Benefits of Permanent Residency Status

[Victor David]

I'm a permanent resident and I bought a house here three years ago. The former owner is from the states but not a permanent resident. He had to pay a lot of tax when he sold.

At the time of the sale, my real estate guy told me that the high tax was precisely because the previous owner wasn't a perm resident. If I were to sell, I would pay little tax. I haven't sold so I don't have first hand experience. Maybe check with your notario.

Big benefit for me is I don't have to renew my visa every year or two years. Keep in mind too that the law changed some years back. After a certain amount of time and/or renewals, you must convert to permanent - or leave.

As a permanent , you can't have a foreign plated car. You have to nationalize it (if it's eligible) or take it out of the country. When I became permanent, my car wasn't eligible and I had to take it back to the states.