What is an FMT?
Upon entering Mexico as tourists, you will receive a FMM, this is a tourist visa that will allow you to stay in Mexico as a tourist for a maximum of 180 days. Is renewed by leaving Mexico and re-enter the country.
What is an FM3?
This is a visa for people who want to live in Mexico, but part-time hopes to become a permanent resident. To apply for FM3 status will be shown to be economically independent, or meet certain criteria to work or own a business in Mexico.
What requirements do I have to meet to get an FM3 ?
FM3 Rentista state requires you to have a monthly income (retirement, investments, social security, etc.) of less than $ 1,000 and less than $ 500 for each dependent. If you own property while living in Mexico, the amount of income is reduced by almost half.
What is an FM2 ?
A FM2 can be ordered straight off an FMT or FM3, which does not necessarily have to have an FM3 for a certain amount of time before applying for an FM2. After five years of success in meeting the requirements of one FM2 can apply for immigrant status. With this you can enjoy the privileges and rights of a Mexican citizen living in Mexico, the main exception is the right to vote. The holders can stay in Mexico and work freely without annual renewals of immigration papers. Permanent Resident status is not necessary to renounce their original citizenship.
Do I need an FM3 to buy property in Mexico?
By purchasing a property will have to sign legal documents notarized. This does not require an FM3, an FMT with your passport or original birth certificate is fine.
Do I need an FM3 to have a bank account in Mexico?
There are many types of bank accounts in Mexico, but a simple checking account that does not need an FM3. You will need an electricity bill, your passport and FMT. You’ll have easy access to these documents, while living in Mexico.
{ 5 comments… read them below or add one }
Moving to Ajijic in August.
The new tourist visa is apparently now called an FMM and is good only for 30 days.
I hear several stories: you can ask for and get 180 days —- or you can extend it in Mexico every 30 days to the max of 180 days.
Question: I want to stay in Mexico indefinitely on a tourist visa, beyond 180 days. Can this still be done??
Yes you can it’s just a bit trickier these days. Just apply for an extension.
Two partners and I are moving to Cozumel (May 1, 2011) and are busy busy busy with preparations. The ONE thing that has us so confused is actually working in our own business. When we form a corporation and receive our FM3s through the corporation – can we WORK in our restaurant / bar? I’ve searched and asked everyone and have gotten no one clear answer.
Yes you can Alan email me if you need any more advice.
info@lakechapala.net
Dear David,
I have been living in Mexico for several years now and just renewed my fm3.
Now, it’s a card to carry in my wallet. I would like to get an fm2 since I plan on living here for the rest of whatever! Can I get an fm2 before my annual renewal or do I have to wait?
Thank you.
I also own a home here.