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Re: Panama Pensionado Visa question???
Old 05-02-2007, 04:45 PM   #7
Recycles dryer sheets
 
Join Date: Jun 2005
Posts: 447
Orchid, wagemonkey is spot on. Find out from other expats and even local lawyers what the rules are in practice. Getting written verification from an official about such a rule is an American practice and does not really work in the Latin world

In Mexico, you can also use a bank account with a high enough balance to renew your resident visa each year (showing enough to live on for that year). But if you go by just reading the rules, you would not know this. But I verified this with expats.

Deserat, dollarization has actually been successful in Ecuador -- since you left there has been only 3% per year inflation. Imagine living in an economy with up to 100% annual inflation with the Sucre. The current president is a leftist ideologue (Correa) opposed to dollarization, but he had to change his stance because dollarization has become popular and most see it as the only way to continue a stable economy.

Kramer
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