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Getting Gold into Panama

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greened
  8/18/2022 12:25 EST

In relocating to Panama, what's the best way to get physical gold - coins and 1 oz. bars - into the country? Has anyone had experience getting gold into Panama? Post here in the forum or feel free to private message me. Thanks!

glockdiver69
  8/18/2022 12:58 EST

Unless it is a very small amount (under $10K, including the cash you are carrying), it is best to sell your gold in the US and re-purchase it in Panama. The other thing you have to consider is where are you going to store it securely. I guess that depends on the amount of gold bullion too. The last thing you want is to be over any limit and get it confiscated.

Just be careful. You are not in Kansas anymore!

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ptyexpat
  8/18/2022 13:11 EST

Sell all of your gold in youre home country and invest is a high yield CD in Panama. If you travel with gold you will not only be an instant target at the Airport from customs but on the streets of PTY. People have been known to be robbed just after leaving the AP most likely from a tip off from insider airport employees.

Don’t do it!

Boquete4us
  8/18/2022 13:16 EST

I would suggest you contact David De Franco in Panama City. This is his first and primary expertise. I am not an investor but performed his wedding ceremony. I know some people who have done very well with him and his company. Here is a link, https://www.panamagoldbullion.com/author/david/

Tycine123
  8/18/2022 20:09 EST

I don't expect you'd have as much trouble getting that into the country, but getting it OUT is likely to be close to impossible.

greened
  9/14/2022 14:30 EST

Thanks to everyone who responded. I took your advice and abandoned the idea. Thanks also to those who private messaged me with marriage proposals and offers to store the gold. :-)

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Honeybee09
  9/18/2022 12:12 EST

Greened,
That is too funny! : )

JSBS
  9/21/2022 11:45 EST

Just saw your post on getting gold into Panama. Call the Fort Kobbe Vault +507-68960577 (that is a WhatsApp #) or +507-310-0935.

We spoke to them extensively on this subject. They have a very good, trustworthy, system with several options. They are the absolute best way to do it. Good Luck.

greened
  9/21/2022 15:34 EST

Thanks JSBS. I did contact them. Unless the metal originated in the US or Canada (i.e., Eagles, Maple Leafs, etc.) it is taxed 5% on gold and 10% on silver. Apparently that is a new law enacted relatively recently.

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