Move To Panama Move To Panama

Panama
Welcome Home
t. 613-236-7177
EMBASSY OF PANAMA IN CANADA
www.embassyofpanama.ca
A little bit about us…
• Population of about 4 million
• 10 provinces and five “Comarcas”
• National language is Spanish / English spoken
• 2 seasons only : Dec. – Mar. : Dry season
Apr. – Nov. : Rainy Season
• Temperatures range from 25c – 32c in most parts
• Mountainous regions see temps. of 10c - 24c
• Largest cities are Panama City, David and Santiago
• Stable democracy since 1989
• U.S. Dollar as currency / Balboas (coins)
EMBASSY OF PANAMA IN CANADA
Why Panama?
Each year more and more people choose Panama as their new home.
• 1 million foreigners currently living in different parts of the country
• 52,000 Canadians travel to Panama each year
• 160 Canadians move permanently to Panama each year
• Pensionado Visa or Friendly Nations Visa make it easy
EMBASSY OF PANAMA IN CANADA
Low Cost of Living
• Minimum wage is $600
• Cost of living is $2,000 US a month in city
• $1,500 US in a more rural setting.
• Groceries are about 60% lower than in
most place of North America.
living
Convenient Visa Programs
• One of the world's most generous
retiree programs.
• Many benefits and discounts for people
over 55.
• A pension of $1250 US per couple is
required
• Processing times are less than 6 months.
• Other options through Friendly Nations
Visa available with a $5,000 US
investment
EMBASSY OF PANAMA IN CANADA
The US Dollar as
Currency
• US Dollar keeps
Inflation low
• Keeps economy
stable
Although Panama is a small country, it
has a great variety of world-class
attractions:
activities
EMBASSY OF PANAMA IN CANADA
• Exotic tropical rainforests
• Bird watching
• Hiking
• Casinos
• 2 coasts-Caribbean and Pacific
beaches
• More than a 1,000 islands
• 7 living indigenous cultures
• Vibrant, sophisticated capital city
• First class all inclusive resorts
• Exotic off-the-beaten-path getaways
• Unesco World Heritage sites
• World class golfing
• Sport fishing
• The Panama Canal.
• Travel from the Atlantic to the Pacific
in less than 3 hours!
Easy to Get Around
• Taxi or Uber Service - Under $7 in the city
• PanAmerican Highway – Drive safely from
the Costa Rican Border to the Darien Gap in
less than 12 hours.
• Albrook Terminal – Bus tickets from Panama
City to anywhere in the country are available
for under $15 dollars
Safety
• Safest country in the
region for tourists and
foreigners.
• No hurricanes or
earthquakes
• Air Panama- Fly from Panama to David,
Bocas del Toro, Rio Hato, Colon and Azuero
for under $300
EMBASSY OF PANAMA IN CANADA
sightseeing
people
“For the second year,
Panama leads all
other countries in
well-being”
2014 Gallup-Healthways Global Well-Being Index
Friendly globalized people will make you feel welcomed the moment you arrive.
• Diverse immigrant culture • English spoken widely
• Foreigner Friendly
• Named happiest people in the world two years in a row
• Large expat communities in Gorgona, Coronado, Decameron Villas and Boquete
• Named the best place in Central and North America to retire by International Living
EMBASSY OF PANAMA IN CANADA
Connectivity
• Direct Flights from Canada:
COPA AIRLINES
-Toronto-Panama City: 5
weekly flights, year round
-Montreal-Panama City: 4
weekly flights, year round
AIR TRANSAT/SUNWING
EMBASSY OF PANAMA IN CANADA
- Toronto-Panama City: 1
weekly flight, October to
April
- Toronto-Rio Hato:
1 weekly flight, October to
April
- Montreal-Panama City:
1 weekly flight, October to
April
- Montreal-Rio Hato:
1 weekly flight, October to
April
cuisine
Visitors will be amazed by the restaurant scene in Panama.
• Reasonably priced restaurants with a wide variety of cuisines
• Full meals for $3.00 at local “Fondas”
• North American chain restaurants
• Unique variety of flavours from Michelin starred local chefs
EMBASSY OF PANAMA IN CANADA
Panama has the best
shopping in Latin America.
• Large chain grocery stores
• World Class Malls:
- MultiPlaza Mall
- Albrook Mall
- MultiCentro Mall
- Metro Mall
- Westland Mall
You will find it all in Panama.
shopping
EMBASSY OF PANAMA IN CANADA
Venues of all climates popular with expats
variety
Panama Province:
Cocle Province:
Chiriqui Province:
•Panama City – Casco
Antiguo, Paitilla, San
Francisco, Avenida Balboa,
Cause Way
•Coronado & Gorgona –
popular expat beaches.
•Los Altos de Maria - a cool
mountainous community.
•Rio Hato – Decameron
Villas or Playa Blanca Villas:
white sand beaches 1 mile
from airport with direct
flights to and from Montreal
and Toronto.
•El Valle - a small
mountainous town popular
for low cost of living, hiking
trails, bird watching and cool
climate.
•Boquete, Volcan, Cerro
Punta - mountain towns
offering stunning scenery,
cool climates, hiking, and bird
watching
EMBASSY OF PANAMA IN CANADA
•David - Panama's 2nd largest
city, popular for its lower cost
of living and modern
conveniences.
First Class Financial Services
• Sophisticated banking sector
• Over 100 local and international banks – Scotia
Bank, HSBC, Citi Bank, Swiss Bank, Merryl Lynch
• Personal and corporate services / Privacy Laws
• No taxes on offshore profits.
lifestyle
Affordable Medical care
• World-class and inexpensive health
insurance and health care
• Easy access to private hospitals
• No referrals or long waits to see Drs.
Panama boasts several state-of-the art hospitals, including
Punta Pacifica, which is considered the most technologicallyadvanced hospital in Latin America and is affiliated with the
Johns Hopkins Hospital in Baltimore, MD.
EMBASSY OF PANAMA IN CANADA
visas
Pensionado Visa
Overview:
This visa allows you to Obtain legal permanent
residency in Panama under the condition that you
receive a monthly pension of at least $1000 US per
person of $1250 US per couple. There is no
minimum age to qualify, and holders of this visa are
allowed to bring in one automobile for personal
use every two years, free of tax, and a one time
$10,000 tax exemption on the import of household
or personal items.
Procedures for Applying:
1. Obtain a Panamanian lawyer and sign power of
attorney.
2. A short visit to Immigration Panama for passport
registration.
3. Provide all required documents.
4. Your lawyer submits your application for the
Pensionado Visa. After the application is
submitted, within approximately three months,
the Immigration Department will approve your
visa and issue your permanent resident card. If
you will not stay in Panama, a second short visit
to Panama is required for you to personally have
your official picture taken at the Immigration
office.
EMBASSY OF PANAMA IN CANADA
visas
Pensionado Visa
Benefits:
Under Panamanian law certain discounts and
benefits apply to all pensioned residents
regardless of age and all resident women over 55
and men over 60, regardless of nationality.
Discounts include:
• 50% of price charged for entrance to recreation
and entertainment activities, such as movies,
theatres, sports and other public productions
• 25-30% off buses, trains, and airline tickets.
• 30-50% off lodging
• 5-25% off restaurants and fast food
establishments
• 15% off hospital services and private clinics
• 20% off consultation fees of general medicine
doctors and medical and surgical specialists.
• 15% off dental services and optometry
• 20% off technical and professional services.
• 20% off all prosthetic devices as well as those
items and accessories of personal assistance.
• Up to 25% off your monthly electrical bill
• Up to 25% off basic phone service charges
EMBASSY OF PANAMA IN CANADA
• Up to 25% off your water bill
Friendly Nations Visa
visas
Overview:
This visa allows citizens of certain countries,
including Canada, to obtain legal permanent
residency in Panama under the condition that they
are going to undertake in economic or professional
activities of any type in the country. Proof of
financial solvency, bank statements and bank
reference letters in Panama or Canada that show an
average monthly balance of at least $5000 US
Procedures for Applying:
EMBASSY OF PANAMA IN CANADA
1. Obtain a Panamanian lawyer and sign power of
attorney.
2. A short visit to Immigration Panama for passport
registration.
3. Provide all required documents.
4. Lawyer submits your application for the Friendly
Nations Visa. Immediately after, your lawyer will
coordinate a visit with you to the immigration offices
in order to obtain one year temporary ID.
5. Once you have your temporary ID, your lawyer will
request a Multiple Entry & Exit stamp on your
passport. This takes about 3 days. Once you obtain
the stamp, you are free to leave the country.
6. After the application is submitted, within
approximately six months, the Immigration
Department will issue the final resolution approving
your permanent residency and you will receive a
permanent resident card.
visa
visas
Economic Solvency Visa
Overview:
This visa is designed for those who wish to live
permanently in Panama, on their own means. There
is no minimum age required to qualify.
There are 3 options available for this visa category:
a. Invest a minimum of US$300,000 in a 3 year time
deposit at any licensed bank in Panama.
b. Invest a minimum of US$300,000 in a titled
property in Panama to your personal name or in
the name of a private interest foundation.
c. Invest a minimum of US$300,000 combined
through a 3 year time deposit at any licensed
bank in Panama, PLUS a titled property in your
personal name or in the name of the foundation.
The two principal stipulations for this visa are:
a. The real estate property or time deposit has to
be free and clear of any liens.
b. The primary applicant must also prove that he or
she has an income to support his or her general
costs of living. This can be accomplished by
providing a bank reference letter showing
deposits from 4 mid to high figures.
Procedures for Applying:
Similar to Friendly Nations Visa. Details available
EMBASSY OF PANAMA
PANANA IN
INCANADA
CANADA
Welcome Home!
Useful Links:
• Real Estate and Rentals: www.encuentra24.com
• Tourist Information: www.visitpanama.com
http://panamainfo.com/en
• Getting around: http://panamainfo.com/en/listing/albrook-mall-bus-terminal
www.airpanama.com
• Medical Care: www.hospitalpuntapacifica.com
www.hospitalsanfernando.com (In the city and Coronado)
http://wwmedicalassurance.com/
• Get Started: www.embassyofpanama.ca
EMBASSY OF PANAMA
PANANA IN
INCANADA
CANADA
EMBASSY OF PANAMA IN CANADA
Alberto Arosemena Medina
Ambassador