BajaNomad

FM-3 question-kinda

Royosbaja - 2-26-2008 at 11:51 PM

I know there have been a lot of posts concerning FM-3's but I have not found one addressing this.
I have not retired from my US job yet, but I do wish to purchase/lease property in Baja now. I called the Consulate in Los Angeles and they told me that I do not want an FM-3 but something more in line with what an invester would need. They added that this cannot be done in the US but needed to be done in TJ or ?

My questions is, has anyone ran into this and if so, can you provide a little more light on the topic. I do not speak Spanish so I am not really sure if I trully understood the gentleman I spoke with at the consulate's office, (very broken english).

Any help would be appreciated.

Rob

Loretana - 2-27-2008 at 07:50 AM

Hi Rob,
Welcome to the Nomad board.

I was in the same situation two years ago. Not ready to live in Baja full time, but ready and very determined to buy properties.

My advice would be to decide where you plan to buy. Then inquire among the local "extranjero" (read:gringo) population how the local notary's office there handles property purchases. Do they want you to have an FM-3 first, or not.

Here in Loreto, I was not asked for one when we processed my fideicomiso. I presented my passport and tourist visa at the closing.

However, when I began to build, I needed a checking account in dollars, and at that point, I needed the FM-3. Thanks to my architect/builder Jesus Cortes, I had mine processed within one week.

My experience indicated that it is better to deal with the local immigration office when you do apply for the FM-3. Don't deal with the Consulate offices stateside. They apply the regulations differently.

Buena suerte!!

roamingthroughbaja - 2-27-2008 at 07:50 AM

The type of FM3 you need depends on what you intend to do with the property you acquire. Can you give us a little more info?

bajabound2005 - 2-27-2008 at 07:50 AM

Never heard of it. Call again and speak to someone else. They don't need to know that you're not retired yet, that is not a "requirement".

Acuity - 2-27-2008 at 08:01 AM

My wife had what might be a similar issue when she first applied for an FM3. She was not of an age where most people expect you to be retired and so the Cabo authorities questioned her access to an FM3 Rentista (we did not want or need a working FM3). She got it from the Vancouver Consulate and, after some words at the Immigration office, they let her continue and register it in Cabo.

I'd check with the local Immigration, as the rules are, to say the least, fluid, and the consulates don't always know how it will be interpreted locally.

bajaguy - 2-27-2008 at 08:05 AM

Applying for and receiving an FM-3 at the Consulate in San Diego is a quick and painless process, takes one day. If you want detailed information, please u2u me.

Acuity - 2-27-2008 at 08:06 AM

From Mexretire.com
"Rentista
Rentista status may be accorded to those who are 51 years of age or older, who intend to settle in Mexico without working. Applications for Rentista status must be accompanied by a letter from either: 1. a bank or other financial institution, or 2. a government Social Security or pension agency.

The letter must certify the amount of money that the applicant receives each month. Those over 51 who intend to retire in Mexico are encouraged to apply for a Rentista type of FM2 or FM3 Visa."

Maybe this is where the question arises?

BajaWarrior - 2-27-2008 at 04:34 PM

I'm 47, does that mean I'm not required to have an FM-3?

Cool!

Don Alley - 2-27-2008 at 04:44 PM

Quote:
Originally posted by bajaguy
Applying for and receiving an FM-3 at the Consulate in San Diego is a quick and painless process, takes one day. If you want detailed information, please u2u me.


You still need to get the FM-3 finalized at your local BC or BCS office. That will determine how easy the process ultimately is; results will vary according to the many posts made here on that subject.
Quote:
Originally posted by BajaWarrior
I'm 47, does that mean I'm not required to have an FM-3?

Cool!



:lol:
If you stay longer than the FM-T allows, you need one. If you leave any real property behind when you return to the US, you need one. If you own real estate, you need one, and having an FM-3 also gives you some additional rights and procedures that can protect you from deportation.

I have heard that some offices have an age requirement but I have not heard of one being enforced.

turtleandtoad - 2-27-2008 at 05:26 PM

Quote:
Originally posted by Don Alley

If you stay longer than the FM-T allows, you need one. If you leave any real property behind when you return to the US, you need one. If you own real estate, you need one, and having an FM-3 also gives you some additional rights and procedures that can protect you from deportation.

I have heard that some offices have an age requirement but I have not heard of one being enforced.


Well,...... except for an RV or boat or anything else with a 10 year TIP. Those can stay in Mexico until you decide to take them back or the TIP expires. Even if you don't have a FM3!

Or don't they qualify as "Real Property"?

bajaretreat - 2-27-2008 at 06:05 PM

lAs per Sidne Byars, a longtime La Paz realtor: You can own property on a tourist visa...However, if you spend more than six months a year here you need an FM3. You also cannot have a bank account here in Mexico without an FM3 but to purchase property all you need is a current tourist visa and a current passport.


sidne byars herrero

BajaWarrior - 2-27-2008 at 06:10 PM

Too bad the rules for an FM-3 aren't published for us to see by the Mexican Government...Or are they???

So far, I don't spend more than 6 months in Mexico, and I'm not of a heresay qualifying age of 51 or more...

I don't need an FM-3! :spingrin:

Don Alley - 2-27-2008 at 06:33 PM

Maybe I'm wrong about the RV or boat with the temporary import permit. I was told by a local consultant when I got my FM-3 several years ago that property left behind was otherwise legally considered "abandoned" and the police would not help if it was stolen. Folks are sure free to try and find out on their own.

Bank account: We were told by the local bank officer that we did need an FM-3 for a local bank account. The local immigration office told us we needed a minimum balance of 10,000 pesos in a Mexican bank account in order to receive our FM-3. Catch-22.:biggrin: The solution: the banker said they would be "flexible" and allow us to open a peso account only.

Published rules: The Loreto office will give you a list of the rules and requirements for their office. Other offices may also provide information. That information, according to word of mouth and many reports here, varies.

I still would recommend that anyone owning real estate and/or leaving property behind in Baja procure an FM-3 from their local Baja immigration office. Obviously others recommend differently, that's OK with me.