Organizing a Panama relocation does not have to be a tedious and challenging process. One of the most vital aspects of making a long-distance move is the approach you take for shipping your belongings. To save you from trying to figure out this on your own, here is an easy-to-follow guide packed with useful information on how to ship your belongings to Panama with ease!
The first step of the plan – contact a shipping company!
As long as you have a solid plan and stick to it, the entire shipping process should be finished without delays or unexpected issues. The goal is to know every step of the way by heart.
The first step of the plan is to hire a company that provides the best relocation services to Panama. When working with the right people, everything will go exactly as planned.
Once you reach out to a shipping company of your choice, check all of the services they provide:
- Ask about the prices
- Check if they can get the shipping containers to your house
- Verify the time necessary to complete the shipping
It is also crucial to ask them to explain every step of the shipping process.
The moving day
When the moving day comes, it is essential to have someone to assist you in the process. Keep in mind that all of your boxes should be packed and ready to go.
As soon as the moving van arrives at your location, their experts will help you load all of your belongings properly to the truck and take you to the port.
To ship your belongings to Panama you must have the right shipping documentation:
- Commercial invoice
- Tax documents
- Shipping labels
A commercial invoice is a customs declaration that verifies you are transporting belongings across international borders.
Tax documents include all taxes needed for shipping to Panama. That usually includes Customs duty tax, VAT, etc.
Shipping labels are used to display the correct information about the package’s nature, destination, and tracking numbers.
All this paperwork can be a real head scratcher but have no worries. Everything will be taken care of by the shipping company.
As you can see, there are many benefits to enjoy if you work with the right company. If you are ready to start planning your move, reach out to the professionals at peasleyboisemovers.com, as the sooner you begin the process, the better. Delays can always happen, so there is no reason to wait.
Prohibited items to ship in Panama
When packing your belongings, keep in mind that you cannot ship some items to Panama. The list changes from time to time, and currently, it includes:
- Fresh food
To avoid issues and delays, be sure to double check if something changed before you start packing.
Time frame for shipping belongings from the United States to Panama
The shipping time frame mostly depends on the type of shipping you choose.
For Express Shipping, everything should be completed within two to four working days. When it comes to Economy Shipping, the time frame extends from five to eight days.
Final steps for shipping belongings to Panama
Once your belongings arrive in Panama, the customs agents will inspect the container and the paperwork. If everything is fine, they will quickly clear your belongings.
The best way to move all the boxes to your new home in Panama is to have the shipping company pick them up and deliver them to your new home.
With that in mind, make sure this is covered when creating a contract with them.
How to import your belongings to Panama tax-free?
One of the reasons why Panama is such a popular destination is that it provides many ways to ease the relocation process. A good example is an option to import your belongings tax-free.
The way to achieve this is to apply for a retirement visa.
Retirement Visa requirements
To get a retirement visa, you need to:
- be over the age of 18
- have a lifetime pension, or
- Social Security, or
- Annual income of at least $1,000 per month
If you are married, you can combine income with your spouse to meet the requirements.
With the Pensionado Visa, you can import goods in the value of up to $10,000 tax-free.
Additional benefits of the retirement visa include an array of useful discounts:
- 30% discount on public transportation
- 24% off on domestic and international flights
- 25% discount in all restaurants
- 50% discount on entertainment activities
- 25% lower utility bills (water consumption, electrical energy consumption, and telephone usage)
As you can see, having a Pensionado Visa is useful if you wish to ship your belongings to Panama, but it also has other significant benefits to offer!
Overall price estimates for shipping your belongings to Panama
To ship your belongings to Panama, know that the shipping rates vary based on the location. For example, if you are moving from New York, you may pay around $850 or more. The prices may go up to $1500.
When it comes to Tax Duty and Taxes, it depends on the nature of the item you are shipping. Here are a few estimates for goods worth approximately $500:
- Bags and luggage – $35 tax on item value / $50 tax on item duty
- Computers or laptops – $35 tax on item value / no duty
- Home appliances – $35 tax on item value / $25 tax on item duty
- Furniture – $35 tax on item value / $75 tax on item duty
- Jewelry and other valuables – $35 tax on item value / $50 tax on item duty
- Mobile phones – $35 tax on item value / no duty
- Sport equipment – $35 tax on item value / $25 tax on item duty
As you can see, the tax on item value is always 5% of the total value. However, the duty tax may vary from 0% to 15%, depending on the category.
Ship your belongings to Panama with ease!
Hopefully, this start-to-finish guide has provided you with all the requirements to quickly ship your belongings to Panama. Follow these steps, and there should not be any delays. Even though unpredictable situations may happen, it is crucial to plan out the entire process. Good luck with your move, and enjoy Panama’s riches to the fullest!