Panama has an open door policy due to its growing economy and the need for outside investors. Those of you in the USA who don’t like the outcome of the recent presidential election and are considering moving away, Check out Panama. Consider the following:
If you have an income coming from outside Panama, you don’t pay income taxes; only a 7% sales tax on certain goods and services. Property taxes are mostly deferred on high priced homes, nonexistent on homes valued under 35 grand, and none at all and if you rent or lease -- nada!
Should you choose to build a business here, the game changes and you will need expert legal assistance.
A myriad of ex-patriot communities have been established over the years. More are springing up each year. Sales of luxury homes were flat for a few years but are gradually beginning to move.
There are choices and consequences, folks. That doesn’t mean you have to live with the choice of someone else. Come on down!!!
I can be reached via my e-mail at the top of my Blog. I have lived here for eight years; for a modest retainer paid to my Panamanian partner we can help you through the maze of resettlement.