Ok, I am approaching the end of my 1st 5 years with a retirement FM3. Now that I have to apply anew, I am wondering for which FM status I should apply. Any suggestions?
An FM2 "Inmigrante" will cost you more money than your FM3 does for 5 years. After 5 years your FM2 goes to "Inmigrado" and you will no longer have to renew it with INM (so it's free). Inmigrado status is Mexico's equivalent of Permanent Residency. Once you have an FM2 Inmigrado it is permanent unless you remain outside of Mexico for 3 consecutive years OR in any 10 year period you are out for more than 5 years total (so to keep it you need to live here more than 50% of the time). How much time do you spend, or want to be able to spend, out of Mexico? With an FM3 you can spend as much time as you want outside the country and you can keep on renewing it, keep on getting new FM3s booklets every 5 years. With an FM2 Inmigrante you can't stay out of Mexico more than 18 months TOTAL in the 5 years that you have to renew it. If you go over the 18 months you will not qualify for Inmigrado status when your 5 years are up. Do you have a foreign car here? Do you want to be able to? With an FM2 you cannot keep a foreign-plated car here. With an FM3 you can. If you wish to apply at some point for Mexican Citizenship you can only do this from an FM2. Note: if you do decide to switch to an FM2 be sure to make copies of all pages of your FM3 before you hand it in, that way you have proof of your exits and entrances to Mexico which you will need if you apply for Citizenship. Hope this helps!
Rivergirl, thanks for waking me through the thought process. I usually spend 50 weeks a year here and baring some unforseen health issues plan on remaing here. I do own a foreign plated car and guess I would have to "nationalize" it if I decide to go the FM2 route. That in fact seems to be greatest hurdle. With an FM2 would I be able to more easily do business here if I choose to do so? Are there any other FM2 advantages I might be missing?
Frank - I'm not sure that you would have an easier time doing business here with an FM2. I don't think it would be easier or harder, probably just the same. It looks to me like people who are married to Mexicans and have FM2s might have an advantage, as I posted yesterday. But if you are here as a retiree then I doubt there would be any difference. I think you'd have to register your business and then get permission to work for it, same process whether you have an FM2 or an FM3. But the prospect of getting Inmigrado/permanent residency would be a big incentive for a lot of folks to get an FM2. The FM2 is ultimately cheaper and gives you more power in the end.
