DID YOU KNOW??

Did You Know? Gold brought into Panama is not taxed by the local authority. However, many things such as gold, with the value of $10,000.00 or more, need to be declared PRIOR to arrival. Failure to do so can result in confiscation, fines and legal discourse.  You want to avoid this situation? We can help.

Did You Know? IRA’s are more flexible than most people think.  You can actually cash out of your IRA and use the liquidity to gain full control over your retirement fund.  For example, it can be used to purchase of a foreign property or trade stocks in jurisdictions outside the US.  To hear about our IRA options, shoot us an email.

Did You Know? Panamanian banks offer notably higher interest rates than their western counterparts - not only on CD’s, but standard savings accounts as well. Furthermore, these interest rates aren't taxed by the Panamanian government. What bank has the best? Drop us a line and we'll let you know.

Did You Know? US citizens have to report they are beneficiaries of a foundation. Furthermore, failure to report a foundation to the IRS can result in 35% penalty of gross value transferred to the foundation. Want to be sure your making the right move? Find out from our offshore tax guru.

Did You Know? US citizens have to annually report they have offshore bank accounts.

Did You Know? Panama is among a handful of financial jurisdictions that have banking privacy laws to protect the identity of banking clientele.

Did You Know? If you trade non domestic securities in Panama there are no capital gains tax levied by the Panamanian government. Want to trade offshore? Find out here.

Did You Know? Pensionado visas do not qualify for becoming a Panamanian national. Hence, it will never qualify you for a passport.

Did you Know? Pensionado visa does not qualify people to work inside Panama. If a retiree or other person is pursuing residency and expects to work in Panama, the Pensionado is not the way to go.

Did You Know? Fast track passports are a waste of money. They do not qualify you as a Panamanian national. On the “travel document” it states your true nationality which will prompt customs agents abroad to ask for your ‘real’ passport.

Did You Know? It takes up to 7 years after applying for residency to become eligible for Panamanian nationality / Passport.

Did You Know? There is an investors visa which will eventually make you a Panamanian national and qualify you for a passport if you buy or invest $300K or more in Panamanian property.

Did You Know? If bought correctly, you do not have to legally report to the US government that you own foreign property.

Did You Know? Foreigners need an assignable life insurance plan to get a loan / mortgage.

Did You Know? You could be stepping into a tax trap when buying a property through a corporate structure. Not only could the consequences may outweigh the gain, but you could be fined by your home government for not reporting the corporation.

Did You Know? There is no equivalent to FDIC in Panama.

Did You Know? You do not have to wait in customs lines when entering Panama. Sound interesting? We'll set it up for you.

And this is the tip of the iceberg!  Any questions?  Don't hesitate to contact us!

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