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morenasa

Feb 1, 2003, 3:31 PM

Post #1 of 10 (2412 views)

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FM3 monthly income requirement

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I've read the various postings and web pages on the requirements for an FM3 and I don't get one thing. If you show past monthly income that meets the requirement and your income comes from a US job which you will be leaving........? I'm planning to move with enough saved up for about a year and I will get a little profit from renting my condo, with which I could survive on in Oaxaca, but it is nowhere near the $800 to $1,000 a month I've heard about. Excuse me, but with that much, I'd live like royalty, and I'm more interested in living like my Oaxacan friends, so I can keep my Oaxacan friends. Once I get there I may or may not open a business depening on how things go (you never know till ya try). But I'm concerned that my situation does not fit within any of the FM categories. My current income which I can show to get the visa will be eliminated once I move. Won't they be able to figure that out?

cryonicsDude

Feb 1, 2003, 3:50 PM

Post #2 of 10 (2311 views)

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Re: [morenasa] FM3 monthly income requirement

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Great question. This is something that concerns me too. I will not have 1000/mon from my interest on my CDs. But I hear that you can just shuffle money from one acct to another in order to satisfy the requirements. But that is going to hurt my investmet return--having to keep that much money liquid. Well, I guess it would only be less than 10K., since you only have to show 6 months of deposits of >1K/month into an acct.

I think that in the end, it is hard for them to determine the source of the funds. I mean, you could tell them it is from investments. How are they to know better?

Rolly

Feb 1, 2003, 4:30 PM

Post #3 of 10 (2276 views)

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Re: [cryonicsDude] FM3 monthly income requirement

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If you have a job that will give you the income for the FM3 application, fine. If that job goes away when you move to Mexico, you will need to come up with some plan to show the required income at renewal time.

You need to show only the last 3 months of bank statements at the time you apply for an FM3 and at renewal time each year. Yes, people do move the same money around to make it look like a steady income.

Rolly Pirate

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sparks

Feb 2, 2003, 6:38 AM

Post #4 of 10 (2225 views)

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Re: [Rolly] FM3 monthly income requirement

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I don't think I can download monthly PDF (Acrobat) statments but I can print screens of activity (I may have PDF, just don't need them now). Is there an acceptable form/fomat to submit. Is the FM3 a yearly renew.

Tx

jennifer rose

Feb 2, 2003, 6:46 AM

Post #5 of 10 (2214 views)

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Re: [sparks] FM3 monthly income requirement

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The FM-3 must be renewed annually during its term.

Each office of INAMI has its own requirements, but generally bank statements downloaded aren't acceptable, because the account holder can alter data on them. Original bank statements are the preferred form.

Jerry@Ajijic

Feb 2, 2003, 6:47 AM

Post #6 of 10 (2213 views)

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Re: [sparks] FM3 monthly income requirement

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It depends on where and with whom your are applying. Some require an original bank statement. It seems that anyone can, on a computer, make up a "bank statement" therefore they really need "the real thing".

Jerry

sparks

Feb 2, 2003, 6:58 AM

Post #7 of 10 (2202 views)

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Re: [jennifer rose] FM3 monthly income requirement

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So people depend on the infamous Mexican mail system ... or are there other methods of delivery. I'd also have some concerns what a Mexico address might do to a persons credit (credit card).

jennifer rose

Feb 2, 2003, 7:08 AM

Post #8 of 10 (2191 views)

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Re: [sparks] FM3 monthly income requirement

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So why not? Millions of Mexicans do. If you're contemplating living here and becoming a local, why not do as the locals do? For those unwilling to cut the umbilical cord to the Old Country, there are mail forwarding buisnesses such as Mailboxes, Etc. in some parts of Mexico. And there's the option of having a bank statement sent to a friend or relative's address in the Old Country, and then having it sent here by Fedex or some other means.

Simply having your bank statement mailed to Mexico doesn't necesssarily mean that your credit card statement must be sent here as well.

But millions of Mexicans (as well as a lesser number of foreigners living in Mexico) do receive their credit card statements and even their credit cards through the Mexican postal system. As long as the bill's timely paid, the cardholder's address doesn't really impact the cardholder's credit history.

DavidG

Feb 2, 2003, 8:07 AM

Post #9 of 10 (2175 views)

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Re: [sparks] FM3 monthly income requirement

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In Reply To

I guess it depends on the office where you are renewing. Here in Cozumel you have to provide original copies of MEXICAN BANK statements. They did say I could use my US bank statements, however they told me if I were to use those, they would have to be "Apostilled". (another can of worms)
DavidG
Villa Dos, Cozumel
"I still believe in ignorance as my best defense"

Gary sculptari

Feb 2, 2003, 11:02 AM

Post #10 of 10 (2157 views)

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Re: [Jerry@Ajijic] FM3 monthly income requirement

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I can see that the offices would have difficulty with this issue of original statements. With today's powerful, affordable and easily accessible computer scanning and printing - nearly any document is easily fabricated.

For example a recent 'test' of US border security, entry from Canada, by US undercover agents, used all forged identity papers created with consumer software/hardware. The problem was that the forgeries were never tested, apparently they were never even asked for ID.