When you spend time with American Ex-Pats here, you will hear the same comments. You will hear about how much Panama feels like home. This remarkable country has a culture and flavor all its own, but more than a hundred years of living and working with folks from the U.S. has influenced life here many ways.

One of the lesser known aspects of the relationship between the U.S. and Panama extends back to the birth of this nation. When Panama was struggling to win its freedom from Columbia in the opening years of the last century, it was military support form the U.S. that turned the tide. Nearly a century of working side by side on the Panama Canal followed. This resulted in an American/Panamanian hybrid citizen that locals affectionately call “Zonies”.

Today, evidence of Panama’s close ties to the U.S. can be seen everywhere. One of the first things you will notice when you arrive in country is that there is no need to exchange money. The U.S. Dollar is the official circulating currency of Panama. As you make your way into Panama City from the airport you will see shopping malls filled with the same brands you have come to love back home. When its time to grab a bite, you will find a McDonald’s, Wendy’s. TGI Fridays, Burger King, and so on. While in town you will probably stay at the Sheraton, Holiday Inn, Hilton, or some other American hotel chain. You will probably rent your car from AVIS, Budget, National or some other U.S. based company. When shopping for your home here, you might end up living in a Trump high rise tower, or one of many others with American names like San Francisco, Pacific Coast, and Palm Beach.

While it is true that you will find many surprising connections with life back home, one thing you will be glad to leave behind is the high cost of living in the U.S. Moving your retirement dollars offshore can help you stretch your income in many ways. For example, when you retire to Panama, you will no longer have to pay taxes on income you earn outside of the country. In addition, if you buy your retirement home with the right guidance, you won’t have to pay property taxes for up to 20 years. These two factors alone will usually save upwards of 30% of the dollars you are now spending back home.

It is also important to remember that Panamanian law allows you to invest and bank in secrecy. The mechanisms that make this financial privacy possible have also produced one of the best estate management jurisdictions on earth.

The people of Panama want you to retire here. As proof, the Panamanian government has instituted one of the most generous senior discount programs on earth. Panama’s “Pensionado Program” provides qualified retirees with discounts on a wide range of good and services. You’ll save up to 50% off of regular ticket prices for entertainment options like movies, theaters, sporting events, etc. Qualified seniors also save 50% off of the price of mid-week hotel stays, 50% off of the cost of closing your home mortgage, 30% off public transport costs, 25% off domestic air tickets, 25% off at restaurants, 20% off of professional and home repair fees, 20% off the already low cost of a Doctor’s care, 5% off of your hospital bills if you are not insured, 15% off of the cost of dental and eye exams, 10% off on local prescription prices… and more!

If you are thinking about retiring in Panama or just visiting to develop an asset protection, business, banking, or investment strategy, make sure to begin by building a strong relationship with a local attorney. There are many third party sources able to help you select the best one for your needs. These groups provide unbiased reviews of providers in Panama’s professional community speeding you to a successful pairing.

For more information on retirement, banking, estate management, taxation, employment, forming a Panamanian foundation or corporation, real estate, trade policy, local economics, vessel registration, obtaining legal counsel, or any other topic related to doing business in Panama… click here

Every new Expat retiree faces the same dilemma when making choices about how to handle their first international move. The big question is always whether to move your existing possessions or replace them with something new when you arrive in Panama?

When making these decisions, it is important to note that shopping for goods of any kind can be accomplished with the same level of ease and convenience in Panama as it in the U.S., Canada, or Europe. Panama offers an abundance of first world shopping options including three of the largest malls in the region.

If you run the math, you will find that shipping most larger sized items will cost you about half of what you would spend to replace it. In most instances, new arrivals opt for an out with the old, in with the new, strategy. They will use the money garnered from an estate sale back home to purchase all new appliances, furnishings, and even automobiles. You will find all of the brands you are comfortable with and pricing in Panama is on par with most first world countries.

When planning the economics of your move, don’t forget that your new life in Panama will begin providing come very substantial financial benefits from day one. If you plan the purchase of your retirement home correctly, you can escape the payment of property taxes for as much as 20 years. Calculate this savings against the taxes you paid back home and you will have more than enough to furnish your new home.

The financial benefits of life in Panama are well known. For starters, you will not pay taxes on income you earn outside of the country. This means that the money you earn from social security, pensions, investments, and business conducted offshore is not subject to local taxes. Panamanian law also allows you to invest and bank in absolute secrecy while providing the mechanisms required to create one of the best estate management strategies on earth.

Another big plus for retirees is called the Pensionado Program. This government backed effort provides qualified retirees with a long list of discounts like 50% off entertainment options (movies, theaters, sporting events, etc.), 50% off of the price of mid-week hotel stays, 50% off of the costs of closing your home mortgage, 30% off public transport costs, 25% off of domestic air tickets, 25% off at restaurants, 20% off of professional and home repair fees, 20% discount on already low Doctor bills, 1. 5% off of hospital bills if you are not insured, 15% off of the cost of dental and eye exams, 10% off of the local prescription prices… and more!

If you are thinking about retiring in Panama or just visiting to develop an asset protection, business, banking, investment strategy, make sure to begin by building a strong relationship with a local attorney. There are many third party sources able to help you select the best attorney for your needs. These groups provide unbiased reviews of providers in Panama’s professional community speeding you to a successful pairing.

For more information on retirement, banking, estate management, taxation, employment, forming a Panamanian foundation or corporation, real estate, trade policy, corporations, tax benefits, local economics, vessel registration, obtaining legal counsel, or any other topic related to doing business in Panama… click here

One of the big benefits of life in Panama is the affordability of local labor. An average of about $300 per month will buy the services of a domestic willing to cook and clean from sun up to sun down. Handymen, drivers, and nannies can be found at similar pricing. This is good news if you are bringing a first world income with you, bad news if you intend to earn a living when you get to Panama.

Labor rates for foreign workers tend to parallel those of local workers. This means that skilled retirees from the U.S., Canada, and Europe will be very disappointed at the compensation they will find in Panama. This is a function of the local labor market, not of any judgments on the relative merits of new comers.

If you would like to work in Panama, your best bet is to bring a business with you, or buy one when you get here. Panama has a long list of economic incentives for new and existing businesses willing to employ three or more Panamanian nationals. You should discuss your choice of businesses with your Panamanian attorney, but you will find that a wide range of opportunities for new ideas awaits. Panama has the fastest growing economy in the region, and the mix of tax, banking, technology, investment, and government incentives found here is the best in the world.

When you relocate or buy a business in Panama you will find that your capital position will get a boost right away. Life in here is simply more affordable than in the U.S., Canada, or Europe. Just for starters, if you plan the purchase of your retirement home correctly, you can escape the payment of property taxes for as much as 20 years. Calculate these savings against the taxes you paid back home and in short order you can save the capital needed to fund the purchase of that little café you have always wanted to own.

The financial benefits of life in Panama are well known. For starters, you will not pay taxes on income you earn outside of the country. This means that the money you earn from social security, pensions, investments, and business conducted offshore is not subject to local taxes. Panamanian law also allows you to invest and bank in absolute secrecy while providing the mechanisms required to create one of the best estate management strategies on earth.

Another big plus for retirees is called the Pensionado Program. This government backed effort provides qualified retirees with a long list of discounts like 50% off entertainment options (movies, theaters, sporting events, etc.), 50% off of the price of mid-week hotel stays, 50% off of the costs of closing your home mortgage, 30% off public transport costs, 25% off of domestic air tickets, 25% off at restaurants, 20% off of professional and home repair fees, 20% discount on already low Doctor bills, 1. 5% off of hospital bills if you are not insured, 15% off of the cost of dental and eye exams, 10% off of the local prescription prices… and more!

If you are thinking about retiring in Panama or just visiting to develop an asset protection, business, banking, investment strategy, make sure to begin by building a strong relationship with a local attorney. There are many third party sources able to help you select the best attorney for your needs. These groups provide unbiased reviews of providers in Panama’s professional community speeding you to a successful pairing.

For more information on retirement, banking, estate management, taxation, employment, forming a Panamanian foundation or corporation, real estate, trade policy, corporations, tax benefits, local economics, vessel registration, obtaining legal counsel, or any other topic related to doing business in Panama… click here

Good news! Aeroperlas is again flying between Bocas (Isla Colon) and David, Chiriqui on Mondays, Wednesdays and Fridays.

Bocas to David: leaves at 12:05 PM
David to Bocas: leaves at 11:20 AM

Round trip prices are $115.60 including taxes and fees. Pensionado and retirees from Panama, get a special price of  $93.70.

Panama Travel Group is an authorized seller of Aeroperlas Airline. Please contact us to help you plan your Panama Vacation.

ROUTES: You can choose between three different tours.

The Arco Chato, Plaza Herrera, Esteban Huertas Road, and the Church of St. Francis of Assisi. To get to know Casco Viejo with the dedication that this patrimony of humanity deserves is not an easy task for those who come for the first time to its historic places.

But now, walking through the alleys of this landmark neighborhood, with the help of a guide who knows the history and architecture of the area is a possibility.

On Fridays, Saturdays and Sundays, the Office of the Casco Antiguo (OCA) is conducting free tours through the area for groups up to 30 people, with a minimum of 15 and may include both adults and children.

This activity explains Vanessa Arauz, coordinator of tours and Tourist Guides of the OCA, is for all people both local and foreign and is being conducted on Friday and Saturday from 9:30 a.m. to 11:30 a.m., and Sundays from 9:00 a.m. to 3:00 p.m.

The attendees, Arauz says, can choose between three different tours: the national, the religious and everyday life.

Choosing a tour on Saturday night (7:00 pm to 11:00 pm) or Sundays have an added value.

On Saturdays, Arauz says, bohemian nights are conducted in the Plaza Bolivar featuring jugglers, fire throwers, dances, among other artists, and Sunday visitors can visit the flea market and buy handicrafts and memorabilia from Panama in the Cathedral Square.

These tours are also held Monday through Thursday, but that cost $25 for a group of 25 people ($1 per person).

To book, call at 209-6300.

For more useful information about moving to Panama contact one of our experts today.

I got the opportunity recently to speak with Drs. Michael and Golda Joseph, the founders of Alta Vita. What a rare treat it was to spend some time with them and learn about their experiences, knowledge and their business.

The Josephs have been in the health, relaxation & alternative medicine business for over 30 years. In 2005, they relocated to Panama to retire and enjoy the beautiful lifestyle Panama has to offer. Shortly after relocating, they realized that Panama was missing the holistic and organic services and products they had offered and enjoyed for so many years. Seeing the opportunity to provide these much needed services to an eager audience, they opened Alta Vita Spa. In many ways, Alta Vita is an urban Oasis of health and beauty in the heart of Panama City. They bring the Holistic lifestyle to Panama that people around the world have enjoyed for so many years.

As a chemical-free spa, Alta Vita believes that you can be healthy and beautiful without harming yourself or the environment around you. Alta Vita offers both 21st century health technologies and all-natural beauty services incorporating products containing fresh fruit, flowers, herbs and organic essential oils for their natural healing properties. All of our exfoliations, polishes, splashes, baths, hair treatments and oils are made fresh daily in our spa kitchen. All recipes are signature and unique to Alta Vita.

Their menu showcases nearly 100 services to best meet your health, beauty, anti-aging, pain elimination and weight loss needs. All treatments can be purchased on their own or in packages at a 10% discount.

Dr. Golda Joseph says, “As we’re a Family run business, we feel that the spa is a second home. We invite all of our members and guests to feel at home with us. We look forward to taking care of you and your family for many years to come and we welcome you to our Family.”

In the 4 years that I’ve spent in Panama, I’ve never found another spa or other health providers who are as dedicated, experienced, knowledgeable, caring or committed. I can’t recommend Alta Vita highly enough and hope to see you there soon.

For more useful information about moving to Panama contact one of our experts today.

Panama is an amazing country with so many wonderful things to tell you about. I’d like to share a personal experience that happened recently to highlight yet another wonderful thing about living in Panama.

My Mom, Melany lives here in Panama. She’s pretty well known in the expat community and has recently started helping our friend Blayne at the Super Gourmet in Casco Viejo.

She enjoys taking walks and it was a beautiful day in Casco Viejo. While lost in soaking up the beauty of the area, she didn’t happen to notice one of so many holes in the sidewalk. These holes are left by thieves who steal the metal covers of various types of meters and access to piping to sell. As her foot fell, she stepped into the hole and the photo to the left is what happened.

Casco Viejo is a UNESCO World Heritage Site. Recently, the government was warned by UNESCO that they weren’t doing a good enough job maintaining the area. This is a perfect example of why, but there are so many more. The Public Works Ministry is awful about fixing the holes that are left by these thefts. The manhole covers in the roads throughout the country being stolen create an even bigger risk to vehicles whose small tires fall in and cause very serious accidents. There are so many solutions to fix this problem, but they’ve still been unable to convince themselves to spend the extra money for covers that can’t be stolen.

I work from home and when the phone rang, was having a relatively slow day because it was my birthday. When I answered, Mom started by saying, “Honey, no need to worry, I’m ok.” (I immediately started worrying) She continued, “I stepped into a hole and have cut my shin down to the bone, about 2 inches long. Should I go to the hospital? Should I come home? I really think it needs stitches, and I’ll need a tetanus shot and some antibiotics for sure.”

My mind ran through the options. In a series of strange coincidences, I didn’t have health insurance in Panama for my Mom. This left me with considering paying to take her to either the private Punta Pacifica Hospital or if I was feeling cheap and lucky, St. Thomas public hospital. As I had no desire to pay $500+ for a few stitches, or to brave the emergency room at St. Thomas, another option came to mind.

I have a friend named Dr. Javier Bernard. He’s a Panamanian Internist who went to medical school in both Costa Rica and El Salvador. He speaks perfect English, is a genuinely warm person, is a very dedicated Doctor and does house calls. His 6 year career has left him with a specialty in anti-aging medicine, he’s a certified flight physician, ATLS (Advanced Trauma Life Support), ACLS (Advanced Cardiopulmonary Life Support) and NRP (Neonatal Resuscitation Provider) certified. Now that’s the kind of guy who should stitch up my Mom.

After a quick call to Dr. Bernard’s cellular phone, he was on his way. He advised us that the stitches could be put in any time within the first 6 hours without concern. He said that he’d need to pick up some special supplies and medicines, but would see us soon. Mom got set up in bed with her leg raised, a little sugar in the wound to control the bleeding and a good book. What could be better than medical care in your own bed, at home? An hour and a half later, Dr. Bernard arrived and we began.

First, a good cleaning and some local anesthetic to kill the pain.

Then he got started closing it up.

Almost there…

And we’re done.

The Panamanian medical system is excellent. I have several friends that are Doctors in Panama. They all agree that in most cases, they would rather be in Panama than the US even if it were themselves or their families that were ill.

I don’t know how this could’ve been any easier or better. Dr. Bernard was thoroughly professional, organized, had his supplies handy, wrote all of the follow-up prescriptions and then called 3 times over the next week to check up on my Mom. He even came back to take the stitches out. You couldn’t ask for a better experience or a better example of why living in Panama is wonderful and Panamanians are some of the best people on earth.

If you’d like to have Dr. Bernard and his team of fellow physicians on call, you can call him on 6539-5959. Their website will be found at www.DrHousecallPanama.com. Dr. Bernard and his team serve all of Panama City and the Panama Gold Coast area from Chame to Penonome. If you’re staying at any of the area hotels and resorts like Coronado, Playa Blanca, Nikki Beach, Bijao, Breezes or the Bristol Buenaventura, this is your doctor for house calls in Panama.

When I was considering moving to Panama, I believed that Panama offers a higher quality of living for a lower cost of living. I still believe that to be true, 4 years later. This experience will continue to be a prime example of why.

Doctors don’t come to your house in the US unless you’re fantastically rich or to take you to the morgue. Even in the rare circumstance that you can get a Doctor to come to your home, it will be extravagantly expensive, forget calling his cell phone and prescriptions will cost even more.  Follow ups? Ha. As is so commonly said here, “Welcome to Panama.”

For more useful information about moving to Panama contact one of our experts today.

From 2nd November 2009 applications for full validity passports will be sent to The British Consulate Washington, USA.

Changes to Passport Operation

In order to keep costs covered, the UK Government is committed to looking for opportunities to reduce administration, centralise excellence and deliver beneficial economies of scale.  These are the parameters we have set ourselves as we introduce more sophisticated measures to protect personal identity, reduce fraud and safeguard UK borders.

The Foreign & Commonwealth Office’s (FCO) Passport Network Rationalisation Project was set up in May 2008 to deliver a more streamlined and efficient passport operation for British nationals abroad, to achieve immediate financial benefits to the FCO and to establish a sustainable operating platform for the future.

The FCO is committed to supporting the UK Government’s National Identity Scheme to:

    Help secure our borders and tackle illegal immigration;
    Prevent identity fraud;
    Become a key defence in the fight against crime and terrorism;
    Enhance checks as part of safeguarding  the vulnerable;
    Improve customer services.

New Passport Arrangements for British Nationals in Panama

What is happening?

Passports for British nationals in Panama will be processed and printed in The British Consulate Washington DC, USA from Monday 2nd November 2009. 

What do these changes mean to me?

From Monday 2nd November 2009 passport applications should be sent by courier or registered post directly to:
UK Passport service for the Americas & Caribbean
19 Observatory Circle
Washington DC
20008, USA
Website: http://ukinusa.fco.gov.uk/en/passports

The passport team in The British Consulate Washington DC, USA aim to issue new passports within 10 working days of receiving the correct documentation and fee (excluding transit time).
Before applying for a passport we suggest that you visit our website at: http://ukinpanama.fco.gov.uk/en
All the relevant passport forms can be downloaded together with information on the application process.

Please Note: Customers should not make any travel arrangements until their new passport is received. The British Embassy Panama cannot be held responsible for any costs incurred as a result of disrupted travel plans.

If you have any questions please contact:

Ana Jones
Vice Consul
British Embassy Panama
* email: http://thepanamanetwork.com ( telephone: (507) 269-0866 extn.2009 ( fax: (507) 263-5138  )  ftn: 8458-2000
Visit our website: http://ukinpanama.fco.gov.uk/en/

You can drive up to 90 days with your country’s DL

To get a Panamanian Drivers License, requirements include:

Passport
Authorization from the Direction of Migration and Naturalization
Blood type
Present a written test about the driving manual and traffic rules
Listen to a speech
The cost of this permit depends on the validity of the document, if it is for less than  3 months it is $5.50 and for more than 3 months it is $20.00

The driver’s license office is located in the Sertracen Building, on Diego Dominguez Street # 508, in Albrook close to Albrook Mall . Notes: Make copies of your passport, home state/country driver’s license and immigration carnet. You can have the blood test done across the street from the drivers license bureau.
From Monday to Friday from 8:00 a.m. a 9:30 a.m.

OBSERVATION: If the person has a valid driver’s license from their own country they can present it to the “Autoridad del Transito” and they will obtain an equivalent Panamanian drivers license without the need to present any written or practical tests. To do so you must have some type of immigration visa in Panama (work, pensionado, reforestation, etc.)

This article is courtesy of Panama Car Insurance.

THE DO NOT’S

DO NOT MOVE YOUR CAR FROM THE LOCATION OF THE ACCIDENT

Yes, I know this blocks traffic and it makes no sense whatsoever, but if you move your car you are automatically guilty even if you are not at fault.

DO NOT ACCEPT RESPONSIBILITY FOR THE ACCIDENT

DO NOT MAKE ANY TYPE OF FINANCIAL ARRANGEMENT

It is very common in Panama to hear this “in Panama we each pay for what happen to our own cars.” Or other people will try to ask you for money instead. Unless you are mechanic or work in the auto industry you do not know how much pieces are worth and that settlement you make will not be covered by the insurance company.

DO NOT FORGET TO GET THE OTHER PARTY’S INFO

Write down the name(s), telephone, cedula/passport number, the license plate number, and the car brand. If you carry a camera or a phone camera it’s always a good idea to take pictures. If there are any witnesses talk to them, they will usually be very cooperative.

DO NOT FORGET TO CALL/CONTACT YOUR INSURANCE BROKER

Keep the company or my cel phone (6676-5151) in your cel phone. If it’s after labor hours call the number of your insurance company’s roadside assistance (you should also keep this number in your cel or place the sticker the company gives you in your car). If it is an emergency feel free to contact us.

WHAT TO DO?

IF I GET INTO A CAR ACCIDENT, WHAT DO I DO?

If there is no policeman nearby then you have to call the Police for them to send over a policeman who will inspect the scene.

Panama City – 232-5614 or 232-6845

Colon – 441-4197

David, Chiriqui – 776 -8125

Each insurance company has motorized drives which come to the scene of an accident and assist you as well as record and take pictures of what occurred.

- AssaMovil 205-0220

- Mundial Assist 390-9090

- HSBC Seguros 265-8255

- Generali 205-0224

- Internacional de Seguros 265-2881

- InterOceanica 265-8255

If the other party leaves the scene of the accident, call a policeman and report that a “colision y fuga” happened to you. The policeman will write a report which you should keep for the insurance company as well as for your personal records to relieve you from any future legal liability.

IN CASE OF INJURIES, WHAT TO DO?IF I GET INTO A CAR ACCIDENT, WHAT DO I DO?

In case the accident gets messy and there are injuries or if you run over a pedestrian, you have the responsibility to help them. Call your insurance company and let them know what happened. Depending on where you are call an ambulance or take them to the hospital. Your insurance company should send you an ambulance or call directly (all companies use one of the two bellow):

Ambulance:

SEMM 264-4122

ALERTA 269-1111, 800-0911

Depending on where you are it’s better to drive the person. Anywhere outside of the main cities, it is better to drive the person to the nearest hospital because ambulances can take a while to arrive.

If it’s your fault and you need to pay for the initial ingression or such, pay for it but first let the insurance company know and keep the receipts. Do not pay for any treatments or surgery. And make sure to take the police report as well.

GOING TO COURT

Thank God your policy covers for legal fees, which means you do not have to go to court! You need to ask for this benefit and there are no costs for it. Contact the insurance company and you will need to take the citation to the insurance company and sign a release of power over to the company’s attorney.

I strongly suggest taking this benefit because courts anywhere are awful, and Panama is no exception to that rule. If you do not go to court and the lawyer doesn’t go for you, you automatically are found guilty and have to pay a fine besides the costs of the other party’s damage.

***Print this article and keep it in your car.

For more useful information about moving to Panama contact one of our experts today.