Most Panamanians speak at least some English… right? Uh… not exactly.

The reality is, “most” Panamanians do not speak English.

Sure, your hotel receptionist, your banker, your lawyer, and your real estate agent will speak English.

But chances are, your taxi driver, your maid, your neighbor, the bank teller, the person at the supermarket
checkout, the plumber, the cable guy, and 90% of everyone else in Panama will not be able to converse in English.

If you don’t speak Spanish, the language barrier represents the single biggest challenge for you to overcome in order for you to enjoy your time in Panama. And if you think listening to “Learn Spanish in A Week” while on the plane to Panama will give you the basics you’ll need to get by, you are in for a big surprise.

In Chapter Five of the Panama 101 E-Book, we go over some tips and pointers about how to learn Spanish for real, and why it is so important that you make a serious effort to speak Spanish.

Above: Yes, that’s legal. And you’ll learn to crave what he has inside those coolers.

Here are some other common misconceptions prospective expats have about living and investing in Panama:

“I can just walk into a bank and open a bank account”

“It’s so hot down there, I’ll just bring shorts… surely everyone wears shorts.”

“It doesn’t matter which lawyer I use, they all know the law and work basically the same.”

“With all my investment income, I should qualify for the pensioner’s visa.”

“Panama is tax free. I won’t have to pay any taxes on my income or my investments once the money is
down there.”

“I’m sure the cost of living must be dirt cheap, I’ll save a fortune by moving to Panama.”

Above: Panamanians are a very diverse mix of people. In a typical Panamanian scene, you’ll see a Kuna indigenous woman like the one pictured above dealing with a banker in a suit, while a farmer sporting a Panama hat drives up in a luxury SUV.

Probably the most common questions we get are related to Panama residency visas. This is the ID card you get when you successfully apply to become a Panamanian resident. There are several different ways to get one and there is a lot of conflicting information out there about the requirements, the application process, how long it takes to get one, which one you should apply for, etc.

In the Panama Free Report, we explained why you shouldn’t apply for the small business visa, because your employees are now tied to your visa application, making it almost impossible to fire them without ruining your visa process (and they know this). In the full version of Panama 101, we cover each visa in more detail, giving you the facts you need to make an educated decision.

We also go over some of the cultural idiosyncrasies that can make your life or business in Panama very difficult. In Panama 101, we give you a “heads up” on what to watch out for when things aren’t working out for you, and the best way to go about solving your problem.

Above: Watch out for these buses… they’re called diablos rojos (red devils) and they don’t yield for pedestrians.

Here are a few “BIG MISTAKES” many foreigners make in Panama, without understanding why it is
a mistake:

- the neighbor invites you over for lunch, but you already had lunch, so you politely decline his offer

- your lawyer says he can title your “rights of possession” land, so you go ahead with the land purchase

- you call the electrician to make an appointment for next Wednesday, you are surprised when he doesn’t show up

- you sign a real estate purchase contract that is written in English

- you try to fire your maid for theft, and you assume you won’t have to pay “severance”.

We all make mistakes, that is part of life. Our goal is to help you minimize your mistakes so you truly do find the lifestyle and investment you are looking for in Panama without losing your shirt or embarrassing yourself.

We hope you’ve enjoyed this preview of Chapter 5 – The Basics For Expats. Chapter 5 is designed to uncover some common misconceptions most people have about Panama and Panamanian people. We also go over the different residency visas available and explain how to open a bank account, and a few other “basics” you should consider before you invest your time and money into a foreign country.

Michael Manville – Copyright 2008

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Panama At Your Service Network

Tel. (U.S.) 561-459-1903

Email: michael@panamaatyourservice.com

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