Move to Dubai or Panama? Learnings from Julien who lived in both places
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- čas přidán 16. 06. 2024
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00:00 Introduction
00:40 Why I left Panama
02:00 Thoughts on Dubai
03:10 Budget in Panama vs budget in Dubai
05:20 Why I left Dubai
07:20 Schools in Dubai vs schools in Panama
08:25 Banking in Panama vs banking in Dubai
11:40 Bureaucracy in Dubai vs freedom in Panama
15:25 Safety in Dubai
17:40 Nature in Panama vs nature in Dubai
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Though Dubai and Panama often appear on similar lists for people wanting to move to low-tax jurisdictions, they are very different.
I had a chat with my friend Julien who lived twice in Panama, and twice in Dubai.
Having lived in the Gulf, I am also very familiar with both places. In lived in Oman for a while, which is a completely under-marketed destination. And I spend of lot of time in Latin America, with Panama being a core base.
We discussed the pros and cons of both destinations.
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No part whatsoever of the discussion and presentation is, or should be considered as, investment advice, financial advice, legal advice, or tax advice. Always do proper due diligence and speak to a qualified professional advisor in your jurisdiction. Also, be advised that Ladislas Maurice and The Wandering Investor staff may own real estate or investments in the specific markets or opportunities that are discussed. The Wandering Investor may also have marketing agreements in place with certain opportunities that are mentioned.
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Living in Panama for 2 years. Left Canada during the trucker protest....I have zero regrets ling here. My wife and I along with our 2 teenage kids surf and eat healthier than we eve have... Blessed to be in Panama!
Panamá is great. I have been in Panama for 24 years now. I became naturalized as a citizen 10 years ago. I would never live in Dubai. It is a Muslim country. I don't trust them. Spanish is esay to learn. Other languages are more difficult.
"No one cares and you're left alone" reminds me of life here in Serbia as an expat. Excellent interview guys, very much enjoyed hearing about Dubai and Panama.
Facts!
Excellent interview and insights, thank you!
Great content and the comparisons were enlightening. Thanks
Merci for this interview. Much appreciated.
Great interview, thanks!
I still remember you advising me on Panama when I was looking at Dubai. Living here now in the jungle and absolutely love it! So much freedom, super safe, access to modern infrastructure, nature is beyond words and it's still so under the radar. Oh yes, and consistent surf every single day. Thanks again ;)
Thank you Benjamin 🙏 really happy for you ☺️
Which jungle island and surf breaks you using @benjamin
So I am listening as a follower of you both, left Belgium after looking at Julien's formation, and based in Dubai since 2020 (during covid) but kinda critic and soon to try Buenos Aires:
- Prices: Yeah, double or triple
- Pollution: tourist syndrome for you guys. Yes Marina, Downtown are polluted. But if you "live" there, you slowly move to quieter neighborhood, like Damac Hills where I am for example, which comes with huge parks, clean air, etc. Marina is for tourists, no one spends three years there - or should I say "Shouldn't stay three years".
- Indian accent in school is not real tbh. Most teachers in good schools are from the UK/Ireland (I know, I've dated some ;D), but also yeah 3x the price.
- Bank service: yeah
- Guest feeling / get passport: Big yeah, exactly why I'm looking for BA (this and european lifestyle that I miss)
- Guards in Dubai: Yeah, they are bots. Painful.
- "Pros" not mentioned: networking and events industry is huge in Dubai, if its useful for you and your business to land customers its a prime location. Cheap energy. Better for muslims. Food choice is unlimited and there is top quality for each cuisine (may require a bit of research). Last pro, whatever your origin country is, there is a community from your country in Dubai.
- Cons not mentioned: you live among tourists. People never stay for long, some will stay 10 years but from my knowledge of the french community for example, the average stay I noticed was 2-3 years, average the ones trying 6 months and the ones staying 5-6 years.
Thanks for the video. It would be great if you also interview someone who has experienced living in Panama vs Thailand (Koh Samui or other similar islands), and shed lights on pros & cons just like you did fantastic job on Panama vs Dubai. You just got a new sub! Thanks again!
Julien in English... that's great, too 😀
Great video! Just to note ... as for English accents, apparently, according to research, the 3 most preferred English accents are (#1) Australian accent, (#2) the British and (#3) Southern USA. The least favourite English accents are the Indian/Pakistani English accents. So Julien is in the majority on this issue, as am I!
Australian first? Who wrote that list? 😂
(#1) Jamaican English Ancient, (#2) British, (#3) Irish English ancient, (#4) Southern American accent
Both seem like good options for most expats. For Americans though, Puerto Rico seems hard to beat from a tax perspective. Would be great to get your thoughts on this in a future video.
Very interesting comparaison. I love also both countries, but I will choose also Panama for the nature, Shopping is not my goal in life...
Thank you for highlighting pollution - its one of the reasons I had to leave an otherwise amazing city- Nairobi
8k/ month in Panama.... speechless!!!!! Thanks again for the great video and valuable infos!!!!
Yeah .. where is the guy living... and sounds like he dines oit for $50 or 100 a day?
Can you get his restaurant.. cafe list. He would have it wired
My Colombian wife and I have spent much time thinking of moving full time to Colombia, and reminders of how absolutely dumb they were regarding the fake flu time period always stops me in my tracks
I moved to Colombia during Covid, because although they have rules, its easy to ignore. Malls were closed but in the barrio everything carried on fine!
Colombia IS NOT Panama, stay where you are or move to Panama.
That living room looks familiar, Waldorf Astoria?
😉
Love the honesty of this interview ! There is no perfect country, Dubai is super safe but some people don't like hiper controlled countries. With digital ID coming is natural some people prefer countries with more relaxed regulations
It is really easy to get a 10 year golden visa now in the UAE if you earn at least AED 30,000 (c. US$6k) per month. Also, there are all kinds of schools and teachers available with different backgrounds (not only Indian as this guy mentions). I prefer Abu Dhabi over Dubai.
It must be nice to be able to travel across the world just because you were sick of seeing people trying to protect themselves from a world wide pandemic. I salute you.
It was nice indeed. Thank you.
I lived in Dubai for two years due to work I couldn’t wait to leave it’s not a great place to live
why is he renting a suite at 5 star hotel instead of purchasing an apartment?
I think the stress of Covid definitely changed everything... however after 2021 everything was open. Yes the measures were a mess but it saved peoples lives. Depending of the business and if you want sand vs rain and rainforest.... Panama is the way to go... Dubai is a different thing.... depends on what you really like.
Panamanian who returned to Panama after 15 years.
Living in Panamá City, I can confirm (most of) what this Frenchman says.
The French business community has for decades done business in the Middle East and Asia. Way moreso than Americans.
Spot on, you always a guest and never home even if you are born there.
This is overdone. As if western expats get out of their bubble to mix with locals to 'feel at home'. As long as you have your job or business you will stay there indefinitely.
And if I was the UAE I wouldn't give out permanent residency - the natives are only 13% of the population - no European country would allow this demographic let alone grant citizenship. Heck - Europeans are complaining when 10 to 15% of the population is immigrants.
So....this is not really a video which the "average" Joe wants, when comparing Dubai to Panama. You are interviewing a guy who stays at a 5 star hotel, in two suites, and probably eats out three or 4 times a day everyday, (assuming he has not cooking facilities). How is that a video which captures the benefits, of living in one place or the other, again, from a "laymans" POV?
I thought to myself, that guy has rich people problems 😂 Check Panama Relocation tours for real people's advice.
Ladislas, the problem now is that we see how countries are being pressured to make things more difficult. For now they dont require extended stays in Panama, but who the hell knows? They could start conditioning even Permanent Residency to spending 30 days or more. Without that they could revoke the residency. Then what? And not just Panama.....any of the Residency countries! It's impossible to rely on any of these current rules. Malaysia changes theirs every Monday and Thursday. In some countries even the office bureaucrats and consulates don't know what's going on....Whew....
It’s a risk yes.
Much less for permanent residents than temporary residents.
And Asia has always been, and always will be, more anti-foreigner than latam
@@TheWanderingInvestor It's so frustrating, because a person can invest in getting residency, and Boom, the government says renewal of Permanent Residency requires 3 months a year in country. And if a person can't do that they lose their PR benefits and maybe the Residency altogether .How can anyone rely on any of these governments? I know I'll be accused of pessimism, but there must be a way of a person protecting their permanent residency by getting an ironclad legal commitment that the conditions of their Residency, EVEN Temporary Residency, cannot be modified if they abide by their original conditions. Otherwise a person could legitimately claim that "had they had these modified conditions originally, they would have never applied for residency"!! Ladislas, could any of your lawyers in any country give us their opinion about this concern?? I think it is more than valid....
Then what? The lesson here is to never be tied to any place or country and for that vote with your wallet. They are the losers potentially, not you. Remember, vote with your feet and especially with your wallet if necessary
@@user-nw6dx5wu8s You have a point IF one's circumstances permit one to move on. However given the Globalists agenda, the power of their dictatorship to take over the production of food, energy and transportation, and to subordinate us like a bunch of serfs will make successful Residencies increasingly difficult. Especially since with the digital identification they will easily interfere with travel, restrict people with lockdowns and 15 minute cities where you're confined to your neighborhood. They've already started it in China. "Your identification, sir!" Without which we will be non-entitues complry.
Is there a reason you are sitting on a phone book? Good video as usual.
What? Lol
@11nydave he's not sitting on a phone book, he has a great a$$. But I agree great video. 😎
It’s a way of saying you are tall. You always tower over whomever you are taking with.
@@11nydave Okay thanks for the education. However 🍑🔥
Neither, I would go to Belize.
Great interview and summary, pretty much as I expected Dubai and UAE in general has some advantages but plenty of inconveniences the n areas that aren't issues elsewhere, as for the culture and thinking he's 100% correct there, on the surface there's no obvious crimes but plenty of those desperados with nothing to lose there waiting for the next victim, and yes, the "second class citizens" appear to have next to zero rights in the case of being an innocent victim, if money goes missing from your bank account you have to organize your own investigation with the police and pay the bank for the paperwork for the police to investigate it, as for citizens there they have different rules.
Money goes missing from the bank account? You can't be serious. Exactly how was money missing?
A couple of food delivery transactions, I checked with the company and they said it was ordered and approved with an email address I've never heard of, this happened within a couple of months of opening a bank account there, it had only happened to me once before in 40+ years of banking elsewhere and was sorted out quickly with the help of the bank which took responsibility, no such luck in UAE, you're pretty much left to your own devices.
I have residency in both places and I prefer Dubai.
I'm moving to Dubai but I don't know where. What areas do you recommend?
It's not "learnings", but _lessons._ Learning is a mass noun that refers to the _process_ of acquiring information, not to a piece of information that is acquired.
Having a hard time shaking off the corporate talk
@@TheWanderingInvestor I guess it'd be more like a school talk?
Go to Dubai please
Panama was relatively open during covid, I went there during this time to get residency
FALSE.
I'm interested to know how can you spend 8k per month here in Panamá! 😂
Julien, don't feel guilty about accents! I love all peoples in a multicultural country like Canada, HOWEVER, I struggle with not easily understanding Indian accents and African accents in English. It's just a fact. Especially over the phone. I am cynical about residencies in general. It seems that the most consistent country on the rules of residency is the Dominican Republic....
Yeah right but with his French accent apparently you have no problem. You sound biased. Just saying.
@@wholesalepreneur6175 I didn't struggle with Julien's accent and I'm not biased.
@@wholesalepreneur6175 LOL. Yeah his accent is not exactly the best.
Panama
I've been to Panama several times: better to live in BGC/Metro Manila, with English speakers.
Panama is better for Americans
Lol, the comment about Indian accent is exaggerated to say the least. A kid is not going to grow up speaking like Apu from the Simpsons because his grade 4 teacher grew up or studied in India...
Waoo the bots created on february and march of 2023 with spanish names are going crazy on the comment section😂😂😂😂
Annoying. Always on tax haven content…
Sounds like a horrible life in Panama during Flu-vid....
I was in Panama in 2021, it wasn't that bad, aside from curfew
Just for what happened during COVID, I wouldn't trust them and live there
Should of tried living in any "five eyes" country during COVID, some of them you couldn't get out for years.
no brainer, Dubai is a hellhole.
just say lessons instead of learnings and sounding like a corporate drone
Bad habits die hard
What a strange choice you’ve given us. I look forward to you next video “Which is better: comets or lawn chairs “
Not a chance and YOU people need to do your homework and speak about all of the despicable, immorality and CORRUPTION, which, goes on there!!!
I would Never, sell my soul The Portal to, HELL😮😢😮
Colonizer mentality
This video like Racists.
Can you find employees to work ?
Why don't you make a video comparing Panama with the best tax havens? With Andorra, with Switzerland or with the most corrupt, it would be interesting to see that in Panama the orders of a prosecutor or judge are carried out only if it benefits the president or the corrupt government. It is good information