This guide to questions and answers about living in Mexico presents the different types of visas that matter to Mexican immigration and what they mean. It also explains what you need to buy property in Mexico.
What is an FMT?
When entering Mexico as a tourist, you will receive an FMT, it is a tourist visa that allows you to stay in Mexico as a tourist for up to 180 days. It renews itself by leaving Mexico and returning to the country.
What is an FM3?
This is a visa for people who wish to live part-time in Mexico but do not wish to become a permanent resident. To successfully apply for FM3 status, you must prove that you are financially independent or that you meet certain criteria to be able to work or have your own business in Mexico.
What is an FM3 Rentista?
FM3 Rentista status requires that you have a monthly income (from retirement, investment, social security, etc.) less than $ 1,000 and less than $ 500 for each dependent. If you own property while you live in Mexico, the required income is reduced by almost half.
What is an FM2?
An FM2 can be requested directly for an FMT or an FM3, you don’t necessarily have to hold an FM3 for a certain time before requesting an FM2. After successfully meeting the requirements of an FM2 for five years, you can apply for immigration status. This allows you to enjoy the privileges and rights of a Mexican citizen while you live in Mexico, with the most important exception of voting rights. The holders can stay in Mexico and work freely without the annual renewal of immigration documents. The status of Inmigrado does not require that you declare your own nationality.
Do I need an FM3 to buy property in Mexico?
When buying a property, you must sign legal documents for a notary. No FM3 is required for this, an FMT with your original passport or birth certificate is fine.
Do I need an FM3 to have a Mexican bank account?
There are many types of bank accounts in Mexico, but you don’t need FM3 for a simple checking account. You need an electric bill, your FMT, and your passport. You get easy access to these documents while you live in Mexico.
