It Is Important To Keep Your Eyes Wide Open When You Move To Panama

I have lived in Panama for nearly seven years with my wife Any.  We have a beautiful home on the Caribbean side (known as the Gold Coast), near the town of Portobello, Colon.

 

I spent three years researching Panama before my first visit and I brought six people to Panama on my first visit.  I thought the people who came here with me were interested in moving to Panama, but they were much more interested in golfing than discovering the country. 

 

My eyes were wide open and I was looking for the possibilities in Panama. This was the end of January and beginning of February of 2006.

 

I traveled most of Panama on my first visit.  I saw the Colon area, the Caribbean side, Isla Grande, Panama City and surrounding areas, the Pacific Coast, Coronado, Vista Mar, Farallon (where the Decameron resort is located), David, Bocas Chicas, Boquete and Bocas del Toro.  I thought at that time "Panama is a really different country with lots myself and others.

 

I traveled back to Panama two months later (in March 2006) and continued to discover more about the country.  After about a month in Panama I flew back to Las Vegas, NV, which was my home at the time.  I flew back to Panama in July with my wife and continued to look and discover.  I opened a bank account (with the recommendation of my attorney) and applied for a loan to purchase a house.  I discovered that buying a house with a bank loan in Panama is very different than back in the USA.

 

I had all my bank records and credit scores from the USA, but none of that was important to the banks in Panama.  I tried with three different banks in Panama, all with the same result ... NO NEW HOME LOAN.  I had lots of money in the bank, a superior credit score, a good income, yet that wasn't what the Panama banks were looking for.  I never did figure out how to get a home loan in Panama.  I think it can be done, but I don't know how.

 

Then my mom died in August and my wife suggested I go back to Panama by myself to relax so I did.  I liked Panama very much and decided I wanted to live in Panama.  My wife didn't want to leave Las Vegas, NV and one thing led to another and we went our separate ways.  We are still good friends.  I moved to Panama in 2007, built a new house on the Caribbean, got married and began what would end up being a five year process to get my new visa in Panama.  I began to learn just how important it is is to keep your eyes wide open when moving to Panama.  (to be continued).