Monday, 28 January 2019 17:54

Residing in Panama

PanamaLive and retire in Panama

Panama, described by the Panamanians as being “the center of the world, and the heart of the universe” is a country that has been unfairly forgotten by mass tourism since here, in a territory that comprises little more than 75 thousand square kilometers, you can find the same variety of climates and scenery that is found in Brazil which has an extension that is 1000 times larger. But, this is also very lucky, because we can define Panama as being the best kept secret to discover. The Republic of Panama, even though relatively young—in fact, the declaration of independence only goes back to 1903—occupies a position that is politically and geographically very important, also thanks to the fact that it is a bridge that connects the Central American countries to those of South America. 
The country offers great advantages to those who would like to live here. Panama is not hit by:
•  Large scale earthquakes
•  Hurricanes or cyclones
•  Terrorism
The government is stable, and the democratic process is consolidated.
The location between the North American and South American continents and facing the Caribbean offers the possibility of movement at a low cost.
Anonymous companies and private interest foundations, supported by offshore legislation, practically unchanged since 1932, are the best keys for protecting capital at an international level.
The government offers the best program for “pensionados” (retirees) that can be found, the only one that you can adhere to at the age of only 18. Furthermore, the country facilitates residency even for investors or simply for financial solvency and offers the possibility of getting a passport in little more than 30 days.
The cost of living is definitively low, even though this obviously depends on the life-style. 
Remember also that any activity or investments from outside the national territory is not taxed.
The medical, banking and telecommunications structures are the envy of the more-developed countries. Panama is mostly known for the canal which connects the Atlantic Ocean to the Pacific and for its offshore centers, but it offers an incredible variety of attractions: tropical forests, banana plantations that stretch further than the eye can see, coffee plantations, volcanoes, trekking paths and enchanted islands and white beaches that are in no way inferior to the Caribbean—very white beaches, clear water—and then nature, folklore, culture. 
The population is calm and friendly. The official language is Spanish, but English is spoken in many offices. The geographic conformation provides microclimates for all tastes. Panama City is an “Americanized” city, with the new part of the city full of skyscrapers, shopping supermarkets open 24 hours, and hotels and a Coloniale. Just go a few a few miles out of the city to find yourself on the seashore, in the mountains or in a tropical forest.
The economy avoided recession in 2009 owing to a series of mega-projects, but fiscal constraints will curb the administration's ability to follow through on election promises of massive infrastructure spending. Private consumption and fixed investment will lead an acceleration of real GDP growth, which we expect will average to 3.6% in 2010-11. Annual inflation is forecast to continue to rise moderately in 2010-11.
The Economist Intelligence Unit (EIU) have ranked Panama 52th out of 160 countries on quality of life index. Civil liberties, life expectancy and employment have improved but corruption remains high, for good or bad.
Real estate in Panama costs 50% less than it does in Europe. You can find some bargains from properties taken over by the bank (used apartments, houses and land). If you are interested in this type of investment, we offer the service of sending monthly offers to the major banks, which includes participation in your name of any auction and the orientation of what types of property you find most interesting. The cost of the service is 600 euro during six months.

We offer several Residency progarms and Visas depending on your Nationality, please contact us for more information This email address is being protected from spambots. You need JavaScript enabled to view it.

Monday, 28 January 2019 16:33

Advantages of a Panamanian Passport


Panama second passport for investors

The financial crisis has left all of us worried. Some believe that the worst part has passed, but in other parts of the world, like Greece, for example, they definitely don’t agree. Therefore, in this era of increasing financial restrictions, and with taxes trying to take away more money, it is very logical many try to send their money overseas. For this reason, the option of a second passport or alternative citizenship looks very interesting.
We are assailed with various questions about whether or not to get a second passport. For example, why should we want one? What places are the most secure and offer the most benefits?
There are multiple reasons why to look for a second passport. Perhaps our birth country’s image is tainted or maybe we want to be identified as citizens of another country it benefits our businesses. 
One of the biggest advantages of having a second passport is related to free banking. Some banks limit the opening of accounts by people who come from certain countries, but with a second passport, you can overcome this obstacle with a problem.
However, it is important to be very careful because on the internet today you can find many offices that offer services to easily obtain the second passport expected. Not all of these are real. Unfortunately, fraud also is present and these scammers, the ones that want to keep your money, send you a fake passport, and then when you use it, the police will detect deception and you can get yourself in some serious trouble.
The first piece of advice is that we must assure ourselves that we are really dealing with a lawyer and that he or his firm has a phone number that can be used to talk regularly. Furthermore, we have to carefully study the country in which we are trying to get the second passport. It’s most important to study the laws, civil liberties and also military service, especially if we have kids and don’t want to be called later on by a government official stating that our children must perform an obligatory military service.
Nevertheless, we are left with a question – what country should we pick? Logically, this should be the one that offers us the most advantages, from all points of view. There are many countries in the world that offer quick ways to ensure a legal passport, by way of economic citizenship programs. These programs require a cash payment in exchange for a second legal passport. It only takes a few days to several weeks to have a completely functional second passport and, best of all, the transaction is legal.
Panama is one of nations that offer the most advantages. For example, this passport can be used to apply for visas to different countries. Panamanian residents, generally, don’t have problem obtaining visas to travel to countries like U.S.A. or Canada.
Furthermore, the list of countries in which you don’t need a visa with a Panamanian passport is really quite long: France, Paraguay, Chile, Argentina, Finland, Luxembourg, Spain, Colombia, Honduras, Portugal, Peru, Holland, Greece, Bolivia, Israel, Nicaragua, Ecuador, Switzerland, Austria, Korea, England, Poland, El Salvador, Hungary, Guatemala, Denmark, the Dominican Republic, Germany, Uruguay, Costa Rica, Brazil, Norway, Belgium, and Sweden. If you wish to visit another country that’s not on this list, you merely need to apply for a visa.
Another advantage of the Panamanian passport is that the procedure isn’t complicated nor does it take a lot of time. The laws established by this country are at the will consider giving a passport or residency to those people that qualify as a pensioner or a retired annuitant. The requirements for this type of visa aren’t difficult to comply with. It is necessary to provide a Power of Attorney, a medical certificate of good health, a list of any relatives who’ve been incarcerated in the past five years (as a translated and authenticated document), as well as a police record expedited by the Police of a Panama. 
It is also essential to have a certificate expedited by the National Bank of Panama, certifying that the interested party will have an income of US$850. This income will come exclusively from the interest made off of fixed-term deposits and will be free from all charges or warranty of any kind. Another obligation is to have a valid passport and a copy of all of the used (stamped) cages, two sets of copies of the entire passport, two sets of copies of all of the documentation, expect the passport. 
This visa will be good for 5 years. After this time, a renewal for the same time period can be applied for, as long as time deposits are still made to the National Bank of Panama.
With this passport, people are exempt, for example, from paying taxes on the import of a car every 2 years. Taxes on the import of furniture up to US$10,000 are exempted, as well as taxes and discounts on services in Panama, like light, water, telephone, hotels, and airplane tickets, amongst others.
Therefore, in reality, it doesn’t seem so complicated. The first thing will always be to guarantee the deposit of approximately 260K U.S. dollars, which will guarantee US$850 in monthly interest. After following the required steps, we will have the longed-for passport in our hands, in about 3 to 6 months after the bank deposit was first made. The length of the process depends on the nationality of the person who is applying for the Panamanian passport.
Financial insecurity continues to be troubling many people and since governments try to take more money away by using the media, it is no surprise that more and more people are looking to get a second passport as an important step in securing their money overseas, in countries where it can be secure and protected by the country’s laws. Panama, undoubtedly, offers multiple guarantees which many consider a sufficient enough argument for seeking an always useful second passport from there.

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