The Advantages and Disadvantages of Life in Panama - with Calvin

[@christiankalb]

Great interview! I love how it's unfiltered and authentic. Very helpful information for expats. I just obtained PR in Panama last year and I've done a ton of research, this was one of the most helpful videos I've seen so far. Would love to see a longer version or podcast version of the 2nd episode! Thank you!

[@panama-canada]

The rail, high speed or otherwise across panama will be a gamechanger for the development of the region and good inroads for the chinese also.

[@ShamileII]

Great interview! I really appreciate the frank and open discussion.

[@jindandy7826]

Awesome info that I wasn't hearing elsewhere. Thank you!

[@terracruiser89]

Much of what this man says is true but I did not experience many things he talks about. I lived in Boquete for three years. I never saw any advertising for gun sales. I never saw anyone carrying a gun. You can get a gun easily but if you are an expat and shoot a Panamanian you better get out of the country fast. You will be sent to jail. It won't matter that the person you shot was coming at you with a machete or a gun. He shows his hand calling people "rednecks". Boquete is a beautiful place. A very quiet place.

[@danielacosan4200]

Panama is a country without judicial laws, those who dominate justice are the same politicians. I do not recommend living there.

[@DBStoic]

Informative and balanced! Great interview.

[@Pathfinding-earth]

9:32 Panama is not for tourists, its for adventurers, sadly we don't advertise tourism, so you have to look for yourself or ask a resident for advice on what to do, and what to see apart from the usual places.

[@Frank-xp3xd]

After having traveled for more the 3 years in Latin America I haven chosen Panama as my country of residency. It wasn't love at first sight but like you said, it just makes a lot of sense and I feel kind of stable and free here. Having spent also a year in Mexico I do understand your feelings. Saludos

[@Flat_Earth_Sophia]

Why?

[@p.c.h.6721]

I’m debating between moving to Mexico or Panama, any thoughts since you’ve been in both countries?

[@Frank-xp3xd]

@@p.c.h.6721 That's a tough decision. I love Mexico, it's a beautiful country with a lot of culture but also with organized criminality. Residency in Mexico is probably easier to get. Panama has tax advantages (if you are not from the US). Panama is tropical with lots of rain. I recommend you traveling to these countries before you make a decision but Mexico is huge!

[@p.c.h.6721]

@@Frank-xp3xd Thanks for writing back. I’m not from the US, I’m from Spain, so I speak Spanish and that obviously should help. I know it’s a difficult decision, I guess I’ll have to visit both countries, in Mexico I was looking into Merida in the Yucatan, and Querétaro. And in Panama I will have to go and check it out, but it looks great as well. I know Taxes in Mexico are high, although from what I’ve heard the tax authorities of Mexico are not really going after foreigners, but I don’t know if that’s true or not (everybody is now required to get an RFC for tax purposes) I make a living from trading stocks, investing in the US stock market mainly, so I’ll have to speak to a tax advisor, but Panama is also very attractive, and as a long term plan seems to make better sense. Anyway, I try to think that if my main problem is whether to move to Mexico or to Panama, that’s not a bad problem to have 🤣 👍

[@Frank-xp3xd]

@@p.c.h.6721 Merida is borring. Central Mexico is so beautiful. Mexico City, Guanajuato and look for pueblos magicos. Pacific Coast is nice as well. Hay Narco en todos partes pero en un ano viajando nunca tenia problemas. Queda en los zonas turisticas o centros historicos y disfruta, es hermoso!

[@beekaye1496]

There’s no disadvantage living in my home country, you just have to adapt if you not from our country.

[@RFXZ67966]

This guy definitely didn't sell me on moving to Panama but I'm still interested in the PR

[@TheWanderingInvestor]

Great. Wi Men and Giovanna can help you get residency in Panama thewanderinginvestor.com/services/residency-and-citizenship-by-investment/how-to-obtain-residency-in-panama/

[@jgm3620]

Very interesting and informative video. Real life experience and honest feedback

[@teachingrounds]

Great conversation

[@blikewat3r]

You sold me at “it’s so dysfunctional you don’t get bothered” 😅👍

[@PanamaequityRealEstate]

Solid content guys!!

[@albertomanuelcheung7103]

Wrong to say that you don't have to pay your taxes, as property taxes. The DGI (equivalent to the Finance Dept) will eventually get you. Especially, if you are going to sell your property. You need to have the Paz y Salvo (the document that proves you are totally solvent and free of debt). Its true that Panama is a country where you can have a gun (with a permit), and backed by the Constitution similar to the Second Ammendment in the US, but no one is flaunting or advertising guns around the country. And last, but no least.... bills, all required an address. In Panama addresses are determined not necessarily by streets and house number as in other countries, but by the name of the building where you live, followed by the suburb where you are located.

[@PolarBearPredator]

How is the quality of the roads in Panama City, Panama? I know the freeways are pretty good but I want to know about what the roads are like inside Panama City, Panama specifically not so much what is outside the city as I won't be driving there at all. I heard they are poorly maintained but they look as good as any US or Canadian city to me from all the videos I've seen. Can anyone share their experiences? Thanks!

[@TheWanderingInvestor]

@@PolarBearPredator yes, pretty average

[@dovygoodguy1296]

Do you need a car in Boquete? Especially over 65? How do folks get catastrophic coverage? How bad is the garbage accumulation situation?

[@charlesogier6469]

Ladislas, could you please advise on the "arco seco" region near Coronado/ Nueva Gorgona/ Chame ? It's about 1h30min from the main city (Panama City), but with a better climate (not so much rain, a fairly decent beach on the pacific side), with some good level of shops and expat scene. Maybe that could be a good option as well, did you check ?

[@TheWanderingInvestor]

I haven’t been. But it sure sounds nice the way you describe it :)

[@jesinchoi3456]

I moved here from Korea 4 years ago, and the weather here is definitely good and there are almost no taxes. For example, if you invest in stocks, there is no capital gains tax, and for dividends, Hong Kong companies do not have taxes, British, Brazilian, and Colombian companies do not have taxes, and Australian companies charge a 5% withholding tax. Spanish companies charge a 20% withholding tax, Chinese companies charge a 10% withholding tax, and American companies charge a 30% withholding tax. This makes the tax very low. Compared to when I lived in Korea, my tax is reduced by 90%. I live in the Costa del Este area of ​​Panama City. It is a safe place, a new city, and everything is convenient. It takes 10 to 20 minutes to get to Panama International Airport. Agricultural products are cheap, and it is easy for the elderly and women to drive.

[@TheWanderingInvestor]

@@jesinchoi3456 nice!

[@stanislavpolivyanenko919]

I am curious how someone like Calvin is dealing with the US taxes. As a US citizen he’s supposed to continue paying US taxes even, even if the income is coming from a foreign source. Or did he renounce US citizenship?

[@TheWanderingInvestor]

Yes. He must pay US taxes but with good structuring and being a tax resident of Panama he can benefit from various exemptions. Leaving the US can be very beneficial from a point of view for US people as well. Not tax advice.

[@chriso5842]

He might use the Foreign Earned Income Exemption on the first $120k of income. Still needs to file and pay social security and I think Medicare.

[@emiliocornejov]

​@@chriso5842either that or heavtually filed for his citizen renunciation.

[@griffini19]

Exactly

[@agrossfarm]

Most banks have armed guards with metal detectors and you will not be allowed into a bank if you are carrying a gun.

[@TheWanderingInvestor]

Yup. Keep it in the truck 👍

[@Jepi369]

so whats his name? where can i find the next programmer event where you help programmer move to panama?

[@normagertz9055]

Great interview!

[@paolowright6420]

Boquete is in Western Panama! Not Northern Panama.

[@lamuka99]

So what’s the best Korean restaurant in Panama City

[@DerPanamaKanal]

He summarized it really well! Great video.

[@micomarinas2753]

can you make a video about the Saudi premium visa and is it highly profitable to invest in real estate in the new city that the Saudi government is constructing.

[@TheWanderingInvestor]

Not until I go there to check it out myself.

[@Flat_Earth_Sophia]

Who would want to live in a dangerous 3rd world nation though? Also, you need to be 21 to apply.

[@kd8199]

@@Flat_Earth_Sophia as opposed to living in the country with the most mass shootings in the world? That’s where I live now.

[@Flat_Earth_Sophia]

@@kd8199 Still better places. Why not move to Canada or the US?

[@kd8199]

@@Flat_Earth_Sophia - I live in the US. I retired here. I’m doing fine but many retirees are finding it too expensive. That’s why they move. That’s why Latin American countries make retirement visas an easy process. Many retirees want a better life living sometimes on just their social security checks.

[@agrossfarm]

When asked about International Relations of Panama, it was stated that the Chinese run the Canal. They Don't. The Govt. of Panama runs the Canal. It was also said that there is even a large Chinese neighborhood in Panama City, which is true, but neglects to point out that the Chinese started coming to Panama when the Canal was being built, so that people with some Chinese heredity make up about 25% of the population. Calvin even mentioned that he went to a "Chino", which is local slang for a neighborhood store, open long hours, and often owned and/or run by Panamanians who are of Chinese heritage. This has little or nothing to do with the Govt's international relations. American citizens likely own more than Chinese citizens, in Panama, partly because many of the wealthier Panamanian families married Americans during the US administration of the Canal Zone. The Govt. of Panama, like the Govt. of the USA, recognizes the People's Republic of China as the only Govt. of China. The Govt. of Panama welcomes immigrants, especially if they bring money to spend and invest, and they encourage new businesses that employ Panamanians, by providing tax breaks.

[@monikaleszko5343]

Is it easier for a Canadian to buy in Panama rather than Dominican Republic?

[@MyLatinLife]

Good intel!

[@julienb7080]

Where is the better place to invest in 2023? Dubai ? Bali ? Panama?

[@hayleterry310]

I am interested in purchasing a home in boquete Panama

[@TheWanderingInvestor]

@@hayleterry310 Great. This article will be helpful: thewanderinginvestor.com/international-real-estate/the-pros-and-cons-of-investing-in-the-boquete-real-estate-market-in-panama/

[@loricoil1732]

US taxes any money you make anywhere, no matter where you live or the origin of the income.

[@PolarBearPredator]

2:25 ya right they not getting any information from me on any income outside of Panama. Declare it but they won't tax it ya right ok sure. GT#H.

[@milo23-v4s-z7y]

Yes, I fell like that to, half of my salary gone for gov who are doing stupidities and frauds, plus. Done, Bye Qc! Robert Nozick, Anarchy, State, and Utopia. Thank you Panama is a nice place, Hungary looks more like our life style, lots to think about. Fantastic videos😊 I see that you like dangerous places, Mexico etc :) Not enough safe from my view. ❤

[@dovygoodguy1296]

The truth is that Calvin didn't choose Panama, because most Panama is unappealing. We can say Calvin and you also wanted to leave the US but chose Boquete which happens to be in Panama. Even for older people. Do Calvin or you feel life in Boquete as in a ghetto or bubble because of the comfortable climate?

[@This_da_life]

ya know ?

[@favilesp46]

17:07 what a crock of bs. All lies. No one can go to a bank in Panama waving a gun without consequences.

[@gregorywandersaround6178]

Seeing tons of Chinese people in Panama? Thanks for the heads up. I had some high hopes too. Oh well.

[@devilfriend]

Interesting interview. Americans have a weird and almost scary idea of what freedom means to them.

[@dovygoodguy1296]

The problem of the Venezuelan migrants is the same in Colombia as well.

[@Molloy1951]

This interviewee is full of sheet, to say the least. Too much ideological misleading opinions and wrong facts about labor laws and economics. 😅

[@user-ju5vh4wl9g]

Actually Trump didn’t destroy America. Biden sure had though.

[@user-ju5vh4wl9g]

Has*

[@kellybrennan7926]

Very disappointed to hear there's so many people with guns living there. One of the reasons I'm considering moving from the states is to get away from all the frightened people who need to own guns! Are the retirement communities less likely to have a lot of people with guns, or are they everywhere in Panama?

[@Lucas-wv6wf]

Go to Europe, no guns allowed there

[@kellybrennan7926]

@@Lucas-wv6wf but not very affordable 😕

[@Lucas-wv6wf]

@@kellybrennan7926 That's true, but Portugal remains relatively affordable. By the way, even though firearms are legal here, you don't see mass shootings like in the U.S. The issue isn't the guns themselves, but the people.

[@NavitShchigel]

Retire in Thailand. Cheap. No guns. Lots of ex pats

[@Flat_Earth_Sophia]

Why not make some videos of places that are actually affordable? I am one of the richest millionaires, and I cannot afford any of these places!

[@xyork]

What an incredibly stupid question

[@guillermogouldburn763]

How about we start with Haiti?

[@kd8199]

Then you can’t afford the US.

[@Flat_Earth_Sophia]

@@kd8199 The US is the cheapest nation in the world. What are you talking about? Who even mentioned the US? Panama is it's own country.

[@Flat_Earth_Sophia]

@@guillermogouldburn763 Too expensive. Low paying jobs. How do you pay $1,000 a month rent if you are making $30 a month? And some of the worst crime in the world. Not a good pick.

[@BO_Riddle]

Let’s be clear, I think it’s unfair for you to say that Trump destroyed Usa when his every move was to put usa first.

[@shaneburry2915]

Let’s be clear. Trump will destroy the US if elected again!

[@rgenjic7076]

For the record, go back and listen to what was actually said. Some people used the election as an excuse to move away from the U.S. because the person elected was going to destroy the country, and it was regardless of who got elected.

[@AngelRuiz-wk2hf]

I totally agree with you if it wasn’t for Trump the United States would have been a dump like it is now in 2024. “Trump 2024”

[@pygmalioninvenus6057]

He puts another country above all else, and you know what that country is. It’s not the US.

[@griffini19]

You have been conned. He only cares about himself. What a con artist.

[@guillermocharafedin]

Great and useful interview!