www.MaryKayRay.com: The Wave

Frontier Woman
~The Life and Times of Mary K. Raymond~

~ Living and Thinking Outside the Box

~ Memoirs while Living in Mexico

~ Snipets of My Life Story

~ Things to Ponder

The Wave

There are so many Americans and Canadians moving to Mexico; awhile back I read that it is not just retirees anymore. A wave of families with school age children are making the move. There are many reasons for this, I would say mainly, to de-stress, better quality of life, financially easier to live, and some are just ready for a change. (sure there are other reasons...I just do not want my blog closed down)

There are so many topics to look at with such a move ~ I will review a few in my upcoming blogs. I thought I would touch base on the question I get often asked ...."do I need to file for a dual citizenship?" While I am not legal council and can only refer to what the majority of others are doing - I will share what I know.

I will not be filing for dual citizenship, in fact ~ because I travel back and forth every 6 months I do not even need to file an FM3. HOWEVER, I want to file for an FM3, as it has many benefits. I have been told that if you get a dual citizenship you have more limitations ~ while getting an FM3 allows you the best of both worlds.

I have been told that you retain all your rights as a USA citizen if you hold a FM3, you can drive with your existing license in both the states and Mexico.

AnFM-3 is a one year permit to reside in Mexico. This document makes theholder aNo Imigrante (Non-Immigrant) like thetourist cardbut, unlike the tourist card you are allowed to live in the country foranextended period of time. The document must be renewed each year as longas youcontinue to reside in Mexico. This also allows you to legally keep a car in Mexico and apply forthe Mexican medical insurance.

There are also a number of other benefits to having an FM3 such as:

* you can keep your local drivers licence

* you can bring your household possessions to Mexico

* you can open abank account (in some cases)

* you get a 50% discount on your property taxes

* you can be eligible for a capital gains exemption on your home when you sell

All of these benefits have certain requirements to fulfill but basically it is an easy process which takes some organization and patience. The FM3 must be renewed once a year and costs about $120 USD.

I see why this can be a hard topic to verify and cover; as I tried to do some searches on the internet and did not come up with a lot of up to date information.
All I can say is this.....I have family members that have lived in Mexico for over 20 years and they still file FM3, I read posts from a group that has over 5,000 members in it, and almost everyone speaks of having an FM3. (unless they are working here)

I will go with ~ what has been working for others and keep things simple. If you have any questions...I MAY be able to refer you to someone that can help...just comment on this blog, and I will see what I can do.

Keeping Things Simple~~