swedph

Hi there, is it possible to buy a car on a touristvisa and if so is it lot of paperwork?

thank you.

panamapal

I don't know, but I know you can rent a car. I think you can buy a car, but you might have trouble registering it as a tourist. How do you plan to own a car as a tourist? I mean, you won't be in the country for more than a month at a time, so what will you do with your car when you leave the country?

swedph

yes offcourse but I am planning on becoming a residence so I will need a car , and need it as soon as a get there i think.

Lalaguayaba

Unless you can get immediate residence through your visa (forestry II, jubilado/pensionado, marriage,) I just don't see the advantage of purchasing a car right off the bat. Until you change your tourist visa, you are limited by the terms that your country has negotiated w/Panama; a little more info would help us answer your questions.

Cheers.

tallman33

Having your own car in Panama isn't necessary like it is in the States. It's much easier to get around without your own car in Panama.

Lalaguayaba

If one is living in Panama City, then you may not need a car as much as you think you do. If you plan on living somewhere that doesn't have as many taxi cabs but is still a nice city, like David, then by all means a car is necessary.

Same in the U.S., I don't need a car in D.C., but I'd be stranded if I didn't have one in San Diego or Colorado--there is no public transportation and everything is really far apart, too far apart to take cabs everywhere economically.

Cheers.

swedph

ok thank you very much. Thats right, i will not need the car from start, but my ambition is to recieve permanent residencia.

Lalaguayaba

I suggest that you check out the Forestry investor visa, it is the easiest and least expensive way to get immediate (within months to a year, vs. up to 5 years with the other programs) residence. For $80,000, the Forestry II investor visa gives you fairly immediate residency and citizenship in 5 years.

Cheers.

swedph

Yes, thank you Lalaguayaba! I´ve thougt about that alternative, forestry $40000, or the $200000 investment in real estate, but with the last option i need to have a monthly fluent income also, right? With the forestry investment, can i sell this land or have I lost the money forever?

panamapal

If you were to sell the land, it wouldn't count as an investment, I don't think.

Lalaguayaba

Please read some more about the forestry visa option, since it seems that you are missing the main point of investing--you get a return on your money!! Consider it a long-term form of investing; returns are estimated around 15%-25% after 20 years, when they start paying back the investment plus a profit.

Any withdrawl of the investment by selling the land will result in lesser gains and loss of unrealized profit from the harvest of the timber after 20 years. So think of it as a good tool for estate planning (or, in my case, retirement planning.)

The following sites are commercial enterprises, so as with all investments, read the fine print, consult a lawyer unaffiliated with the company, and be prepared to take a risk.

UNITED

WoodStockInvest

Firm seeks investors for Panama forest - Panama Guide

Reforestation Visa

Panama Retirement Visa, Panama Immigration, Panama Pensionado Visa, Panama Person of Means Visa, Panama Private Income Retiree Visa, Panama Forestry Visa Forestry Visa

These are just two of a number of companies, a quick google search will yield quite a few more, I'm sure. The last three are info sites on the visa process, requirements and benefits. Have fun!

Cheers.

expatplayer

You're investing in the forest, Lalaguayaba? Are you investing to get residency, because don't you have to invest a lot to do that?

Lalaguayaba

You do not need to invest 'a lot' to get residency; as shown in the above provided links, one receives residency as a forestry investor, class I after 5 years, class II immediately.

I'm investing because I think its a good project with a good future and seems like a low-risk venture with many benefits.

Cheers.

themark

It's a good investment and it can get your residency. That's a great opportunity.