Panama City - Trip Report and Advice

Discussion in 'Travel' started by Soni79, Jul 4, 2017.

  1. Soni79

    Soni79 Well-Known Member

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  2. the lockmaster

    the lockmaster Well-Known Member

    I happened to read your first post bro.

    I still agree, if you don't have much time then Panama City sounds like a decent place to go if you want to sample the South American Talent.

    Personally, I would try and extend it into a longer holiday and visit Costa Rica as well. That's because I like to do some of the touristy things and see the natural beauty that countries have to offer.

    But for a quick getaway from the US. PC sounds ok.
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  3. brockstar

    brockstar Legendary Member

    Good job. Can't really say I've ever been too enticed by seeing Panama (or Costa Rica). From what I've heard is that it's mainly chicks from DR and Colombia, but you're paying way more for them than you would in their home nations (just like you do for LBFMs and Indo ladies in HK). I've only done TJ, but I do want to see MX City and a few other countries in South America; Colombia, Equador, Peru...maybe even Chile and Bolivia. As for Central America, other than Panama and Costa Rica, it seems a bit dicey.......though I have heard Nicaragua isn't so bad. I aint had no Latina snapper in three and a half today I'm jonesin' would be an understatement. :cool:
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  4. Skins

    Skins Head Nigga in Charge Staff Member

    Great write up. Thanks for sharing. I would like to put this on the blog side if you don't mind. I don't want it to get buried here.

    Panama has come on my radar recently and here’s why. It’s extremely easy to get residency in Panama. You put $5,000 in a bank account, start a company and you’re done. You can live there all year if you want.

    The great thing is Panama does not tax companies or residents on any income earned overseas. So if you’re a “digital nomad” this is a great set up.

    Another good thing is once you are a resident for five years you can apply for citizenship. Easy second passport. And here’s the good news. You can qualify as a “resident” if you just visit one day a year. Not a bad deal for those looking for a cheap second passport and a tax free offshore company.
  5. Ghengis

    Ghengis Well-Known Member

    Nicaragua also welcomes expats with generous incentives. I would be there now if their women were as beautiful as Venezuelan or Colombian chicas.
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  6. Sean

    Sean Well-Known Member

    That might be enough for me to do my ED visa flights in Panama city instead of Vientianne! Doubtful if anyone would know if they're a good one to go to or not (apparently some are a giant hassle)
    Soni79 and Skins like this.
  7. JohnnyB

    JohnnyB Well-Known Member

    Nicer version of my original rebuttal:
    -Panama City is a business town; no reason to hang there unless you are working or bookending a fishing trip somewhere else in the country
    - Trump hotel for $140/n is one of the better luxury deals I've come across. Infinity edge pool on the mid-teen floor melts into the ocean. Gorgeous.
    - it's never crossed my mind to monger there as the girls are super easy to pick up if you are well-dressed and know enough Spanish to make them laugh. Tantalo is my favorite spot in Old Town. Amazing food and rocking rooftop bar. If you can't pull tail from there, I don't know what to tell you. Head to the casino I guess.
    - @Skins is correct regarding PTY being a great home base for digital nomads. Safe banking, rule of law, US-type institutional structure.
    - for mongering, Costa Rica is the Thailand of the Americas. Main action is in San Jose and Jaco.
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  8. JohnnyB

    JohnnyB Well-Known Member

    Also, Copa Airlines is headquartered in Panama City, making it arguably the best connected city in the americas, which is great if you are doing business in multiple countries in the region. Almost everyone is a single flight away.
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  9. Skins

    Skins Head Nigga in Charge Staff Member

    Panama City looks nice. Here's a video from Jubril "Mr Think Outside The Box."

    I think it would make a good "home base" for the nomadic types. I might go ahead and start a company there just so I can get that passport. FYI I read that USA does NOT recognize Panama companies for tax purposes. :rolleyes: So if you're American looking for a tax shelter you should go elsewhere.
  10. JohnnyB

    JohnnyB Well-Known Member

    More than that - you can't just open an account. The Panama banks require all sorts of fun like personal banking references to take on american clients thanks to US banking regulations. But at least they still accept american clients, unlike some euro institutions.
  11. JohnnyB

    JohnnyB Well-Known Member

    Funny the video shows the pool at Trump. If you go, avoid the Hard Rock at all costs. It's horrible, the elivators don't work, and it's the only place in town with a guest policy.
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  12. Soni79

    Soni79 Well-Known Member

    Other than the Veneto
  13. Skins

    Skins Head Nigga in Charge Staff Member

    I want to ditch my passport ASAP.
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  14. JohnnyB

    JohnnyB Well-Known Member

    If you got the cash, Malta is selling EU passports. Panama isn't a bad option; Uruguay is also solid and 3/5 years depending if you are married. Don't forget the US charges an exit tax when you declare - and keeps taxing you for 5 years.
    Skins likes this.
  15. Skins

    Skins Head Nigga in Charge Staff Member

    They make you pay taxes for 5 years after? Are you fuckin kidding me? I never heard that before. That's insane.
  16. GuidoSexMachine

    GuidoSexMachine Well-Known Member

    Although this used to be true it is no longer the case. Now all you do is file a final return for the part of the year when you were still a citizen. That final return also includes Form 8854, which lists what, if any, exit tax is due.
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