With regard to Panama - here's how things are

With regard to Panama - here's how things are working as of December 28, 2012.  You do NOT repeat NOT need a second passport to retire or work in Panama.

Panama is a great place for you to retire.  Many experts say that Panama's Pensionado (Retirement) Program is the very best.  I am a Panama Pensionado.  You need a Panama lawyer to help you with becoming a Pensionado.  The Panama law firm that I recommend is Panama Relocation Attorneys is Panama City.

At this time, a Pensionado can NOT legally work (have income), but a Pensionado can - however - own a Panama Corporation & the Panama Corp can have income.  Be very careful here because certain types of business can only be owned by Panamanian citizens.  You need to be represented by a competent Panama lawyer.

Being able to legally work in Panama is much more complicated.  Panama protects its citizens and makes it very difficult for foreigners to obtain a Panama work permit.  However, recently President Martinelli issued Executive Order 343 & this Executive Order may make it easier for foreigners to obtain work permits... but because all this info is so brand new - the mechanics of this Program are still being sorted out by Panama's Immigration Department.

The economy & tourism industry are absolutely booming here in Panama & recently I read that 10,000 additional workers are needed because of all the new Panama hotels that are currently under construction.

Maybe I should also mention that when a citizen of North America comes to Panama as a tourist, this person may remain in Panama for up to 180 days... before the 180 days are over a tourist then needs to leave Panama for 72 hours, but after the 72 hours the tourist can return to Panama for another 180 days.  And you can do this over & over & over again & again  I personally know of people who have in effect been Perpetual Tourists (PTs) in this manner.  In fact my wife & I were PTs before we became Panama Pensionados.  A tourist and/or PT can NOT legally work (have income) here in Panama, but even a foreign tourist can own a Panama Corporation & the Panama Corp may have income.

Come To Panama & Turn YOUR Frown Upside Down!

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