www.CostaRicaTicas.com

OK...I take the bait. Maybe the Panamanians find it easier to compete in CR because they have more money (US dollars) and work harder. Plus, a significant number may be chasing some of you guys at the Delrey since you have yet to discover the joys of Panama ...

Apart from these obvious guesses and joking around...I have pretty good inside information that many of the wealthy Ticos and families that run a majority of the big companies there that arent multi national are flocking to Panama corporations and banks to guard their futures against the coming tax reforms...and the sliding colone...which the Central Bank is threatening to let "float" versus spending a lot of borrowed funds to support the colone. If they do that, you will see an almost overnight huge correction of the colone against the dollar like I saw when living in Mexico in 94. So yes, keep your account in dollars for sure.

Again, no personal agenda here... just reporting the news as I see it and live it.

**legal disclaimer...this is not an offering of securities or financial opportunities in Panama or elsewhere. The poster does still hold accounts in both Costa Rica and Panama...and the USA for that matter.

I would certainly keep my money in dollar accounts, just in case. I don't think we'll have a Mexico style adjustment...but you never know.

safest to hold your money in various currencies in different countries and dont forget the secret stash(the government doesnt know about it) of gold maple leafs. And with the internet you can manage accounts from anywhere.

_________________
The Wizard

"Women and cats will do as they please, and men and dogs should relax and get used to the idea." - Robert A. Heinlein


Doesnt look like Costa Rica for a while. Got offer 2 years in Singapore. Now what is a good hotel in Thailand. (New Weekend home).

Majority of expats I know keep most of their financial resources safely in FDIC insured US banks. They remove cash, as needed, by using their ATM card and depositing small amounts in a CR bank so that they have a relationship with a local financial institution.

_________________
Pura Vida
Only Irish coffee provides in a single glass all four
essential food groups:
alcohol, caffeine, sugar and fat.
Alex Levine

That way its easier for the government to keep track of you. Also bad if you are ever sued. I will stick to places with strong privacy laws. Unlike USA, most of europe and canada.

_________________
The Wizard

"Women and cats will do as they please, and men and dogs should relax and get used to the idea." - Robert A. Heinlein


Doesnt look like Costa Rica for a while. Got offer 2 years in Singapore. Now what is a good hotel in Thailand. (New Weekend home).

Valid points if you have concerns along those lines. I am not worried about either so using a US bank does not trouble me.

_________________
Pura Vida
Only Irish coffee provides in a single glass all four
essential food groups:
alcohol, caffeine, sugar and fat.
Alex Levine