FM3′s – Nonimmigrant Visa for Retirees

The Consulate of Mexico will issue the Nonimmigrant Visa for multiple entries (FM3) to those who wish to make trips of limited duration.  (And that duration can be a long time.)

If you have now made the big decision to retire in Mexico, and your expenses will be covered by:

• Income brought into Mexico from a foreign country
•  Income resulting from investments, either in Mexico or abroad, you can apply for a Nonimmigrant Visa (FM3) for retirees.

The requirements for a Nonimmigrant Visa (FM3) (we’ve always called this a visa for a “permanent tourist”) for multiple entries are:

• Fill out the Visa Application form, (available at the Consulate website for downloading).
• Appearance in person at the Consulate with a valid passport
• One photocopy of the pages containing personal information
• Photograph of bearer
• two (2) front view passport size photos.
•  proof of economic solvency
• Applicant must prove a monthly income of $1,000.00 USD dollars, or equivalent in Mexican currency.

If the applicant will be accompanied by members of his immediate family, the minimum income required is $500.00 additional per month for each member 15 years of age or older.

The documents accepted as a proof are:

• Bank statement
• Social Security or Pension Receipts.

All documents must documents must be notarized and bear the apostille issued by the Secretary of State where the documents were notarized.

United States passport holders must have a valid passport. A visa is not required for stays of up to 180 days, if holding a Tourist Card/FMT form issued free of charge by an airlines.

Business travelers do not require a visa for up to 30 days if holding a FMN form.

After September 30, 2007:All US citizens traveling to and from Mexico by air will require a passport. By January 1, 2008, the requirement will be extended to include all land and sea border crossings as well.

An FM-3 costs approximately $98.00 US per year, per person, and is renewed annually. It allows you to keep a U.S. plated vehicle in Mexico, to leave and return at will, open and maintain a Mexican bank account, and can exempt you from capital gains tax when selling and allows you to purchase property in Mexico. (Cost is approximate as of this writing. )

With your FM-3 status, you can bring a car and keep it with you as long as that status is maintained.

The cost for an FM3 – for Retirees – no working permit = $98. 

IMMIGRATION FEES

Some of the fees (taxes) are:  (These can vary, so just consider them approximate osts.) The issuing or renewal of an FM-3 document without the right to work) is approximately 1500 pesos – or approximately 150 dollars, U.S., per year. This can be renewed indefinitely.

You can also apply for an FM-3 with the right towork for a bit more – about 1800 pesos ($180.00 U.S.)

The issuing or renewal of am FM-2 document (with the right to work) is  approximately 1,900 pesos. $190.U.S. 

A permit to leave the country while documents are en tramite (pending approval) is approximately 90 pesos. $9.U.S.

VISAS

For those who want to stay longer than six months  at a time in Mexico, without having to make a semi-annual trip to the border, the next step in theimmigration process is the FM-3. You must be 55 to apply, and you will need six things:

• A completed official application form (FDN1/02) and a copy. These are available at any Mexican consulate and at the Regional Immigration Office in Mexico.
• Your original valid tourist visa.
• Your current passport.
• If spouses are applying, a copy of the couple’s marriage certificate.
• Written proof from a U.S. or Mexican bank that the equivalent of $1030 U.S. is being deposited monthly into the bank account of the applicant. For each dependent, The amount required is approximately $515US

If you own property in Mexico, the amount required is reduced by one half. These minimums are set by the Mexican government and can fluctuate.