# FM3 vs FM2



## Traveler123 (Feb 1, 2009)

Does anyone know why the minimum monthly income requirement is higher for an FM2 than for an FM3? Can people renew an FM3 after having one for 5 years?


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## RVGRINGO (May 16, 2007)

I suspect that they want to be sure FM2 folks, who may proceed to stay forever, truly have more money for the longer term.
Yes, you can get a second FM3 after the first one has been 'used up' in five years. We've done that.


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## Traveler123 (Feb 1, 2009)

RVGRINGO said:


> I suspect that they want to be sure FM2 folks, who may proceed to stay forever, truly have more money for the longer term.
> Yes, you can get a second FM3 after the first one has been 'used up' in five years. We've done that.


Thanks. Do you have to continue to renew the FM2 after the initial one, and if so, what is the minimum income required? Does the renewal amount stay as high as the initial amount for am FM2?


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## RVGRINGO (May 16, 2007)

Yes, the FM2, like the FM3, is renewed annually until the fifth year. Then, you may apply for a new one or apply to change your status to 'inmigrado' or apply for naturalization as a citizen. 
Renewals cost less than the initial applications in both cases.
I estimate that the cost of an FM2, as well as the income requirements, are about 180% of an FM3.
These peso costs are based upon a multiple of the minimum daily wage in Mexico and do creep upward from time to time. Of course, another variable is the exchange rate, from our point of view.


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