The Other Side Of The Coin - Panama Style

(costaricapages.com)  Not Everyone Has A Positive Retirement Experience In Panama

Panama is a beautiful country with many benefits. North Americans and European are settling here at a growing rate, either for retirement or investment purposes. Some find their move to Panama as the best decision they’ve ever made, but not everyone has a positive experience.

The story below comes to us from loyal Panama Travels reader, E. Shoshanna. Ms. Shoshanna spent two years in Panama before deciding Panama was not the country for her. This is her first person view of the difficulties of living in Panama.

The end of 2004 was the beginning of our move to Panama. We, like many baby boomers from the states, were looking for a more inexpensive way of life without compromising our standards of living. We found it in Punta Pacifica. Beautiful water views from our affordable condo, great medical care, good shopping and an upscale environment we were used to.

But what price are you willing to pay? Are you willing to give up your family and friends? Live in a society where laws are antiquated? Deal with dishonest people on a regular basis? Drive your car in total chaos, and hope you aren’t involved in an accident?

This is just a small sampling of what I had to deal with on a daily basis for two years. Of course everyone’s experience is different. I can only report mine.

From getting things done in our new condo, to opening a checking account, to purchasing a vehicle, it is not without complications. Everything becomes an ordeal, a struggle.

First of all, know Spanish! It’s vital. Become acquainted with the banking laws before moving to Panama or any other country. Find out about purchasing a vehicle, and how long it will take to get it. Ask builders what comes with the property you are purchasing, and get it in writing. And whatever you do, make sure you have a clause in your contract which mentions a timeframe. Your place make take two years or more to be completed. There are no verbal agreements honored.

Before hiring domestic help, find out whom they are and where they live. I was very lucky when it came to this. The girl I had was honest and very good. However, robberies (inside jobs) are common practice in Panama. Don’t forget one very important thing: They see most gringos as rich, a group of elite people who are the “haves”. While they see themselves as the “have nots”.

Panamanians as a whole are very kind and gracious, except when they are driving, then all bets are off! They become aggressive and discourteous. Their horn becomes primo. They will drive on to the sidewalk if they think it can be done. And heaven forbid you get in to a fender bender. You cannot move your car. You must stay put until the police decide to show up. This is when speaking Spanish is of the utmost importance.

Like most Americans, we prefer to have things done in a timely manner. This is not the case with most Panamanians. It gets done when it gets done. If you have to wait a month or six months, so be it. There is no sense of urgency, even with something of importance.

I also found a lack of common sense amongst many Panamanians. Doing the simplest deed became a major ordeal. Very little planning is executed before taking on a project. If you don’t believe me, just look at their infrastructure.

When reading the literature about Panama, you may come across information regarding private corporations and foundations. All I can say is, BE VERY CAREFUL when forming this entity. Though it can be a useful tool to protect your assets, it can also backfire on you. I know first hand.

I especially want women to understand that if you are added as a beneficiary and not a co-founder, your name can be removed from the corporation at any time without your permission. This is especially true if you file for divorce. A husband can remove your name and leave you penniless!

Filing for divorce in Panama rather than the states is only necessary if you become a resident and have all of your assets in Panama. You cannot file in the US. Your marriage first must be registered in Panama, and you must obtain legal advice from a Panamanian attorney. As with my lawyer, be very careful who you hire, this rings especially true in Panama. They have some of the most ruthless, dishonest lawyers I have ever met. They will take your money; promise you the moon, and say, “don’t worry” with a smile on their face.

Although Panama has a bar association, I question their disciplinary actions when dealing with their attorneys. I wrote a letter to them regarding two of their “finest” and never received a response. The legal battles in Panama are a nightmare! Try to stay away from the lawyers and courts as much as you can.

Speaking of laws, don’t expect the city to pay for any damages you may incur in the event of an accident. I fell in to an uncovered manhole and was unable to sue the city for negligence. I had to pay for all of my medical bills.

When moving to a different country, it can be very exhilarating. There is the excitement of meeting new people, learning to appreciate and understand a new culture, and perhaps the experience of a lifetime. But beware! When the newness wears off and you are left dealing with your reality, you may find it lonely and unfulfilling.

Just remember: “You’re not in Kansas anymore!”

- E. Shoshanna