Marie-Rose
Senior Nomad
Posts: 894
Registered: 10-2-2003
Location: Victoria, B.C. and Todos Santos
Member Is Offline
Mood: Worried...
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Two FM3 questions
So... what happens if I do not get back to Mexico before my
FM3 expires? Has anyone experienced this recently? (oops sorry... I actually have 3 questions )
Do you need to have an FM3 to sell your property?
Any recent experiences greatly appreciated.
Remember, when in Mexico, yes may be no and no may be
maybe!
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CortezBlue
Super Nomad
Posts: 2213
Registered: 11-14-2006
Location: Fenix/San Phelipe
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So, you are talking about Mexico.
You can go to Mexico and you can renew your FM3, BUTTTT, you will have to pay a late fee and you will have to go to first base.
So this means, if you had 4 years on your FM3 and you go to renew, you will be back to year one.
Do you need to have an FM3 to sell, no, but a few things come into play
1. You have NO legal rights in Mexico without an FM3 or FM2
So if you had an "ISSUE" during the process and you had to go to the courts to resolve this issue, you can't.
2. Unfortunately during Augurst or Sept Mexico changed the laws and, from what I have found, they now tax you on the sale of your home against the
sale price, not the Gross Profit. Unless, you can prove that you are a permanent resident with an FM2. I would find a notario that supports your
current position, which may take some extra fees for the notario, if you know what I mean!!
These are my opinions and I am sure that someone, or some folks, like DavidK, will correct all of my comments, but this is what I have discovered over
the last several months.
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MitchMan
Super Nomad
Posts: 1856
Registered: 3-9-2009
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Cortez Blue,
Are you saying that if you hold a current FM2, that will allow you to sell your mexican house (owned by an American via a Fideicomiso) as a resident
and avoid both the capital gains tax, IETU or any other kind of tax on a sale of said house?
I thought in order to get that kind of tax relief that you had to be a full blown citizen of Mexico and that would come only after holding the FM2 for
at least 5 years, and then timely filing for and obtaining Mexican citizenship.
With regard to paragraph 2 above, am I wrong?
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longlegsinlapaz
Super Nomad
Posts: 1685
Registered: 11-18-2005
Location: La Paz
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No arguments with any of your statements CortezBlue!
Marie-Rose, I personally feel it would be in your best interest to get your FM3 renewed or you will be subject to a fine which can be greater than the
renewal amount. If you don't choose to renew it before it expires, you need to officially notify INM that you want it canceled & turn your
existing FM3 over to INM to avoid monetary penalties. I'm not sure whether the relinquishment process can be legally accomplished at Mexican
Consulate in your area....no not. I know renewal cannot be done outside of the INM office you're registered with in Baja.
Mitchman, it's my understanding that the latest (2010) changes in the law read that you have to be able to prove it's been your primary residence for
the past 5 years for capital gains exemption. Citizenship is irrelevant, the key factor is physical residency.
Sorry to cross-post, Kate!
[Edited on 2-17-2011 by longlegsinlapaz]
[Edited on 2-17-2011 by longlegsinlapaz]
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MitchMan
Super Nomad
Posts: 1856
Registered: 3-9-2009
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Thanks, longlegsinlapaz and morgaine7,
This is an important issue to me. Now I have to research what would satisfy the factual requirements (both in documentation and otherwise) to prove 5
years of consecutive principal residency. This is a good start. In view of all the foregoing, I may be able to simply renew my FM3 for another 5
years and also be able to sell within a year instead of six years from now. This is a much better option.
[Edited on 2-17-2011 by MitchMan]
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
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| Quote: | Originally posted by CortezBlue
1. You have NO legal rights in Mexico without an FM3 or FM2
So if you had an "ISSUE" during the process and you had to go to the courts to resolve this issue, you can't.
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Sounds as though you see no future need for Mex Immigration so you could put off renewal until it became a necessity and hope that it won't.
If you anticipate problems, be prepared.
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durrelllrobert
Elite Nomad
Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
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Mood: thriving in Baja
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If just start the renewal process before expiration date you will avoid fines and penalties. Contact Carlos Victoria in Ensenada (cell phone
044-646-149-2772) to make the arrangements. This is his reply to another Nomad:
"Yes we can work it out in order for you to avoid any penalty, let me tell you the logistics:
Step #1
We need from you to scan us your FM3 just the following pages: 4,5,6,11 and 12.
Scan your passport just the front page.
Step # 2
We will do the hall process and we will send it to you back just for signatures.
Step # 3
You will send us all paperwork and a check for $XXX Dlls under my name XXXXXX, to our US address:XXXXXXX
Step # 4
We will submit the process to Immigration as soon is we receive the paperwork.
Step # 5
In about 2 or 3 weeks Immigration will tell us your FM3 is ready to pick up.
Step # 6
We will e mail you when your FM3 is ready for you to come and put fingerprints and signature.
You will have 3 month to come and pick it up. You will come directly to our office and we will send you to obtain your pictures at the same day. When
you return from the pictures we'll go to Immigration so you can sign and put signature on your new FM3 and instantly you will have it.
Bob Durrell
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BAJA.DESERT.RAT
Senior Nomad
Posts: 980
Registered: 11-5-2009
Location: BAJA SUR
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Hola,
i renew my fm3 and my inactive mexican corporation before march 22 each year.
this year due to health issues, i won't be able to do so until april.
is it possible for me to go to the mexican consulate in los angeles to renew my documents to avoid any penalties ?
also, i have read that it is necessary to go to the office of origin for renewing my paperwork which in my case was cabo san lucas. it seems
contridictory that my accountant takes my paperwork to la paz for renewal each year ?
BIEN SALUD, DA RAT
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DavidE
Ultra Nomad
Posts: 3814
Registered: 12-1-2003
Location: Baja California México
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Mood: 'At home we demand facts and get them. In Mexico one subsists on rumor and never demands anything.' Charles Flandrau,
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I just did step one of 5
FM-3 expired in October. Entered Mexico Feb 7. Stopped at immigration. The migra there (Sonoyta) looked for the FMM stub I received when I had exited
Mexico, and found it wedged in my FM-3 booklet. He stapled the FMM stub to the back cover of the FM-3 booklet and handed the booklet back to me. He
said I was supposed to check in with my local INM office after returning to my Mexican domicile.
Then I got crossed-up with car papers and had to drive a thousand miles back to the San Francisco Bay Area. I never did get pass the Temporary Import
Car Revision east of Sonoyta on Mex 2.
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bajalou
Ultra Nomad
Posts: 4459
Registered: 3-11-2004
Location: South of the broder
Member Is Offline
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| Quote: | Originally posted by BAJA.DESERT.RAT
Hola,
i renew my fm3 and my inactive mexican corporation before march 22 each year.
this year due to health issues, i won't be able to do so until april.
is it possible for me to go to the mexican consulate in los angeles to renew my documents to avoid any penalties ?
also, i have read that it is necessary to go to the office of origin for renewing my paperwork which in my case was cabo san lucas. it seems
contridictory that my accountant takes my paperwork to la paz for renewal each year ?
BIEN SALUD, DA RAT |
Accounting goes to Hacienda. Immigration is whole different story.
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 |
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Marie-Rose
Senior Nomad
Posts: 894
Registered: 10-2-2003
Location: Victoria, B.C. and Todos Santos
Member Is Offline
Mood: Worried...
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What can I say... you guys just never disappoint!!!
I MAY only arrive a couple of days or weeks after my FM3 expires so will try to make arrangements to get my scanned FM3 to a notario... just to cover
my bases.
Think I will stay on the safe side and keep the FM3 for another year.
Fabulous property for sale in TS for anyone who is interested
Remember, when in Mexico, yes may be no and no may be
maybe!
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