According to La Estrella, shipping companies are opting for Panamanian ship registry.
According to the Panama Maritime Authority (AMP), ship registration presents an opportunity for development in Panama. Currently, there are over 8,400 registered ships under the Panamanian flag – more than any country in the world.
It has been predicted that shipping companies will continue with Panamanian registry, due to the most favorable legislation worldwide. Advantages to both merchant ships and cruise ships include: A faster process that takes only hours for registration; discounts based on ship’s tonnage and type; flexibility based on the nationality of the crew and ship’s owners; judicial safety to clients; and a consular offices in Panama that work with worldwide shipping offices.
This is good for Panama and its development. Direct annual income from ship registration accounts for over $70 million and the income derived indirectly accounts for over $150 million.
Director of Merchant Shipping, Alfonso Castillero claims that from 2007 to 2008, there was an increase of 11% of registered ships. He expects the registry to grow at least another 9%. In the 1st quarter, there were 347 ships registered – 151 of which were brand new ships.
This allows Panama to become a larger player in the international maritime market….Interested in moving, retiring or relocating to Panama? Visit Panama-Land-for-Sale.com to see real estate listings in Panama and Portobelo. Click here to view land, condos and businesses for sale in Panama!
Showing posts with label moving to panama. Show all posts
Showing posts with label moving to panama. Show all posts
Friday, May 15, 2009
Monday, May 11, 2009
New Panamian President-Elect to Affect Local Real Estate
Those living and investing in Panama are learning more about the new president-elect, Ricardo Martinelli.
The 57-year old, self-made mulimillionaire is one of Panama’s richest men. The son of Italian immigrants and educated in the U.S., Martinelli owns Panamana’s largest supermarket chain, Super 99 and also has interests in Panamanian banking, real estate, sugar, and hydroelectric energy.
Martinelli formerly served as the former government minister of Panama Canal affairs. He also ran in 2004, capturing only 5.3% of the vote – a far cry from the sweep of this year’s self-financed campaign against Balbina Herrera.
Martinelli’s campaign platform was based on points including:
- foreign investors for tourism projects including cruise ports and airports
- more government spending on public infrastructure
- maintaining a close relationship with the U.S.
- fiscal discipline and anti-corruption
Yesterday, Martinelli announced 14 cabinet ministers. He will take office on July 1st.
Moving or relocating to Panama? Check out Panamanian real estate at Panama-land-for-sale.com. See properties, land, condos and businesses for sale in and outside of Panama! Click here for more information.
The 57-year old, self-made mulimillionaire is one of Panama’s richest men. The son of Italian immigrants and educated in the U.S., Martinelli owns Panamana’s largest supermarket chain, Super 99 and also has interests in Panamanian banking, real estate, sugar, and hydroelectric energy.
Martinelli formerly served as the former government minister of Panama Canal affairs. He also ran in 2004, capturing only 5.3% of the vote – a far cry from the sweep of this year’s self-financed campaign against Balbina Herrera.
Martinelli’s campaign platform was based on points including:
- foreign investors for tourism projects including cruise ports and airports
- more government spending on public infrastructure
- maintaining a close relationship with the U.S.
- fiscal discipline and anti-corruption
Yesterday, Martinelli announced 14 cabinet ministers. He will take office on July 1st.
Moving or relocating to Panama? Check out Panamanian real estate at Panama-land-for-sale.com. See properties, land, condos and businesses for sale in and outside of Panama! Click here for more information.
Thursday, May 7, 2009
Low Real Estate Prices Cited as Smart Reason to Invest in Panama
A new article by an owner with Panama Real Estate Sol Realty published an article this week, claiming that “Buying Real Estate in Panama Is a Smart Decision”.
Advantages like international trade and financial growth are cited as having made Panama an international real estate destination.
The Top 5 List for Investment in Panama – as determined by Panama Real Estate Sol Realty:
1.) Current Low Real Estate Prices.
2.) Low Cost-of-Living.
3.) Familiar Language – English & Spanish are prominent.
4.) Great Benefits for Retirees.
5.) Favorable Climate.
Interested in moving or retiring to Panama? Visit Panama-Land-for-Sale.com to view properties and land for sale in Panama City, Panama and near Portobelo! Click here for more information on businesses and properties for sale in Panama.
Advantages like international trade and financial growth are cited as having made Panama an international real estate destination.
The Top 5 List for Investment in Panama – as determined by Panama Real Estate Sol Realty:
1.) Current Low Real Estate Prices.
2.) Low Cost-of-Living.
3.) Familiar Language – English & Spanish are prominent.
4.) Great Benefits for Retirees.
5.) Favorable Climate.
Interested in moving or retiring to Panama? Visit Panama-Land-for-Sale.com to view properties and land for sale in Panama City, Panama and near Portobelo! Click here for more information on businesses and properties for sale in Panama.
Wednesday, April 22, 2009
U.S. Moving to Solidify Free Trade Agreement with Panama
Last weekend, U.S. President Barrack Obama, Panamanian President, Martin Torrijos, and Colombian President, Alvaro Uribe, attended the Summit of the Americas in Trinidad and Tobago. Among the topics at the summit were free trade deals with Panama and Colombia.
Currently, free-trade deals (FTAs) between the countries have been stalled in Congress. The U.S. Trade Representative, Ron Kirk, a former Dallas mayor, has stated that the U.S. is “working in good faith” to finalize these deals, and claimed that the weekend was “a very productive summit for the U.S.”.
The summit also addressed NAFTA, the North American Free Trade Agreement, as Obama has blamed loss of jobs on the current NAFTA agreement between the U.S., Canada and Mexico. The U.S. is “seeking opportunities to strengthen” its trade relationships with other countries, including long-term Free Trade Agreements with both Panama and Colombia.
The proposed FTA with Panama is of particular importance, as the Panamanian presidential election will take place in May. Trade Rep Kirk claims that the election “may provide a window to move more forcefully”. Panamanian officials want the FTA approved before the new president comes into office.
A delegate from Panama will visit Washington D.C. this week to resolve disputes over the US-Panama trade deal. Among the issues to be addressed are labor laws and tax laws. The U.S. will address concerns including internationally recognized worker rights and discussions about Panama as a tax haven.
An FTA with the U.S. would further enhance the growth and development in Panama. Interested in investing, moving to, or retiring in Panama? Visit Panama-Land-for-Sale.com for more information about our properties, land, condos, and businesses for sale in Panama, Boquete, and Portobelo. Click here for more information.
Currently, free-trade deals (FTAs) between the countries have been stalled in Congress. The U.S. Trade Representative, Ron Kirk, a former Dallas mayor, has stated that the U.S. is “working in good faith” to finalize these deals, and claimed that the weekend was “a very productive summit for the U.S.”.
The summit also addressed NAFTA, the North American Free Trade Agreement, as Obama has blamed loss of jobs on the current NAFTA agreement between the U.S., Canada and Mexico. The U.S. is “seeking opportunities to strengthen” its trade relationships with other countries, including long-term Free Trade Agreements with both Panama and Colombia.
The proposed FTA with Panama is of particular importance, as the Panamanian presidential election will take place in May. Trade Rep Kirk claims that the election “may provide a window to move more forcefully”. Panamanian officials want the FTA approved before the new president comes into office.
A delegate from Panama will visit Washington D.C. this week to resolve disputes over the US-Panama trade deal. Among the issues to be addressed are labor laws and tax laws. The U.S. will address concerns including internationally recognized worker rights and discussions about Panama as a tax haven.
An FTA with the U.S. would further enhance the growth and development in Panama. Interested in investing, moving to, or retiring in Panama? Visit Panama-Land-for-Sale.com for more information about our properties, land, condos, and businesses for sale in Panama, Boquete, and Portobelo. Click here for more information.
Wednesday, April 8, 2009
Commercial Property Next Investment in Panama?
Panama’s real estate market has seen many ups in recent years. The country has braced for real estate to be affected by the U.S. recession and has instead begun to court foreign investors.
Currently, the Panama Canal expansion represents a quarter of the country’s GDP. The $5.2 billion project, which is widening the Canal to accommodate larger cargo ships through the waterway, is expected to increase overall global trade. Along with the 7,000 jobs that the expansion has created, have been high-priced condominiums and an upward trend in the economy.
Because of the privatization of telecommunications and electricity privatization in recent years, there has been significant growth in business sectors over the past five years.
An April 7th article by Real Estate News & Information, stated that there is “A New Option for Real Estate in Panama”, claiming that “commercial office space in Panama is now passing its premium time”. It is expected that foreign investment will increase over the next five years, and with incentives to relocating companies, commercial real estate prices will go up. The source predicts that properties for warehouses and call centers will provide long-term value. Click here to read about Panama real estate futures.
Interested in a property in Panama? Visit Panama-Land-for-Sale.com to see land and other real estate listed for sale. Use our site as a resource for moving or relocating to Panama…Click here for more information.
Currently, the Panama Canal expansion represents a quarter of the country’s GDP. The $5.2 billion project, which is widening the Canal to accommodate larger cargo ships through the waterway, is expected to increase overall global trade. Along with the 7,000 jobs that the expansion has created, have been high-priced condominiums and an upward trend in the economy.
Because of the privatization of telecommunications and electricity privatization in recent years, there has been significant growth in business sectors over the past five years.
An April 7th article by Real Estate News & Information, stated that there is “A New Option for Real Estate in Panama”, claiming that “commercial office space in Panama is now passing its premium time”. It is expected that foreign investment will increase over the next five years, and with incentives to relocating companies, commercial real estate prices will go up. The source predicts that properties for warehouses and call centers will provide long-term value. Click here to read about Panama real estate futures.
Interested in a property in Panama? Visit Panama-Land-for-Sale.com to see land and other real estate listed for sale. Use our site as a resource for moving or relocating to Panama…Click here for more information.
Monday, March 23, 2009
NY Times Profiles Affordable Properties For Sale in Panama
The New York Times recently reported about the advantageous pricing in Panama…
A One-bedroom, deluxe apartment in Casco Viejo – the Old Town section that is also a UNESCO World Heritage site – offers fully renovated condos with historic features as low as $450,000. Beachfront houses can go for less than $1 million, and “comfortable” apartments range from $175,000 to $400,000.
Panamanian prices have softened somewhat, but have not crumbled like in other international cities. Panamanian banks will typically lend to foreign buyers putting at least 30% down. The area has become popular with retirees and foreign buyers from Europe, Canada, Colombia, Venezuela and Latin America.
Buying real estate is easy in Panama, as costs are only legal fees from $1,500 to $2,000, a transfer tax of 2% of the purchase price and real estate commissions of about 5%. Sellers pay capital gains taxes of 10% of profits on the property.
Many set up corporations to buy property, as it only costs about $1,000 and corporations have better tax advantages for the selling of property. There are generally about $115 a month in fees for condo fees, and no property taxes until 2035 because of government encouragement for growth and development.
Interested in property in Panama? Visit Panama-Land-for-Sale.com to see properties and businesses for sale in Panama City and outlying areas. Click here for more information about moving or retiring to Panama….
A One-bedroom, deluxe apartment in Casco Viejo – the Old Town section that is also a UNESCO World Heritage site – offers fully renovated condos with historic features as low as $450,000. Beachfront houses can go for less than $1 million, and “comfortable” apartments range from $175,000 to $400,000.
Panamanian prices have softened somewhat, but have not crumbled like in other international cities. Panamanian banks will typically lend to foreign buyers putting at least 30% down. The area has become popular with retirees and foreign buyers from Europe, Canada, Colombia, Venezuela and Latin America.
Buying real estate is easy in Panama, as costs are only legal fees from $1,500 to $2,000, a transfer tax of 2% of the purchase price and real estate commissions of about 5%. Sellers pay capital gains taxes of 10% of profits on the property.
Many set up corporations to buy property, as it only costs about $1,000 and corporations have better tax advantages for the selling of property. There are generally about $115 a month in fees for condo fees, and no property taxes until 2035 because of government encouragement for growth and development.
Interested in property in Panama? Visit Panama-Land-for-Sale.com to see properties and businesses for sale in Panama City and outlying areas. Click here for more information about moving or retiring to Panama….
Monday, February 2, 2009
Business in Panama...
Are you thinking of moving to Panama?
Last week, the Panama Report’s Matt Landau published “5 Fun and Simple Panama Business Ideas”. Landau relocated from the U.S. to Panama several years ago and noticed that like many other developing areas, Panama’s economy is reliant on trade, banking and real estate. However, he believes the following industries would be profitable as well….
1. Bars in Casco Viejo that cater to a less affluent audience.
2. Water taxis that operate from Casco Viejo across the Bay of Panama.
3. A lingerie store.
4. A good Thai restaurant or other ethnic restaurant.
5. Historical tours of Panama catering to tourists.
Click here to read the reasoning behind these picks…..
Are you interested in moving or investing in Panama? Visit panama-land-for-sale.com as a guide to all things about Panama….Check out our incredible land deals and our properties for sale in Panama!
Last week, the Panama Report’s Matt Landau published “5 Fun and Simple Panama Business Ideas”. Landau relocated from the U.S. to Panama several years ago and noticed that like many other developing areas, Panama’s economy is reliant on trade, banking and real estate. However, he believes the following industries would be profitable as well….
1. Bars in Casco Viejo that cater to a less affluent audience.
2. Water taxis that operate from Casco Viejo across the Bay of Panama.
3. A lingerie store.
4. A good Thai restaurant or other ethnic restaurant.
5. Historical tours of Panama catering to tourists.
Click here to read the reasoning behind these picks…..
Are you interested in moving or investing in Panama? Visit panama-land-for-sale.com as a guide to all things about Panama….Check out our incredible land deals and our properties for sale in Panama!
Tuesday, November 25, 2008
Panamaian Growth up Over 8% for September
The Panama City government announced yesterday that Panama’s economic activity for September 2008 rose 8.24% compared to September 2007. Economic activity increased 9.24% from August 2007 and August 2008.
As countries around the world have felt the credit crisis affect their economies, many have been watching Panama’s impressive growth amid a possible global recession and liquidity crisis.
Regardless of the global economy, the Panamanian government expects total 2008 growth up over 9.5%. According to the comptroller’s office, the industries pushing the economy upward are construction, real estate, hotel and restaurants. Much of this growth was from an increase in the number of tourists, with a particular rise in European visitors.
Panama is growing by leaps and bounds! Called the “new Miami”, developers, residents, and retirees are all looking to take advantage of Panama’s thriving economic situation! Check out our site at www.panama-land-for-sale.com to read more information about moving or relocating to Panama!
As countries around the world have felt the credit crisis affect their economies, many have been watching Panama’s impressive growth amid a possible global recession and liquidity crisis.
Regardless of the global economy, the Panamanian government expects total 2008 growth up over 9.5%. According to the comptroller’s office, the industries pushing the economy upward are construction, real estate, hotel and restaurants. Much of this growth was from an increase in the number of tourists, with a particular rise in European visitors.
Panama is growing by leaps and bounds! Called the “new Miami”, developers, residents, and retirees are all looking to take advantage of Panama’s thriving economic situation! Check out our site at www.panama-land-for-sale.com to read more information about moving or relocating to Panama!
Monday, November 17, 2008
Panama Growth to Be Helped by Brits
Ttglive.com, the UK’s travel website, announced this week that Panama expects to double the amount of UK visitors from 2007.
Among the highlights of the article that cite Panamanian growth:
The growth in Panama is absolutely amazing!! Visit our website or contact us for more information about moving, retiring, or relocating to Panama. Our website, www.panama-land-for-sale.com lists the properties we have for sale outside of Panama City.
Among the highlights of the article that cite Panamanian growth:
- In 2007, 8,000 Britons visited Panama. Already in 2008, there have been 7,400 visitors.
- Panama’s tourism industry is the country’s #1 industry and has grown by 24% over the past year.
- Tax-free inducements are offered to hotel developers until 2015.
- There are 104 new hotel projects underway.
- Investment in real estate and hotels in Panama is more than in Central America and the Caribbean combined.
- 20% of properties at Nikki Beach have been pre-purchased by Brits.
The growth in Panama is absolutely amazing!! Visit our website or contact us for more information about moving, retiring, or relocating to Panama. Our website, www.panama-land-for-sale.com lists the properties we have for sale outside of Panama City.
Monday, November 3, 2008
Panama Banking Growth - Good for those Relocating
More reports emerged this week about the positive state of affairs in Panama and how the country has not been affected by the global financial crisis.
Gisela Vergara, who is the Panamanian minister of commerce and industry, spoke this week at a forum in Tokyo. She stated that Panama has experienced fewer losses due to its sufficient liquidity within the country’s banking system.
Panama is one of the largest financial centers of Latin America, but has no central bank. The economy is based on regional financial services, and has had growth of local and foreign savings following U.S. problems. Panamanian banks offer tax-free bank savings and low interest rates on bank loans. There is no sub-prime mortgage market in Panama, but much of the country’s economy is based on the United States.
Panamanian President Martin Torrijos claimed earlier in the year that the country is prepared to face the crisis. The expansion of the Canal has allowed for further economic expansion, and the country offers economic incentives to business and individuals looking to relocate to the country.
Check out our incredible land deals in Panama! Now is the time to move or retire in Panama and experience the international growth! Visit panama-land-for-sale.com to check out our properties and other facts about moving to Panama.
Gisela Vergara, who is the Panamanian minister of commerce and industry, spoke this week at a forum in Tokyo. She stated that Panama has experienced fewer losses due to its sufficient liquidity within the country’s banking system.
Panama is one of the largest financial centers of Latin America, but has no central bank. The economy is based on regional financial services, and has had growth of local and foreign savings following U.S. problems. Panamanian banks offer tax-free bank savings and low interest rates on bank loans. There is no sub-prime mortgage market in Panama, but much of the country’s economy is based on the United States.
Panamanian President Martin Torrijos claimed earlier in the year that the country is prepared to face the crisis. The expansion of the Canal has allowed for further economic expansion, and the country offers economic incentives to business and individuals looking to relocate to the country.
Check out our incredible land deals in Panama! Now is the time to move or retire in Panama and experience the international growth! Visit panama-land-for-sale.com to check out our properties and other facts about moving to Panama.
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