Expat Community > Panama

ptyexpat
Joined 2015
Posts: 427

So you want to move to Panama?

3 years ago

Did you know that Panama has raised the standards for a migratory visa largely because of a lot of bad experiences from undesirable expats in the past who engaged in unlawful criminal conduct and contributed nothing to this fascinating country?

Ok so you want to live in this enchanting land among Panama’s wonderful people but do you really have what it takes and how do you think Panamanians will perceive you live in their country? Would you even care about the perceptions?

To answer these questions you must first perform a self assessment starting with your own motivation(s) for wanting to live in Panama.

Are you motivated by your desire to contribute to Panama’s rich culture and wonderful people, driven by a desire to give more than you take, set a good example by respecting the laws, adapting to the local norms, integrating into Panamas way of life instead of importing your own expectations that often clash with Panama’s centuries old ways of doing things?

There are many considerations that you need to carefully examine, for example do you have a useful skill set? Can you support yourself and your family if you move to Panama without needing a job down here?

Do you have a clean criminal history?

Are you medically fit to live in a developing third world country with limited medical services? Do you plan to purchase a home, car and open a bank account?

Do you understand the impact of tax implications if any from your home country and can you actually afford to live here comfortably, that is to say maintain a similar standard of living that you had in your home country?

Do you speak Spanish and can you live in a local community without the assistance of others?

Do you know if you will be accepted by the locals in their communities and do you have a plan “B” if things don’t work out?

How do you know if you’re really ready to live in Panama and embrace a life style that may be a big departure from what your accustom to in your home country?

Living in Panama can be similar to what life was back in the 1950’s or even the stone age in isolated and under developed places in the interior.

Can you meet all the migratory requirements to obtain a resident visa?

Have you ever visited Panama and what is the source of your limited knowledge about Panama? Have you selected a place to live and thoroughly scouted the location out?

Are you flexible enough to adjust to new situations that you did not anticipate and can you overcome isolation from family and friends back in your home country?

Experience demonstrate the no matter how much you believe your family and friends back home will maintain contact they eventually forget all about you. Ever heard of the old expression “out of sight out of mind”?

Why are you coming to Panama?

Are you running from an unpleasant situation in your home country all the while expecting Panama to resolve your problems? Perhaps running from the law? Wouldn’t be the first time.

Have you decided to ship a car and house hold good in a shipping container and do you understand the legalities associated with shipping your property to Panama?

Can you maintain a positive attitude if and when things don’t always go your way?

Do you think you’re smarter than the Panamanian people that you want to live among and can you accept them for who they are and how they choose to live in their country?

Do you plan to hide out in one of those gated communities dominated by foreigners who don’t recognize the value of properly integrating into Panama’s way of life?

Can you live without all the bells and whistles, modern infrastructure and instantaneous gratification typical of the North American mentality?

Can you adjust to a new diet, hotter weather conditions, high humidity, rain and wind 9 month of the year?

Can you live with unstable & intermitted cell phone and internet service, frequent power and water outages?

Can you function independently if no one is around to solve your problems?

Do you plan to leave Panama better than you found it and do have the desire or ability or to gain the respect of those around you including other more experienced expats?

How did you discover Panama and in your mind what sets Panama apart from other good and well known retirement destinations?

Do you know much about Panamas history, how many holidays there are and what do they represent?

Can you afford to loose every last dollar of capital you invest in this country if things don’t work out and you end up leaving on short notice? Happens all the time.

Why do you think somebody would ask these questions and do you feel uncomfortable pondering them or offering up your own questions and answers in a public forum like this one?

These questions and consideration are only a tiny fraction of what you will need to ponder if you want to move to a place like Panama and be successful over the long term.

Good luck and feel free to debate these questions or any others you may have concerning your relocation plans for Panama.

Nobody got here by themselves so we in the experienced Expat community are here to help.

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

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SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

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