Mexico has designed several different immigration visas, depending upon your intentions for remaining in this country.

The most basic is the FM-T, or tourist card, which allows visitors to remain in Mexico up to six months, without working. The FM-T may be renewed by simply leaving Mexico within the allotted six-month period, and then reentering the country.

The FM-3 is designed for those who wish to live at least part time in Mexico, but do not necessarily intend to make it their permanent home. To be granted a FM-3, you must prove you have sufficient resources to be financially independent, or meet certain requirements to be able to work or own a business in Mexico. FM-3 "Rentista" status is available to anyone with a monthly income (from investments, social security or other retirement) of somewhat less than $1,000 USD minimum, plus under $500 USD for each dependent. If one owns property in Mexico, the amount of income required is reduced by nearly one-half. An individual with FM-3 status, because of the non-permanency of their residency, is allowed to own and operate foreign-plated vehicles in Mexico (see below for additional information).

The FM-2 status is designed for those who intend to permanently reside in Mexico, with qualifications only slightly more stringent than FM-3 requirements. After five years of successfully meeting the requirements of FM-2 (including restricted time out of Mexico), one may apply for "Inmigrado" status, which allows you to enjoy most of the rights and privileges of Mexican citizens, the primary exception being the right to vote. Inmigrado status does not require you give up your native citizenship, but holders may freely work and remain in Mexico without annual renewals of immigration papers.

Bringing Your Car Into Mexico

There are restrictions on bringing and keeping foreign cars in Mexico, but it is helpful to understand that these are designed to protect the Mexican automobile industry against competition from illegally imported cars. Holders of FM-T or FM-3 visas are allowed to drive foreign-plated vehicles in Mexico. Customs’ laws basically state that foreigners may keep their cars in Mexico for the length of time corresponding to their visas. A permit is obtained through the aduana or customs agents at the border entrance point and is renewable through the local aduana. To be able to verify this, a copy of the FM visa should be carried in the car at all times. To drive legally in Mexico, a valid U.S. or Canadian driver’s license is all that is required. New & used U.S., German and Japanese cars are available for purchase in Mexico and the skills of Mexican mechanics, for maintenance and repair at fair prices, is widely known.

Business Opportunities

Mexico welcomes foreign investment, and offers countless opportunities for new businesses. A recent law change now allows foreigners to own one hundred percent (100%) of a Mexican corporation. Bilingual legal, accounting and business consulting expertise is available in the Lake Chapala area or nearby Guadalajara.

Purchasing a Home

When buying property in Mexico there are many factors to consider. With the cost of housing on the rise, purchasing real estate can be a sound investment for the future. There are still some undervalued properties on the market. Although it is no longer a buyer’s market, it is an opportune time to purchase the home of your dreams.

An important criteria to look for in a real estate firm is professional affiliation. The National Organization of Mexican Realtors (AMPI) is active locally, and membership in this group is considered essential. Many local Realtors have direct affiliation with the National Association of Realtors (NAR) in the U.S. and are members of their International Real Estate Section. Brokers and their agents should be affiliated with these organizations.

If you consider buying property in Mexico, you must seek professional real estate advice. Ajijic Real Estate is the professional full-service real estate office. Agents are on call to counsel, when appropriate, and to offer their professional service in locating the property that is right for you. Part of their job is helping you discover what your real estate needs are and then helping you satisfy them.

A Multiple Listing Type Of Service

When looking for a home through Ajijic Real Estate be assured that you will be shown all homes and properties in the area that meet your criteria. There is an active multiple listing service covering all of the lakeside, and Ajijic Real Estate has computer access to all of the participating real estate companies listings through its membership in both AMPI Lake Chapala and GIL (Grupo Inmobiliario del Lago) the two local real estate boards.