My Life in Panama vs Nicaragua 🇳🇮 🇵🇦
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- čas přidán 30. 04. 2023
- ExPat Digital Nomad living in two of the most interesting countries in Central America. How are Nicaragua and Panama similar, and how are they different? Comparing My Living Experiences in These Two Countries as ExPats
#Panama #nicaragua #panamá #expat #digitalnomad
24 April 2023
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Boquete has the largest expat population in Panama. Approximately 3000 expats are here in Boquete. There are 80 restaurants in Boquete. It's in the mountains, unlike the coast or Panama City. Consistent weather of 75 degrees most days & 65 at night. No heat or AC is required in Boquete. There are 4.2 million people in Panama as of the 2023 census. Almost 2 million in Panama City & the outskirts. A bus ride from David to San Jose is 10 hours.
Thanks for posting a great video! This is how I thought it would be. 😊
My pleasure!
I love your style Scott. You talk about frugality like it should be a normal mindset. I can't wait to double or triple my retirement savings and Nicaragua sounds like a perfect destination to explore the options.
jaja. Never thought about it that way.
Scott, You are incredibly insightful. And your ethics come through. Love your videos, especially because of your deep and humanistic analyses.
Wow, thank you! Very appreciated.
Very interesting.
You are very observant, very spot on with your analysis 🧐.
Thank you!
I hate high rises but I have lived in Panama for 24 years. I live in the country. Maybe I should spend some time in Nicaragua. I am fluent in Spanish. That should help in Nicaragua.
I love high rises, I wish that we had them too. Panama has some epic high rise districts. Wow, 24 years is some serious time. Are you in the city?
Interesting Scott!,I have only been in the airport in Panama connecting to another flight.
Great country, and PTY (Panama City) is such a fantastic city. Worth taking a long layover and enjoying the town.
@@ScottAlanMillerVlog oh yes,I will.They 70 stories high buildings!
At 11 36 if you fall into the pooret category you are ......silence you were trying to use another word for f-ed, which in this context is appropriate I think because its the best word to describe it.
Yup, that's totally me going "can I say this, how far into the video am I..... hmmm".
Very interesting Scott! Great stuff. I believe you said you had visited and/or lived in Costa Rica as well. Is CR like Panama more or less? Thanks!
Yes, several times. Honestly no. CR is MORE like Panama than like Nicaragua. Actually, even that might not be true. It is certainly its own place. Culturally CR is like Nicaragua. But with Panama's money. But with loads more US influence than either.
@@ScottAlanMillerVlog Thanks Scott! I don't know if an expat enclave would suit me TBH, that's why I ask.
@@jackbaldwin3649 Costa Rica tends FAR more towards the enclave life. Panama has more enclaves than Nicaragua but has lots of non-enclave living. But Nicaragua has the fewest enclaves.
panama is central america more than south america, we are very lay back and chill but since we are very hard worker and try to be the best we must compete because we have so much u.s.a influence,european and asian that if we dont step up asians, europeans will crush us, so thats why you see everything nice and clean but theres some parts which are poor that do not look like downtown etc but yea your pretty right in everything very spot on, Panama is more like chill panama time but when its time to work we go hard like u.s.a style
Only geographically. Historically Panamá is more South America. The states that composed the Central American Federration were Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. All of them declared independence from Spain on September 15, 1821. In 1823 they formed the United Provinces of Central America under Gen. Manuel Arce.
To the contrary, Panamá's independence was on November 28, 1821 and opted for the Gran Colombia under Simon Bolivar.
Which country is better Nicaragua or Guatemala to live in?
I really pay attention at this video and i agree with you rigth on the spot almost everything that you said is true except that panama is from south America or belong to colombia thats not true .. panama is part of central America that colombia wants to claim it thats another history but Panama always will be part of central America. Im from Nicaragua but i live in United States sinced 1988 . I visit both countries Panama and Nicaragua once a year sometimes twice . And i loooooveee panama but Nicaragua is more way affordable and like you said nicaraguans also can afford to go out and enjoy their country as equal as the foreigners or tourists . I love my country Nicaragua . Recently i was there in august 23 2023 also i stayed in panama couple days before get into my home country Nicaragua . I watch your videos . 👍 good stuff
Thanks. I need to get back to Panama. I lived there in 2015 and really miss it.
Went out to Panama recently to consider moving there. Because of the mining protests still going on, we only got out to see El Valle and Las Tablas and couldn't make it to the 3rd leg of our trip out to Chiriqui province and Boquete. Still considering it, at least in El Valle there seemed to be a bit less trash than what seems to be in most of Nicaragua and there seem like fewer options for people who like the cooler climate in Nicaragua vs Panama which has El Valle, Boquete, Volcan, Cerro Punta, etc. but these videos are still eye-opening and I'd like to see what the highlands have to offer before committing. I imagine Esteli or Matagalpa would be the closest to the El Valle experience that Nicaragua has to offer?
I've spent time in El Valle (I used to live in Rio Hato) and I have a good friend that has an estate there! El Valle is still pretty warm. Esteli is probably cooler than El Valle, I'd guess.
@@ScottAlanMillerVlog That's good to know, thanks. I suppose it would be safe to say that Nicaragua has a bit more variance given that it is further from the equator? El Valle seems like it's always roughly mid 70s to 80s whereas Esteli has the same highs but gets down into the mid 60s. I was also in El Valle during the rainy season when we'd often have rain half the day which would cool things down a lot.
It seems like Nicaragua's rainy season tends to be less dramatic and has a bit of a mid-season dip in rainfall whereas rainfall levels stay pretty consistent in Panama throughout the season. We even had a number of rainy days in Las Tablas which I guess was uncommon according to the locals.
A small amount of extra variance, sure. But it isn't THAT much farther. We are just a bus ride away and mostly west, not north. El Valle was in the 90s when last I was there. As for teh hottest days of the year by month... Leon Nicaragua (the second hottest city in the country) ranges from 31-35 degrees. El Valle from 30-34 degrees. By that measure, we are essentially identical with just a one degree variance the whole year round.
Thank you for all the information.
I’m considering moving to Panama, any idea what the taxes are in Panama if I make capital gains, and dividends from my US brokerage account? I’m not a US citizen.
I know the IRS will withhold a percentage of my dividends based in the double tax treaty the US has with Panama, but I don’t know how those dividends & capital gains coming from financial investments in the US stock market are taxed in Panama if I become a resident.
Thanks in advance.
Panama does not tax foreign business income, that's their big advertised draw. And residents are never taxed, you are thinking of citizen. As a resident, most countries have no special means of taxing you.
@@ScottAlanMillerVlog
Thank you for writing back, but I wasn’t asking about “foreign business income”, I was asking specifically about whether Panama taxes foreign residents who make a living from investing in the US stock market, generating capital gains, dividends and interest from various investments in the US financial market.
I don’t own a business, I make a living primarily by investing and trading financial assets (stock, futures, ETFs, bonds, etc..)
Thanks 🙏
Actually, what you describe is the exact definitely of owning a business and is exactly foreign business income. It's the textbook example of it. "Investing in stocks" and "owning a business" are synonomous in 99% of use cases. The only difference is that you can own businesses via non-stock shares such as for an LLC as well. So there are ways to own a business that aren't stocks per se, but there is no way to hold stock without owning a business. But stocks represent the vast majority case of that statement. Something like 95% of all US business ownership is via stock investing, just like you and me.
So when people talk about foreign business income, dividends or capital gains from stock investing is what they are primarily referring to. But bonds, for example, would normally count as well.
@@ScottAlanMillerVlog
Ok, I understand.
I really appreciate the detailed explanation 👍
Then great! Panama here I come! ✌️
Colonial vs Modern?
Take'em both.
Scott ... and girls: How about giving us some information about home schooling, how it works for you and your family? I have a hundred questions, and would love to invite the girls to respond also. What is good, worth doing, enjoyable, hard and ... the opposite of those words. Thank you all for your wonderful channel. I read every word, every day.
Is there home schooling in Nica? I read around the internet that there isn't, or the mined does not recognize it in Nicaragua...
Well you would be recognized by your home country, not by Nicaragua. It's not Nicaragua's place to be involved normally.
I dont agree with your views on Panama ... you make it sound like almost everyone from the US wants to live in a highrise on the beach. As someone who grew up in Nebraska and NM that is not true. I spent 5 weeks in San Juan Del Sure and loved it there ... no high-rises and great people. I am no looking at Panama ... and no WAY would I consider a high-rise on the beach. I feel your views are rather one sided on Panama ... and you dont consider the mountain towns (although you do mention them in passing). You DO have the advantage of living in both places ... but MY views of living in NJ vs living in Oregon where I now live would be so different ... like apples and oranges. I feel this is how your comparison of Panama and Nicaragua is.
Who wants to live in a skyscraper anywhere,??????
A lot of people. I love skyscraper living. I used to live in the tallest building in NJ with views of Manhattan from my living room and it was glorious. I am working hard to be able to have a second home in Guate in a highrise. I won't consider the trip unless it is for a massive highrise. I love the views down over a metro area. That's my favourite.
Panama is in Central America not South America
That's what the US teaches, but that is not correct, that's just made up US geography. It was part of Colombia and the US took it by force and to justify that they teach Americans some misinformation to make it seem logical that it is no longer part of Colombia. But Panamanians are culturally part of South America and always have been. It is considered inappropriate in Latin America to refer to Panama as Central America; the correct way to phrase it is "Central America & Panama". Central Americans don't consider Panama to be part of Central America, nor do Panamanians. Keep in mind I used to live in Panama, now I live in Central America.
The countries that lie fully in Central America are Costa Rica, Nicaragua, Honduras, El Salvador, Guatemala and Belize; and parts of Mexico are considered still Central America (specifically Los Altos.) Panama isn't part of geographic South America, but it is a South American country. Importantly, it lies SOUTH of Columbia and Venezuela's northern coasts as well. So it is farther south than parts of the continent; and historically it's always been South America.
@@ScottAlanMillerVlog Your video is insightful and I like the music that makes me feel like I am in Central America. If you have money you can make it anywhere. I have been to many countries in central america and if you dont help the people you can get robbed everywhere. The people need help in these countries and if you just go and do for yourself its dangerous anywhere regardless if its Miami or Panama or Nicaragua. Help the people is what counts. Lots of people go to these countries just to have fun but there are real ways to help the people. Regarding Panama being South America, I disagree as well. I know lots of Panamanians that say they are Central Americans but to each their own. Internationally it is known as a central American country that borders South America. I have been to both and there are 2 sides to every coin. Liked your video but it's a Central American country and I have spoken to many Panamanians about this. Todos tienen sus rasones. And Panama is a North American continent as well so we can debate that part all day. Geography and feelings are 2 different things. The other things you said i totally agree with. 1 Love
@@ScottAlanMillerVlogNope
@@ScottAlanMillerVlog Panama was Panama way before VOLUNTARILY joining the "Gran Colombia" along with Venezuela, Ecuador and others. So Panama was and is in Central America. Panama was part of Spain. It voluntarily joined Colombia after gaining independence from Spain in the so called Bolivar experiment. but when it tried to go back to being its own country like Venezuela and Ecuador did, Colombia having a stronger army fought to keep Panama under its control. Panama was never part of "Colombia". Oh, and I am Panamanian.