Access Lake Chapala has put together a detailed Video Series regarding the most “Common questions when moving to Lake Chapala Mexico & Investing in Real Estate”. It covers many topics that we are constantly asked about and also shows you step by steps processes we go through with our clients when they decide to purchase property in the Ajijic & Lake Chapala Mexico area. You can also see our complete series on our Access Lake Chapala YouTube Channel.
Below is Part 4 of the Series:
What Visas do I need to Buy or Sell Property in Mexico?
There are now 3 significant visas that will fit 99% of most foreigners visiting. Purchasing Real Estate or living in Mexico, and those are the 3 we will focus on. They are the Visitor’s Visa (FMM), the Residente Temporal Visa, and the Residente Permanente Visa.
Which visa do I need in order to purchase property in Lake Chapala Mexico?
A Tourist Visa, that’s it! You obtain it when you enter Mexico either by land, air, or sea. The only requirement for this visa is that you enter Mexico and have a valid passport. These visas are good for 180 days. Once you leave Mexico you simply return the visa to Immigration either at the airport or the border, and the process is complete.
IMPORTANT NOTE: This Tourist Visa allows you to purchase property and even sell it again, but if you decide to sell only having a Tourist Visa you will be liable for the maximum capital gains. It is important to have a Visa Temporal or Permanente in order to exempt up to a certain amount or pay much less Capital gains tax than a tourist visa.
What is the best Visa to have for selling property in Mexico?
A Tourist Visa, Visa Temporal & Visa Permanente allows you to sell property. The best visa to have when selling is a Temporal or Permanente. You will still be liable for capital gains with these, but NOT as much as if you were to sell having only a Tourist visa, since with a Permanente or Temporal you will able to use an exemption, which depending on the sales amount exempts the tax completely or significantly reduces it.
What is the difference between a visa Temporal and Permanente?
TEMPORAL: This visa is perfect for the foreigner who wants to stay for more than 6 months and or wants to keep a foreign plated car here for more than the allotted 6 months as well. This visa gives the freedom of travel in and out of Mexico as much as you want for as long as you want so long as you are here for the renewals.
PERMANENTE: This visa is perfect for the foreigner who wants to stay here in Mexico indefinitely, or permanently. This visa has advantages and disadvantages. Advantages are no more renewals, once this is obtained and the Canje process is finished, you are done with Immigration. One major disadvantage for some is that you are no longer allowed to drive a foreign plated vehicle.
How to I apply for a Visa temporal or Permanente:
This Temporal & Permanente visa must now be applied for outside of Mexico at a Mexican Consulate or Embassy. Please check online with the individual consulate you will use, as procedures for getting appointments with them change all the time. Generally they will ask for a passport, bank statements, pictures, and some forms to be filled out.
Read more details about the Visa Process in our detailed article here: https://www.accesslakechapala.com/guide/legal-immigration/applying-for-visas-to-stay-in-mexico/
At Access Lake Chapala Real Estate we represent your best interest, so for more visit our YouTube Channel and website AccessLakeChapala.com, our passion for the area shows in the content and quality of our website. We have thousands of pictures and videos related to the area including home tours, local traditions, events and more. Let our expertise and passion for Lake Chapala help you find your new home. We have highly qualified agents that can guide you through the process of buying your home. Please do not hesitate to contact us with any questions you might have. One of our agents would be happy to help you though the buying process and we are there for you every step of the way.
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