Visit Panama Legal Law Firm

Introduction – Many of our clients decide to come to Panama and visit us. It is easier, and faster to open bank accounts if you visit Panama. Some clients visit at the onset of their professional relationship with us and some come later on after the relationship has already been formed. Other clients simply like to come to Panama and visit their money and that is fine.

What we are going to do is explain to you the best way to arrange your visit, how long to stay (we need you for 2 working days), what can be accomplished and what you can do recreationally when visiting Panama. When you visit we generally only need to keep you in our office one to two hours and then about the same amount of time at the bank, so read below to see what else you can be doing while visiting the worlds number one retirement haven.

Panama Banking – Most people that come to visit us in Panama are concerned about visiting the bank where they are going to be banking. They can meet the bank branch manager and go over the details of their account and inquire about other services and banking products. Some people feel really good about seeing a 40–story hi–rise building with the name of their bank on the building. Others feel good about physically meeting the branch manger. If a personal visit to the bank makes you feel better as your Law Firm in Panama we consider this a very real and important concern that we take seriously. One of our attorneys will go to the bank with you bringing all of the necessary corporation and foundation documents and stay there with you through the entire account opening process at the bank. Bank accounts will generally open 1–3 days after the visit. This is because all new accounts in Panama must go to a new account opening committee for approval. This is something like a loan committee at a bank. As a reminder it is not necessary to come to Panama to open the bank account.

Panama Bank Account Opening in Person – When here physically the bank account opening process is faster, easier and the choice of banks is numerous. We have banks that do not charge for incoming wires, we have large international multi–billion dollar banks, we have banks that operate only in Panama (these are usually quite small in comparison), we have banks that open accounts in Euros, Pound Sterling and USD, and we open accounts with the largest bank in Panama.

Account Opening Documentation – When coming all you need to do is bring us a bank reference letter and a general business reference letter. We assume you will be carrying your passport and drivers license. That is all we need.

Panama Corporations and Panama Foundations – Generally it takes 2–3 days for these formations to come back from the Panama Registry. Most clients have concerns focusing on the banks and stockbrokers, not the actual formations. Bearing this in mind we generally have the formations completed and in hand before the client arrives. This spares the client from having to wait in a hotel until the corporation and/or foundation comes out of the registry. We cannot go to the bank until the formations are completed. Feel free to ask questions. If you wire us or western union to us 50% of the fee we will have the corporation or foundation formed and waiting for your arrival at which time you can pay the balance. The alternative is to use a Panama shelf corporation or foundation. The disadvantage is you don’t get to pick the name and there is a $200 extra cost for a shelf corporation.

Panama Stock Brokerage Accounts – When you are here we can take a copy of your Panama Corporation and/or Panama Foundation documents to a reputable Panama Stock Broker and you can meet the brokerage house with one of our lawyers and we can fill out all the necessary paperwork. Like with the banks the account will open in a few days. We also have banks with stock brokerage companies.

Airport Pickup – We can have a driver meet your flight with a Panama Legal sign. He will speak English and the brakes on his car will work <smile>. The charge for this is $30. We will need 24 hours notice and your flight itinerary with flight numbers, arrival times, number of people, etc.

Panama Hotel Corporate Rates – We can get you corporate rates at a hotel right in Panama City in the El Cangrejo section of the city. This is the action center of the city. There are numerous casinos, restaurants, clubs, shops, car rental agencies, Internet cafes, and street vendors with all sorts of wares to sell. They are passive vendors with goods displayed on the sidewalk, no aggressive selling allowed. The hotel we use is a three star in a five star neighborhood. Vary safe, very clean, and very comfortable but plain vanilla amenities. The rate is $55 a night with breakfast. To find yourself a hotel go to our hotel directory.

Things to do When Visiting Panama

So now you are in Panama for a few days what do you do?

Suggested Panama City Restaurants

Seafood Buffets – Amazing and fresh seafood found only on Friday nights at the Downtown Marriott ($22.00) and the Sheraton at the convention center ($26.00). These are all you can eat. Generally Lobster dishes included.

Steak – Lenos & Carbon at the causeway on the water. Super great steaks cooked on wood. ($16). If you just want a great steak and atmosphere is not important go to the food court at Multi–Plaza Mall or Allbrook Mall and have the same Lenos & Carbon steak cheap, starting at $6.00 for a big steak with little salad, rice etc.

Seafood & Pasta – Albertos on the causeway, right on the water by the yachts ($17). Watch the boats and the people walk by. Later on in evening live music outside.

Lebanese – Beirut restaurant across the street from the downtown Marriott. Amazingly good food. They have Hookahs that are used to smoke fruit. Smells nice but never tried, seems popular. Hang around after dinner, good for that too.

Chinese – Madame Chang’s on Uruguay Street, well right off it a few feet. ($27). North American style Chinese food. Practically all the Chinese restaurants seem to use MSG even though they act like they will honor your request to not use it. Interesting menu, nice location, fun evening.

Thai – Twist Restaurant right across the street from the Miramar hotel and apartments, sort of upstairs. ($20). They have a very different menu.

Italian – Rhinos Restaurant, up the street a block or two from Twist (see above) ($15). Very good Italian food and strolling minstrels too.

Typical Panama Food – Manolos Restaurant in El Cangrejo across the street from Veneto Casino/hotel ($10). Very popular spot with outside seating and you can watch the people walking by show.

Pizza – Many of the restaurants have a real wood pizza oven and have great pizza on the menu, cheap too.

Fast Food – We have it all MacDonalds, Burger King, Pizza Hut, KFC, Dunkin Donuts, Baskin Robbins, and other assorted junk food.

If in Doubt – Take a taxi to Multi–Plaza Mall that is our high–end mall. There we have Tony Romas, Benihana, Sushi Ito, few other restaurants and a big food court. Walk around window–shopping and when your appetite lines up with a restaurant you are walking by go in and sit down. They are all good places to eat. There are gourmet coffee cafes as well.

Things to See

Panama Canal– It is an awesome sight to watch a 60,000–ton vessel go through the canal locks with only inches of clearance on each side of the canal. The Panama Canal experience will take 90 minutes up to 3 hours depending on how many ships you want to see pass through and if you watch the movie or not. The Panama Canal is only 20 minutes from our downtown Panama City Offices. You can go to the Panama Canal at night and have a nice dinner in a special restaurant at the canal while you watch ships pass through the locks, which are all lit up at night. How is that for different! The sushi there is quite good and is part of the buffet. Oh the prices are about $16.00 per person and it is an eat all you want buffet. How can you come to Panama and not see the Panama Canal?

Beaches – There are many. Do not bring your ice skates, the blades will rust. The nice beaches are on the Pacific side by Coronado. There is a great all–inclusive hotel on the beach there called the Decameron. Figure about $200 a day per room for two people including food, tips, room, and all drinks including alcoholic beverages. Coronado is about 90 minute drive from downtown Panama City. There is another beach resort near the city but the beach is not that great. The resort is called Intercontinental Playa Bonita. Mel Gibson just stayed there for a week. It is a beautiful modern resort and only 25 minutes into downtown Panama City. Some like the Bocas Del Toro region, which is only a 50–minute flight by plane to Panama City. Disney is building their water slide park out near Coronado. There are many other beaches around Panama. Beach front houses can still be had for under $200,000 but please remember to not bring your ice skates.

Panama Surfing – Plenty of surfing on the Pacific side.

Panama Diving – Plentiful on the Atlantic and Pacific side.

Gambling Casinos – No shortage in Panama City. There is nothing here like a big strip hotel in Las Vegas. The biggest and best casinos are like the better downtown Las Vegas casinos. They offer a full line of gambling but I never saw Chemin de Fer played in Panama. There is also horse racing in Panama City. No bull fights. No Jai Lai. Some casinos are hotels, nice hotels at that. The Veneto Casino Hotel is the flagship located in El Congrejo. The Marriot Decapolis located by Punta Patilla next to the Multi–Centro Mall is also very nice. For more information on Gambling in Panama go here.

Restaurants – Panama has them all. Any kind of restaurant you would ever want is here. The food is great and free of steroids, antibiotics, chemicals etc. People often move to Panama and drop 20 pounds without trying because they eat clean food. Any kind of food you can get in North America or in the EU we have here. Hundreds of restaurants. Prices run a mere fraction of the North American prices. A great steak dinner runs $7.50 to $12.00 typically. Ask us to suggest restaurants, we will after all you are our client.

Shopping – We have three big malls. Multi–Plaza is the high–end mall rivaling any mall found in North America waterfalls and all. Allbrook is our very large budget mall. And Multi–Centro is our mid range mall. Visit the food court in any mall and go to Lenos y Carbon for a great grilled piece of meat or fish cooked over a wood–burning grill. A 20 oz. T–Bone dinner runs $7.50 and may be one of the best steaks in Panama. Forget the duty free shops, over priced. The drivers we suggest charge $8.00 an hour and will take you on a shopping tour. Yes they will help you carry all those wonderful bargains you found.

Medical Tourism in Panama – How does $350.00 for a porcelain crown sound? Interested in acupuncture or homeopathy treatments when here? A one–hour massage (therapeutic only) at your hotel for $30.00. How about a treatment with an ultra sound machine that breaks up fat cells and they dissolve away never to return for like $400 or so. No anesthesia, you can talk on your cell phone during the treatment and jump off the table and run around immediately. It works and losses can be in the inches from one treatment. This may entice a family member to come. Plastic Surgery is about 40% to 50% of the US prices and many have US boards or training. We can assist you with a referral, just ask.

Panama Real Estate – Want to invest in some real estate, we can get you in touch with the right broker. Just ask for a referral but don’t you dare sign anything until we have reviewed the paperwork. Investigate mountain living just 60 to 90 minutes from Panama City where it is 65 to 75 degrees year round. Imagine a home with no air conditioning and no heater in the rain forest with a water view for under $200,000 on several acres. There are investment opportunities for land, private homes, townhouses, condos, bed and breakfasts etc. We do not sell real estate.

Immigration – Need a second passport or residency? Process your paperwork while visiting us.

Golf – No shortage of golf courses, so bring your clubs. There is a very nice one at Coronado.

VIP Movie Theater – Imagine a theater only seating 60 or 70 people with serious stadium seating. Imagine upholstered chairs that recline fully yet you can still see the screen. There are footrests that come up so you are in full recline better than any first class airline seat. There are also waiters. You can have beer, hard drinks, popcorn, burgers, ribs, sushi etc all while you watch the movie. Cost of a ticket is $6.00 and the seats are reserved. Movies are in English with Spanish subtitles. VIP movies can be addicting. The name of the theater is Extreme Planet and it is next to Multi–Centro Mall.

Deep Sea Fishing – Panama has had championship marlin (1200 pounds) and grouper (400) pounds taken in tournaments. Boats run about $600 for a half day and $1100 for a full day. This generally includes drinks, food etc. The guides are most assuring that you will not return empty handed. We can refer you. Panama has no hurricanes by the way.

Indigenous Panama Folks – Visit a village where the men wear a loincloth and the women wear nothing up top. They sell artifacts and are friendly. No headhunters, I promise.

Clubbing – Panama has many nightclubs, bars and watering holes of all different sizes shapes and specialties.

The Causeway – The dirt removed from the Panama Canal back in 1913 was made into a causeway that is a few miles long. Very cool and breezy and full of great restaurants, clubs and tourist shops. The Smithsonian has an aquarium exhibit there. Go to Albertos at the end and sit next to a few 150–foot yachts (of course they are registered to bearer share corporations) while you have some fantastic seafood and sip on a Balboa Beer. Balboa Beer is something like Heineken only not so heavy and nicer (subjective). Balboa Beer is $0.35 a can in the supermarket, $1.50 in the restaurants. If you are adventurous get a shot of Seco, which is hard liquor made from sugar cane. To learn more about Panama booze go here.

Casco Viejo – This is our version of Greenwich Village. Wonderful old houses on the water being restored. Also looks a bit like the New Orleans French Quarter. Full of Pubs and great restaurants.

Panama Rain Forest – Go to Gamboa Resort, get a room there if you like (expensive). It is right in the rain forest. Take a boat out to an island full of monkeys. Sit in a little gondola and go right through the treetops observing but not disturbing the animals in their own habitat. There is a zoo nearby that has one of every animal found in Panama including the world’s largest eagles – the Harpy Eagle with a massive wingspan.

Panama Snow Skiing – Just kidding. You have to stay home for this.

Last but not Least – Get to meet your law firm.

Questions are welcome, really.