OK - so International Living, Live and Invest Overseas, and every other real estate company (which they both are) tout the Pensionado benefits. However, they fail to tell you:
Panama has quietly canceled the "import a car tax-free every two years" benefit.
Yes Virginia, the Panamanian Santa Claus has reneged on one of the Pensionado benefits; the right to import a vehicle tax free every two years.
As many of you know, my wife and I drove our (then new) Honda Odyssey from Toronto to Panama, stopping in and reporting on 26 retirement destinations along the way.
Since arriving four years ago, I have tried every way possible to import my car without taxes as the real estate hype masters promised.
This Monday, after a month (the ATTP in Divisia held my car for 4 weeks, ostensibly to search it for drugs - I will check the milage just to be sure) I will be forced to pay $5,000 on a four year old Honda Odyssey with over 40,000 km on it.
They told me when I began the process it would be $2,400. They miscalculated, they said. I cannot tell them to forget it and return the car to Canada - as it is past the three month period, it is technically illegally in Panama - so they will not return my vehicle to me.
Welcome to Panama.
So - be aware - the no-tax vehicle import Pensionado benefit is gone.
Roberto
