This guide to questions and answers about living in Mexico lists the different types of visas that are important to immigrants in Mexico and what they mean. It also explains what it takes to buy a property in Mexico.
What is FMT?
When you enter Mexico as a tourist, you get an FMT, a tourist visa that allows a tourist to stay in Mexico for up to 180 days. She renews herself by leaving Mexico and returning to the country.
What is FM3?
This is a visa for people who want to live part-time in Mexico but do not want to become a permanent resident. In order to apply for FM3 status, you must prove that you are financially independent or meet certain requirements to work or own your own business in Mexico.
What is FM3 Rentista?
FM3 Rentista status requires that your monthly income (due to pensions, investments, social security, etc.) be less than $ 1,000 and less than $ 500 for each dependent person. If you live in Mexico you own property, reduced income decreases by almost half.
What is FM2?
FM2 or FM3 can be applied directly to FM2. You do not have to hold FM3 for a while before requesting FM2. After five years of compliance with FM2 requirements, you can apply for immigration status. This allows you to enjoy the privileges and rights of Mexican citizens while living in Mexico, with the exception of the most important voting rights. Holders can reside in Mexico and work freely without the annual renewal of immigration documents. Immigrant status does not require you to declare your nationality.
Do you need FM3 to buy real estate in Mexico?
When you buy real estate, you must sign the correct documents with a notary. It does not require FM3, FMT matches your original passport or birth certificate.
Do I need FM3 to have a Mexican bank account?
There are many types of bank accounts in Mexico, but FM3 does not need the simplest checking account. You will need a bill for electricity, FMT, and a passport. You will have easy access to these documents while living in Mexico.