If you are planning on retiring to Mexico, either on a full-time or part-time basis, you must meet the following requirements in order to qualify:
Must be over 50 years of age
Wish to engage in activities that do not pay you
You are receiving money, either from investments, pension or fixed income, in the amount not to be less than 400 times the daily minimum wage per month ($52.08 pesos as of 1/09) and a further 200 times the minimum wage or each dependant (spouse, child) per month.
An FM3 visa is a non-immigrant residency visa and it allows you to come and from Mexico anytime you wish via any type of transportation. It is renewable yearly. You will need to take your application and documentation to any Mexican Consulate or Embassy.
Requirements for an FM3 visa:
Original and two photocopies of passport
Original FMT visa
Five passport size photographs
Original bank statements
Original proof of Mexican address eg. Utility bill, lease agreement or bank statement
FM3 visas can be obtained in any US Mexican Consulate’s office or an Embassy
If you wish to live in Mexico permanently, you should apply for an FM2 visa. After holding an FM2 for five (5) consecutive years, you can apply for immigrant status.
Requirements to apply for an FM2 visa:
Complete form FM1 Form
Declaration under oath of all exit and entrance regarding travel from Mexico
Original and two photocopies of passport
One (1) passport size picture
Receipt of appropriate fee for $2,350.00 Pesos (as of 01/09) payable Bank payment or Internet payment
NOTE: Any time accrued with the FM3 visa does not go towards the required five (5) years.
Related Forms: FM3 Form, FM1 Form