100 USD (exactly $44,180 pesos  for 2018) a month of regular deposits for one Residente Permanente.

= = = = = = = = = = = = = = = = = = = = = = =

Using Method of Monthly  Deposits of Income or Pension Receipts: (Resident Temporal)
~ Have minimum pension or salary deposits/income that is the equivalent of  Monthly income of 300 days minimum wage of the current minimum wage in the Federal District ($88.36 pesos per day for 2018) …  $26,508 pesos or about $1,400 US a month in deposits,  reported for each of the previous six months – with original and copies of original bank statement for one Residente Temporal.

Current 2018 DF general minimum wages of $88.36 MXN pesos per day, converted at the current exchange rate of 19:1 pesos to US dollars, for 300 days of wages:
~ About $1,400 USD (exactly $26,508 pesos) per month ~ in 2018 of regular Deposits ~ to qualify for Residente Temporal … per the 10/10/2014 Lineamientos for Mexican Consulates.

or

Residente Temporal Income or Deposits or Bank Balance Requirements for Family Members of a Mexican Citizen:
Using average minimum required monthly Account balance for 6 months: 300 days x $88.36 MW = $26,508 pesos for Residente Temporal applicants.

Using minimum required monthly pension or income: 100 days x $88.36 MW = $8,836 pesos of 2018 monthly pension income (or generic income deposits at some INM offices) for Residente Temporal applicants, documented by 6 months of Bank statements (about $470 USD @ 19:1).

or
Using Method of Owning Real Estate Property in Mexico: (Residente Temporal)
~ Own/have real property trustee rights, with a value equivalent to forty thousand days of general minimum wage in the Federal District, with original and copy of written proof from a Notario.   At the current $19:1 MXN:USD exchange rate, this translates to:
About $187,000 USD (exactly $3,534,400 pesos) worth of property for one Residente Temporal.

Full Details can be found at:

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Feel free to copy while giving proper attribution: YucaLandia/Surviving Yucatan.
© Steven M. Fry

Read on, MacDuff

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