Shelbi
3/23/2017 20:32 EST
Hi,
We are in the process of getting our friendly nations visa and looking for a house to buy., the house may take 6-9 months. Not sure exactly how long to find the right place. We are opening a corporation for the visa as we don't have a house yet( need house or corporation) for friendly nations visa. We also need three signatures for the corporation but the is only the two of us.
Our lawyer said he will outsource it. The outsourcing will provide signatures for the corporation, a third member, and resident agent. The resident agent costs 300 a year and the third member is 150 a year.
Is there anyway to get around this and save the 450?
I don't like to pay this as we will be closing the corporation by Oct-Dec when we do move to Panama and buy a house.
Post a Reply
 0 0 abuse
|
|
RICOBREEZE802MARK
3/24/2017 01:19 EST
SO let me get this straight, you want to apply for a visa, and the only way you can is to have a corp. to do so, but you don't want to pay the fee to do so.. so in other words this visa is the only one you can apply for, because for one reason you don't make enough money or can't prove you have enough to get the other visa, so panama allows people like you to do it this way, but yet you don't like it because you are to cheap to pay 400 or 500 to do it one time to get the visa and then kill it. so you can live here for a life time? really? honey listen if 500.00 is bugging you to have to pay to be allowed to live here, trust me that is just the tip of what you will end up paying to live here. pay the dang money and get on with it or stay where you are. I wish panama would shut the doors on people who can't live here without a low ball visa. be able to afford to live here or stay home. another expat that has to make a living to be able to live here WE DON'T NEED.
Post a Reply
 1 0 abuse
|
|
|
|
ranadelnorte
3/24/2017 08:03 EST
Your question is confusing to me, and I'm wondering if you understand fully the purpose of opening a corporation for the FN visa, the process and costs of dissolving a corporation, why many people hold real estate inside a corporation, and the impossiblity of switching visa types once you're in the country. Think you need to have a nice long chat with your lawyer, and maybe even get advice from another.
Good luck!
Post a Reply
00abuse
|
|
StanleySankey
3/24/2017 08:43 EST
You do NOT need to buy a house for the friendly nations visa. You only need to show ties to Panama for both the visa and to open a bank account. However a rental contract or even utility bills will suffice for that. Also, you directors do not need to be in Panama. All my directors are non-resident only one has ever physically been to Panama. My lawyer did all the paperwork for the coprporation electronically with scanned documents before I even arrived in Panama. If your lawyer can't do similiar you need to shop around for a new one.
Post a Reply
00abuse
|
|
Shelbi
3/24/2017 10:48 EST
No, you have it all wrong. We do have enough to buy a house cash in Panama and to live on. We are NOT old enough for a pension visa. The thing I was trying to ask is if there is a way around the outsourcing for signatures for the corporation. The corporation would only be for a few months or days then we will dissolve it and buy a house in our name. We may even buy a house when we see our lawyer to sign the corporation papers. The thing is we haven't decided on which house to buy. We are going to see one more when we see our lawyer.
I just didn't want to throw away 500 dollars if I buy a house the next day and only need the corporation for a day.
Post a Reply
00abuse
|
|
ranadelnorte
3/24/2017 11:14 EST
I may be dense, but don't understand why the FN visa and purchasing the house are either/or options. Do you realize that dissolving a corporation costs money, even it exists for a short time only? Are you aware that holding property within a corporation can have financial advantages? Do you understand that changing a visa type from FN to something else is not possible once you have a visa? Please speak with your lawyer.
Post a Reply
00abuse
|
|
|
|
oscar76
3/25/2017 01:56 EST
i know it is possible to buy a house when you apply for an investment visa.
but, on the other hand, if ir is possible and you KNOW that you want to buy a house, why don't you just wait until you bought?
it is not that you need to leave the country after 3 weeks with a tourist visa. you could stay with the tourist visa, buy a house and then apply for the cedula.
Post a Reply
00abuse
|
|
oscar76
3/25/2017 02:00 EST
@rana:
what advantages are there when you put a house in the corporation?
i know it can be good when you sale it and it increased in value, but anything else too? maybe the anual up to 2.1% tax? :)
Post a Reply
00abuse
|
|
ranadelnorte
3/25/2017 13:14 EST
@Oscar76
In addition to what you mention, holding assets (both business and personal property) inside a corporation is a protection against liability issues.
Please speak with a competent Panamanian lawyer about all the pros and cons of establishing a corporation.
Post a Reply
00abuse
|
|
Panama2017
3/25/2017 13:34 EST
Oscar, in addition to Ranadelnorte's comments, if a property is under a corporation (or foundation), it is very simple to make arrangements for your assets to go directly to whomever you designate. Simplifies estate planning. Probate in Panama can take years.
Post a Reply
00abuse
|
|
oscar76
3/25/2017 14:15 EST
ah...ok...thanks guys!
it seams like the corporation i need to have also might be useful in the future. :-)
I keep that in my mind and take care about that topic in about 1 or 2 years when i buy a house.
Post a Reply
00abuse
|
|
|
|
