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To qualify for the permanent visa they must show a monthly income of 500 times the minimum wage (for 2018 it is 88.36 pesos) or 44,180 pesos or $2,281 US dollars using an exchange rate of 19.37 to 1 (using January 3, 2018 exchange rate). This must be documented with 6 months bank statements. People who have liquid assets may qualify showing that they have maintained an average balance of 20,000 times the minimum wage (for 2018 it is 88.36 pesos) or 1,767,200 pesos or $91,233 US dollars using an exchange rate of 19.37 to 1 (using January 3, 2018 exchange rate). This must be documented with 12 months bank statements. It has been reported to us that in the past there was no minimum age limit on people applying for permanent visas but now many have reported that consulates are asking to see pension or retirement income in order to apply for the permanent visa or they are not giving them to people who are under 50 or 60 years old if at all. Shop around as consulates have different internal guidelines and if you are in this situation it pays to make some calls.
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