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Christina Stobbs

Jul 8, 2008, 8:31 AM

Post #1 of 2 (567 views)

FM3 Visas and Capital Gains Tax

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Hello

My husband and I have bought the home in Los Ayala in the state of Nayarit. We have sold our home in Vancouver, and this home will be our principal and only residence. We have put the home in both of our names, and intend to run the home as a bed and breakfast.

In researching FM3 visas and capital gains tax we are confused and I hope someone may be able to advise in more detail.

If we are running the home as a B&B, will an FM3 visa suffice? Or do we need a special visa to run our home as a B&B?

In order to avoid the capital gains tax, should we ever decide to sell and return to Canada, do we both need to have FM3s or should one of us list as the others dependant? I am under the impression that it is better for us to have our own FM3s

Thank you

Christina
www.MagicalLosAyala.com
Everything you need to know!

Jul 8, 2008, 9:10 AM

Post #2 of 2 (558 views)

Re: [Tippy] FM3 Visas and Capital Gains Tax

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You are planning to operate a business, so there are many paperwork things you need to do including getting a special endorsement on your FM3s.

For a starter, read here: http://rollybrook.com/starting_a_business.htm

Rolly Pirate

Pirate