Tretyakovskii
Joined: 14 Aug 2009
Posts: 462
Location: Cancun, Mexico
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 Posted: Sat Nov 27, 2010 11:35 am Post subject: |
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| Actually it's a myth that you are required to hold an FM3 for 5 years before obtaining an FM2. |
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| It may not be a myth (since that's what I was told when I applied for my FM3 in 2008), but perhaps the rules have changed since the system was overhauled in spring of this year. |
It's not a myth here in Quintana Roo, anyway. The local practice is to require five years, and that's what I was told, again, when I first went to inquire about making the change, a week prior to submitting my request. The agent looked at my FM3, observed that I had not yet done my first renewal, and said I'd have to wait until I'd completed four renewals, before I could go to FM2.
The law seems to permit either FM3 or FM2 status, and we read that that was the case when we were doing our research before moving to Mexico, but under local practice here in Qroo, it seems, it's five years in FM3 status, with certain exceptions.
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| Our local office has been busily changing documents from No-Imigrante (old FM3), to Imigrante (old FM2, first 5 years). Without the Imigrante status, foreigners are now subject to a healthy Capital Gains tax when they sell their properties (thanks to new tax laws, or new enforcement of old ones!), so this is one of main reason foreigners are suddenly switching. |
This is a possible interpretation, but more of them may simply be complying with the new rules applying to FM3 holders who have had four or more renewals of their FM3s: they are now being compelled to switch to FM2s, or to let their FM3s go completely and start over again, with a new FM3. The new rules don't seem to permit limitless renewals of FM3s, as did the old rules.
On the capital gains question, we were told recently, by our lawyer, that those who live in their properties are not subject to capital gains taxes, regardless of FM3/2 status. |
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