Re : Questions on citizenship vs pensionado visa

Objet: Questions on citizenship vrs pensinado visa Date: Jeudi 31 Juillet 2008, 13h11 Sir, I have a question that I hope you can assist me with.I am a 53 year old US citizen (born in NY City) and I am considering moving to Panama in the next 1-3 years. My father (now deceased) and his father were both born in Panama. My uncle (also born in Panama and a former member of the national guard) has offered to assist me in obtaining dual citizenship if I want it. I am aware of the pensinado visa and some of its benefits(tax exemptions, no taxes on out of Panama income, and discounts). I am curious if there would be any advantages/disadvantages of pursuing dual citizenship instead of a retirement visa... Primarily Would my income from the US remain tax free if I had dual citizenship? Can I own a business in Panama in either situation? Are their benefits for retired Panamanian citizens(discounts etc)? Could my wife get dual citizenship if I did. http://groups.yahoo.com/group/Panama_laws_for_expats/files/Dual%20citizenship/ has a discussion on benefits of dual citizenship. As a child of a Panama citizen you qualify for Panama citizenship, but if you were born abroad, you must first submit authenticated birth certificates and other documents. You can own a retail business as any Panamanian but also can claim pensionado duty free status as a returning Panamanian. A foreign wife cannot claim Panama citizenship immediately.