Panama border officials want to see $500
 

As proof of "economic solvency". This is a sign posted at each immigration booth:

http://mym0ry.smugmug.com/Motorcycle...IMG_3035-L.jpg

Translation:

Apparently this rule has been in place since 2008, but has only recently been strictly enforced. We crossed from Costa Rica into Panama via the same crossing (Pan American Highway) in March 2013 and were not required to show proof that we had $500 per person. I think the change must have happened sometime this summer.

Who carries any of the above when traveling?!?

In lieu of this, the border official said showing $500 each in cash would suffice. We were incredulous. We weren't about to wave a wad of Jacksons in front of a booth window in public! If I was a mugger, I'd have a field day knowing everyone who went past Immigration would have $500 on their person. So a car with 5 people is an easy $2500 right there, much less a busload of tourists?!?

We withdrew $1000 at the ATM around the corner, but instead of showing the thick stack of cash, we showed the border official our ATM receipt which showed the available balance. He didn't seem too happy about not seeing the cash itself, but he relented. Not sure every official would do the same.

So, be warned, show up with your bank or income statement if you're going to cross into Panama, or carry a small fan of Benjamins.

D says the last three months of credit card statements, showing available credit. None of their beeswax IMHO but what are you going to do?
I guess you could go to an Internet cafe and print off the last three monthly statements.

For the past 30 years or so I've carried first credit and then ATM cards. No one has ever quibbled at any border, despite the fact that all borders have similar rules. Did you try showing credit cards first?

Usually this sort of rule is really not aimed at the relatively well-heeled. It's always been used to keep out those deemed undesirable--at one time that was broke hippies, but these days it's more likely economic migrants.

We carry several credit cards, none of them were accepted. If you check online, they started enforcing this rule this summer.

Thanks for the clarification and update. Here's hoping the new requirements fade and vanish with time.

Mark

proof once again of the idiocy of some 3rd world minds. you roll up on a bike, the value of which is the combined monthly salary of everyone in sight, 100's of miles from your home, and they want to see proof that you have a stinkin $500! and i'd bet a million that it is not enforced at airports.

Exactly the same shit happens for us at every US border or airport .
If in Panama you blame it on the idiocy of 3rd world minds , what do you call it on the borders and airports up north ???:oops2:

Guaterider is right, of course, and I'd think any traveler should be able to keep this in perspective.

except that determination is usually made long before you reach the border, since the US has such ridiculous visa requirements.

guaterider
Do you have to show solvency the same way and in what amount when entering other countrys at the borders or just the states. Being from up here I am totally nieve about it.
Bill

First we have to show all kind of proof of economic solvency when we apply for the visa : bank statements , credit card , real estate, vehicles,business,job,income, ...
It takes 60 min to fill out the online application and then it takes 3-4 hours at the embassy for the interrogation . And it costs US$140.00 aprox

At the entry point of the 2 northern countries (US and Canada) it always depends on the officer . Usually at the airports we are asked only to show a return ticket . Last year when I crossed into the US on my bike , I was asked a lot of questions and I was required to show how I will pay for my stay in the US.

And of course after all this , our picture and fingerprints are taken every single time that we enter the US .

Last week I flew into Houston and it took me over 1 hour just to get through the passport control .


So basically borders are always a pain in the butt and the only difference between north and south is that we have much more borders down here bier

PS: Usually the Canadian border crossing is much easier as the US border and the Canadian officers are friendly

We ran into some US ex-pats in David who had been living in Panama for the last 11 years. They have two kids, both Panamanian by birth, but because they themselves weren't citizens yet, they had to drive to the border every 3 months to renew their vehicle import permit, and every 6 months to renew their visa.

They've been doing this for the last 11 years and this was the first time they were ever required to show both economic solvency *AND* a return ticket back to the US. Needless to say, they had neither, so had to leave the border empty-handed. They were going to get bank statements, and buy a refundable plane ticket back to the US (where they have had no residence for over a decade), and then cancel the ticket after they got their visa extended.

They told us the rules change all the time, sometimes the visa extension period is 6 months, sometimes 4, sometimes longer. There was a new government elected last year and they are now changing all the border rules. They think this new requirement is a tit-for-tat for the US/Canada economic solvency hassle they put Panamanians through (and other Central Americans - as per Guaterider's post). They don't think it will last though... :thumbdown:

11 years living in the country and never got residency? that smacks of just asking to be hassled...

I'm not sure what the advantages of not applying for residency in Central America are for US citizens, but it's not the first time I've heard of this. We were applying for our visa extension at the government office in Guatemala City a few months ago and ran into several Americans who had lived in Guatemala for years and kept on applying for extensions every 6 months... :confused1:

It is all a game of keep up here, I have lived for 12 years in CR & Panama without residency, last week for the first time CR asked for economic solvency, a minimum of $300 as well as a ticket to somewhere, Panama is trying to enforce a ticket to your country of residency!
Luckily this part does not affect the bikers.
Yesterday on my way back to Panama I was asked for cash & told the official I had over a grand which was true & she did not ask to see it. In front of me was a small bus group of older women all waving hands full of cash, around 8k in total!!!!!!!!!

Brilliant idea in a place like Pasa Canoas!!

I crossed into Panama a few days ago at Rio Sereno.
I was asked how much money I had with me but was not required to show it. I told the guy I had $400 and that seemed to satisfy him.
Muy tranquilo at Rio Sereno.

True that brother.

While visa hoping in and out of Nicaragua and CR just showing them my motorcycle log book has been enough. CR and Panama the same.

Walkovers I have been with, have been asked for proof of onward travel, but not always. There are a lot of expat visa-runners in CA and the local authorities are well within there rights to enforce border protection/immigration rules.

That said, I have never been required to prove any financial means or been required to wait the mandatory 72 hours before returning to the neighbouring country.

I believe its important how you present yourself to the immigration officer, profiling does happen, and while you may relish the rough n ready "man/women of adventure look" you have carefully cultivated, they (may) just see another drop-out. The locals take a lot of pride in their appearance.

If you are planning to give something back in these countries, most organisations will happily supply you a constancia - official letter recognising you as a volunteer etc. In my experience these work wonders at borders.

Andrew

Solvency
 

Years ago I spent some time in Thailand and had the same visa renewal hassle along with the economic solvency hassle. I learned to solve it by buying travelers checks when flush with cash, then immediately reporting them stolen to American Express. Amex would quickly issue replacements, which I immediately cashed. The 'lost' travellers checks could be used at the Thai/Malasian border to show solvency.

Update to Entering Panama-

The last few months, foreigners need proof of Onward Travel to enter Panama by air, bus or on foot. This means a bus ticket out, or a plane ticket out. It is now a major hassle at all border crossings from Costa Rica, especially on the Pan Am route, the caribe Sixoala route seems to be more relaxed. Airlines are enforcing this prior to boarding a flight to Panama, I was denied boarding on Dec 15th, on a CPA flight from Chicago to Panama City, as my return was from Liberia Costa Rica 4 weeks later,so a oneway will be no good, and you may have to buy a fully refundable Oneway ticket out of Panama to San Jose, on Taca or Avianca for around $500.

All you need for proof of funds is a Major Credit Card.

Costa Rica Exit Tax: This new tax ( $7) debuted in NOV and caused massive chaos. Foreigners and Panamanians/Nicaraguans, were arriving at border with no notice of the new tax, and there was no way to pay cash, it had to be paid at a certain bank, which had no ATM or office nearby on 3 of the 4 four borders crossings, Paseo Canoes (Pan AM HWY CA1)has the bank branch, but closed sundays, NO GO for Sixoala Caribe, Rio Sireno/San Vito (Panama), Los Chiles (Rio San Juan via boatto Nicaragua) and Penas Blancas ( Pan Am Hwy CA2via Nicaragua).

Then after a media firestorm and travelers having to return back to either Liberia (Penas Blancas) or Limon (Sixoala) crossings, only to find bank branches closed or not even able to prepare a receipt in some cases, the Exit Tax was suspended, apparently until Feb 10, until the bank that has the contract, can install ATM type devices at the borders/Immigration, to pay via CC/Cash (Colones or USD). The crux of all this mayhem, typical for CR and Latin America, is that the bank with the concession to collect the tax, is on verge of failing, and legislative powers want to seize it now, as its holdings are insufficient to covers it huge losses in real estate loans and foreclosures, which have mounted in recent years (like US Situation).

So, who knows when this will be operational and they collect the tax again, keep an eye on TicoTimes or AM Costa Rica.

:wacko:

I crossed last week into Panama at Sixaola and was not asked for this. Easy border, and close to Bocas Del Toro - which was wonderful.