To add to my previous post and that is in Panama very often persistence pays off. So if you want Panamanian citizenship you should certainly give it a try. And if you do get it the Panamanian passport is very good especially in Latin America. Panama is what I call a hit and miss country. Sometimes you miss and other times you get a strike. In Panama very often things are inconsistent. One day something works and the next day it doesn't. You have to keep trying. I do have Panamanian citizenship by naturalization. I received it in 2013. I've lived in Panama for 22 years. I am also very fluent in Spanish. Nobody in my family can speak English except for me. The Panamanian passport if you manage to get it I think is better than the other Central American countries.
My wife and I lived in Panama full-time for two years, 2015-2017. The rules just to be a resident are fluid and changed during our stay... and since. WARNING: bribes are an acceptable part of the culture there.
@@ballballsoo And if that is alarming, you should be WARNED about the nation that kills babies; defiles God's holy marriage covenant by allowing same sex marriage; bans Bibles in public schools where they allow books on the occult and witchcraft; and where sexually perverted BELIEFS are promoted while all who do NOT accept this BELIEFS are attacked by their morphing laws.
@@CanadianVacations English speaking places like Ireland, and Porto, Portugal seem like decent options. When civil war in US leads to dead bodies in the streets, I believe people here will have a plethora of better choices.
I've been living in Panama for 16 years. It's a country where the numbers never add up and authorities are pretty arbitrary if you know what I'm saying.
by "lubricating the right gears" in the RIGHT WAY everything will start functioning, believe me. As an Italian I know how that "system" works: just adapt to it and ...go with the flow. You will obtain what you are looking for by "budgeting" extra money for "extra expenses" ;) P.S. of course you MUST know spanish and the hispanic culture as well : being a " die-hard gringo" in such places doesn't work, trust me. Italians and LAtin Americans are very similar in the way they think, act and deal with the "system".
I received my FNV residency in Panama 7 years ago. I will probably apply for citizenship just because my wife is Panamanian but one thing you kind of understate is it in not just citizenship that languishes on some desk for ages that is true of every process to get anything done in Latin America. It took 8 months to get electricity hooked up at my farm. Mine was quick, my American friend has been waiting for permits going on 3 years, he has an offgrid solar so not critical just convienience for him. If you choose to live in these countries you need to understand that nothing works the way you expect it should or be accustomed to in the first world. As another example the municipal water supply has failed 4 out of the last 5 days, so you if you are going to live here you need to have backup everything from water tanks to generators. Although it is certainly tax free. It is good for residency, but if citizenship is your goal I would be looking other locations first.
Very true about the back up plans with water tanks and generators. But the natural beauty of this country is worth the small inconveniences especially while having back up plans. Also a FNV resident of 2 years but merely for a plan b option out of US. Any recommendation on that off grid solar company?
if youre expecting that everything will go smoothly for you when living abroad ...well IT WONT! like Natash Summers said you MUST have a back up plan for everything. The beauty of the country is well worth it.
You are right about citizenship in Panama. I became a Panamanian citizen in 2013 but it took a long time. I became a resident in 2000. As you say the president has to sign your letter of naturalization and it can sit on his desk for a very long time. In my own case one president came and went without signing it. Finally Martinelli signed it just before he left office. To me it wouldn't be worth it just to have a second citizenship but if you live here permanently like I do I would give it a try. It is not expensive to apply for it. It helps to be fluent in Spanish. Most of the people at the ceremony were Hispanic from other Latin American countries.. A couple of Chinese and myself an American.
Excellent, I've seen you say this several times in your videos in passing, but here is the dedicated video to it! Seems like Panamanian presidents don't like signing thousands of citizenship documents
The Friendly Nations Visa is not as friendly now. Now instead of a $5000 bank deposit and a corporation, you need to buy a $200k property. I am glad I got in when I did. Thanks for making me aware of the FNV, Andrew.
Guys, come on. I’m a Panamanian-born dual Panama/US citizen. Dont judge a country by one administration. Trump slowed down the US naturalization process (both residency and citizenship). And no one goes around saying the US is a very difficult place to become a citizen. Under Martinelli (2009-2014), the different residency plans came about, but under Varella (2014-2019) the nationalist party slowed down the process. Now under Cortizo (2019-present), the center-left alliance may want to speed up the naturalization process to incentivize the economy. I found it necessary to make this comment because these generalizations are just that. There’s a context in which these things operate.
Thanks for the insight.....I'd like to keep in mind too that a change in governement can change tax laws in the future when they've had enough of foreigners taking advantage of their country's laws
Andrew you spoke about the drama in South Africa. What would you suggest for average South Africans to get out? The crazy is getting even more crazy, don't see much of a future for our kids here?
Lived in Panama on a Reforestation visa, own a house there, but Panama changes the goalpost. I could have gotten a passport, IF I gave up my US passport! I have great friends there, but.....
Im lucky my dad is Panamanian so it will be easy for me and that will be my first 2nd passport for cheap, will continue on this journey on citizenship diversification and look for more suitable places for my needs. Love the beaches tho :)
While I realize that not everyone has the same needs in the area of investment objectives tied to living in a particular country where IS/ARE the current (12/2020) "easiest place(s)" to achieve the goal of a second Passport foreign citizenship?
The pandemic will never be over. In the first place, it is a plandemic and a scamdemic. They are setting up the New World Order. This is never going away. We are going to be enslaved. Just some people with a bit of money might have a delay in their enslavement.
@@asscrackistan Oh yes it's going to be bad (already is), people can't pay rent, some can't buy food, some died when they weren't allowed to leave their home to work or get food. Yes sir, global communism = global enslavement. Some how your eyes got open. A lot of people never heard the truth but once they do they can see everything - it just takes someone like you or me who can see to tell them. We have to prepare - the battle is for your soul. I have to say when I listen to Andrew, I feel more greedy. You know how good people are by how they look after the poor and also how they treat animals. Remember this is about your soul - so we have to prepare spiritually for what is coming.
@@CanadianVacations thank you brother, dark times are ahead but there's always light at the end of the tunnel, we just can't see it yet, much love from Dublin 🇮🇪💪🏻
@@asscrackistan Light? Can't see it yet? Yes we can see it. Also, we are supposed to be the light in this world. We are created in the image of God. This is why the dark forces hate us. We are going to inherit the earth. The dark forces are trying to prevent this. They really are demons. There is this movie called. "They Live" it really depicts the truth that some people are real human beings but some are demons. These demons are trying to take us down. But they can not if we stay focused on the light. The light is........I really want to tell you but maybe you can guess. Wow you're Irish from Dublin, my grandma came over to Canada from there. So I'm part Irish. I'm a red- head.
@@nomadcapitalist I love the foundations of what gave us American freedom and prosperity. I understand how the philosophy of individualism (declaration) and subsequent law (constitution) served as the building blocks for our founding documents, the free market, sound money, natural rights and freedom. As the Republic has fallen victim to a coup of central banking and democracy, it has since been a downward spiral into debt and collectivist theft of freedom and prosperity. I havent abandoned my country. My country abandoned me, when it became something polar opposite from the social contract that was established at inception. Im pursuing other options and a plan B, because im not sure how much longer we will have any prosperity, freedom or sovereignty left. Pursuing residency in Panama as we speak. But, could you consider doing more Colombia content for taxes, business, Medellin real estate, life there, etc. Ive watched everything youve already put out. I know their tax system is more complex and as a current US citizen, i hope this will work out for me and my plan. Hoping to travel there later in the year after panama is squared away. I would call you for your services, but i dont qualify. I make 6 figures, but i will continue to grow. I cannot allow the collectivist states of America to take everything ive worked for. Renunciation is not off the table. They better get their act together, but we both know governments never relinquish power, once its been gained. Keep up the good work and thanks, American in spirit
So Andrew, when one is nearly at the 5 year point, perhaps starting a slew of political contributions, to the Panamanian President's reelection committee, or donations to his political party. Is the way to go, to to get your application noticed, and approved ASAP?
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 Exclusion.
@@buentaste ive heard good and bad, but from a US perspective, the political and financial risk are much more favorable. Its not the citizens that i worry about. The US is going down and it could become hyperinflationary like Venezuela or Weimar. I have complained for decades of the mistakes that the US government intentionally makes. I am not obligated to go down with the ship. No place is perfect, but Panama is a territorial tax system, good banking and business, most of the same rights that true Americans believe in, english and spanish languages, the diversity in environments from city to beaches to mountains, etc. Panama has proximity to other countries with opportunity, like Medellin, Colombia. Close to Mexico as well, which many prefer to live in. Much of the world will go down in this fiat inflationary crisis. I dont really want to be anywhere there is a central bank, but that really limits you in the free world.
@@bodyloverz30 It's going to cost more. Why would a farmer who did all the work sell his crop just prior to harvest for much less than market price? Maybe deduct the cost of harvesting, that's it. The aged growth I see at reasonable prices are 15 years. 25 years is ripe for harvest and replanting.
Hi Andrew... I am not a 7 or 8 figure income earner, but our household income is in the lower 6 figures. I fear that Canada is becoming a liberal dictatorship and I fear for my family's future here. I was thinking of getting a Panama passport, but this video suggests otherwise. Please can you recommend what is in your opinion the best possible course of action for me and my family? Thank you and regards to you and your family. M.
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 if you travel and to panama and open a corporation and then apply for the friendly nation visa and stay there for more than 12 months you qualify for U.S.. tax exclusion
The five-year rule is stated in the Constitution. Modifying this requires either cooperation from both an outgoing and incoming parlament (elections take place every five years) or a general referendum. This hasn't happened for over 16 years.
Yes, it's possible. As long as the main applicant holds a passport and second ID from one the listed countries, dependents from other nationalities may be included.
Panama doesn't allow dual citizenship. According to this rule you'll never get a Panamanian passport unless you renounce your own. This might have everything to do with the fruitless wait
So the Panama citizenship is just another scam? I just knew anything they "grant" to foreigners is for the countries benefit. I bet a lot of people spend all those fees (did it cost you 3 or 4 thousand?).....then put 5000 in a bank, then you only have to come back for 1 day within 2 years .....I just bet that a lot of people don't .....and Panama counts on this. Then some people like yourself are serious and stick around.....but will they give the citizenship - time will tell. Did you have good lawyer?
Officially, maybe. But if it were, that’s not really enforced. I am a dual US-Panama citizen (born in Panama). I use a US passport to go to Panama, enter as a Panamanian citizen (birth country shows Panama). I still have the Panamanian SSN and have my bank account there.
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 get the VISA
You didn''t mention that Panama doesn't allow dual citizenships. They expect that you renounce your current citizenship. However as with most things in Panama the authoriites never follow up so most people never get around to cancelling their other citizenships.
@@majortom8047 It is clearly stated in article 13 of the constitution that dual citizenships are not allowed. "ARTICULO 13. La nacionalidad panameña de origen o adquirida por el nacimiento no se pierde, pero la renuncia expresa o tácita de ella suspenderá la ciudadanía. La nacionalidad panameña derivada o adquirida por la naturalización se perderá por las mismas causas. La renuncia expresa de la nacionalidad se produce cuando la persona manifiesta por escrito al Ejecutivo su voluntad de abandonarla; y la tácita, cuando se adquiere otra nacionalidad o cuando se entra al servicio de un Estado enemigo
@@masyapanama1298what u wrote is true but also not 100% true . US citizens for example just sign affidavits saying that they renounce. USA and Panama don’t share info about their citizens directly . There are naturalized US-Panamanians and other country . Can’t speak for other countries
Having lived in Panama during the Noriega years I think you are spot on. Many things have changed for the better ... many have not.
To add to my previous post and that is in Panama very often persistence pays off. So if you want Panamanian citizenship you should certainly give it a try. And if you do get it the Panamanian passport is very good especially in Latin America. Panama is what I call a hit and miss country. Sometimes you miss and other times you get a strike. In Panama very often things are inconsistent. One day something works and the next day it doesn't. You have to keep trying. I do have Panamanian citizenship by naturalization. I received it in 2013. I've lived in Panama for 22 years. I am also very fluent in Spanish. Nobody in my family can speak English except for me. The Panamanian passport if you manage to get it I think is better than the other Central American countries.
My wife and I lived in Panama full-time for two years, 2015-2017. The rules just to be a resident are fluid and changed during our stay... and since. WARNING: bribes are an acceptable part of the culture there.
Fluid rules and bribes... not my kinda place, thanks for your headsup
@@ballballsoo some of us have forgotten how to do bribes. Are tax recites given ? Do you add a tip for good services ? Haha Maybe
@@ballballsoo And if that is alarming, you should be WARNED about the nation that kills babies; defiles God's holy marriage covenant by allowing same sex marriage; bans Bibles in public schools where they allow books on the occult and witchcraft; and where sexually perverted BELIEFS are promoted while all who do NOT accept this BELIEFS are attacked by their morphing laws.
@@jonathanisrael9714 Same in Canada.
So where could you go. I am looking into Costa Rica.
Do you have any suggestions?
@@CanadianVacations English speaking places like Ireland, and Porto, Portugal seem like decent options. When civil war in US leads to dead bodies in the streets, I believe people here will have a plethora of better choices.
I've been living in Panama for 16 years. It's a country where the numbers never add up and authorities are pretty arbitrary if you know what I'm saying.
Sounds like USA
by "lubricating the right gears" in the RIGHT WAY everything will start functioning, believe me. As an Italian I know how that "system" works: just adapt to it and ...go with the flow. You will obtain what you are looking for by "budgeting" extra money for "extra expenses" ;) P.S. of course you MUST know spanish and the hispanic culture as well : being a " die-hard gringo" in such places doesn't work, trust me. Italians and LAtin Americans are very similar in the way they think, act and deal with the "system".
@@itadrummer1
hi i totally agreed with you, well said.
This seems to be a common theme with the third-world.
I received my FNV residency in Panama 7 years ago. I will probably apply for citizenship just because my wife is Panamanian but one thing you kind of understate is it in not just citizenship that languishes on some desk for ages that is true of every process to get anything done in Latin America. It took 8 months to get electricity hooked up at my farm. Mine was quick, my American friend has been waiting for permits going on 3 years, he has an offgrid solar so not critical just convienience for him.
If you choose to live in these countries you need to understand that nothing works the way you expect it should or be accustomed to in the first world.
As another example the municipal water supply has failed 4 out of the last 5 days, so you if you are going to live here you need to have backup everything from water tanks to generators. Although it is certainly tax free. It is good for residency, but if citizenship is your goal I would be looking other locations first.
Very true about the back up plans with water tanks and generators. But the natural beauty of this country is worth the small inconveniences especially while having back up plans. Also a FNV resident of 2 years but merely for a plan b option out of US. Any recommendation on that off grid solar company?
@@drs519 so water is a small inconvenience... interesting...
if youre expecting that everything will go smoothly for you when living abroad ...well IT WONT! like Natash Summers said you MUST have a back up plan for everything. The beauty of the country is well worth it.
Good point that approvals aren't always guaranteed.
You are right about citizenship in Panama. I became a Panamanian citizen in 2013 but it took a long time. I became a resident in 2000. As you say the president has to sign your letter of naturalization and it can sit on his desk for a very long time. In my own case one president came and went without signing it. Finally Martinelli signed it just before he left office. To me it wouldn't be worth it just to have a second citizenship but if you live here permanently like I do I would give it a try. It is not expensive to apply for it. It helps to be fluent in Spanish. Most of the people at the ceremony were Hispanic from other Latin American countries.. A couple of Chinese and myself an American.
Did you renounce your American citizenship?
Did you have to renounce the American citizenship?
Excellent, I've seen you say this several times in your videos in passing, but here is the dedicated video to it! Seems like Panamanian presidents don't like signing thousands of citizenship documents
Panamanians take care of their own first.
I think this is what you should know about Panama's residence process!!Panama relocation tours!! Jackie's tours panama!! 😊
right on Joel!
The Friendly Nations Visa is not as friendly now. Now instead of a $5000 bank deposit and a corporation, you need to buy a $200k property. I am glad I got in when I did. Thanks for making me aware of the FNV, Andrew.
thank you for the work you do.
Always great insight. Thank you
Guys, come on.
I’m a Panamanian-born dual Panama/US citizen.
Dont judge a country by one administration. Trump slowed down the US naturalization process (both residency and citizenship). And no one goes around saying the US is a very difficult place to become a citizen.
Under Martinelli (2009-2014), the different residency plans came about, but under Varella (2014-2019) the nationalist party slowed down the process. Now under Cortizo (2019-present), the center-left alliance may want to speed up the naturalization process to incentivize the economy.
I found it necessary to make this comment because these generalizations are just that. There’s a context in which these things operate.
Thanks for the insight.....I'd like to keep in mind too that a change in governement can change tax laws in the future when they've had enough of foreigners taking advantage of their country's laws
true....true....
Andrew you spoke about the drama in South Africa. What would you suggest for average South Africans to get out? The crazy is getting even more crazy, don't see much of a future for our kids here?
I don’t know if you’ve addressed this in a previous video - I’d like for you to discuss banking in PR -
Love the design and videography. Love the content more.
After listening to this video I feel really lucky because in 2013 I became naturalized as a Panamanian citizen. I have lived in Panama for 23 years.
Lived in Panama on a Reforestation visa, own a house there, but Panama changes the goalpost. I could have gotten a passport, IF I gave up my US passport! I have great friends there, but.....
All rise! The Honorable Andrew Henderson is in session.
Im lucky my dad is Panamanian so it will be easy for me and that will be my first 2nd passport for cheap, will continue on this journey on citizenship diversification and look for more suitable places for my needs. Love the beaches tho :)
While I realize that not everyone has the same needs in the area of investment objectives tied to living in a particular country where IS/ARE the current (12/2020) "easiest place(s)" to achieve the goal of a second Passport foreign citizenship?
Great video and very contrarian perspective here, continue the great work!
Not a huge fan Panama, but thanks for the info Team Nomad.
Today's my birthday 🎊🎊 my dream now is to meet Andrew
Happy birthday! 🎂
@@nomadcapitalist thank you !!!!! 😸😸😸
when this pandemic is over I'd like to invite you andrew for conference here in the philippines and discuss about citizenship.
The pandemic will never be over. In the first place, it is a plandemic and a scamdemic. They are setting up the New World Order. This is never going away. We are going to be enslaved. Just some people with a bit of money might have a delay in their enslavement.
When it's over 😂😂😂 Keep dreaming bud, this is the collapse of Rome. We're heading into global communism.....if you can't see that you're blind
@@asscrackistan Oh yes it's going to be bad (already is), people can't pay rent, some can't buy food, some died when they weren't allowed to leave their home to work or get food. Yes sir, global communism = global enslavement. Some how your eyes got open. A lot of people never heard the truth but once they do they can see everything - it just takes someone like you or me who can see to tell them.
We have to prepare - the battle is for your soul.
I have to say when I listen to Andrew, I feel more greedy.
You know how good people are by how they look after the poor and also how they treat animals.
Remember this is about your soul - so we have to prepare spiritually for what is coming.
@@CanadianVacations thank you brother, dark times are ahead but there's always light at the end of the tunnel, we just can't see it yet, much love from Dublin 🇮🇪💪🏻
@@asscrackistan Light? Can't see it yet? Yes we can see it. Also, we are supposed to be the light in this world. We are created in the image of God. This is why the dark forces hate us. We are going to inherit the earth. The dark forces are trying to prevent this. They really are demons. There is this movie called. "They Live" it really depicts the truth that some people are real human beings but some are demons. These demons are trying to take us down. But they can not if we stay focused on the light.
The light is........I really want to tell you but maybe you can guess.
Wow you're Irish from Dublin, my grandma came over to Canada from there. So I'm part Irish. I'm a red- head.
What's the value of becoming a citizen in Panama vs plain tex-residency while living there + renouncing my tax-obligations in Belgium?
Perhaps; many US citizens need the citizenship though.
@@nomadcapitalist I love the foundations of what gave us American freedom and prosperity. I understand how the philosophy of individualism (declaration) and subsequent law (constitution) served as the building blocks for our founding documents, the free market, sound money, natural rights and freedom. As the Republic has fallen victim to a coup of central banking and democracy, it has since been a downward spiral into debt and collectivist theft of freedom and prosperity. I havent abandoned my country. My country abandoned me, when it became something polar opposite from the social contract that was established at inception. Im pursuing other options and a plan B, because im not sure how much longer we will have any prosperity, freedom or sovereignty left.
Pursuing residency in Panama as we speak. But, could you consider doing more Colombia content for taxes, business, Medellin real estate, life there, etc. Ive watched everything youve already put out. I know their tax system is more complex and as a current US citizen, i hope this will work out for me and my plan. Hoping to travel there later in the year after panama is squared away. I would call you for your services, but i dont qualify. I make 6 figures, but i will continue to grow. I cannot allow the collectivist states of America to take everything ive worked for. Renunciation is not off the table. They better get their act together, but we both know governments never relinquish power, once its been gained.
Keep up the good work and thanks,
American in spirit
So Andrew, when one is nearly at the 5 year point, perhaps starting a slew of political contributions, to the Panamanian President's reelection committee, or donations to his political party. Is the way to go, to to get your application noticed, and approved ASAP?
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 Exclusion.
Trying to get residency there now. Citizenship in Colombia. I know panama scams people on Citizenship, but ill take the residence for other reasons.
Bro 😎 i am from Panama. All Latin America is the same shit 💩 .......
I am from Panama. Stupid people make stupid society “3rd world 🌎 country”
@@buentaste ive heard good and bad, but from a US perspective, the political and financial risk are much more favorable. Its not the citizens that i worry about. The US is going down and it could become hyperinflationary like Venezuela or Weimar. I have complained for decades of the mistakes that the US government intentionally makes. I am not obligated to go down with the ship.
No place is perfect, but Panama is a territorial tax system, good banking and business, most of the same rights that true Americans believe in, english and spanish languages, the diversity in environments from city to beaches to mountains, etc. Panama has proximity to other countries with opportunity, like Medellin, Colombia. Close to Mexico as well, which many prefer to live in. Much of the world will go down in this fiat inflationary crisis. I dont really want to be anywhere there is a central bank, but that really limits you in the free world.
my great grandma is Panamanian you thing i can get citizenship there
Panama citizenship is possible if you build substantial ties
I'm certain you'll include the vaccine certificate since that's a given. It's going to change a lot of plans going forward.
This provision of the tax code is referred to as the Foreign Earned Income Exclusion.
So what is the general consensus on the government sponsored "invest in teak plan?"
That would lead to a two-year residency permit first, which may later convert into a permanent one. The path for citizenship would only start then.
@@emiliocornejov I used to hear a lot about the teak investments. I wonder how people have done on them financially?
@@bodyloverz30 I understand ROI may be possible after 20-25 years, although some smaller gains may be obtained prior to that from thinning.
@@emiliocornejov Can you buy an existing teak growth, which is near the 20-25 year mark?
@@bodyloverz30 It's going to cost more. Why would a farmer who did all the work sell his crop just prior to harvest for much less than market price? Maybe deduct the cost of harvesting, that's it. The aged growth I see at reasonable prices are 15 years. 25 years is ripe for harvest and replanting.
I have click bro..
Where I can purchase that book u r having in ur hand .
Hi Andrew...
I am not a 7 or 8 figure income earner, but our household income is in the lower 6 figures. I fear that Canada is becoming a liberal dictatorship and I fear for my family's future here. I was thinking of getting a Panama passport, but this video suggests otherwise.
Please can you recommend what is in your opinion the best possible course of action for me and my family?
Thank you and regards to you and your family.
M.
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 if you travel and to panama and open a corporation and then apply for the friendly nation visa and stay there for more than 12 months you qualify for U.S.. tax exclusion
The five-year rule is stated in the Constitution. Modifying this requires either cooperation from both an outgoing and incoming parlament (elections take place every five years) or a general referendum. This hasn't happened for over 16 years.
I've got a query that if the main applicant who's from the Friendly nation list could bring his/her spouse who's not on the list.
Yes, it's possible. As long as the main applicant holds a passport and second ID from one the listed countries, dependents from other nationalities may be included.
cheers mate
Yes, just another $2500 deposited in a bank. She will also need to have a background done through government, if USA FBI and if Europe Interpol.
@@mtngrl5859 thx a lot!
Wow it takes a Skype forever to get to the point I don’t know if he ever does❗️👎
Panama doesn't allow dual citizenship. According to this rule you'll never get a Panamanian passport unless you renounce your own. This might have everything to do with the fruitless wait
So the Panama citizenship is just another scam? I just knew anything they "grant" to foreigners is for the countries benefit. I bet a lot of people spend all those fees (did it cost you 3 or 4 thousand?).....then put 5000 in a bank, then you only have to come back for 1 day within 2 years .....I just bet that a lot of people don't .....and Panama counts on this. Then some people like yourself are serious and stick around.....but will they give the citizenship - time will tell.
Did you have good lawyer?
Officially, maybe. But if it were, that’s not really enforced.
I am a dual US-Panama citizen (born in Panama). I use a US passport to go to Panama, enter as a Panamanian citizen (birth country shows Panama).
I still have the Panamanian SSN and have my bank account there.
@@vvolfbelorven7084hello sir I was wondering are there any good opportunities in Panama?
You have to spend at least a day every two years in Panama or you lose your permanent residency status.
I would like to setup a Wallet Company of Ten Beverage Bottles in Panama SO kindly suggest a suitable plan
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 get the VISA
You didn''t mention that Panama doesn't allow dual citizenships. They expect that you renounce your current citizenship. However as with most things in Panama the authoriites never follow up so most people never get around to cancelling their other citizenships.
not true
@@majortom8047 It is clearly stated in article 13 of the constitution that dual citizenships are not allowed.
"ARTICULO 13. La nacionalidad panameña de origen o adquirida por el nacimiento no se pierde, pero la renuncia expresa o tácita de ella suspenderá la ciudadanía.
La nacionalidad panameña derivada o adquirida por la naturalización se perderá por las mismas causas.
La renuncia expresa de la nacionalidad se produce cuando la persona manifiesta por escrito al Ejecutivo su voluntad de abandonarla; y la tácita, cuando se adquiere otra nacionalidad o cuando se entra al servicio de un Estado enemigo
@@masyapanama1298what u wrote is true but also not 100% true . US citizens for example just sign affidavits saying that they renounce. USA and Panama don’t share info about their citizens directly . There are naturalized US-Panamanians and other country . Can’t speak for other countries
Costa Rica?
I am in the process of filing for residency in CR. Just invest in a property worth 150k or have some kind of pension. Property tax is super low .25%
This guy must love to hear himself talk because boy does he talk too much get to the point❗️