Awesome step-by-step information. I followed your suggestion to use Kraemer from another of your videos and they are very responsive and helpful and I haven't even paid a retainer yet. So glad I stumbled on your YT videos. When I finally get down there I would love to treat you guys to lunch!
Absolutely excellent explanation of the process. I don’t know if the process has changed in the meantime, but even just the insistence that one get a good attorney makes this video worthwhile. Thanks.
I've been trying to be patient (not my strong suit) and wait for your video on Business setup but I need to make the decision of IBC or LLC and would love to know what you chose. Love your video's!!! they are awesome and you have my loyalty .
I LOVE YOUR VIDEOS, Your Type A just like me, get it done and get it perfecto, keep making video love them, I moved to Colombia over 2 years ago and went through the Visa process. Bought a house, car , truck, motorcycle, WOULD NEVER DO IT AGAIN THE MOST STRESSFUL 2 YEAR. Selling my house now and going to look at Panama to buy a large piece of land and build a house.
WOW! I hope selling in Colombia is easier than selling here! And if you're looking for land, I highly recommend my agent...www.rootsrealestatepanama.com
Thank you so much for all the value information and details but I was not able to see the sample copy of Bank Reference Letter required to open a Panamanian Bank Account, that's another important document that need to go we us to Panama. We can't leave nothing behind on a long and expensive journey.
OMG, love your personality! Don't take no shit and get things done!!! My kinda peeps! SUPER INFORMATIVE AND GREAT VIDEO!!!!! My husband and I are planning to come visit Panama as soon as the covid restrictions are lifted and if all goes well, our plan is to move there within 5 years. Thank you so much for this authentic and honest video!!!
I just want to tell you thank you for the great info. I just got off the phone with Marco Kraemer. I am heading back to the US in about a week to gather all of the paperwork to move forward. Appreciate you!
@@IGoPanama I did! BUT ... Just before I pulled the trigger, we figured out that a Panamian Corp with Panamian Residency was not going to be an advantageous business structure for us. Transitioning to an employee of the corp, triggered the Panamian tax code (as Panama a resident) yet staying self-employed still caused up to pay US self-employment taxes. Which route did you go?
Look into an offshore Panamanian corporation rather than a regular Panamanian corporation. I'll be doing a video on how I structured my business and how it affected my taxes next year after I pay taxes.
Thank you so much! We are finding your videos very helpful. Did you ship your things from LA to Panama? I've been searching but haven't found much regarding the details of how it works.
Hello Dr Kate Flynn and Mary, I am planning to do the same so, here is what I found on transport: livinginpanama.com/moving-to-panama/advice-shipping-household-goods-car/
Great information. Thanks for taking the time to be so helpful. I have my fbi report with a signature that looks like a copy, not an ink signature. Does that matter? Did you take the fancy FBI coversheet to the Panamanian consulate too? I received an email from FBI 6 minutes after my fingerprints were scanned at the post office in Glendora. And somehow the letter from the FBI was in my home mailbox the next day. How is that even possible. Thanks for any info you can provide.
I used the link for the sample letter template for getting a letter from US bank in order to ultimately get a Panamanian Bank account but the link is no longer valid, how can I get the sample you speak of? Great 2 part videos on Panama thank you! ❤
6 months for your permanent residency, not your temporary residency card. We're still waiting on our permanent residency card- the estimated time is 3-6 months. We're right at 4 now, so I'm hoping to have some good news soon!
Hi, I have some few questions which might help me in my inquery: (1) from the time you will receive your temporary green card to the permanent one, how long does it take ?; (2) in respect to that $5000 deposit, when can you start withdrawing the same ? Can I start withdrawing some amount (not all and just maybe keep $1000 on it) when I get my “temporary” residency visa? (3) in regards to that corporation, did you just register your own company from Los Angeles to Panama or is it easier to open Or simply “buy” into an existing one in Panama? (4) Are there changes in this type of (Friendly Nation) visa ? Thanks for a very informative video !
1) 3-6 months 2) As soon as you get the bank letter that tells immigration you have deposited that amount, so literally the same day you deposit it! 3) I created a new corporation in Panama. 4) No changes as of now. When there are, I'll make a video.
Sorry I had more: 5) do we need to have that letter from Wells Fargo Bank (we have same bank) and the statements apostilled also ? 6) upon arrival in Panama, with all the documents you already gathered in the US, how long did lawyer Kramer spend to secure you the temporary residency for you? Sorry for this question because my schedule is quite tight here. 7) And if I get it right, I don’t have to stay in Panama once I get my temporary visa except for few days a year or whatever is required . Thanks again.
@@vegaszoom6139 5) No. If anything required an apostille, I mentioned it in the video. 6) That is answered the the Part 2 video 7) I have no idea- you'll need to ask an attorney. We live here.
Enjoy video like this down to earth and laying out the practical steps! Not sure if you have done the offshore company structure video. For an US offshore company, Is it better to structure it as a IBC or LLC for tax purpose? Also, I forgot the name of the guy you recommended to rent the car from in Panama? How do I find him?
Awesome info. We are a homeschooling family that is interested in traveling to learn languages. We are looking forward to visiting and the potential of a second residency. I've watched your other videos as well. Can I get the link to your online school?
Sure! It's www.nextlevelhomeschool.com I teach a lot of worldschooling families who travel. Make sure you join the mailing list there- I'm going to be sending out a video tomorrow to our families explaining the new homeschool opportunities I'll be offering here in Panama!
Excellent information. We are planning on visiting in July. Moving in 2023. I have a little different situation, my wife is from Panama 🇵🇦, just wondering what effect that will have on things, or if there's a separate visa in that situation?
I know that you can get a different type of visa if you are married to a Panamanian citizen, but I'm not sure how it works exactly. If you go to the attorney's website that I linked in the video description, I know the information is on there. Good luck!
I'm still about 3 years out from immigrating to Panama (working my butt off saving to start a business down there), what are these potential changes to the Friendly Nations Visa? Thanks for another great mini series
No one knows for sure even if there will be changes (but chances are there will be). So trying to speculate on what those changes will be is purely a guessing game. We'll have to wait until the government announces it. But if you have the ability to go ahead and apply for your Friendly Nations Visa now, I'd do it. Because chances are that any changes are not going to make the process easier!
Hi, Thanks for the info. Apparantly we must apply before August as the changes in the friendly Nations law will be in effect then...what's your opinion on this? We are in France and freaking out as it is becoming very stressful living here with covid.
If you want to beat the changes to the Friendly Nations, you really need to plan your trip to Panama by August 1 at the latest- meaning you need to have all of your documents gathered in France and ready to be in Panama immediately. I have a few other videos on this channel about the new changes to the Friendly Nations Visa.
Great video , I mentioned you for refernce to Marcos Kramer, quick question, I' trying to fill the forms for IBC, from Kramer. who did you add as directors?, they are asking for 3 names of other people
Thanks! 🙂 From my understanding, it's $10,000. Consult with an immigration attorney for specifics. I did not use real estate as my financial tie, so I don't have direct experience with it.
facts thanks qualification and exclusion is true you may be eligible to exclude up to $107,600 of your foreign-earned income from your U.S. income taxes. For the tax year 2021, this amount increases to $108,700.1
Thank you Mary. One more question for the 5 photos - does it need to me the passport size that us citizens usually get at cvs or us post office?? @igopanana
Your attorney should tell you the exact size you need. Ours (www.kraemerlaw.com) did. We got them done at CVS. I can't remember what size though, so ask your immigration attorney for details.
Oh MY! You're giving up ALL the details! *I can NEVER REPAY YOU for the tip on how to get an FBI report in HOURS* !!!! It used to take me *6 WEEKS* to get that thing back!
For the visa pensionado, will it be enough if a bank in Canada to certify that they will deposit US$ 1000 into my account for the next two years? I don't plan to work in Panama ever. I am 68 and make my money from stock market.
Hey there. Is it better to buy property with my US corporation if I'm going to mainly rent it out while living in the US? Can I get a friendly nations visa even if my property is owned by a US corporation?
Perhaps I misunderstood, but I'd read that US citizens did not require a tourist visa for a 90 day visit. If anybody knows If this is correct,please let me know. Thanks.
No. I'm no expert on emigrating to Panama. I only know what I did and my experiences. There are definitely other ways to do things. However, if you have a specific question, just post it here and I'll try to answer or lead you in the right direction.
@igopanama thank you for this data. What banks are ideal options to open up a bank.account in Panama? Which one (s) do you recommend? I reach out to you via IG and your webiste but it didn't seem like you were active. So I decided to ask you her since I don't have an email address. I look forward to your reply. I am proactively working on the journey.
FACTS In order to be eligible for the foreign-earned income exclusion, you must meet the following three requirements: •Your tax home must be in a foreign country •You must have foreign-earned income $107,600 of your foreign-earned income from your U.S. income taxes. For the tax year 2021, this amount increases to $108,700.[1 ] This provision of the tax code is referred to as the Foreign Earned Income Exclusi
Believe me, I didn't understand it either! What's the point of notarizing my random signature on a printout of an FBI form?? I just did what the Panamanian consulate told me to do. LOL
There are rumors that changes are coming, and everyone is pretty sure those rumors are real. What the changes are and when they will happen, no one knows until it is officially announced.
FACTS anyone that want to make PANAMA they second home, here is the story: is a good move why if you can cut all your expenses in haft GO FO IT the less stress you have if you move to panama WHY NOT, the cost of health care insurance in PANAMA is way less than the U.S. AND YOU DONT HAVE TO WORRY ABOUT PRE EXISTING HEALTH CONDITION YOU GOOD TO GO the pensionado retirement panama visa offer a long list of saving, just imaging getting older and living longer because you find a place where all your stress go away, yes you have many expat living IN PANAMA AND THEY COMING FROM ALL OVER THE WORLD BECAUSE THE WEATHER, HEALTH CARE, GOOD FOOD, NEW FRIENDS ,SECURITY, STRESS FREE, LOW COST OF HOUSING, AND GUEST WHAT NOW YOU CAN AFFORD TO TRAVEL AND SEE NEW PLACESES THE MORE HAPPY YOU ARE THE LONGER YOU LIVE JUST STAY HEALTHY AND FIND THE WAY if you find your self living with a limited funds in the U.S. and at the end of the month there nothing left that is a sign of stress, is time to move and cut your expenses in haft to live way longer STRESS FREE
FACTS we always look at beautiful building with nice lobby from the outside and never from the inside why because we can afford it I give you an example Miami , New York how can we get there or get something close to it the answer is PANAMA open the corporation cost $1200.00 make sure you have a business in the U.S. with client from the U.S. or around the world not from PANAMA that is the trick the new millennium tech boomers is doing exactly that at low cost and living it big time I see them my self in the elevator and I talk to them and I ask what this story in PANAMA the answer we living it at low cost and the earning tax is exclude no need to report it $108,700.1 just live in PANAMA for 12 months and GO FOR IT
Yes. The friendly nations visa changes will kick in August 18. I have some videos on the channel about that, and another one coming up Friday with answers to a LOT of questions people are asking.
FACTS we all happy for what we got but at some point we all going to get older and we going to need cash, that is the reason you will need a future tax free planning in order to live good and free of high expenses, here is an example you got a boat, you have to park it at the marina, it cost lot of money to park, ok let me go look for a country that offer free park and tax haven ok we will take the boat to Marbella Spain, now you see why is important to understand the U.S. TAX CODE in order to live tax free at low cost living, THE U.S. tax code give you the opportunity to exclude $108,700.1 in PANAMA IF YOU OWN A CORPORATION but you can not have client from panama other wise you will be tax in PANAMA just stick to the U.S. TAX CODE TAKE CARE
Thank you so much for your videos, they are so helpful!! ❤... So, I am realizing now that we are going to miss the immediate permanent- residency boat, unfortunately, (ugh!), so looking at other visa options.... We NEED to be able to work while living in Panama during our first 2 years... We do have a small US business that we run online, however, it requires making and shipping art all over the world... I am assuming this type of activity would not be allowed on temporary residency?... Also, I am curious why you did not just get the "Investors" visa if you planned on buying real estate anyway? Thank you SO much for your time and answering any of my questions. We so appreciate you!
