Introduction and Questions!

[maesonna]

Originally Posted by RVGRINGO

...the visas must be renewed annually with continuing proof of income from outside of Mexico.

Just a little clarification on an exellent post. The income doesn't have to be from outside Mexico.

[RVGRINGO]

It is hard to cover all situations in a short post, but your comment is correct in the case of a person who has obtained a working endorsement on their visa and has the ability to work in Mexico. Another situation would be one with major investments in Mexico, producing income or sufficient resources to support oneself.
The most common situation for an FM3 in the Lake Chapala area is the 'No Inmigrante Rentista' (non-immigrant pensioner), although there are other classifications.

[Joeysmom05mendez]

How much would I have to invest in Mexico to get a return that would support us? Can you tell me in US dollars (I'm still learning about Pesos)?

[f3drivr]

Mexican banks are paying very low interest rates right now just like everywhere else so it would probably not be feasible to try to live off of interest from Mexican investments. It would also be a bad idea to convert large amounts of money to pesos because the peso could devalue like it has in the past. When I went to Mexico in the early 1990's it was around 3 pesos to the US Dollar and now it is 13. Imagine if you had converted your life savings to Pesos back then. Fixed income investments in the US and Canada are paying very low returns right now as well. If I were going to try to live off of investments right now I would either buy property and live off of rental income or stocks in good solid companies that pay dividends. In today's economy there is risk no matter what you do.

[Ana Hernandez]

ok, you have received some good advice, and some comments that I think people assumed things they should not. Now, as far as importing children's clothing to sell, it can be done, and done so cheaply without smuggling. I did NOT see the word 'smuggling' come up in your OP, and for the life of me can not understand how that would have been assumed by the wording of your OP. the duty on the clothing is very cheap and can be sold for a nice amount. Say you buy a child's outfit for 7.50 in the states, you can take it over the border, pay a small duty on it, and sell it in Monclova for around 12.00USD. Your profit would be a comfortable on. you have to take your gas driving back and forth, and duties into consideration.

Restaurants seem to be doing very well in Monclova, as you saw when we were there on a research trip recently. If you will leave your money in investments here, and move ONLY what you need to Mexico as you need it, you will find that you will not lose money that way. I thought we had discussed this already. Keep all statements, as you will need them to prove you can support yourself as stated previously by another poster.

As for the CD ROM you are working on, your target market is NOT Mexico. what Mexican child needs to learn Spanish?! Your target market is here in the U.S. where pirating software is not only against the federal law, but can be pursued in the courts here for a substantial amount of money of which you will never see, but you will make your point when all is said and done. You could go out on a limb, and write. possibly childrens books? target the U.S. for your main market.

There have been other businesses we have discussed, all doing well in Monclova. You will do ok, and you need to stop worrying. you are going to have to go, make the best of it, and make it work. Listen to what Antonio, Luis, and others are telling you, and you will do fine.