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The first residency option discussed in the tutorial is for Mexico, which is free of cost. To apply for a temporary residency (TR), you need to show a bank balance of 43k USD or more in the last 12 months. Keeping TR for four years allows you to apply for permanent residency (PR) in the fifth year. After spending one year on PR, you can apply for Mexican citizenship. Having TR is beneficial as it starts your clock for citizenship application.