Welcome to Panama

What happened 1989 in Berlin, when the infamous wall ultimately fell, now happens to the fine people of Hong Kong, but backwards.

Not before Germany’s re-unification, we could begin doing business on our own, finally. After this had been established successfully, we began looking for a new place to live.

Watching the situation around Hong Kong develop over the last months, was kind of a time travel for us. We know already what’s ahead of you people.

Many will stay and fight for the freedom of Hong Kong, others will decide for a fresh start somewhere else. Both are legitimate decisions.

Source: paoloruffini.com

Since having settled in tropical Panama, I am writing a blog about it for German speaking folks, looking for greener grass on the other side of the big pond.

Panama is, for many of us expats here, an underrated destination. Sure, it is still a long way to go until we can compare with Hong Kong or Singapore, but the country is willing to go along this route. Having more international business people relocate to Panama would not only make it happen faster, but open a whole new and exciting world for them.

Doing some business here for more than 10 years, we have excellent connections to immigration & incorporation lawyers, to relocation guides & real estate brokers.

The purpose of this blog is to inform about an exciting destination, about the conditions to live and do business in Panama.

Who am I? My nickname is Jay, a German, graduated engineer, business owner, blogger and private pilot.

    

Having travelled more than 50 countries, done business in Europe, Asia and the Americas, living in Panama since 2008.

Luckxus Promotions S.A., one of my businesses, is developing and implementing innovative luxury real estate concepts. Here is an example (downloading a brochure).

Contact information: libertado(at)tuta.io

Want to learn more about Panama, tailored for Hong Kong? Come back often.

Best permanent residency option in Panama

The Republic of Panama has a number of easy options to obtain permanent residency. The best one is tailored for “citizens of friendly nations with professional and economic ties with the Republic of Panama”. There is a list of 50 nations and Hong Kong is one of them.

Source: puntapacificarealty.com

Another advantage of Panama law comes in handy here: incorporating a Panama corporation, at the time of immigration procedure, proves the professional and economic ties mentioned.

Furthermore, Panama has a territorial tax system, what means that any income from outside Panama is tax-free.

Panama’s banking system is stable and still paying solid interest for fixed-term deposits. Such income too is tax-free.

Panama has a healthy real-estate market with many upscale apartments along the Pacific Ocean, with prices far below what you are being used from Hong Kong, while the Panama City skyline is almost as impressive.

Next post will look at the economic standing of Panama, as home of the Panama Canal.