Aug 23, 2010, 1:29 PM
Post #5 of 11
1) -- Yes, in the past people have used "tourist" visas to live in Mexico, with six-month trips across the border and back. However, INM now is computerized, and seem to be making an effort to more consistently enforce regulations, so I don't think one can assume that this would continue -- after all, it is circumventing the purpose of the regulation, so it makes sense that at some point there could be a "crackdown". It's probably fine for the short term, but as a long-term strategy for staying in Mexico, maybe not.
2) As Casa indicated in the post above, regulations have been interpreted differently in different offices. In my case, in Merida Yucatan, I've been using statements from a Mexican investment company (Actinver/Lloyd -- formerly Lloyd) for many years -- the total investment is around what the yearly requirement is. I keep that money in that account as "emergency" funds, and also to satisfy INM, but actually use other funds to live on. Others in Yucatan have used statements from US investment accounts to meet the solvency requirement for the FM-3 rentista, but policies/practices change from year to year (as the heads of the INM office in each city change, for example), and may be different in different offices.
Sounds like your best bet is to come to Oaxaca for six months, on a tourist visa, and check things out. Talk to INM in Oaxaca, or to other expats in Oaxaca, or to a lawyer in Oaxaca who specializes in immigration services.