Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Sovereign Man (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

This is a great option for anyone’s Plan B

% of readers think this story is Fact. Add your two cents.


It seems like every time I come to Panama now the first word that springs to mind is “impressive”.

I first traveled to Panama back in 2003… fourteen years ago.

I remember landing at Tocumen International Airport for the first time– it was a depressing backwater that was barely functioning.

And on the way into town there was hardly any sign of civilization; everything seemed completely impoverished.

Basically Panama was just another third world toilet bowl back then.

But over the years as I kept coming back, and even as I lived here back in 2007, Panama really started to grow… thanks in large part to the expansion of the Canal.

Economists can quote figures about GDP and foreign direct investment to measure growth, but what really matters is standard of living.

And people here are living MUCH better than ever before.

Panama’s middle class has exploded, growing from almost nothing to more than a third of the population… and rising. It’s far higher in the capital city.

They’re able to afford the basics that Western countries take for granted– air conditioning, washing machines, laptops, televisions, smart phones, Internet access, etc.

Home and vehicle ownership have soared (contributing to Panama City’s horrendous traffic).

And since Panama has become a major international hub for trade, transportation, tourism, business services, and finance, the job market is robust.

This isn’t some country where the locals are all picking bananas; there are plenty of meaningful careers and opportunities available to people who work hard.

And unlike in the United States where wages haven’t kept pace with inflation, Panamanians become wealthier each year.

The transformation has been incredible.

Today Panama City is easily the most cosmopolitan capital in Latin America with a bustling skyline and nightlife that rivals Miami’s.

Everywhere you look there are clear signs of prosperity (and hence business and investment opportunities).

And that trend will likely continue.

I just came out of a meeting with a senior government minister in which we discussed a wide range of projects and incentive programs.

They’re keen to continue attracting more businesses and industries here, and I was pleasantly surprised to see that the minister had a particular interest in cryptofinance and how it might be implemented.

Bear in mind, this is a country where just about anyone can come and obtain legal residence to live, work, and set up a business. It’s great.

It’s called the “Friendly Nations Visa”, and it provides an easy framework for people from just about every country in Europe and North America, along with Australia, New Zealand, Singapore, Chile, Argentina, Uruguay, Israel, Japan, Hong Kong, and South Korea.

Basically you have to deposit a small sum of money in a Panamanian bank and submit an application packet to the authorities.

(By the way, Panamanian banks tend to be extremely conservative, liquid, and well capitalized, plus it’s a US dollar economy so you might not even have any exchange rate risk.)

Through this visa you can ultimately receive permanent residency in the country, which will remain valid even if you don’t live here.

Even if you don’t qualify for the Friendly Nations Visa for whatever reason, there are literally dozens of other ways to obtain residency here, ranging from reforestation to business investment.

Foreigners can also qualify to apply to become Panamanian citizens after five years of residency and obtain a Panamanian passport.

Bottom line, Panama is a great deal.

And it makes a LOT of sense to consider obtaining such an easy second residency in a growing, thriving country that might one day lead to a second passport for you and your entire family.

You might not ever need it. But it’s hard to imagine you’ll be worse off having such a great Plan B.

Simon Black is an international investor, entrepreneur and permanent traveler. His daily letter is both educational and entertaining, and we suggest that those who want unbiased, actionable information about global opportunities sign up for Sovereign Man’s free, actionable newsletter at http://www.SovereignMan.com.

From Simon Black of SovereignMan.com


Source: https://www.sovereignman.com/international-diversification-strategies/this-is-a-great-option-for-anyones-plan-b-21015/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.