How to get the Panama Retirement Visa
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- čas přidán 6. 07. 2024
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🇵🇦 How to get residency in Panama: thewanderinginvestor.com/serv...
I sat down with Giovanna and Wi Men, who run a small family office in Panama City, and we discussed how to obtain the Panama retirement visa and why it's such an interesting option.
00:00 Introduction
00:30 Why are Westerners moving to Panama
02:00 How to retire in Panama
02:20 Documents needed for Panama retirement visa
03:20 How to qualify for the Panama retirement visa
04:20 Which dependents with the Panama retirement visa
05:50 Benefits of the Panama retirement visa
07:35 Healthcare costs in Panama
09:20 Panama retirement visa permanent or temporary residency?
09:40 Minimum physical presence requirements for Panama retirement visa
10:30 How many trips to obtain Panama retirement visa
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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.
Get in touch with Giovanna and Wi Men: thewanderinginvestor.com/foreign-residencies/how-to-obtain-the-panama-retirement-visa/
I'm finding conflicting info online, even on the Panama Consulate sites in different countries, as to whether the pensionado visa can lead to naturalization and a Panamanian passport. Some consulate sites specifically say this is NOT a path to a passport, while others (your site as well, I believe) say it does. Can you clarify, please?
@@leapintothewild It can. You just need to spend 5 years there as a permanent resident. Actually live there. Not just on paper. You’ll need to build a case for it.
Great, very informative. Been living in Panama for almost 9 years. The best decision in my life.
I really want to congratulate you for asking the exact same questions that I was thinking about. I’ve seen so many videos and I’ve been informing myself on different residency programs and no one ask such specific questions that are so important to know, so thank you for been so precise and so well articulated in every question 👍
I’m subscribing to your channel.
Thank you. I appreciate it 👍. Spread the word.
I lived in Panama for 2 years (working). Very cool country but not sure if I would retire there mainly because of the fact I dont speak Spanish and that can be a huge issue if you are in an emergency (especially outside of Panama City). I do have to say the healthcare is pretty great within the City. Top notch doctors
Two years and you still haven't attempted to learn the language?? Colonizer for sure
@@teriyakiwilson7072 lol assumptions... of course I learn the language. Doesn't mean I speak it. Grow a spine keyboard warrior
I live in Texas. I know of scores of Spanish speaking people who have lived here for a decade or more and can’t speak English. I am happy they are here. I always try to learn a little Spanish interacting with them. I don’t refer to them as colonizers. It’s rude.
Thank you very much, very usefull information
Hi Thanks for the information. Any idea if the $1K requirement for income increases with time and if so could you become disqualified if you no longer met the higher requirement? As long as you maintain and stay in "good standing" would you be grandfathered in?
Even better. You get permanent residency immediately.
It’s worth mentioning that pensionado doesn’t automatically translate to citizenship. Especially if you have kids
Yes 👍 citizenship is very hard to get
Im panameñian married an usa citize. Planing to move to panama we are retired. What we need to do
Is that $1,000 a month? Also, how much is healthcare a month for 1 person? Is it $200 or $250? Thanks
My daughter was born in Panama, when I was stationed there with the US Army in mid 1990s. As jus soli (birthright citizenship) applies in Panama, she is a Panamanian citizen. Is there an expedited process for parents of Panamanian citizens to obtain permanent residency and citizenship?
I think so. Send Giovanna and Wi Men a message. They can help: thewanderinginvestor.com/services/residency-and-citizenship-by-investment/how-to-obtain-residency-in-panama/
So I am not sure if Wi answered this question or not...does an annuity from a private insurance company (like one from Mass Mutual for e.g.) count as long as its 1000/month or above?
@@jonathandaniels9910 it should. Ask Wi Men and Giovanna: thewanderinginvestor.com/services/residency-and-citizenship-by-investment/how-to-obtain-residency-in-panama/
looks interesting Ladislas.
What is the advantage of permanent residency in Panama when a tourist visa allows an American or Canadian to be in Panama for up to 180 days a year? If the Permanent Resident only has to visit for a couple of days each two years how is this better than a tourist permit situation?
If you don’t want to live there, nor care about an active Plan B, then no need to get it. True for any residency permit.
If you want to retire there and get all of the benefits (such as discounts on almost everything) of a retired person a tourist visa won’t help.
How will Ladislas be able to maintain his extraordinary worldwide experience and highly informative videos once he settles down with a family?! From Turkey to Panama, from Paraguay and Colombia to Asia and Europe!
I never said I don’t already have a family 🙂
@@TheWanderingInvestor I just took it for granted since you never mention it as part of your wandering worldwide!
The problem with residency is that a country like Canada can claim taxation liability if the person has their main financial sources in Canada, even if they live in Canada less than 180 days a year..
Yes. You need to do a proper exit. With my clients we make sure to do everything right to leave Canada in a compliant way.
@@TheWanderingInvestor Presumably by transferring assets out of Canada to highly reliable companies elsewhere? Plus not to have a permanent home in Canada anymore. Those seem to be the main factors for Canada being able to claim residency for taxation even if a person lives elsewhere.
With the Minimum income requirement being $1,000/month. How feasible is that amount to live on in Panama City ?
Not really feasible. It’s possible in the rural areas though.
@@TheWanderingInvestor SO I wonder why they don't raise the Minimum income to a more realistic amount say $1,500 that would also include living in Panama City not to mention reduce the # of people who put a strain on their health system ?
It is 1 year wait for MRI in Canada .
Brutal
@@TheWanderingInvestor I was on a 2 year waiting list to see an orthopedic surgeon they canceled the appointment after 2 years because my MRI and x-rays where to old and i was told to go thru discovery again hence the MRI June 2022 to june 2023. I have 5 herniated discs L1 to L5 - S1. 2011 to 2019 to get my first discovery did not see anything for 8 years . Waiting 12 years so fare to see my first surgeon.
@@SuperWeier awful. Why are you still in Canada?
Does 401k distribution count as acceptable income?
Yes Ingrid
what age is considered retirement age?
There isn’t a strict retirement age. Getting a private or government pension is what matters.
But u already "Retired" we dont have income, we have saving
I wonder why people making videos about “retirement in Panama “. All expats do not retire in Panama! They maybe move to Panama. Most of us, I would guess 90%, clear up our retirement pensions in the country we mainly work in our lives. Everything else what we have to do in Panama are related to our pensionado visa. Maybe the titles are wrong at this Panama retirement videos. Again. We do not retire in what ever country. We just move there.
Their prices are completely insane. I’m unsubscribing from the Wandering investor and would never use this couple he promotes to get my residency. Love it when people try to take advantage of Americans because incorrectly think everyone is rich.
$3k for permanent residency is hardly much. You’re more than welcome to do it on your own.
$3k for permanent residency is hardly much. You’re more than welcome to do the process yourself.
@@TheWanderingInvestor It’s not $3000, it’s $3500. You apparently don’t even know anything about the people or business who you are interviewing.
They said you MUST process it through an attorney, so they are taking financial advantage of that gridlock.
Otherwise I would do it on my own, because it doesn’t take a brain surgeon.
If you can do it on your own, then THEY are LYING to get business.
If you can’t do it on your own-as you suggest you can-then YOU are more CLUELESS about your own channel’s topics.
Therefore, either way, one or both of you are untrustworthy.
And if a person only needs (and has) $1000 per month, in SSA to retire there, how in the hell are they supposed to come up with $3500 to pay these nice lawyers?
Canadian here, retiring in 2025....going to sell my little home and everything in it and I'm retiring in Panama, first stop Pedasi. It's harder to live here from the cold winters, short summers, high cost of living, woke ideology and federal governments endless focus on climate change and racism. I can't wait to leave here and live a better retirement in beautiful Panama.
We wish you all the best!
Cool! Now you get the high cost of these lawyers!!!