Panama Investment Package/Post RV Cash In

I created a new topic here not knowing where else to put it.

I was contacted by one of the dealers I bought IQD from 2 weeks ago because the person I spoke with knew that I live in Panama and that I was investigating banks and potential packages here for post RV.

He asked me if I might be interested in researching further or in some way acting as a liaison to aggregated groups of people that this particular dealer had with regards to cash in and/or investment packages for post RV. I was taken a little off guard by this as my original intent was merely to investigate Cash-In options here in Panama. (Panama is a large international banking center with about 85 banks, of which 44 are solely international banking charters, meaning that these international banks don´t aggregate deposits locally or operate in Panama but instead function as international banks via pass through, etc... for trade most resulting from the Panama canal etc. But of course the other banks DO operate locally and are licensed as such. A few of the large multinational banks we have here are HSBC, Citibank, Scotiabank, BBVA, etc...)

Anyway, in the pre-liminary I am posting this for the review of some of the moderators whom I would request contact me to discuss further if this is deemed appropriate or desirable with regard to potentially adding value to the membership. And if so, then I leave it their discretion as to whether to offer or mention it to the members here. (I did not want to post something here like an ad or some kind of solicitation, but rather wanted to extend the invitation of respected mods here to inquire and asses this)

In short, I have meet with my attorney (whom is a close personal friend) who belongs to one of Central Americas most pre-dominant and largest law firms. We have discussed at length tax implications, cash-in, company and trust structuring (In Panama Trust´s are called Foundations) as well as Private banking investment offerings and regulations.

As such, I have discovered a large amount of what I feel is valuable information and investment structuring to folks whom may have an interest in doing this internationally. After much deduction in discussions here, there are opportunities to set up master managed accounts through local banks here that would offer various instruments whether these are fixed certificates of deposit, market accts or even brokered trading, whereas investors could participate as SUB accounts in the General Managed fund. These sub account holders would also have access to monthly dividends that are deposited directly to an international ATM card for withdrawal anywhere in the world. Also earned interest could applied to the principal capital if preferred for a longer term plan.

What makes this most attractive and convenient is if there is an aggregated "group or pool" whom would chose to participate which gives leverage to the offering and negotiation with the local bank.

If there is an interest from folks in this potential option then I would request a Mod contact me directly for a direct review and discussion of such.

Thank you and God bless.

Aaron Williams

Thanks for taking the time to do your 'due diligence'. Sounds like Panama has some very good options... including other valuable incentives and benefits. GREAT POST!
MiddleClassMaiden :flower:

Hi Aaron,

I am definitely interested in opening up some type of bank account in Panama. My husband and I would like to retire in Panama. Is there a way that I can contact you or your attorney for additional information?

Blessings,

Luna

Is it ok to post email address here?

If not just message me privately here and I will respond.

Aaron

Well I re-read the rules and disclaimer and don´t see any rule against posting my email address, so here goes:

Never post your e-mail address or other personal information in a public forum ... guard your privacy at all times.

awilliams

i have acounts in belize i would realy be intrested in

panama my email adderss is in my profile please contact me

Hey everyone.

So far I received 3 or 4 people whom have messaged here with interest.

Basically my original post was aimed at taking a "poll" of sorts of potentially interested Dinarians whom want to pool thier $$ together to deposit as a large fund thereby receiving maximum leverage and benefits from a local bank in terms of cash-in rate and other perks.

One of the main reasons people seek offshore opportunities is for privacy and asset protection. Panama has great privacy laws and asset protect structures for this purpose.

Anyway, if enough people respond and there seems to be a "collective" of interest then I was thinking maybe to organize a conference call Q&A or something like that.

If you are looking solely to open your individual bank account in Panama, then this can be a bit hard given Panama´s very strict compliance requirements for foreigners. You will need to be here in person and also have 2 bank reference letters from your native country. These reference letters have to be addressed specifically to the bank you intend to open the account with. This can be quite cumbersome as most people don't know which bank they want to deal with until they come and shop around a bit.

What I am getting at is, a lot of people circumvent this process by creating a Company or Foundation (Trust) structure. They also use local signatories to be on the accounts which alleviates any issues with reporting or difficulties in opening the account. Many people are not comfortable or willing to open, invest, or use a 3rd party signatory for their accounts. This is certainly understandable.

*If you are simply looking to pursue Panama options on your own with your own bank and investment accts in your name directly then indicate this to me in a private message with your email and I will put you in touch with my close friend Marco whom is an atty here and can answer your questions,etc...

**If you are more interested in privacy and offshore asset protection, investing,etc.... then please indicate this to me in a private message with your email address and I will collect these to see how many people are interested in a collective strategy. If we get enough people interested then we can organize further action such as a call or something,etc...

*** Another note to mention; a lot of posts recently in the Dinar communities about staying liquid in interest free accounts to protect capital until things settle down and adjust. Another popular recommendation out there is to put your $$ in other currencies to hedge against devaluation of the USD in the short term. I am taking this 2nd posture myself personally and is the reason I have already engaged Scotiabank here in Panama. They are a Canadian bank and offer accounts several different world currencies. (Most banks only offer 3 or 4 of the majors, but SB offers quite a few more)

Regards,

Aaron

Nothing against the person that started this post! Panama has much to offer for those that are interested! Just suggesting that people should be very careful! This is coming from someone that just joined this group January 22 of this year (2012).

The internet provides an enormous amount of information to people. The biggest downfall is that it is very difficult to ascertain the validity of any site or program that is on it! This is also true of individuals! Even to the founders of this site, you do not know their real names or anything about them! So to place trust in anyone and I mean anyone on this site is a huge mistake! Please be smart and do not provide any real information about yourself! No name, real email address, real address, etc.

It appears that we may actually be close to this coming to fruition, whatever close or soon means anymore. Those terms have no meaning to me anymore!

Just be careful about offering any personal info to anyone including those who run or monitor this site about yourself! Better safe than sorry!

humingbyrd, I agree with your post 100%

Yes I am a fairly new member of the Dinar community as an investor in the IQD and the VND. I have only been invested in these opps for a little over a month, but as the old and the new, I am invested just the same.

The intent of my post is merely to help those whom may be looking in this direction. Since I have lived in Panama for over 6 years now, I have learned many things about living and investing down here that many would not know. You are correct that Panama has many great things to offer, but there is also a lot of blatant and mis-informed "hype" about Panama and the opportunities that exist here. (primarily in Real Estate in my opinion. As such I am NOT an advocate of any foreign person investing in Panama Real Estate opps without a thorough knowledge and investigation of it personally for many months or even years. This is because RE down here is very much over inflated under false pretenses. IMO. Just FYI)

Investing in Panama is NOT for everyone!

I simply found that through my own research into possible cash in possibilities here, that structured opps do exist that could be implemented on larger "managed fund" scale that might be attractive to some depending on what their preference or personal objectives are.

It has taken me 6 years to sift through all the "BS" and identify legitimate and trustworthy professionals that can assist in the set up and administration of these various things. of course its different for me than most because I do live here and have direct access to people that I know and trust for this purpose.

I agree that EVERYONE should take caution and use your own discernment in any opportunity ESPECIALLY foreign and particularly outside of your personal comfort zone.

Regards,

A

I am aligned with Humingbyrd on this, no offense intended Aaron but these forums are prime targets for very excitable and even investment/portfolio naive persons.

I am treading very cautiously yet I am interested in Panama as I have heard some very good things about it from Americans already planning to go or already residing there. (non-dinarians) It is beneficial to know someone who has already done the legwork and eliminated any potentially significant roadblocks and obstacles to purchasing properties or starting businesses.

With that said I may be interested in what you are discussing and would have my US attorney work with me to secure or finalize any future investments in foreign countries. Perhaps once you have a plan, for what you are wanting to do - ready for review - you could PM myself or others interested.

Respectfully,
GG

You are right, allowing people to obtain your personal information could be dangerous.

GoodGosh, thank you also for your reply and input.

1st, I have no agenda and not trying to push any investment/portfolio,etc... Just trying to educate and help. I am not an investment professional, nor am I an atty,etc... Just sharing information. I already have my own strategy and plan in place for my personal use. Just sharing what I know for those whom are looking at Panama but don´t have the knowledge or experience of living here.

2nd, using your US atty is a great idea. My atty friend here is a great person and used to be the trade counselor at the US Embassy in D.C. a few years back. Speaks fluent English and is someone I trust implicitly as one of my closest friends.

3rd, One of the great things about the laws here are that ANY investments or capital gains earned from investments on deposit or otherwise that are derived from OUTSIDE Panama are NOT taxed! The same whether you are foreign or domestic here. How you structure and report this is up to you.

4th, yes your suggestion of putting forth the actual plan is necessary. I am still putting all details in place as this is something that was just dropped in my lap by virtue of someone who asked me about it and hence I am just lending a helping hand.

Thank you all for your comments and inquiries,

Aaron