Panama: Still the World's Top Retirement Haven
Date: 05/19/2005Dear International Living reader,
International Living investigated 30 countries for our 2005 Annual Retirement Index. We weighed the cost of living, special benefit programs, property, safety, infrastructure, climate, culture--and Panama came out Number One.
People headed to retirement havens in the 80s and 90s (like Belize, Honduras, Costa Rica)...and expats had to make sacrifices. Trade-offs like limited health care, infrastructure, recreation, and entertainment in exchange for better weather and a lower cost of living.
But... Panama is different! It offers you everything.
Because of Panama's history, strategic location, culture, commerce, and the century of US influence--not to mention the world famous canal--Panama consistently surpasses expectations.
Panama offers state-of-the-art benefits usually only available in industrialized countries.
Retiring in Panama is not an expense, it's an investment. The place is poised to boom.
A CHORUS OF PRAISES FOR LIFE IN PANAMA
An article in Harper's Bazaar claimed that: 'Panama is the most beautiful retreat in the world and almost undiscovered.'
The Boston Globe called it '...an undiscovered tourist paradise.'
The Los Angeles Times, The New York Times, and National Geographic have also published long travel articles praising the undiscovered delights Panama has to offer.
Political Risk Services named Panama one of the top three countries in the hemisphere for best-risk investments.
That's why our 20th Annual Premier Offshore Advantage Seminar is being held in the meeting place of the Americas, Panama City.
THE NEW COSTA RICA--YET AT ONE FIFTH OF THE PRICE...AND WITH SO MUCH MORE TO OFFER...
Panama is setting itself up as the New Costa Rica. It has put together the most appealing program of special benefits for foreign residents and retirees you'll find anywhere in the world today.
Now, you may be thinking: 'Pensioner? Retiree? That leaves me out.' Think again. Because the rules for becoming a 'pensioner' and qualifying for this visa program in Panama are probably not what you expect.
In fact, anyone over the age of 18 may apply and can qualify as a pensionado in Panama. All you need is a guaranteed pension income of only $500 per month ($600 per month for a couple). It must be a pension from a government agency (e.g. social security, disability, armed forces etc.) or from a company.
As a qualified pensionado/retiree, you will be entitled to significant discounts off the already mercifully low costs of living in Panama, including: 50% off entertainment anywhere in the country; 30% off bus, boat, and train fares; 25% off airline tickets; 50% off hotel stays (Monday through Thursday); 25% off restaurants; 10% off prescription medicines; 20% off doctor's consultations; 15% off dental and eye exams; 20% off professional and technical services; 50% off closing costs for home loans, and more...
All this, and you can retire at age 18! Since you're probably past 18 already, consider that Panama could allow you the option to retire sooner than you ever thought possible... Like Now! (or next year, or in five years).
WHAT'S YOUR PLAN FOR A BETTER FUTURE?
Socrates said that an unexamined life is not worth living. His student Aristotle went further, saying that an unplanned life is not worth examining.
Today at the 20th Annual Premier Offshore Advantage Seminar the focus was on offshore asset planning. It's not enough to have a plan for one's life; one must have a good plan. Gathered today in Panama are many of the best financial planners and investment analysts in the world.
Attendees here are making plans, changing plans and improving. I challenge you--and myself--to do the same.
David Melnick emceed the general sessions today. David, a Canadian native, is a member of The Board of Governors for The Oxford Club...and The Oxford Club's Wealth Protection Program Director. He's an experienced attorney. He was president and CEO of Vanguard Trust Limited of Canada in Toronto. For 13 years. He served as policy advisor to Frank Miller, who later became Premier of Ontario. He's been a Master's of Business instructor at the University of Toronto and York University. When David talks, people listen. And first thing this morning he delivered the lead address to the general session, The Art of Wealth Defense.
IN JUST A FEW SECONDS, THE LIFE YOU'VE WORKED SO HARD FOR CAN BE STOLEN... FOREVER!
David shared this story with me....
A New York property owner hired a contractor to work on his home. This worker returned from lunch, high on cocaine, beer...and a ladder.
He was so out of it, he put the ladder on a patch of ice and crashed to the floor, breaking his arm. The property owner was found liable for a $1 million judgment.
This is a true story. Litigation is out of control. School principals have been sued and lost over a million for kicking a student off a school sports team and 'ruining their chances' for a pro sports career. Don't laugh. Doctors, dentists, and average Joe's are all at risk today.
Unfortunately, malicious or frivolous lawsuits are not all you have to worry about... for one thing, the bloated government already eats away at your wealth with a hefty tax bite. There's probate and inheritance taxes... all attacks on your hard-earned wealth.
David explained how you could protect yourself with specific offshore structures...
* You can make your assets virtually untouchable by thieves and lawsuits, and ugly to the IRS.
* You'll be able to use state-of-the-art, 100% legal, tax reduction techniques such as family limited partnerships, family limited liability companies, and onshore and offshore corporations that will slash your tax bill this year and from now on.
* You can guarantee your wealth will be passed on to your heirs in a matter of days--instead of being tied up for months or years in probate court. And the assets will be 100% free of any claims.
You can hear his strategies and secrets on the Offshore Advantage Seminar recordings FREE with this special one-time-only offer.
WHAT'S THE MOST IMPORTANT CENTER OF PRIVATE BANKING IN THE WORLD?
'Switzerland controls a 30% global market share in terms of offshore funds under management,' Robert Vrijhof, a senior partner at Weber, Hartmann, Vrijhof, & Partners, Ltd. (WHVP) explained. Robert, our second speaker, went on: 'That's twice as much as the next biggest players, the UK (including the Channel Islands), the Caribbean, and Luxemburg, each with about 15% of the market.'
It's no surprise that Switzerland remains the premier worldwide brand for offshore banking.
As you might expect from Swiss money managers, WHVP applies strict and conservative asset management principles. Priority one is the preservation of the long-term purchasing power of your capital. Growth and income are achieved via global diversification in assets and currencies. Risks may be hedged with options and other appropriate instruments.
They manage accounts according to their client's wishes. Some are heavy into gold, others silver, high-grade AAA bonds, or whatever the individual client requests.
Developing a good plan for protecting, preserving and growing your assets is critical to a good life. At the Offshore Advantage Seminar, attendees heard from experts-- not only from Panama--and could explore options available all over the world.
NINE EXPERTS IN FIVE HOURS EXPLORED ALL THE BEST OFFSHORE OPTIONS
The seminar schedule was jam-packed. We heard nine speakers in five hours from five different countries, each with a unique perspective on various opportunities and advantages of offshore investing and estate planning. Then we had the chance to meet in smaller workshops. It's quite an education.
One young attendee, Roger, a native Costa Rican planning to move to Panama, said that after only two days it 'changed my life. I'm going to be much wealthier than I ever thought possible before I came to this conference!'
THERE ARE NO KANGAROOS IN AUSTRIA!
'And there are no gondolas in Vienna either,' exclaimed our next speaker in an attempt to enlighten geographically challenged Americans.
Peter Zipper, one of our most entertaining speakers of the day told us that: 'The Anglo-Austria bank was founded in 1890. In it's 115-year existence, it's never had a losing year. Even when Austria was defeated in two world wars, the bank remained rock-solid and profitable.' Peter is Senior Vice President at the Anglo Irish Bank based in Vienna, Austria.
'Americans are getting used to seeing their privacy and freedoms slowly eroded, especially after 9-11. In Austria it's different. The nation already has some of the strongest banking privacy laws in the world and they continue to increase their customers right to privacy. Banking privacy is guaranteed by our constitution!'
Page one of the 600+ page banking regulations of Austria says this; 'All financial institutions within the borders of Austria must protect the clients funds.'
'All financial institutions' includes banks, insurance companies, mutual funds... you name it. This is the number one priority, Peter said. 'It's difficult for Americans to understand how strongly Austrians feel about protecting their privacy.'
'Last year, we passed a new law that will make your hair stand up straight,' Peter told me. 'The only person in an Austrian bank who can talk to a client is a representative from a client service office. The client's name cannot be given to bookkeeping or the back office. It's illegal for anyone else to even know the client's name.'
Plus, Austria is one of the most stable countries in the world. 'It's actually quite boring,' Peter declared. After WWII, Austria was occupied for ten years. In 1955, Austria became an independent nation. Since independence there has never been an economic slowdown. The economy has always done very well. That's the kind of boring that it's easy to appreciate.
There's no time to go into detail about each of the nine speakers individually, but on the recordings you will not miss a word. And they can be yours FREE. Please read on...
THE SEVEN DEADLY SINS OF ASSET PROTECTION STRATEGIES
Derek Sambrook, Director of Trust Services, S.A. in Panama, offers the following sage advice regarding the 'Seven Deadly Sins of Asset Protection Strategies' -- particularly in the offshore markets.
There are Seven Deadly Sins committed every day of the week by the innocent:
1. Deal with professionals who are not licensed in the jurisdiction where their principal office operates.
2. Do business with professionals who are not audited annually, preferably by an international firm.
3. Don't consider obtaining references or find out how long the business has been operating.
4. Take no account of the caliber of management, particularly their qualifications and experience.
5. Give no thought to meeting the senior personnel before conducting business.
6. Base your choice of professionals on the lowest fees tariff.
7. Ignore taking tax and legal advice when necessary.
Derek detailed the pros and cons of various offshore structures: trusts, foundations and corporations. And he explained how to avoid pitfalls that could invalidate your asset protection plans. One simple mistake could void all of your hard work. Listen to Derek's presentation to make sure that your assets really are safe. And discover the offshore advantages that Panama offers you.
PANAMA OFFERS MANY ADVANTAGES
I spoke with one attendee who I met last year at our IL Live and Invest Overseas Conference in New Orleans. I'll call her E.P. When we last spoke, she was planning to relocate her family from Pittsburgh, PA to Europe, maybe Spain.
But a few months ago, she visited Panama and fell in love with her options here. She and her husband and two children will be moving to Panama City in a matter of weeks. 'Panama offered my family everything that we wanted: First World infrastructure, great schools for my children, we'll be living only about 10 minutes from the airport, 15 minutes from a cosmopolitan city, and not much further from the beach. Panama is great!'
EP isn't planning to retire. Her husband is a computer specialist who travels frequently for work and they could live wherever they wanted. 'But I never considered Panama before I started reading International Living,' E.P. explained.
THE BEST POSSIBLE VALUE ON EVERYTHING YOU NEED TO KNOW ABOUT PANAMA... AND MORE!
Like I said, the 20th Annual Premier Offshore Advantage Seminar is being held in Panama City because it's our Top Rated Retirement Destination. This gives us a chance to remind you how wonderful Panama can be... and of the opportunities that it offers you.
But in our seminar recordings you'll hear about many more offshore options too.
Today Jack Flader, of the Zetland Financial Group, explained about Hong Kong, the world's freest economy. Hong Kong was ranked once again as the world's freest of the 155 economies in the recent survey of the 11th annual Index of Economic Freedom conducted by The Heritage Foundation, a leading U.S. think-tank, and the Wall Street Journal. The city has earned this honor every year since the Index began. In the survey five countries from the Asia Pacific were in the top 10, including Singapore (2nd), New Zealand (7th) and Australia (10th). Mainland China came in 112th. The Index ratings reflect an analysis of 50 different economic variables grouped into 10 categories of economic freedom.
Jack called Hong Kong the 'Gateway to China,' and I don't have to tell you that China offers some of the most exciting investment opportunities in the world today. You should hear his presentation too. It's an eye-opener.
HONG KONG: THE GATEWAY TO CHINA
Despite this uncertainty, Hong Kong continues to thrive financially. Hong Kong is China's banker, investment broker, and go-between in what is now a multi-billion annual trade flow. China has too much invested here to destroy it all in a fit of rigid political ideology. Today, 30% of Hong Kong bank deposits are Chinese and more than 2,000 Chinese-controlled entities now do business there. Moreover, in the past 15 years, some US$150 billion of foreign direct investment has flooded into China--60% of which came from, or through, Hong Kong.
If you're doing business in Asia, and especially in China, this is the place to be. Over 77% of foreign forms based in Hong Kong surveyed said they felt that it was an advantageous location for them due to advanced telecommunications networks, a free trade environment, low taxes and effective regulation.
In a strange twist of world economic fate, Hong Kong has benefited from the recent clampdown by the EU and the OECD on tax havens. That's because it has clout, in its own right and as a special economic zone of the world's most populous nation. Wealthy account holders from the Middle East started shifting cash towards Asia from Europe and the U.S. in the wake of the Sept. 11, 2001 terror attacks.
While the outcome is far from certain, Hong Kong could quite possibly become the Switzerland of the Far East.
MORE OFFSHORE INVESTMENT ADVICE AND INSIGHTS
I introduced you to Eric Roseman yesterday. Today he returned to the podium with at least a dozen specific offshore investment opportunities... some are mutual funds off-limits to U.S. investors UNLESS you use specifically-designed offshore structures.
There are about 10,000 mutual funds in the U.S. and about 80,000 outside the U.S. The most profitable ones are outside. Listen to the recordings and you will learn how to get in on these restricted offshore funds legally. And you'll hear all of Eric's specific recommendations too.
HOW TO UNLOCK THE SECRETS TO HIDDEN WEALTH IN YOUR RETIREMENT PLAN
You'll also hear from Larry Grossman, Managing Director, Sovereign International Asset Management, who talked about the serious threats facing Americans' retirement accounts. The limitations that are put on these accounts are considerable. But by moving your accounts into an offshore structure, you open up a new world of investment opportunities.
Larry is a Certified Investment Management Analyst--one of only about 1,500 in the United States--and was one of the first financial advisors to develop a compliant method for helping clients take their IRAs and pension plans offshore for asset protection and greater investment diversification.
By moving retirement accounts offshore you can legally invest in many opportunities that are otherwise prohibited for U.S. citizens.
TOO MUCH HAS ALREADY HAPPENED TO REPORT IT ALL!
And there's much more to come.
It would be impossible for me to write up everything that goes on here at the InterContinental today. Many specialized sessions will be going on simultaneously to give small groups of individuals deep insights into specific strategies and opportunities. I'm only one person. I'm such a poor typist that I'm not getting much of a chance to enjoy the many pleasures of Panama with my fellow attendees who are out on the town whooping it up! Too bad you are not here too. I think that they are headed to Take Five, a jazz club not far from IL's office and residence where I'm staying, Casa Remon. I wish you could join them too. It's bound to be a blast!
But still, you'll get important highlights and useful insights from me, Thom Hickling, 'Your Seminar Insider,' each day of the conference.
I told you yesterday that I've got some great news for you. The entire Annual Premier Offshore Advantage Seminar will be recorded. And you can have full access to the recordings online.
The complete seminar recordings can be yours for FREE if you take advantage of this offer to discover the world of offshore investing, asset protection, and the unique opportunities that Panama offers you now.
But the special offer is something even better than just getting these unique recordings for free.
A COMPLETE OFFSHORE PACKAGE, NEVER BEFORE OFFERED--AND NEVER AGAIN TO BE OFFERED--CAN BE YOURS NOW
The Sovereign Society has just released a brand new three-part report, authored by Sovereign Society director, Bob Bauman, called Panama Money Secrets. It's barely off the presses. There's nothing more up-to-date on offshore opportunities in Panama.
At the 20th Annual Premier Offshore Advantage Seminar, Panama Money Secrets will be officially introduced to our members. It's so new that there are no promotional brochures or material for it prepared yet, but I have seen one of the very first proof copies.
Panama Money Secrets is Bob's most recent report (he's written about 20 books) and the first full-length treatment of offshore investing strategies and insights exclusively focusing on Panama.
With over 150 pages, this is a complete course that teaches you--step-by-step--how to protect your assets, invest profitably, buy real estate, retire, or start a business in Panama.
** Learn how to use Panama as an Offshore Money Haven. Open a truly private bank account...set up an offshore corporation, trust, or private foundation and take advantage of privacy, tax, and asset protection benefits...You'll get the names and full contact details of banks, advisors, lawyers...
** Rake in tax-free profits in any tourism-related business. It's an undiscovered adventure wonderland...with almost limitless possibilities. You could start an eco- or adventure-tour company...a charter dive operation...a bed and breakfast...develop commercial property, coffee shops, restaurants, hotels...and the government will give you benefits to boot...
** Find out the best attorneys, banks, professional services, and more available to you in Panama.
These are just the briefest highlights. This powerful report gives you insights into the history and culture of Panama... it's laws and heritage and culture... and it will show you the best ways to take advantage of this beautiful haven.
This three-part report will retail for $249 when the conference is over. I have a deal that will let you own a copy for a small fraction of that price... but only if you act right now!
And that's not all...
YOU ALSO GET 'PANAMA: THE OWNER'S MANUAL'
For many years, International Living's Owner's Manuals have been among our most popular publications... and the most popular of all has been 'Panama: The Owner's Manual'.
You'll find no other product like it anywhere in the world...
** You'll get to explore Panama in a way that the average tourist or travel reader would never be able to. You'll find out hundreds of important and valuable bits of information that you simply couldn't find in any other publication, and that would be almost impossible to collect on your own.
Everything you need to retire...obtain a residence or investment visa--even a Panamanian passport is in the Owner's Manual...
** How to apply for Panama's first-class and increasingly popular pensionado visa program. And even if you don't qualify under the pensionado visa program, don't worry (though most people could qualify easily). The Panama Owner's Manual for 2005 will introduce you to many other extremely affordable and attractive programs you may qualify under. For instance, with as little as a $150,000 investment you can start up your own business and within five years be eligible to apply for Panamanian citizenship. (By world standards this is an incredible opportunity). Or you can invest $40,000 in a government-approved and potentially very lucrative reforestation project. These are just some of the great ways in which you can qualify to live, retire, or do business in Panama.
** Discover Panama's Secret Shangri-La. This hidden valley sits in Panama's lush and beautiful highland region. You take a ten-minute walk from the nearby picture perfect riverside town...and as you pass through a narrow passage and beyond you'll gasp with amazement as you enter a real, secret Shangri-La... with it's own microclimate... where spring reigns eternal. The valley sits in an area Modern Maturity Magazine named the 'number one retirement destination in the western hemisphere'. Property is still incredibly cheap. We saw a property recently advertised for as little as $1,000 an acre. But the secret's out...and property prices have already begun to rise. Now is the time to get in.
** Discover Panama's Next Great Highland Utopias, including the five-million-year old ancient crater that's now become a retirement fantasyland.
** Find out the best area to buy property in Panama City right now. You can pick up a four-bedroom home in one of the most beautiful neighborhoods for $200,000. It's adjacent to the rainforest, and is very lush, green, and tropical.
** Reap tax-free profits in Colonial Casco Viejo. Find out about the enormous investment incentives you'll get if you buy property in Panama City's Casco Viejo. This forgotten treasure of a neighborhood was once the cultural and political center of Panama City. UNESCO has recently declared it a World Heritage Site. It sits out on the bay and is currently undergoing a great new renaissance...We'll show you ways to profit from this neighborhood poised to boom. It's an urban investor's dream!
Panama: The Owner's Manual regularly sells for $69. Quite a value when you consider that this information is not available anywhere else... at any price... whatsoever. It's totally unique.
When you put this whole package together--Panama Money Secrets, Panama: The Owner's Manual, and the FREE conference recordings from the 20th Annual Premier Offshore Advantage Seminar--you have a remarkable package of offshore information.
A 'JAW-DROPPING' OPPORTUNITY FOR YOU TO HAVE IT ALL...
Because it's International Living's Silver Anniversary Year, we're making a special offer for those of you unable to hop a plane and attend this conference.
All of the information...all of the secret tactics... all of the unique strategies... all of the hard-earned experience...and all the ways to make international property the driving force in your investment portfolio will be delivered to your door right away--if you take advantage of the 20th Annual Premier Offshore Advantage Seminar special offer now.
Here's what you'll get:
Panama Money Secrets (value $249)
Panama: The Owners Manual (value $69)
The complete 20th Annual Premier Offshore Advantage Seminar recordings online (value $149)
Total Value: $467!
If you order today--and today only--you'll save $258! You can have the whole package for the low price of $209. But this discount price expires at midnight tonight.
If you have read this far, I know that you are interested in offshore investing and Panama. Since we're agreed on that, I urge you to place your order now. If you miss the deadline, you miss this deal. Click here to get your $258 discount and reserve your copy now.
HERE'S THE DEAL!
* Order today and get the lowest price available, only $209! Offer expires at midnight on Friday, May 20.
* Wait until tomorrow and you pay only $229! Offer expires midnight on Saturday, May 21.
* On the last day, you can order this special and you'll pay $249. This is still a great deal. You'll save $218 off of retail prices. That expires at midnight on Sunday, May 22. If you procrastinate and then forget to order before the final deadline, the only way to get all three items that make up this special kit will be to pay full price for each...$467 all combined.
If you think that you might want to take advantage of this very best deal, I strongly suggest that you order it right now and lock in your savings of $258. We'll happily sell it to you later for up to $249, but why pay more?
Take advantage of this early bird special while you can. If this kit were selling at retail price, $467, it would still be worth every penny. You could easily save or make ten times that--or even 100 times that--by putting these valuable strategies to work for you.
But the only time you can get it at the $209 price is now.
Unfortunately, I can't give you the insights about tomorrow's sessions until they're finished, and by then the price will have gone up. But if you order today, you will get all of the speakers featured over the full three-day conference (not just the ones I mentioned today. You'll get access to Eric Roseman's investment recommendations and much more...)
And you have our money back guarantee, so you have nothing to lose. If you aren't completely satisfied--for any reason--simply return the package to us within 60 days and we'll promptly send you a refund. No explanation required.
This deal rewards people who act quickly... the go-getters. So, I suggest that if you want it, you act now.
The people who order earliest get the best price... I hope that you are one of them.
THE INSIDE SCOOP IS YOURS EVERY DAY IN MY FREE REPORTS
Even if you choose not to take advantage of this offer today, I'll continue to file my daily reports and you can have access to the seminar insights for free.
I know that not all readers are interested in offshore strategies. Some just like the idea of retiring in the sun... or getting away from it all for a while... or maybe reinventing themselves in a new place... with a brand new life. Panama is a great option for you folks too.
But... most of our readers are investors too. It's hard for me to imagine that any reader who cares about investing at all couldn't benefit by putting some of their assets (even if it's simply home equity) into a more profitable--and perhaps even safer--investment offshore.
Many readers won't give the opportunity a second look, because they think it's too complicated. But this special package makes it easy.
There's no better time to learn about your options offshore than now during the 20th Annual Premier Offshore Advantage Seminar.
Click here to reserve your copy now.
Sincerely,
Thom Hickling
'Your Seminar Insider'
P.S. Please Read My Seminar Report Tomorrow! Tonight, I'm sitting on the balcony at Casa Remon overlooking Plaza Independencia in historic Casco Viejo. It's a lovely place to work, but it would be an even better place to retire, relax, invest, explore... or just hang out. But I'm working and tomorrow, I bring you more highlights from more seminar sessions. I'll be your eyes and ears, bringing you on-the-ground reports from Panama City. If I couldn't be here, I'd want someone to keep me in the loop. Someone who knows what's important and has the inside scoop.
Once again, I'll meet with our experts and attendees one-on-one to prepare for tomorrow's sessions. Mañana you'll get another message from me with more insights and secrets revealed.
But in the meantime, don't hesitate. Learn about the exciting offshore opportunities in Panama and save a bundle of cash today. Your Offshore Advantage experience starts now. Grab this 20th Annual Premier Offshore Advantage Seminar special before the price goes up!
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