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Author: Subject: confused on owning property in Baja
bajalou
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[*] posted on 9-17-2007 at 11:49 AM


As you know, you renew each year. After the 4th renewal (5th year), instead of renewing that one you apply for a new FM3. Much easier as the old one is referenced so you only have to get new pictures and the usual bank papers and pay the fees. You can keep doing this as long as you choose, paying every year. Some of us prefer to go to the FM2 and Imigrado status so as to quit the anual payments.



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capn.sharky
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[*] posted on 9-17-2007 at 12:21 PM


Toneart---good advice. I originally got my FM3 in San Bernardino. Had to do the whole thing over in Loreto. That was about eight years ago. Much easier now. An FMT is strickly for tourists who will come to mexico and leave with everything they brought in. You have only the right to remain in Mexico for the time on your FMT.



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Pstreet1
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[*] posted on 9-19-2007 at 12:33 PM


We've been told by real estate agents and Mexican attorneys that the real value of an FM3 comes in the sale of the property. Without an FM3, your taxes are substantial; with an FM3, you save thousands of dollars, more thousands of pesos.
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gnukid
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[*] posted on 9-19-2007 at 12:48 PM


The goal with contiguous FM-3 and home ownership is to document that you are a mexican resident for more than x days and your mexican home is primary (more than 6 months) which means no capital gain tax, according to rumor and innuendo.
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