| Swiss-born Chris is no stranger to expat life, having lived in countries such as Senegal and the USA prior to moving to Panama, where he now lives with his wife. There he wields his prowess in the real estate industry, and tells us why Panama is presently a buyer's market. He also shares some of the things he likes about living and working in Panama. |
 Chris |
-Where were you born?
In Switzerland.
-In which country and city are you living now?
Republic of Panama, Panama City.
-Are you living alone or with your family?
With my wife.
-How long have you been living in Panama?
Initially 11 years, in the early Eighties. Then I moved to the US. Miami and Manhattan. Two years ago, I moved to Panama.
-What is your age?
Mentally and physically 30, but my passport says 60. Must be a typo.
-When did you come up with the idea of living in Panama?
I guess you could call my Panamanian wife an important factor!
-Was it hard to get a visa or a work permit?
It was not.
-Was it difficult for you to get medical insurance before you went there or when you first arrived?
I kept a fantastic Swiss medical insurance until I arrived in Panama. I got a local insurance that covers me worldwide. Very affordable, but I selected the highest possible deductible. I am blessed with perfect health and (because?) I have never taken any prescription medicine (I never asked "my" doctor if Dumbex is right for me) and I stay as far away from doctors as I can. The way I see it, medical insurance is just for extreme emergencies: "I have bad news and good news... Bad news, you've got cancer. Good news, it's good for my bottom line!"
-How do you make your living in Panama? Do you have any type of income generated?
I was a real estate broker in Miami, first with EWM.com then with Prudential Realty and I had a very bad feeling about the market (which dropped 40% after my departure, but that's not related). I did a lot of research, online and word of mouth, to identify the best real estate company in Panama.
My criteria were simple... I had heard too many horror stories about how real estate was conducted in Panama, where a majority of "agents" operate illegally (which would be a felony in Florida, carrying a jail sentence) and I wanted to work for an American style company with a high sense of ethics. I contacted Century 21 and was hired immediately, based on my US broker licenses. I am happy with that choice.
-Do you speak Spanish and do you think it's important to speak the local language? (please add your thoughts on local customs and whether it's important for expats to respect/observe local customs).
I speak Spanish perfectly, albeit with an accent but that doesn't matter. It took me three months to be able to speak, read and write, but I was determined to do it. I speak other languages so it was not too difficult, although I had budgeted one month... I was rather motivated, as my employer (International Committee of the Red Cross) had sent me to Argentina by mistake, although I did not speak a single word of Spanish.
It was a huge mistake, taking into account that I had been very thoroughly vetted and was submitted to extensive examinations for every language I spoke. I guessed someone put an X in the wrong column. It was a bit foolish from my part to accept the assignment which involved interviewing political detainees and reporting on their condition, but it was not MY mistake and I always loved a challenge. As it turned out, no one ever found out my secret, which I shared only with the prisoners of a female facility. They had few opportunities to laugh...
In Panama, you can certainly get by with English only, but it is not as widely spoken as you would think. Do yourself a favor and learn the language. It's good for your aging brain. Panamanians are basically a welcoming people and they have an excellent attitude towards the Gringos, which they somewhat regard as superior beings. Gringo is not a bad name, by the way, and I use it freely. This may not be case in other parts of Latin America.
-Do you miss home and family sometimes? Describe your favorite recreational activities there or those that are available.
One of my sons lives in Miami, and most of my family, including my parents, live in Switzerland, and of course I would want to see more of them. I am however a professional expat, I've lived in lots of places, so home is where I lay my hat. Nice beaches are one hour away, but the truly spectacular ones are on the Atlantic side.
-Do you have other plans for the future?
I plan to be an active Realtor for the next 25 years. Travel plans are limited to visiting family and friends.
-What about housing, have you bought, or are you renting a home? How much do you pay for it?
Right now, Panama is definitely a buyer's market. Apartments cost around $150 to $200 per square foot in the capital, and much less in the "interior" provinces. New apartments currently benefit from a 20 year property tax exemption.
-What is the cost of living in Panama?
Not as cheap as you would think, but less than in Florida for example. If you are retired, you get all kind of discounts, in restaurant meals (good food!), prescription, travel and entertainment. How does a movies ticket for $2.00 sound? That's for an original English soundtrack (Spanish subtitles) for a recent movie in an American style movie place. And if you choose to pay a tad more, they have VIP screening rooms with leather recliners, where your food is served by waiters.
-What do you think about the locals?
Panamanians are great people. Very welcoming. If you consider yourself a VIP and expect the reverence due to your superior status, then stay home. You are not going to get it here. The word here is IGUALADO, meaning that they see you at their level and not as a superior being. I find their familiarity quite refreshing. They need to work a bit on the customer service thing. They will get there...
-What are the positive and negative aspects of living in Panama?
The positive aspects overshadow the negative. I like to have US Dollars in my wallet (the ONLY local currency) instead of useless banknotes printed on demand. No hurricane season, for one thing. By the way, the Central American country whose economy is the least affected by the world's financial turmoil. Panamanians do not feel compelled to reply to their email messages ASAP. They frequently treat it as snail mail... but that may change, given the current Blackberry invasion. (I am an iPhone guy!).
-Do you have any tips for our readers about living in Panama?
Come spend a few weeks to test the waters. You may want to rent an apartment at first until you find the neighborhood that best suits you. If you see cheap rentals on the Internet, take into account that leases are for one year. You can find short term but there is less to choose from. If they don't advertise short term, then it's for 12 months and that explains why they won't bother responding to your inquiries.
-Do you have any favorite Web sites or blogs about Panama?
I need to update my own site, but I would recommend the website of my company, as it provides a good snapshot of the current market. By the way, many real estate websites are not reliable at all. One simple reason: many of my colleagues advertise properties they do not represent, just to hook a prospect... (Sorry, that apartment just sold yesterday, but I'll be happy to help you find you another one!).
On occasion, competitors copy and paste the descriptions and the photos from my listings then post them, without changing a comma, on their own sites - at a lower price! (I am not getting upset anymore...). There's another factor: expired listings stay posted for years, because no one bothers to remove them. That might give you a false idea of the market.
So here's Century 21's website: http://www.semusarealty.com/
If you need a reliable Interior Designer, my wife Rita will be happy to answer your questions. She is an ASID allied member: http://www.interiordesignpanama.com/ If you have a question, I'll be happy to help.
Take care, and thank you Lizza and Victor for providing this interesting forum!
Working in Panama
Although I am retired from Project Controls/Mngt in the Eng.& Const. industry I currently teach Recuperative Yoga which is is an all ages, all infirmaries yoga which obviously would be ideal in a retirement area although I do have students in their early 30's right now who are either beginners/restarters into yoga, or are recouping from injuries.
I lived in Panama as a youngster (late 50's early 60's) and loved it there .. my parents were members of the Archeological Society and we had a weekend place in El Valle .. although we were military we were not the type who stayed on Base/Post. So living on the economy is not a problem for me.
I realize that Panama is ranked currently as Number One for retirees and that Panama makes it very easy for ex-pats to retire there I was wondering how hard it would be to have a, probably in-house, yoga studio there. I realize that in country income would be taxed but that would still leave my US SS as untaxed .. and working as a Yoga teacher is more for me than anything .. and its not like classes there are that expensive. I did check out some Yoga studios there and most of the classes were in the $5-10 range per student and I only do small group or individual classes so the earnings would not be significant. But I do want to be legal about it.
I was thinking about taking a vacation there this year to give me a more updated view of the country and thought I might want to rent a house for a month or two if I can schedule it. I assume those type rentals are rather expensive but I would prefer a non-gated community rental. I'm a inner city, funky houses, artist community dweller normally. Most of what I have seen listed seemed very posh and I was wondering if there are places to rent that would be more like what I would be interested in living in.
thanks,
Melissa
YOGA in PANAMA
Hello Melissa,
That’s quite a career change, but probably a smart choice and less stressful. Yes, Panama is ranked as Number One for retirees, but you don’t see many folks running around in plaid shorts and mismatched shirts. And, while there are gated communities (Costa del Este, for instance) they are not geared towards the Third Age. No retirement communities that I am aware of. Anyway, who says Yoga is reserved to grand parents? Lots of people could benefit, and that includes me, atlhough I am familiar with meditation. Good thing that you plan to go legal about your new profession, especially when you post your intentions on a public forum. Taking a vacation here is a wonderful idea. Hotels are not cheap though and it’s hard to find short term rentals, but not impossible. The best location for you would be Casco Viejo (now Casco Antiguo, because “antique” sounds more valuable than “old”) Panama City’s colorful downtown. Although this ancient part of the city is being discovered by artists and investors and is slowly getting restored, it remains very authentic as the original dwellers have not been displaced. This is no Disneyworld… Welcome back to Panama!
Chris
You´ve got a friend in Panama!
BILINGUAL SCHOOLS IN PANAMA
Hello Denise,
First of all, I apologize for this late reply. I took a few days off, as Panama is virtually shut down because of the (prolonged) national holidays. It´s obvious you did indeed fall in love with Panama. And you don´t even have a Panamanian spouse, which is my case! True the opportunities are many, especially for retirees – since they don´t compete with the local work force. The “pensionado” visa applies to individuals of any age, who decide to retire. The condition is not age, but a permanent (pension, social security, etc) income from another country. There are other types of investor visas, based on specific investments. I am not an expert on immigration, but I suspect that a good way to find employment would be to create it. I see your interests are diverse. I love doing real estate, but I would certainly love to be a coffee grower (Boquete), for example, or a small hotel /resort operator (Bocas del Toro). The Caribbean shore (Pacific Ocean) is actually very accessible. This is where Panama City is located. At the other end of the Canal, where the city of Colón is, you have the Atlantic and the beaches are truly superior (from the San Blas islands, which is a Cuna Indian reservation, to Bocas del Toro). In other words, Coronado is on the Caribbean side, but just an hour from Panama. About your husband, transportation logistics would likely land you in Costa del Este, a new US style neighborhood 15 minutes East of Panama City. Obviously, your lodging accommodations would depend on your job situation. Here in the city, single family homes are pricey and burglars would be a concern. What is valuable is the land… many homes have been razed and replaced by 30 story buildings. However, you can find US style townhouses in gated communities around $200K, 20 minutes from the city. If you think Panama City, then a condo in a tower is very likely. Boquete is charming, but it´s a small provincial town. You will need to come back and keep exploring. Many other factors to consider, of course, such as schools… Here´s some information about bilingual education:
http://www.panamainfo.com/en/schools-where-should-i-send-my-kids
While it´s true that many real estate sites are never updated (if it does not cost you to advertise, why bother?), the Century 21 site is more reliable and I can always provide you with more accurate information, whenever needed.
Best regards to you and Darren,
Chris
You´ve got a friend in Panama!
Dream House in Chitré (Herrera)
Hi Jim,
The reason why you find it so hard to find a reasonably-priced house in Panama is simple. Because of the current construction boom, which has slowed down a bit but is still going strong, buildable land has become expensive. Developers view a well-situated house as a piece of land where they could build a 50 floor tower. I´m afraid you are not going to find a large house (especially with the kind of garden you are looking for) under $200,000 in Panama City. At that price, I could find you a brand new apartment with 20 year tax exemption in a good location, but not a house. Since you are looking to retire in a quiet location, with good medical facilities, a golf course and nearby beaches, the town of Chitré (Herrera Province) might work for you. The only drawback: it´s a 3 hour drive (excellent highway) from Panama City, but it´s a booming little town with theatres, restaurants, supermarkets (even a large McDonald´s) and daily flights from the local airports will soon put the capital a mere 30 minutes away. This house belongs to an American couple who use it as their vacation home. It´s within your price range at $175,000 and with all the gardens you need. I hope it´s still available when you arrive next February. It will be a pleasure to assist you.
Best,
Chris
http://i205.photobucket.com/albums/bb118/daptin1/Chitreporch.jpg
I hope the picture shows... If not, here´s another link with more details about the lot size, etc.
http://i205.photobucket.com/albums/bb118/daptin1/DreamHouseinChitrHerrer...
You´ve got a friend in Panama!
Panama Visit
Enjoyed your article. We are planning to come to Panama the beginning of 2010 with the hopes of possibly renting an apartment and then in about a year buying a property if we like it. What I really need is someone to take us around once we arrive. Do you have anyone we could get in touch with to show us the area so we can determine a good place to live. We live in Florida now, but want to move to Panama. We need the name of a good hotel to stay in near Panama City and then someone to escort us around to the nice areas to live. We will be happy to pay for their time and expertise. We are just a little older than you.
Please let me know via e-mail jrksgs@aol.com
Jack Kenney
A good hotel in Panama
Hi Jack,
Glad you liked it, although it was written on the spur of the moment and it hardly qualifies as an article. I’m not much of a tourist guide, but I’m always glad to help. It will be a pleasure to show you a few nice neighborhoods personally and I can refer you to someone who can do that more extensively. I can also recommend a good hotel, if you define the word “good”. That would depend on the duration of your stay and your budget. Let me know when you are in town and we’ll have a cup of coffee. The Century 21 office is located at Multicentro, on Avenida Balboa, an easy-to-find location in a city where street addresses are not very relevant.
Merry Christmas!
Chris
You´ve got a friend in Panama!
Hello Chris~ I came across
Hello Chris~
I came across this site and forum; found it to be interesting and informative. As I read on, I was able to expand my mind thus see how it can be a helpful and useful tool for others who are planning, anticipating or even are in the very early stages of considering the idea of living in another country for whatever their reason is.
I am at the "early stages" of consideration. However, my interest is not in the country in which you reside and work in; but, in Haiti. And, my reasons for making a change are different. It is the recent earthquake in Haiti that have once again beckoned my spirit and heart; caused me to pause, rethink and consider making a move to not merely assist in the relief efforts; but, beyond. You made mention of working for the International Committee of Red Cross and I want to ask you further information about this piece if I may too. As I am already a local and national ARC volunteer and have long desired wanting to explore the opportunities with the International Committee of Red Cross for years. It is this "piece" that is draws me to your "doorstep" for additional information, guidance and direction.
Your time, consideration and thoughts are appreciated and welcomed at: CJY4Ever@aol.com
Have a blessed day as you travel to and from. You have blessed mine already.
Cindy
Dream House sold... with cat clause!
Hello friends,
As Jim already knows, I just sold the house in Chitré to a young couple. There was a somehow unusual clause: the two cats were part of the sale and had to be taken care of. I was glad to arrange that. I am happy to report, they get along extremely well with the new owners´chihuahua!
You´ve got a friend in Panama!
The International Committee of the Red Cross (reply to Cindy)
Hi Cindy,
When I visited Haiti in 1976, I was struck by the mixture of poverty and potential. It looks like that situation has not evolved much. The catastrophic earthquake could not have happened at a worse location. Nevertheless it has focused worldwide attention on that tiny country and I pray this attention endures. News networks bombard their viewers with images of despair and that in turn helps channeling donations. The risk is that news network find something new to boost their ratings (The octomom or the flying saucer boy, etc... ) and forget about Haiti overnight.
I worked for the International Committee of the Red Cross (ICRC), the independent organization based in Geneva and at the origin of both the Geneva Conventions and the Red Cross, as a Delegate. It may surprise you to learn that the first requirement is Swiss citizenship. As the ICRC website (http://www.icrc.org/eng) explains:
"Recruitment of members of the International Committee by co-opting them from among Swiss citizens is a guarantee of cohesion and efficiency. Its members have attended the same schools, and often share the same background - the liberal professions, or higher education; they think along the same lines, and can identify themselves with the institution much more easily than would eminent figures from different parts of the globe. And since they do not represent any State or party, they are responsible only to the Red Cross and to their own conscience. They have no constituency to which they are answerable for their activities and for the opinions they express within the ICRC. In fact, despite the momentous nature of their decisions, the vast majority of them are taken not by vote but by consensus emerging from discussion. The International Committee has never reached a deadlock because its members failed to agree."
Congratulations for being a local and national ARC volunteer! We are members of the same family. You may want to further explore with the ARC all available opportunities to help Haiti.
On my Facebook page, I have placed a link to Doctors Without Borders, which I feel are the most qualified recipients for donations. I don´t have excessive appreciation for people who walk around with a stethoscope around their neck and do my best to avoid them, but these doctors are heroes who volunteer their time and expertise to do emergency field work. They keep red tape and expenses at a minimum and are always the first on location whenever they are needed. Their website is http://doctorswithoutborders.org/index.cfm
Check it out!
All my days are blessed, and so are yours...
Christophe
You´ve got a friend in Panama!
Working in Panama
Chris:
I read your information with great interest. I am a realtor with Coldwell Banker which is a sister company to Century 21. My wife and I are thinking of moving to Panama where I served in the Army for 2 tours in the 80's, the latest one with the US Embassy there. Although I'm a military retiree, I'm not ready to just quit and bask in the sun quite yet. I need to keep working and real estate is what I had planned to do. You commented that obtaining a work permit was very easy. I read another commentary from another expat currently living in Panama and he said it was very hard, almost impossible to obtain a visa or work permit and then stated that "foreigners are not allowed to work here(with some exceptions). Can you help clarify this point. Obviously, you're working as a realtor there so I don't know what this other expat was referrring to. Where do I go to obtain additional info on this point? I look forward to hearing from you soon.
WORKING IN PANAMA
Chris:
I read your information with great interest. I am a realtor with Coldwell Banker which is a sister company to Century 21. My wife and I are thinking of moving to Panama where I served in the Army for 2 tours in the Eighties, the latest one with the US Embassy there. Although I'm a military retiree, I'm not ready to just quit and bask in the sun quite yet. I need to keep working and real estate is what I had planned to do. You commented that obtaining a work permit was very easy. I read another commentary from another expat currently living in Panama and he said it was very hard, almost impossible to obtain a visa or work permit and then stated that "foreigners are not allowed to work here(with some exceptions). Can you help clarify this point. Obviously, you're working as a realtor there so I don't know what this other expat was referrring to. Where do I go to obtain additional info on this point? I look forward to hearing from you soon.
Dear Colleague,
You are correct, I am working in Panama as a Broker Associate with Century 21 and - although my age entitles me to $2.00 movie tickets - I am not about to retire any time soon. Sorry if I may have implied it was easy to get a work permit. It was easy for me indeed, mostly because my interior designer wife is Panamanian... While it is easy to obtain a "pensionado" visa (the condition being not the age, but being the recipient of a fixed income such as one from a pension fund) I believe it's not as easy to obtain a work permit. The best way to go would be to contact a Panamanian immigration attorney. Many won't charge you for preliminary information. If you contact me at panamawise@gmail.com I will be happy to supply the name of the attorney used by Century 21.
Best regards,
Chris
You´ve got a friend in Panama!