Expatriation: Top Fifteen Reasons To Relocate to Panama

by Russell D. Longcore

Here at DumpDC.com, we want you to consider all your options as you prepare to weather the economic firestorm coming soon to a state near you.

Friday, we told you about the Texas Nationalist Movement, and we think living in Texas would be the first choice of those serious about continuing to live in North America.

Saturday, Dr. Gary North gave another opinion about moving to better environs, and gave great suggestions on how to do a proper evaluation to find your new location.

Today, let’s look at my favorite choice for a place to live outside North America.

Top 15 Reasons to Relocate to Panama

1. Dollar denominated currency

At this point, the Panamanian Balboa and the Dollar are tied to each other. If you relocate before TSHTF*, you’ll be able to use your dollars freely throughout the nation. After the dollar melts, it will be anybody’s guess what Panama will do. But my opinion is that they will choose money that suits the rest of the world, since Panama relies on the world for most of its income.

2. Year-round growing season, abundant fresh food.

Matthew 24:20-21 “But pray ye that your flight be not in the winter, neither on the sabbath day. For then shall be great tribulation, such as was not since the beginning of the world to this time, no, nor ever shall be.”

If THSTF in fall or winter, what will you be doing to feed yourself and your family? There are very few places in the continental USA that have climates that sustain year-round growing seasons. Panama is near the equator, and the soil is volcanic. Stick nearly anything in the ground in Panama and it will grow year around.

3. Abundant clean water

Panama has a rainy season that fills the rivers and lakes and aquifers every year. I’ve drunk Panama tap water and never had one problem with it…and it’s delicious. Moving into the future, many nations will have potable water shortages. Not in Panama.

4. Tropical climate, little HVAC required

Panama is about 8-9 degrees above the equator, so it’s a tropical climate. But there are prevailing westerly breezes off the Pacific that temper the climate. Panama City is as hot as you might expect. But temperatures in the Panama highlands are 10-15 degrees cooler. Imagine living in a place where the temps never go below 60 and never above 85…year around. One of the most surprising things I discovered is that most houses built up in the highlands are not built with a central heating system. Wrap your mind around that. Think how much money you would save if you didn’t have to heat your house.

5. Government is stable

Panama is well run. Sure, there is corruption. What government doesn’t have corruption? But post-Noriega Panama has been run pretty well.

6. Government is pro-immigration

Panama welcomes immigrants. The resident visa program is very popular. The “Turista Pensionado” visa is the best known. Anyone entering the country as a qualified pensionado is guaranteed to retain that legal status as long as they choose to stay in Panama. And you do not have to be a retiree to qualify for this visa.

7. Panama has the Pensionado program

Panama has the Pensionado Program for retirees. Discounts and tax benefits of all sorts are offered to retirees. Check it out.

8. High-tech backbone for the Internet

All of the fiber optic cables that connect the entire world run along the bottom of the Panama Canal. Consequently, a high-tech community has sprung up in Panama. Internet connection speeds are blindingly fast for obvious reasons.

9. Panama has no taxes on income earned outside Panama

This is a huge benefit, and stands in stark contrast to the US which taxes Americans globally. In my own situation, 100% of my business activity is outside Panama, but with the bandwidth and speed of the Panamanian Internet, I could live there with no Panamanian tax liability. And your pension or Social Security payments can be sent anywhere in the world.

10. National economy growing

The Panama Canal is being expanded to accommodate Supermax shipping. The canal is scheduled to be completed by 2014. Canal income will skyrocket for the Panama government. Their economy is growing by over 8% per year, and will continue into the future.

11. English widely spoken

Because of the American presence in the old Canal Zone for the past 100 years, English is widely spoken. Sure you should learn Panamanian Spanish, the official national language. But it’s great to be able to speak English most everywhere in Panama.

12. Only four hours by jet back to the USA.

Miami and most of the South and West is a four-hour plane ride from Panama City. I catch a jet in Atlanta and step off the plane in Panama City four hours later…which is due south of Atlanta.

13. Low cost of living

Panama has one of the lowest costs of living in all of Central and South America. An average house can be built for less than $50/square foot. Learn more at that link in #7.

14. Escape US regulations

Think of all the Washington regulations that you won’t have to deal with simply because your physical body is no longer in America. Most everything is less expensive in Panama because it doesn’t have the cost of American regulations built in.

15. Dual citizenship available

Panama offers dual citizenship, but it’s expensive. You must live in Panama for five years in order to apply for citizenship. Knowing Spanish and Panamanian history are also required. Proving your financial solvency, your medical condition and many other “paperwork” details are also included in the process. But it can be done. First, move there. Then decide if becoming a Dual Citizen is to your advantage.

Conclusion

There are lots of cool places to choose for expatriation. One of the most important things you must remember is that, unless you are an American Indian, your ancestors expatriated to the USA. My people came from Germany in 1742. I think often of Johann Jacob Langhaar, our patriarch, who brought his wife and infant son to America. He left family, friends and his family history to start anew in America. What motivated him? Was he moving to…or fleeing from?

You’re going to have to make the same choices. Even no choice is a choice. You either plan and choose your life, or react when TSHTF.

DumpDC. Six Letters That Can Change History.

*The Shit Hits The Fan

© Copyright 2011, Russell D. Longcore. Permission to reprint in whole or in part is gladly granted, provided full credit is given.