In order to participate in the GunBroker Member forums, you must be logged in with your GunBroker.com account. Click the sign-in button at the top right of the forums page to get connected.

Job offer in Panama.

fishkiller41fishkiller41 Member Posts: 50,608
edited May 2006 in General Discussion
Good friend has a treasure salvor operation going down there,$80Mil. out of the water in 16 mo.He's now bought a large container/cargo ship to ferry building materials in order to begin const. of a small resort/hotel.Think it's safe to go down there and make some major tax-free money?
I'll prob work the boat until the hotel/marina's running, then do the dockmaster thing...What do y'all think?
Jeff
· Share on FacebookShare on Twitter

Comments

  • Horse Plains DrifterHorse Plains Drifter Forums Admins, Member, Moderator Posts: 40,224 ***** Forums Admin
    edited November -1
    Well, I wouldn't but that's just me. No need for me to leave the protection of the USA.
    · Share on FacebookShare on Twitter
  • Yasser ArafatYasser Arafat Member Posts: 172 ✭✭✭
    edited November -1
    It's safer in many regards than Mexihole, but is still subject to the same corrupt gov't issues. I would ship stuff out of the country as regularly as possible to keep from having much in the way of valuables on hand at any time. Thieves and police tend to show up there whenever you have much $$$ on hand. There are several varieties of poisonous snakes to beware of as well, they have one that is commonly referred to by the Spanish equivalent of 'two stepper'. Do not give or offer fried chicken to any female, its more serious than giving someone roses here in the states. If there is a kid with a baseball bat n the parking lot where you park your car, toss him a couple bucks (or balboas) and they will literally beat the living bejeezus out of anyone who attempts to mess with your car. If the police or security tell you to stop, DO IT! They have pretty liberal policies about shooting 'suspects' down there. Outside of those issues, it is a beatiful place.
    · Share on FacebookShare on Twitter
  • Ray BRay B Member Posts: 11,822
    edited November -1
    After the pleasure of dealing with Panamanians in the airport on a stopover, I'd go anywhere before going to Panama again. But I know a few people that live in Costa Rica and it is much better.
    · Share on FacebookShare on Twitter
  • Warpig883Warpig883 Member Posts: 6,459
    edited November -1
    quote:Do not give or offer fried chicken to any female, its more serious than giving someone roses here in the states.

    You beat me to it. There has been many a soldier who got lucky after buying some chicken.
    · Share on FacebookShare on Twitter
  • FrogbertFrogbert Member Posts: 2,380 ✭✭✭✭✭
    edited November -1
    Yeah, though I walk through the shadow of death.....I swear I will not touch the red buds of Panama.....Honest.....YEE HAAAAAAAAA!!!![:D][:p][:D][8D][8D][8D][:p][:o)][|)]
    · Share on FacebookShare on Twitter
  • fishkiller41fishkiller41 Member Posts: 50,608
    edited November -1
    I like Costa as well. But the job will be aboard ship for at least 6-9 mo. before i will be lookin at mainland Panama as an adress.It's my friends deal, and he's piped the gonmt. a few mil. alredy. He says they like him and anyone he brings there.I'll get a good look wile workin the ship before i make any big decisions.So. Florida is just turning into 1 big Ft. Liquordale, and i think the change might be cool.
    Jeff
    · Share on FacebookShare on Twitter
  • mrseatlemrseatle Member Posts: 15,467 ✭✭✭
    edited November -1
    It's not somewhere you wanna be when the balloon goes up.... but until then...[:p]
    · Share on FacebookShare on Twitter
  • kristovkristov Member Posts: 6,633
    edited November -1
    Panama is curretly one of the hottest investment markets in the world with new hotels and high rise apartments going up daily. Be careful about the concept of earning "tax free money" since stashing away cash earned abroad (and keeping Uncle Sam from finding out about it) takes more effort than many people think.
    · Share on FacebookShare on Twitter
  • fishkiller41fishkiller41 Member Posts: 50,608
    edited November -1
    If one is paid in Panama from an account in Panama, is it not considered money made "out of the country?
    · Share on FacebookShare on Twitter
  • kristovkristov Member Posts: 6,633
    edited November -1
    Thre are very specific rules for maintaining tax exempt status on earnings abroad. These are fairly complex and involve spending at least 11 months per year outside of the United States as well as a meeting a number of other IRS regulations . As a US citizen ALL of your income, domestic or foreign, is subject to taxation unless you can demonstrate tax exempt status to the IRS. Before you start out on a job abroad with the notion that you won't be liable for income taxes you had best talk to an accountant to learn the specifics. A tax treaty exists between the United States and Panama so any earnings you receive through a Panamanian bank will be reported to the IRS. If you are paid in CASH then the situation abroad is no different than it would be with cash payments made to you in this country.
    · Share on FacebookShare on Twitter
  • 11BravoCrunchie11BravoCrunchie Member Posts: 33,423 ✭✭
    edited November -1
    Make sure you get your malaria vaccination...remember what happened when they built the Panama Canal?
    · Share on FacebookShare on Twitter
  • kristovkristov Member Posts: 6,633
    edited November -1
    http://www.mdtravelhealth.com/destinations/mamerica_carib/panama.html
    · Share on FacebookShare on Twitter
  • yoshmysteryoshmyster Member Posts: 22,051 ✭✭✭✭
    edited November -1
    Might be wise to get paid in cash like some enterpernering indivisuals here in the states on work "visas"[:D]. Then go to the duty free Colon, Panama and spend a grip of cash on gold or jewelry (loose rocks are easier to move) and then ship it home. I think you have to declare $10K and over, some places will ship for you. A frind of mine was going to open a small place there so he could ship back under the free trade deal[?]. But Tax-Man will find out about your earnings and put the smack down on you. I think he told me one has to report and pay 6 or 10 years of income in taxes before they cut you loose[xx(].

    Personally, I'd buy Beach front land with the earnings and hire your own army to protect you and your stuff[:D]. Then retire down there eating lobsters big as your leg three times a day[:D]. If you make more than that then a hotel of your own?
    · Share on FacebookShare on Twitter
  • SperrySperry Member Posts: 5,006 ✭✭✭
    edited November -1
    quote:Originally posted by quikdraw67

    Put "sexually-transmitted disease" and "fried chicken" into Google ... [;)]
    · Share on FacebookShare on Twitter
  • SperrySperry Member Posts: 5,006 ✭✭✭
    edited November -1
    A joke ...

    No, I don't know either.
    · Share on FacebookShare on Twitter
  • Yasser ArafatYasser Arafat Member Posts: 172 ✭✭✭
    edited November -1
    Don't forget about the geckos, they invade every crevice of the house worse than cockroaches. If a bug lands on you, don't swat it, a gecko will be along to get it in a few seconds. If something falls on you in the middle of the night and runs, its a gecko. If something falls on you and walks, its a big * bug[B)]
    · Share on FacebookShare on Twitter
  • fishkiller41fishkiller41 Member Posts: 50,608
    edited November -1
    I'm not scared of lizzards or large insects .I'm from So. FLORIDA!
    We have plenty of both...
    Jeff
    · Share on FacebookShare on Twitter
Sign In or Register to comment.