Panama anyone?

[David Gordon]

So you've finally decided to expatriate to Panama. Now, what are the steps to getting a Panama Visa and Residency? In this article, we're going to cover the top four visas for expats and break down everything you need to know about moving to Panama.

“Panama is a great expat destination. While technically they do have their own currency, the Panamanian Balboa, which is pegged at par with the USD, they mostly just use American dollars so you don't have to worry as much about currency conversion. Panama's GDP is ranked top 8 of the 33 Latin American nations, which makes it an appealing country to do business.

Property taxes are relatively mild, ranging from 0.5% to 1%, capital gains tax is a flat 10%, and if foreign-sourced, we can legally reduce it to zero. They do have an excise tax of 7% on all nonessential purchases, and luxury taxes of 10% to 15% are applied to hotel stays, alcohol, and tobacco.

Most importantly, Panama is considered a "tax haven" as it is a territorial tax system. What this means for Panamanian residents is that any money you earn overseas is not subject to the Panamian income tax. However, if you do make your living inside of Panama as locally sourced income, you will be taxed accordingly. This is also true for companies in Panama; if your company generates income outside of Panama, it is not subjected to tax on its income.”

More: https://expatmoney.com/blog/the-top-bes ... -to-panama

[sigmoid]

Some friends of mine (retired American couple) sent this message last month:

"We’ve been in Panama for 6 months now and should have our permanent residency paperwork in 30/60 days. As soon as we get that done we want to come back to SE Asia ASAP!

Much too expensive here and the weather here is terrible."

Anyway, that's just their opinion...

[Freightdog]

I liked Panama. Best Hooters I’ve ever been to.

[Tootsfriend]

I liked Panama. Best Hooters I’ve ever been to.

I want to hear more.

[ItWasntMe]

I liked Panama. Best Hooters I’ve ever been to.

Makes sense. In Panama you can't just show up to the work interview and say you identify as a woman with big tits lol

[Bongmab69]

I was in Panama in 2013 just before coming to KOW, and i think the wheather is pretty similar as in KOW, the work-ethic also, and it helps if you speak the loacal language (spanish, and i do), exactly as in KOW;

Of course its more expensive to live overthere, but i think its hard to fnd cheaper then KOW, and for security, i came from Venezuela that time, it was heaven comapred with Venezuela, but compared with KOW i think its similar also.
And Hooters was indeed very nice overthere, and also the Veneto Hotel+Casino, but as far as i know its not open anymore !!

Enjoy it and learn spanish !!

[Freightdog]

Enjoy it and learn spanish !!

They didn’t like my Spanish. The hotel receptionist asked me where I had learned (what little I spoke). Spain! He sniffed, somewhat dismissively, I thought.
Thank the deities I had only said ‘hello’, and asked for a beer.

It seems English, Spanish and French is different in the Americas.

[Bongmab69]

The Panamanian and the Spanish, spanish are as different as english and american, and they dont like spanish people, because what happened som centurys ago. I did learn also spanish in spain, and my ex wive is colombian, but if you tell tel you come from belgium (or ireland), a lot of doors open, as long as you are not spanish (or yank).

[mannanman]

The Panamanian and the Spanish, spanish are as different as english and american, and they dont like spanish people, because what happened som centurys ago. I did learn also spanish in spain, and my ex wive is colombian, but if you tell tel you come from belgium (or ireland), a lot of doors open, as long as you are not spanish (or yank).

Why Ireland?

[Dario]

I tried to reply twice, but my browser, vivaldi, failed me both times.

So here's the short, unspellchecked version:

Panama is really a good country to retire!

Pros:

Tax haven, yes
Residency no problem for 1. worlders, yes
Passport after 5 years, you don't even have to spend much time there, yes, in theory.

Cons:

Unforgivingly hot, like SEA in march/april
not talkin about el valle or the highlands near Costa Rica where even more of US asians accumulate.
The expat community is at least 70% USA wherever you go
Cultural wasteland. Unless you're into indegene folclore culture.
(I was in Panama City at the time of their x? Jazz festival & eager to go since i love Jazz. But when i realized what the venue was & that only the social/economical elite would attend, i decided to not participate).
Crime. That goes for all of latin america

I might, so far, have forgotten a lot to mention

As for living costs:

It is definitely not expensive
Starting with renting costs:
The safest district is el cangrejo, where all the foreigners cuddle. It's the safest,(lotsa police presence), most expensive.
You can also live in Calidonia, not really dangerous if you keep up your guard, get a clean apt for 300$ a month.
Or you can live in El Dorado, an upscale neighborhood, my favorite, since it's like the Hollywood hills of Panama. You can rent a house there from 800$ up.

In between my two stints in Panama i was in the
Dominican Republic, total shithole
and
Colombia, Medellin, Cartagena, back to Medellin
which was Paradise
why?
It's called the city of eternal spring. At 1300 mt above sea level, the climate is just perfect, around 25 degrees Celsius all year around.
Living costs are a joke. With 1500$ you can really live a comfortable life including maintenance of a gf

I plan on going back shortly, discover Cali, Bolivia, Paraguay, Uruguay...

Who knows
SEA is the much safer choice, (as far as physical crime is concerned).
I spent many good years there, (was in jail too, but it's not as bad as they say)
I just feel that for me it was time to move on, the world is a big plot

I'll probably pick up where i left before Covid