Puerto Peñasco, also known as Rocky Point, is located about 60 miles south of the Arizona border. It serves as a popular beach getaway since it is only 4 hours from both Phoenix and Tucson. It has a population of 60,000 and a large tourist and RV population that fluctuates throughout the year.
Over the past several years, Peñasco has been changing and molding to meet demands of discriminating vacationers and offering more resort amenities. FMI Rentals offers spectacular vacation rental homes, condominiums and services that provide you with a first class vacation experience.
At FMI Rentals, we pride ourselves in making the most out of your vacation. If you are a homeowner in Rocky Point and would like to rent it, our Property Management service will help take care of your needs. Owning property in Mexico doesn’t have to be stressful when you have local, knowledgeable, and trustworthy help.
BUSINESS IN PENASCO:
Foreigners running businesses quickly discover they need to pay yearly fees for immigration and business permits. Along with a knowledgeable accountant to negotiate them through Mexico’s layers of monthly and yearly business tax system. And they may discover that many businesses may be seasonal relying almost exclusively on weekend tourist visitors that may visit only a few months out of the year.
Other foreigners starting up and operating manufacturing, processing or products concerns may or may not stay at full production capacity year round. Accounting practices differences may present problems, numerous business authorization permits may be required by authorities, and trade unions actually representing the Mexican Government or national political parties themselves may be effecting profitability.
However, the opportunities for profitable business are here. And like any investment, the potential foreign investors should always do their homework prior to entering a new foreign market or venture.
Puerto Peñasco is now in a tourist commercial development stage as tourist related services businesses – bars, resorts, restaurants, cafes, real estate offices, property rentals, sandwich shops, gift shops, golf courses and condo projects are in the forefront.
Most housing developments are located outside the city of Puerto Peñasco within the local government’s designated ‘Tourist Zones’.
FM-3/IMMIGRATION/PERMITS:
To own property, or perform even minor home maintenance/chores all foreigners are required to submit the currently required Mexican Immigration forms and pay the required fee’s to get a valid FM-3 Immigration permit. It must be renewed along with the required fees and paperwork each year for the first 5 years after which it becomes permanent. This document does not grant Mexican citizenship to the holder.
