| Pages:
1
2 |
tjBill
Senior Nomad
Posts: 516
Registered: 10-6-2007
Location: Tijuana
Member Is Offline
|
|
Renewing FM3
Does anyone know what type of financial documentation they require for renewing your FM3? I am concerned because for a few months this summer I did
not work and, as a result, I did not have money entering my back account.
|
|
|
gnukid
Ultra Nomad
Posts: 4411
Registered: 7-2-2006
Member Is Offline
|
|
The Mexican Immigration office requires proof of your ability to support yourself if you are applying for FM3, for example, Rentista (a renter). This
can vary and depends on the number of people in your family who are dependents. Since the number and experience can vary here is what I found about
proof of income which coincides with my experience:
This figure changes constantly.
It is based on minimum wage (250 times the minimum wage in Mexico City) and fluctuates with the exchange rate. The current amount is $8,700.00 pesos
per month for the applicant and $4,350.00 pesos per month for each dependent. This proof could be in the form of a bank statement showing your
investments generate that amount or more, it could also be a letter from your consulate stating you receive social security, a pension, etc.
The monthly income requirements are reduced by 50% if you own and reside in your Mexican home. If this is the case, be sure to include a notarized
copy of either the deed (escritura) or trust.
All that is required is proof that the minimum income is deposited in any financial institution, anywhere with credibility, be it the US, Europe, or
offshore institution. Even a stock brokerage account, showing the requisite income, has proved sufficient, both in obtaining an original FM-3, both
within Mexico at the local immigration office and at an overseas Mexican Consulate.
I have gotten by with statements from banks or even internet copies where it shows all data, and the amount is flexible but it should be something in
excess of about US$1000 balance which says that you can support yourself for one month, the month of the renewal of the visa. So each statement should
show you have a balance of at least us$1000. Of course it could be interpreted that you will need $1000/month for the time of your stay but your
renewal does not require you to state the amount of time of your stay... Therefore one could justify as little as us$500 total balance recorded over 3
months and this would suffice. Basically you need the 3 statements and the amount can be very little just more than zero. If you have any problem just
say you will go and get another set of statements and bring them back and try again.
|
|
|
gpm414
Junior Nomad
Posts: 67
Registered: 8-2-2006
Location: Summer: Oregon Winter: Baja
Member Is Offline
|
|
Each year I renew my FM3 in La Paz, they ask for statements from the previous three months showing an income of at least $1000. They accept a letter
from Bank of America showing the deposits, so it's not actually the monthy statement. This has been accepted the past 4 years. I'm not sure if the
average must be $1000 if some months are higher than others. As with most official things in Mexico, different offices or officials may interpret the
rules differently.
Where do you renew? Someone who also uses that location may be able to share some "local knowledge".
|
|
|
tjBill
Senior Nomad
Posts: 516
Registered: 10-6-2007
Location: Tijuana
Member Is Offline
|
|
Thanks for the info., I renew in San Diego. I have a mutual fund account so I bring that in to the office, internet copies, since I get all my
statements via the internet.
|
|
|
CaboRon
Ultra Nomad
Posts: 3401
Registered: 3-24-2007
Location: The Valley of the Moon
Member Is Offline
Mood: Peacefull
|
|
| Quote: | Originally posted by tjBill
Thanks for the info., I renew in San Diego. I have a mutual fund account so I bring that in to the office, internet copies, since I get all my
statements via the internet. |
I initially got my FM3 in San Diego and registered it in La Paz.
They seemed more interested in my SS letter showing my benefit for the year and a letter from Disney Pensions showning the benefit paid from them ....
I don't think they even looked at the bank statements (which I had downloaded from their web site) ..
I am going in to renew in a couple of weeks .... hopefully there will be no problems.
CaboRon
|
|
|
Dave
Elite Nomad
Posts: 6005
Registered: 11-5-2002
Member Is Offline
|
|
You live in TJ, right?
| Quote: | Originally posted by tjBill
Thanks for the info., I renew in San Diego. I have a mutual fund account so I bring that in to the office, internet copies, since I get all my
statements via the internet. |
I know of no migra office North of Ensenada that requires proof of income. All that is required is a bank account with the monthly
minimum on deposit.
|
|
|
gnukid
Ultra Nomad
Posts: 4411
Registered: 7-2-2006
Member Is Offline
|
|
To be clear, if your FM-3 is for Rentista there is an income requirement, but if your FM-3 is for authorized work by than one can argue you do not
require income requirements (since you are working).
And yes it is a bank balance not a proof of income.
[Edited on 9-9-2008 by gnukid]
|
|
|
CaboRon
Ultra Nomad
Posts: 3401
Registered: 3-24-2007
Location: The Valley of the Moon
Member Is Offline
Mood: Peacefull
|
|
| Quote: | Originally posted by gnukid
To be clear, if your FM-3 is for Rentista there is an income requirement, but if your FM-3 is for authorized work by than one can argue you do not
require income requirements (since you are working).
And yes it is a bank balance not a proof of income.
[Edited on 9-9-2008 by gnukid] |
All they wanted in San Diego and La Paz was my proof of income from Social Security.
This time it might be different,
I think it depends on whatever the person behind the desk wants.
Not a lot of consistency 
CAboRon
|
|
|
gnukid
Ultra Nomad
Posts: 4411
Registered: 7-2-2006
Member Is Offline
|
|
We are all saying the same thing...
Just some evidence in any form that you could support yourself for the time of the renewal. It can come in any form. Quite honestly, its often
difficult to produce bank statements while most of mine are electronic. The INM staff are just doing a job, make it easy and bring a bunch of
documents that show some sort of income, put these in three envelopes suggesting three months, it will be fine. One can always make the argument,
according to law, that the requirement of 250 times the minimum wage of Mexico City equals very little, and therefore you comply, but something must
be documented.
|
|
|
CaboRon
Ultra Nomad
Posts: 3401
Registered: 3-24-2007
Location: The Valley of the Moon
Member Is Offline
Mood: Peacefull
|
|
Yup,
I am going in with a big pile of paper ....
And , of course, don't forget to bring a file folder
Always thought that was a strange requirement ...
CaboRon
|
|
|
bajalou
Ultra Nomad
Posts: 4459
Registered: 3-11-2004
Location: South of the broder
Member Is Offline
|
|
I have got or renewed FM3 and FM2s 11 times and NEVER was required to show proof of income. I had to have a statement from the bank that I had the
required minimum on deposit. I was allowed to withdraw the money after the letter was written.
My point - different immigration offices apply the rules differently. See what the local office requires.
No Bad Days
\"Never argue with an idiot. People watching may not be able to tell the difference\"
\"The trouble with doing nothing is - how do I know when I\'m done?\"
Nomad Baja Interactive map
And in the San Felipe area - check out Valle Chico area |
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
If you don't have a bank account in Mexico, and not everybody does, you have to show proof of income with bank statements.
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
| Quote: | Originally posted by gnukid
One can always make the argument, according to law, that the requirement of 250 times the minimum wage of Mexico City equals very little, and
therefore you comply, but something must be documented. |
Here's some more cow-flop for the fire:
http://www.mexicanlaws.com/STPS/MINWAGES2008.htm
|
|
|
gnukid
Ultra Nomad
Posts: 4411
Registered: 7-2-2006
Member Is Offline
|
|
Dennis cough cough ol timer
My comment: 250(x)minimum daily wage as a variable interpretation of adequate income is based in the law for me, as interpreted by the the agent I
encounter, reflected in years of my experience is practical advice.
Further research states, as a non-working retireree (50+) you should have either US$1000/month income or if you want to work in non-remunerating
activities you should earn between 250-400 times the daily minimum wage in DF per month and 200 times for dependents. The chart you refer seems
accurate, which states the minimum wage is in Area A which includes DF is MN52.59/day or us$5/day minimum wage.
If you do the the math, for example, that means that 400 x 52.59 per retiree per month or mn21036 or about US$2000/month if you are a (50+) retireree
who wishes to be involved in activities and work but not for compensation.
Perhaps you have had no experience paying attention to balances of US$1000-2000/month so you never encountered the fine line. Let me remind you and
others here, the requirements vary greatly based on formulas that change by the day, according to the type of visa you have, your intentions and your
status. Its the law. Be nice, explain your scenario and demonstrate some income (balance) in any way, shape or form over a period of recent months and
you should be fine.
Just for fun, if you want an investor visa which directs you to projects etc... and allows you to invest you must demonstrate an income of 26,000 x
52.59 (daily wage grp A) as a stated monthly income balance = mn$1367340
edit: The charts the note the visa requirement income rates for various types of visas and circumstances goes on and on for pages and every entry has
an asterisk which states * multiples can change daily.
[Edited on 9-10-2008 by gnukid]
|
|
|
BajaBad
Nomad
Posts: 115
Registered: 1-30-2007
Member Is Offline
|
|
With FM-2s and you own and reside in your Baja home does the '50% less income requirement' apply? Or I should say... suppose to apply, what this
or that office does, is another story 
BajaBad
www.vivalabaja.com
|
|
|
gnukid
Ultra Nomad
Posts: 4411
Registered: 7-2-2006
Member Is Offline
|
|
It states %50 of what stated above or $500 stated income balance/month for fm-3-2 if you own your house and live in it. Bring a notorized copy of the
casa scritoros or the originals and a copy.
As above there are various types of visas for various roles, preacher, athlete, own your own business, work for another, special contributor, passing
through etc... and the rates vary. But you can use $500/month as a starting point for home owners who live in their home as their primary residence.
I have a mexican bank account for my mexican house and of course the statements sometimes arrive and sometimes they don't. Its possible to ask the
bank for a copy of the statement. The inm was a stickler for docs but flexible about how they interpret them.
Do a google search on mexico visa gob sre requirements to find more...
http://www.livingabroadin.com/Mexico/mexico_redtape.html
it should be here too
http://www.mexperience.com/liveandwork/immigration.htm
http://www.sre.gob.mx/
http://www.inm.gob.mx/
[Edited on 9-10-2008 by gnukid]
|
|
|
BajaBad
Nomad
Posts: 115
Registered: 1-30-2007
Member Is Offline
|
|
I apologize for being lazy... here is the resource I have in Visa section http://www.inami.gob.mx/EN/index.php# -- website for the Instituto Nacional de Migracion.
They used to have more information on Visas (from when I was researching last summer), unless I am completely looney (most days I think only
partly)... checked a few other sources and didn't find info on the 50% fee reduction so thanks much for saving me more wasted time researching .
BajaBad
www.vivalabaja.com
|
|
|
Terry28
Senior Nomad
Posts: 825
Registered: 8-25-2007
Location: S.Calif mtns.
Member Is Offline
Mood: Thirsty
|
|
WOW...way to much information...that's why we use a "service" in Rosarito to handle ours...for a small and very reasonable fee they do everything
except get your bank statement...we supply the stamenent and a copy of our elec. bill and thats all. ( we do own our home)..wait 4 weeks and pick up
your new FM3 or 2.
Life is too short to stand in line!!
Mexico!! Where two can live as cheaply as one.....but it costs twice as much.....
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
| Quote: | Originally posted by Terry28
that's why we use a "service" in Rosarito to handle ours...for a small and very reasonable fee they do everything except get your bank statement...
|
What is reasonable up there? I'm still being charged around 300 bucks here for the same service. They used to shag the Apostile for that price but I
don't think that's required anymore.
|
|
|
Terry28
Senior Nomad
Posts: 825
Registered: 8-25-2007
Location: S.Calif mtns.
Member Is Offline
Mood: Thirsty
|
|
I think we paid around $30 for the service..you do have to pay the bank fee of about $100 but that s all ..We use Alicia Romero in Rosarito on the
cross street behind Bancomer....She is excellent, fluent english and her staff as well....we have used her for 6 years...no problems...
Mexico!! Where two can live as cheaply as one.....but it costs twice as much.....
|
|
|
| Pages:
1
2 |
![[*]](images/xmbforum/default_icon.gif){kind=icon}
