Retirees Investing in Panama for Many Reasons...

The Panama Report published a segment this week that validated further claims regarding the benefits of retiring in Panama.

Panama has seen an influx of “middle-aged foreigners” looking to retire in the country, due to the worldwide recession. 

Panama offers advantages of: cheap living, low taxes (by all standards), a low cost of living, a favorable climate, and low medical costs.  Additionally, Panama does not tax income from other countries and allows property tax exemptions for 20 years.  Panama has boomed in areas of banking, real estate, tourism, and other entrepreneurial enterprises, as the country’s “pro-business” mentality has extended globally.  Now, professionals and retirees alike are flocking to this very diverse and international area. 

It should be noted that Panama offers many advantages, but is for easy-going people.  Among the challenges in retiring to Panama: the slower pace of life is not for everyone, and Spanish is the official language (however, English is widely spoken).

Interested in investing in Panama?  Visit Panama-land-for-sale.com to view properties and real estate for sale in and outside of Panama City!  Click here for more information.

STRI to Highlight Panama Land, Culture, History

The Smithsonian Tropical Research Institute (STRI) has announced a series of programs and educational endeavors through 2010.  Entitled “Panama at the Smithsonian”, the exhibitions will highlight Panamanian culture and its development and history, including its impact on the U.S.

The new exhibitions began in April with a free concert.  From October 5, 2009 through May 31, 2010, STRI will exhibit “Panamanian Passages”, an interactive display featuring live flora and fauna, a tribute to Panama’s natural history, and educational tours that focus on how modern-day Panama came to be. 

Panama’s biodiversity has attracted scientists since 1910, and the Smithsonian Tropical Research Institute was founded in 1923 as a biological reserve that is devoted to ecological studies.  The STRI has been operated by the American Smithsonian Institution since 1946.  The Institute is famous for the use of two cranes that were erected in 1990 and 1997 for three-dimensional access for studies.  The cranes are located at both ends of the Panama Canal.  The STRI contributes to studies for new drugs, the global climate, species, and ecosystems.

Relocating or moving to Panama?  Visit Panama-Land-for-Sale.com to see properties and real estate for sale in Panama City and surrounding cities.  Click here for more information.

Economical Advantages for Retirees in Panama

Jacksonville.com published an article last week with the title of “Panama: Land of Mountains, Oceans, Scotch and Cheap Beer”.

The article taps into some of the smaller differences that exist in Panama like $3 six-packs of beer, cheap taxis and transportation, inexpensive healthcare, and widely-available high-speed Internet throughout the country. 

Panama has developed a very international tourist industry in recent years.  The area has been highly “Americanized”, with wide use of the U.S. dollar.  Additionally, the country offers cheap drinks, an upbeat nightlife, and a relaxed atmosphere.  Residents and those who have relocated to the area are offered many daily non-stop flights from major U.S. cities, Europe and Canada.  There is also a low crime rate and a strong banking system – with the most stable economy in Latin America. 

• Retiree advantages, if able to obtain a visa by proving $500 income per month, include:
  
• up to 50% off of entertainment expenses
  
• up to 25% off at restaurants
  
• 30% discount on transportation – bus, boat, train
  
• 25% discount on airline tickets
  
• 10% off of prescriptions
  
• 15% off of healthcare visits
  
• 50% off of real estate closing costs
  

Additionally, Panama does not tax offshore income, making the location truly an economical paradise.

Panama is the new Miami….Interested in investing in Panama? Visit Panama-Land-for-Sale.com to see properties, real estate and businesses for sale in and around Panama City!  Click here for more information.

Outerlying Panamanian Areas Offer Real Estate to Tourists

The Examiner recently published an article about outer-lying areas of Panama, including the
Panamanian beaches of the Isla Iguana Wildlife Refuge – also known as Iguana Island. Iguana Island, located on the Pacific Ocean, is about 200 miles southeast of Panama City. The island, which is over 140 acres in size, was declared a wildlife refuge in 1981. The area was used as a bombing practice site during WWII, and eventually a sole resident inhabited the island in 1960.

Today, the area is home to beautiful white beaches and a variety of tropical animals including birds, hermit crabs, whales, sea turtles, and it’s namesake—the green iguana. The entry fees to Iguana Island range from $3-$5 per person, per day. Many people stay in Pedasi, about 5 hours outside of Panama City, which has many hotels, restaurants and shopping…..

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Panama Land, Development to be Influenced by Trade Agreement?

According to the Associated Press, Panama has moved to the top of President Obama’s list for a trade agreement….

President Obama is committed to goals announced throughout his campaign of “rewarding strategic allies and confronting economic necessity”. Obama will be making his case before a Senate Finance Committee, and is pushing for a deal by July 1st.

The trade agreement will be viewed as a sign of friendship by many. Obama, who was a critic of NAFTA while campaigning, now sees the importance in a trade agreement with Panama. As a result of the Canal project, there is a growing transportation infrastructure that is seeing a rise in US tourism and trade. A trade agreement is supported by companies like Caterpillar, a company that has increased its presence in Panama and will increase production as a result of the Canal project. A trade agreement would allow U.S. companies to bid on Canal-related projects.

A U.S. trade agreement would be beneficial to the development in Panama. Interested in land in and outside of Panama City? Visit Panama-Land-for-Sale.com to see properties and real estate for sale in Panama.

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.

U.S.-Panama Developmental Agreement in the Works

This week, Reuters reported that the new President-elect of Panama, Ricardo Martinelli, is hoping to push a Free-Trade Act (FTA) with the United States as soon as possible.

Calling the FTA “our No. 1 priority”, Martinelli is anxious to put a trade agreement into place. Panama exported $377 million to the U.S. in 2008. Panama only taxes dollars that have been earned within the country, and as a result often faces critics accusing the country of providing an “offshore tax haven for wealthy foreigners”.

Martinelli, a wealthy supermarket tycoon, won the election by a staggering 60% of votes on Sunday. His administration rejects all complaints that U.S. citizens use the country of Panama as a tax haven. Frank De Lima, the head economic advisor to Martinelli’s administration has stated: “The perception that Panama is a tax haven is totally false…new government will be open to sharing information with U.S. authorities and plans to work to pass the agreement as soon as possible”.

A U.S.-Panama trade pact was signed by former Panamanian President, Martin Torrijos, in June 2007, but is currently being held up by U.S. Congress. President Obama’s administration has stated that it is hopeful to develop an agreement with Panama relatively soon.

Currently, Panama is a popular destination with U.S. retirees, particularly in a recession. Visit Panama-land-for-sale.com to view properties, land, and condos for sale in Panama and the outlying areas. Click here for more information.

Panama Land Prices to Grow Rapidly by August

According to a recent press release by Property Abroad, “Panama property prices will be growing rapidly again as early as this August”.

The site claims that because Panama has been less affected by the worldwide recession than other countries, there will be significant opportunity to be had. The Panamanian property market-thus far- has remained fluid due to American retirees.

According to a market analyst with Property Abroad, “Panama property is still selling at a steady rate to American retirees and lifestyle buyers. Prices have been largely unaffected by the global downturn, because there has hardly been a downturn. Around the world people are realizing that property investment opportunities still exist abroad”.

Europeans are attracted to Panama, due to better interest rates and returns. It is suggested that if the pound continues to strengthen, Panama will be even more desirable.

Properties in Panama start at under $100,000 US.

Interested in property in Panama? Visit Panama-Land-for-Sale.com to see land and properties for sale in and near Panama City, Boquete, Colon and Portobelo. Click here for more information.

Investing in Panama - Tips for Entrepreneurs

Matt Landau’s Panama Report published an article last week about the 7 Steps to Panama Entrepreneurship.

Panama is a financially appealing country, as the recession takes its toll globally. Panama offers an increased quality of life and “the timing is still good for new business ideas”. There are payoffs for developing in Panama and there is a significant opportunity to make money. However, one must engage in the local culture to succeed. The Panama Report gives the following 7 tips for the incoming entrepreneur.

1. Find good local contacts.
2. Learn about immigration status and work visas.
3. Work harder than your competition.
4. Execute a unique business plan and keep costs low.
5. Socialize, travel and stay busy.
6. Utilize the unique nature of Panama’s landscape for work and to alleviate stress.
7. Use trial and error to build the perfect staff.

Click here to read the entire article.

Interested in investing in Panama? Visit Panama-Land-for-Sale.com to see businesses, condos and land for sale in Panama! We have properties in Panama City and outer-lying areas near Boquete and Portobelo! Click here to view our properties.

Panama Growing into Healthcare Retreat

Panama is now being called a destination for “medical tourism”. This newest genre describes the international citizens that are traveling to Panama, across international borders, to obtain medical coverage.

Amid the economic crisis, the plunging real estate market and job cuts, the rise in medical demand is unprecedented, with many unable to afford the “luxury” of healthcare. Currently, even banks are willing to lend to health-related organizations.

The medical tourism industry is growing due to a lack of health insurance and coverage in places like the United States. As a result, many international citizens are looking to places like Panama for all kinds of healthcare from plastic surgery and dentistry to specialized surgery. Travel agencies have begun to capitalize on this growing trend and are offering “health care holidays” at luxury resorts, combining medical and recuperation with vacation. Medical tourism has existed for decades and centuries in places like Bath and St. Moritz. However, the number of Americans traveling abroad will grow from 750,000 in 2007 to 10 million in 2012, spending an estimated $21 billion a year.

The reasons citizens are flocking to places like Panama for medical coverage:

• Quality and Price are roughly 20% of healthcare costs in the U.S.
• World-renown hospitals like the Mayo Clinic and Johns Hopkins are setting up affiliate operations in places like Panama and the Middle East.
• Medical operations are completed much more quickly as a result of not having to deal with insurance or public health.
• Patients are able to purchase Global Health Insurance Coverage, private health insurance that provides global coverage.

The Top 5 Health Care Destinations are Panama, Brazil, Malaysia, Costa Rica and India.

Want to buy a place in Panama? Visit panama-land-for-sale.com to see land deals, businesses and properties for sale in the newest international hotspot of Panama!

Real Estate to Continue to Generate Wealth in Panama...

Panama Opportunities just published an article called “Creating Wealth – Real Estate Investments in Panama”

As many real estate investors understand, there is still wealth to be created in Panama with property. The Panamanian government is considered to be “pro-real estate”, continually encouraging business opportunities in Panama. Additionally, the land and property prices in Panama are much more affordable than other areas of the world, and without natural disaster occurrences.

A haven for Americans, Europeans and retirees, Panama offers tropical benefits of owning a Latin American property without the hefty price tag. Prices in Panama are much more affordable compared to other areas of Latin America.

Panama presents a sound business opportunity due to its central location, beachfront and mountain properties, and well-planned cities. Click here to read the entire article.

Panama-land-for-sale.com has many properties and investment opportunities. Panama lots starting at $39,000. Click here for investment and land deals in Panama!

Advantages of Panama Real Estate - Banking

The site LoopHoling.com published an article this week about banking in Panama. As a summary, the site explains the following points of banking in Panama.

• There are 150 banks in Panama.
• The types of banking that exist are:
• Banks that can only do business with entities not in Panama
• Banks that can only do business with entities in Panama
• Banks that can do business with those offshore as well as within Panama
• Savings and Loans institutions which invest 70% of long term deposits in Panama real estate

For those not living in Panama, obtaining a Panamanian bank account can be difficult. However for those that own or rent a home in Panama, the process is easier.

Banks will need cell phone number, regular house phone number, mailing address, reason for being in Panama (i.e., retired, moved), bank reference from home country accounting for your banking history and standing, local references, passport and driver’s license, explanation of your source of funds in Panama, and a reference from a lawyer or accountant from your home country.

Checks from the USA take 3-4 weeks to clear and Panamanian checks can only be written within the country. Panama’s stringent bank secrecy laws allow only national governments holding a criminal case on file in the court system is able to collect from Panamanian accounts (the Mutual legal Assistance Treaty), but it is still a timely process. There is no other accepted party that is able to take money from a Panamanian account holder. Read this interesting article in its entirety here.

Looking to move to Panama? We have incredibly economical land and residential deals. Visit panama-land-for-sale.com to learn more about our properties for sale in Panama….

Firm Cites Growth in Panama as Reason for New Office

The second-largest lobbying firm in New York is opening a new company in Panama….

Patricia Lynch, a NY-based lobbyist, has partnered with the Sosas, a Panamanian family, to open Lynch Sosa & Associates. Partner Juan Sosa is the former Panamanian ambassador to the U.S. His son will also be joining the business.

Lynch’s office chose Panama due to the strong growth that continues to take place in Panama. Her office claims:

“It’s like a place that’s got the best of the Caribbean and Latin America, while also having a lot of American connections. It’s a great place to do business”, adding that their clientele consists of “a combination of Panamanian folks wanting to explore New York markets, and the second part is New York and American firms wanting to have a Latin American presence”.

This marks founder Patricia Lynch’s first overseas venture. The firm will be located in Panama City. The office has been planned for the last year. Advantages of maintaining a Panamanian office include that it is in the same time zone as New York, uses the dollar as its primary currency, uses English commonly, and has labor costs, real estate prices and taxes that are much lower than in other countries.

Are you interested in Panama from a business or residential perspective? Check out panama-land-for-sale.com to see properties for sale in Panama. Visit panama-land-for-sale.com to see residential, land and business listings for sale in Panama.

Development to Continue in Panama City

Hotelsmag.com has just profiled Panama City in an article called “Panama: Hotel Hot Spot” and claims that Panama City is “the new business hub of the Americas” due to its positioning between North and South Americas.

Many are claiming that Panama will compete with Costa Rica in terms of development as local developers have stated that they are not slowing down on development projects. There are currently 19 different hotel projects in development for over 4000 rooms, including Nikki Beach, Renaissance, Westin and Le Meridien projects.

In Panama, banking and hospitality industries have remained solid and there are also tax incentives to encourage hotel and tourism development. It was recently announced that the port of Colon will also now be a home port for Royal Caribbean cruise line.

The tourism council of Panama is looking to attract the European market in the next few years, as over 200,000 visited the country in 2008. For full details on Panama’s growth, click here to read the entire Hotelsmag.com article.

Are you looking to invest in Panama? Visit our site as a resource. Panama-land-for-sale.com features many properties for sale near Panama City and Colon!

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!

More Development in Panama

A new, $1.5 billion Panamanian development is underway, according to a representative of the project.

La Estrella reports that the Isla Saboga Project is moving aggressively ahead, despite the current beleagured economy. According to Armel Gonzalez Mauhs, the representative of the project, the company is investing roughly $20 million and taking necessary measures to set up a proper infrastructure that includes water, road and sewer systems. By doing so, the company believes it will attract established property developers.

The new development will be environmentally-friendly and is described as “an island paradise that will have hotels, restaurants, houses, condominiums, spas, a marina, a yacht club, a country club and a beach club”.

The development in Panama has stretched to the beaches, mountains and jungles. New projects are indicative that the growth is still to be had in Panama!! Check out our ocean view and mountain view properties for sale at panama-land-for-sale.com! Learn about moving or retiring to Panama!

Loan to Benefit Panamanian Growth

It was announced last week that the Panamanian government has created a $1.1 billion fund that it expects to eased the credit crisis and to boost investment as the world faces a global economic crisis.

Panama President Martin Torrijos stated that the fund will “grant Panamanians low-cost loans to buy homes and expand businesses”. 

Financing of the new fund, which will come in the form of a loan, is being handled by the Inter-American Development Bank, Andean Development Corp, and National Bank of Panama.  The National Bank – one of two state banks – will oversee the project.  Torrijos called the loan a “preventive measure”.

The fund is a result of a three-month investigation of how the U.S. economic slowdown will affect Panama’s economy.  The Panama Canal is currently the key route for trade between Asia and the eastern U.S.

Panama is still expecting significant growth in the next few years!  Visit panama-land-for-sale.com to see properties and land for sale in Panama!!

Resources Being Utilized to Make Panama Safer...

It was announced last week that the countries of Colombia, Mexico, Guatemala and Panama have formed an alliance against organized crime.

The countries have created an alliance of resources and intelligence in order to combat organized crime and drug trafficking, as the four countries are the main subjects in drug smuggling to the U.S.  The ultimate goal is for the Latin American countries to have a shared database that is connected to each country.

The leaders of the four countries met in Panama City in order to discuss drug smuggling and the cartels that enable the practice.  According to the AP, the countries “will share intelligence, strategies and technical information to fight criminal activities including drugs, human trafficking, money laundering and terrorism”. 

It is projected that the sharing of information will benefit each of the countries against drug smuggling operations and other criminal activity. 

Panama City, Panama is becoming a safer, international city.  Are you interested in relocating or retiring to Panama?  Visit panama-land-for-sale.com as a resource for information and properties for sale in Panama!

Panama Growth May Stumble, Will Survive Ultimately

ThinkPanama.com has reported that amid global recession and financial plague, Panama will persevere….

Currently, Panama’s economy has not really been affected by the global recession. However, with more condos to be released onto the market, there will be a number of ‘distressed sellers’ in 2009.

However, the site also claims that there will be another wave of buyers coming to Panama. Many expect young, international buyers as well as companies that will be coming to Panama to set up global operations. Many will be drawn to the nature and the tropical weather, others will be drawn to he fact that Panama City is an international city that is one of the most globalized countries in Latin America since the Panama Canal expansion. 2009 is expected to deliver 3-4% in economic growth…..

Come experience real estate in Panama!!! Visit our site at panama-land-for-sale.com in order to view the properties we have for sale!! Use our site as a resource for information about retiring or moving to Panama!!

Panama Growth Incredible for Properties

Last week, Martin Torrijos, the Panamanian President had an interview with Bloomberg Television, and stated that Panama’s growth should maintain the same high levels of growth and jobs amid the worldwide economic crisis.

It is expected that Panama’s economy will grow between 6.5% and 8% in 2009 and 9% in 2008. President Torrijos also affirmed that the U.S. recession will not affect the $5.2 billion Panama Canal expansion project.

Torrijos stated “If there’s any country that has an advantage that will make the crisis the least traumatic possible, it’s Panama”.

Panama has signed an agreement with 5 overseas banks that will be financing the Canal’s expansion. The banks include Japan Bank for International Cooperation, European Investment Bank, Inter-American Development Bank, World Bank’s International Finance Corp. and Andean Development Corp.

The article has cited that roughly 27% of the world’s container ships are too large for the Canal, which can rise to 37% within the next three years. The Canal is due for completion by 2014.

Panama’s growth is nothing short of incredible!!! Visit our site at www.panama-land-for-sale.com to see our incredible properties for sale in Panama!