Originally posted by Mulegena
You will most likely enter the country on a 180-day tourist permit which currently costs $24.50 USD. This confers rights and responsibilities and will
serve you well and give you plenty of time to enjoy yourselves and "get the lay of the land" first-hand.
With a 180-day tourist permit you can camp on the beach or in a campground, rent a place to stay, buy "construction and improvements" i.e. house and
maintain ownership of that house with a 10-year renewable lease on rented land, put related house bills in your name, buy an ATV or car, open a bank
account, fly within Mexico and fly out of Mexico. You'll need to renew that 180-day visa each time you come back in-country.
You will need a Temporary Resident visa (or Permanent Resident visa if you qualify) to own a fidecomiso (bank-held trust) or Mexican corporation. A
temporary resident visa costs about $350US/year and the permanent resident costs about $450/year.
Other than owning a corporation or a fidecomiso another reason to begin the process of the residency visas is if you wish to eventually apply for
Mexican citizenship. Note, this is subject to change as the immigration laws change.
Mulege's bank, Bancomer, will gladly open a dollar or peso account for you. Note: Bancomer requires a minimum daily balance of $2000pesos ($150US+/-)
24/7/365 or they will deduct significant fees which will effectively render your account empty and inactive and closed within a few short months.
Bancomer has an ATM that honor cards from other banks and levies transaction fees that vary according to its relationship with that particular bank.
They let you withdraw up to $10,000pesos/day with a foreign bankcard but only $3,500/day with their own bankcard.
[Edited on 3-22-2014 by Mulegena] |