SMC Alert December 2013

S U RV I V E A N D T H R I V E I N T H E A G E O F T U R M O I L

The easiest place in the world to establish second residency

S U RV I V E A N D T H R I V E I N T H E AG E O F T U R M O I L

1. Organize a Panamanian corporation*

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SMC ALERT 20 December 2013

S U RV I V E A N D T H R I V E I N T H E AG E O F T U R M O I L

2. Prepare documents for submission

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SMC ALERT 20 December 2013

S U RV I V E A N D T H R I V E I N T H E AG E O F T U R M O I L

3. Plan your initial visit to Panama

st

4. Travel to Panama

you need to deposit at least $10,000 in the account, and an additional $2,000 for each dependent.

5. Issue of the Permanent Resident Visa Once the Permanent Resident Visa is issued, you will be required to visit Panama at least once a year for a period of 24 hours in order to maintain your residency.

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SMC ALERT 20 December 2013

S U RV I V E A N D T H R I V E I N T H E AG E O F T U R M O I L

Contact Information

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SMC ALERT 20 December 2013

S U RV I V E A N D T H R I V E I N T H E AG E O F T U R M O I L

Special Addendum for US taxpayers

1) Form 926: Once

2) Form 5471: Annually

3) FBAR: Annually

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SMC ALERT 20 December 2013

S U RV I V E A N D T H R I V E I N T H E AG E O F T U R M O I L

4) Form 8938: Possibly

Income tax

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SMC ALERT 20 December 2013