MexConnect.com Forums: General: Living, Working, Retiring: What's wrong with my thinking on this? (warning: fm3 vs fm2 question): Page 2

Forums > General > Living, Working, Retiring

1 2 View All

latitude26

Jan 28, 2006, 11:50 PM

Post #26 of 34 (795 views)

Shortcut

Re: [sfmacaws] capital gains tax

Can't Post | Private Reply

Jonna-

See if this link helps with your capital gains tax question

http://www.bajainsider.com/...xico-real-estate.htm

Enjoyed your blog and photos, by the way.

sfmacaws

Jan 29, 2006, 2:05 AM

Post #27 of 34 (791 views)

Shortcut

Re: [latitude26] capital gains tax

Can't Post | Private Reply

Thanks for the link. I read it and now I'm even more confused as it says a couple things I hadn't heard before like if you have 2 houses more than 50% of your income must come from within Mexico and that you need an FM2, at least in the Baja. I'm guessing that like most things in MX, it changes depending on where you are. I think my friend is going to go to a notario in Cancun and pay for their opinion. I'm a bit interested in this issue myself as if there is a length of time you have to have an FM3 or if you have to have an FM2 I might want to get one soon so I will have options in a few years.

Glad you like the blog and pics. I've been pretty sick this last week and haven't updated it, nothing to put except hacking coughs and shopping for tela in Cancun.

Jonna - Mérida, Yucatán

Esteban

Jan 29, 2006, 7:43 AM

Post #28 of 34 (776 views)

Shortcut

Re: [sfmacaws] capital gains tax

Can't Post | Private Reply

In Mazatlan, if you don't want to pay capital gains, you have to have owned your home for at least six months, have an FM-3 and have a water bill in your name. Every notario may not interpret the law this way but I do know of at least two who do and none who do not.

sfmacaws

Jan 29, 2006, 10:29 AM

Post #29 of 34 (749 views)

Shortcut

Re: [Esteban] capital gains tax

Can't Post | Private Reply

Yeah, I'm guessing it is bit of the 'local option' thing and that the rules change by area and by notario. The best bet probably is to hire a notario now and get an idea anyway of what they want to see in this area.

I had been kind of blythly going along figuring what you outlined was what I needed, I have it all except the FM3 and that wouldn't take long if or when I decided I wanted to sell. Well, no water bill as there isn't one to have. But I have electric and phone and and I've owned the place for 7 or 8 years. I'd like to put off the FM3 as long as I can as it is more of a hassle for me than an FMT but if I need to get one now I will.

Jonna - Mérida, Yucatán

Esteban

Jan 29, 2006, 10:38 AM

Post #30 of 34 (746 views)

Shortcut

Re: [sfmacaws] capital gains tax

Can't Post | Private Reply

Plus you have your 7 year old fideicomiso right?

lmaxine

Jan 30, 2006, 9:47 AM

Post #31 of 34 (696 views)

Shortcut

Re: [RexC] What's wrong with my thinking on this? (warning: fm3 vs fm2 question)

Can't Post | Private Reply

I disagree about not having to renew the FM2 every year. You do. It's the same process as with the FM3. My FM2 expired in October and I applied for Inmigrado. After Inmigrado, you don't have to renew it any more-it's unlimited. The scrutiny of the applicants is stronger for Inmigrado. I heard about one woman who was turned down because she didn't have enough income and didn't own her house. I'm assuming I will be accepted, but still don't have it in my hands.
"He upon whose heart the dust of Mexico has lain will find no peace in any other land." Malcolm Lowry

slats

Feb 7, 2006, 2:23 PM

Post #32 of 34 (624 views)

Shortcut

Re: [jennifer rose] What's wrong with my thinking on this? (warning: fm3 vs fm2 question)

Can't Post | Private Reply

In Reply To

After the fifth refrendo, the FM-2 holder may apply for inmigrado status, and, once granted, there is no annual refrendo required, the individual having obtained the E ticket status as a permanent resident alien.

So you need to have an FM-2 to make the move to inmigrado?

I'm trying to figure out what's best for me personally. I'd eventually want to get inmigrado status, I believe, but in the meantime, I'd have no desire at all to work in Mexico.

The advantage of a Banamex Visa vs. the visitation limitations would seem to have me leaning in an FM-3 direction.

From what I'm reading, the foreign plated car route seems to better fit my needs, too.

hassmarciaj

Mar 12, 2006, 2:46 PM

Post #33 of 34 (514 views)

Shortcut

Re: [jennifer rose] What's wrong with my thinking on this? (warning: fm3 vs fm2 question)

Can't Post | Private Reply

In Reply To

That is not correct. The FM-2 holder, who is an inmigrante, must apply for a refrendo each year. After the fifth refrendo, the FM-2 holder may apply for inmigrado status, and, once granted, there is no annual refrendo required, the individual having obtained the E ticket status as a permanent resident alien.

Time allowed outside of Mexico on FM-2: I have read 180 days total time in five years spent outside of the country if one has an FM-2 and in another post, 18 months. Which is it. A very big difference. Marcia Hass

Rolly

Mar 12, 2006, 2:49 PM

Post #34 of 34 (512 views)

Shortcut

Re: [hassmarciaj] What's wrong with my thinking on this? (warning: fm3 vs fm2 question)

Can't Post | Private Reply

18 months, not days.

Rolly Pirate

1 2 View All