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!
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!
xxx