AboutJack Silvera Expertise Anything you want to know about visiting or establishing residence in Panama. Try me for any travel related questions as well.
Experience Living in Panama City and knowing about travel industry.
Education/Credentials College Degree in Business Administration. (USA Educated).
Expert: Jack Silvera Date: 6/22/2008 Subject: Retirement Visa vrs Dual Citizenship
Question My Father and Grandfather were both born in Panama. My Uncle ( a former colonel in the Panamanian defense force) can help me get dual citizenship (US and Panamanian). My wife (a US citizen)and I want to move to Panama in the very near future. I know that as an American citizen there are many advantages to the retirement visa. What would the advantages to citizenship be (ie ownership of a business) over retirement visa? Would my wife be eligible for dual citizenship if I get it? Could I have dual citizenship and she utilize the advantages of a retirement visa?
Thanks in advance
Answer Hi Rico:
If you are moving to Panama as retirees you will be able to invest in property without paying taxes and import your personal belongings and car without paying import duties.
When you get your Panama Citizenship, as a retired citizen, you can enjoy certain perks such as discounts on most restaurants, 50% discount on movie tickets, concerts, museums. You can also get 25% discount when you buy airline tickets.
As far as I know, you can have dual citizenship and there's no problem with that. You can also ask your uncle to help your wife apply for Panama Citizenship although the process does take a number of years. However whenever she is with you, she gets the same benefits in theaters, air tickets, etc.
Bienvenidos a la Patria.
Regards,
Jack
