So going through my inbox today, I found this:

Ottawa’s Medical Health Officer, Dr. Vera Etches, believes a uniform policy would be the most effective, saying, “Now is the time to put the mask back on. It’s not just for schools; it’s everywhere.”

I am not even going to get into how ridiculous this is. Instead, I want to point out that the vice is tightening again now that winter is here. Last time hundreds of thousands of people could not leave the country and travelling overseas was impossible.

It is more important than ever to have a Plan-B location set up in advance…

This means a legal residency in a different country, a bank account with some money tucked aside, and, if possible, a condo or piece of property you can go to.

I am in Panama. It’s a beautiful country with amazing weather, it’s safe, and if done correctly, zero income tax.

The best way to get residency here is with a $200k USD real estate investment. You don’t even need to live in it. Most of my clients purchase a turnkey property sight unseen, put it into a rental pool (short or long-term), and earn a nice little 5 or 6% return. 

The properties here traditionally keep up with inflation too. So as everyone else is losing around ten percent of their money to inflation, your property will retain its value, and you will also be making a small income.

The best part is, to keep your residency active, you just need to visit Panama 1 day every 2 years. 

You come down for one of our Expat Money gatherings, have some nice food and drinks with like-minded people from our community, then you are free to keep travelling and do whatever you want. Immigration just needs to see that you entered the country once every two years.

Tough to beat that!

Anyways, now is the time to get set up…

The first step for Panama residency is to find a property. These are the guys I recommend working with. Reach out to them for more information and start building the relationship with them, as everything, it all depends on relationships.

One of the owners, Duncan, is a very trusted friend of mine and happens to be a fellow Canadian, his business partner Jeff is an American. Both are great guys and have a ton of experience. They run the largest property management company in Panama with over 15 years of experience helping expats.

The second step is going through immigration. Once you start working with Duncan’s team, they will introduce you to my personal lawyer I do all my immigration work with for my clients. I have known her for years, and is a dear friend of the family.

If you want more information about getting a Plan-B residency in Panama, then fill in this form https://www.puntapacificarealty.com/mikkel-thorup

Hope this is helpful to you, 

Mikkel