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Ortiz & Anguizola Law Firm
Panama Legal Services
Listed below are some of the legal services we offer, don't hesitate to inquire about additional services.
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Panama Corporation - Package Special
$1,000 plus $250 government taxes = $1,250 total
Includes formation of new Panamanian Corporation with articles of incorporation and shares. Inquire for more information, this is a versatile Panamanian entity.
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| Panamanian Bank Account Assistance Service *Inquire as to pricing
We advise you in obtaining the documentation necessary to obtain a corporate or personal bank account at the Panamanian Bank of your choosing. Online banking and bill paying are available at most Panamanian banking institutions.
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Conflict Resolution and Law Suit Services
If you have been wronged and wish to take leagl action, we can acess your situation and file suit against the opposition. Contact us to have your situation evaluated.
*Pricing varied on a case by case basis
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| Retiree Visa Program Immigration Service "Pensionado Visa" program With many advantages and discounts on services and goods, Panama is a very attractive option for retirees. Consult with us to see if you qualify for this pension program. Panama is one of the best places in the world for retirees to retire today, it combines a low cost of living, wonderful tropical weather, and one of the best discount programs for retirees in the world. As well as picture perfect highlands, Panama has a perfect location for every taste, from a cosmopolitan capital city to palm lined beaches, cool mountain climates and tropical resorts. Unique to the region, Panama has been spared from treacherous weather conditions; earthquakes, hurricanes, and tornadoes are not common in Panama.
Not surprisingly, the May/June edition of Modern Maturity Magazine rated Boquete, Panama, the fourth best retirement destination in the world. International Living rates Panama even higher on their list as No.1. Equally important, Pinkerton Intelligence Agency as the safest place for tourism equally ranked with the US. Panama has received praise from major magazines.
Key Advantages of retiring in Panama
"Panama's Pensionado" program (incentive program for retirees), is considered one of the best in the world and is not necessarily age related. Panama has a stable democratic government
The US Dollar is the legal tender
US style infrastructure with a number of familiar franchises and businesses.
Residents do not pay tax on foreign earned income
Foreigners can buy and own property in Panama with the same rights and protections as Panamanian citizens.
Tourism investments have exemptions from import duties, construction materials and equipment, income, real estate taxes, etc.
Property tax exemptions apply to all new construction on a sliding scale according to value.
English is widely spoken.
Real Estate is comparably cheap; one can expect prime location at prices 50-70% lower than in comparable US locations.
US standard health care facilities and services with many US trained English speaking doctors available
High rate for tourist safety according to Pinkerton Intelligence Agency.
Panama has a reliable and modern communication system with fibre optic telephone lines and ADSL internet in much of the country.
Healthcare
Conveniently, Panama is also ranked among the best countries in Latin America in health care. Panama offers excellent quality medical care and modern hospitals in the metropolitan areas. Many Panamanian doctors are U.S trained, and the standards at the top Panamanian hospitals compare favourably to those in the US. American private health insurance policies are accepted in most Panamanian hospitals, though private health insurance is available and much less expensive than American insurance.
Investment
To encourage long term foreign investment, Panama does not require special permits, authorization or registration to qualify investors. The 1998 Investment Stability Law protects investments of more than $ 2,000,000 for 10 years from any changes in tax, customs, municipal and labour laws.
Finances
Over 80 banks have full service branches in Panama including international banks such HSBC, Citibank, Scotiabank, Dresdner, BNP/Paribas. Panama's currency is the US Dollar, no need to worry about exchange risks or high interest rates.
"Pensionado Program"
Panama's "Pensionado program" is considered to be among the best in the world for the large array of benefits it offers. Some of the key benefits are:
Import tax exemption for household goods
Tax exemption to import a new car every two years
25% discounts on utility bills
25% discount on airline tickets
30% discount on bus, boat and train fares
1% reduction on home mortgages for homes used for personal residence
20% discount on doctor's bills and 15% on hospital services if no insurance applies
15% off on dental and eye exams
10% discount on medicines
20% discount on bills for technical and professional services
25% off restaurant meals
15% off at fast food restaurants
50% discount on entrance to movie theatres, concerts, cultural and sporting events
50% discount at hotels from Monday to Thursday, 30% on weekends
Probably the most attractive aspect of Panama's Pensionado program is that to apply for the program the applicant does not necessarily have to be retired to qualify. Actually, anyone over the age of eighteen may apply; all that is required is a guaranteed pension (from a government agency or a private company) of only $500 per person, $600 for a couple, a clean police record from the country where the applicant resides and a health certificate from a Panamanian doctor. The visa process for the Pensionado program is extremely easy, simple and expedient. It is a one time application with no renewals or additional fees.
Panama's pensionado progarm is a convenient and cost effective way to get your residency in Panama. Applicants must provide proof of retirement with monthly pension of $500 from a foreign government, international organization or private entity, plus an additional $100 for each dependent including a spouse.
This entitles you (and your dependents) legal residency in Panama which will be valid while you continue to meet the previously stated pensionado income requirements. Please contact us to find out if you qualify for this via program.
Requisites for Panama Pension program:Applicants (and dependents) must provide the following documentation:
• 8 Passport-sized photos
• Good Health Medical Certificate from Panama
• Police report from the country where you have lived the last two years
• 2 Complete copies of passport
• Marriage certificate (for dependent spouse); must be official
• Birth certificate (for dependent children under 18 years of age)
Applicant (only) must also provide the following:
• Letter on company letterhead certifying retiree status and the amount earned per month
• Proof of monthly income, such as copies of cheques, bank statements, etc.**
• If the pension is paid by a private entity, certification from a goverment authority that the Company is in operation and duly registered
• Personal Background Information Statement.
Once the application is approved the amount of the monthly income may be verified periodically to ensure it continues to meet minimum requirements.
These documents (except the Health Certificate) should be gathered before arriving in Panama. All of these official documents must be issued within 3 months of application. No copies of official documents will be accepted (except in the case of the passport) All required documents must be notarized and certified (apostiled) by the nearest Panama consulate in your country of origin. In the United States, these do include court clerks, deputies, and secretaries of state. Certified translations of all non-Spanish documents by a recognized public office translator in Panama are also required. Your passport should be valid for at least six months from the date you apply for residency status. Two short visits to the Immigration Department in Panama will be necessary, to register your passport, and to take the picture for your Permanent Resident card once the application is approved; otherwise you need not remain in Panama for the application process. To leave Panama and re-enter during the application process and after approval, you must apply for a Multiple Reentry Visa.
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| Property Title Search Sale Purchase Agreement These fees do not include notary and Public Registry expenses. We can verify the title status and protect your best interests throughout the title transfer process. We offer escrow services and optional English translations of the pertinent documentation. Panamanian law dictates that legal fees regarding property transactions are to be based on the table below.
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