Why To Invest In Panama
PANAMA IS SAFE
Panama has the highest rating for tourist safety from the prestigious Pinkerton Intelligence Agency.
PANAMA IS TOURIST FRIENDLY
English is spoken as a second language and the Panamanian people are among the friendliest in the world.
PANAMA HAS A GREAT VARIETY OF ATTRACTIONS ALL IN CLOSE PROXIMITY.
Easy-to-get-to exotic tropical rainforests, beautiful mountain refuges, Caribbean style beaches, seven living Indian cultures, a Miami-style capital city, historical sites, diving, rafting, golf, sport fishing not to mention that 8th wonder of the world and engineering marvel – the Panama Canal.
PANAMA IS THE BEST PLACE FOR ECOTOURISM TODAY
Panama has the most accessible pristine rainforests in the world. As a narrow land bridge connecting two continents it has some of the world’s most bio-diverse rainforests. National parks cover five million acres and a key indicator of its biodiversity is that Panama has 954 recorded bird species, more than the US and Canada combined.
PANAMA HAS A WIDE SELECTION OF BEACHES AND ISLAND VENUES
With tow coasts and more than a thousand islands, there is much to choose from for beach vacations from full service resorts to exotic island retreats.
PANAMA HAS THE US DOLLAR AS IT’S CURRENCY
The dollar is Panama’s currency, which is a great convenience. No need to change money or to puzzle over what that meal just cost.
PANAMA HAS A FIRST-WORLD INFRASTRUCTURE
Panama has a first – world infrastructure including a US style capital city with high speed internet, the second largest Free Trade Zone in the world, a banking sector with 90 banks, fist rate hotels and restaurants and shopping almost on a par with the United Satates. The highway infrastructure, medical care, and business services are excellent. Even the tap water is safe to drink, a rarity in Latin America.
PANAMA IS CLOSE
As part of Central America, Panama is just a short plane ride away. Six major US cities have direct daily flights to Panama City: Los Angeles, New York, Newark, Miami, Houston, Atlanta and Olrlando.
PANAMA IS WORLD CLASS FOR ADVENTURE
Canopy, trekking, rappelling, sea kayacking and surfing are world-class experiences for the hard and soft adventure seeker. International experts rave about river running in Panama, including rafting and kayaking. There are rivers where you can ride 20 sets of rapids in one afternoon.
PANAMA: THE AFFORDABLE EXOTIC DESTINATION
Because Panama has just begun to promote itself as a tourist destination, its prices are some of the best in the market.
PANAMA HAS WORLDCLASS SPORTFISHING, DIVING AND SAILING
One place in Panama, Piñas Bay, holds 250 world fishing records. You can choose from seven excellent diving areas: Coiba National Park, the Pearl Islands, Isla Iguana, Bocas del Toro Archipielago, Portobelo and for historical diving the Panama Canal. Panama is also famous as a yacht destination.
PANAMA HAS NO HURRICANES OR MAJOR EARTHQUAKES
Panama is even blessed by nature. It is the only country in Central America that is absolutely hurricane-free. Panama also has none of the destructive earthquakes that plague its Central American neighbors. Your Panama vacation will never have to be rescheduled due to natural events. Your property investment will always be safe.
PANAMA –THE SMART CHOICE FOR CONVENTIONS AND INCENTIVE TRAVEL
Panama City is a sophisticated and safe city with an unbeatable variety of nearby activities including golf, sport fishing, rainforest adventures, Indian village tours, scuba diving,
The Republic of Panama is located in the occidental hemisphere, uniting Central and South America and its government system is democratic and representative. Endowed with a privileged geographic position which constitutes its main natural resource, Panama has become an important aerial hub, with daily connections with the main destinations of the region and the world. The Panama Canal, its renowned international banking center with approximately one hundred important local and international banks, its service, business and commerce structures its modern port facilities both on the Atlantic and Pacific oceans, the Colon Free Zone which is the second largest free zone in the world, and its economy based on trade, financial services, tourism and agriculture, make of Panama an ideal commercial operations center and an attractive tourist and residential destination for national and foreigners. Spanish is its official language, but English is widely used.
Today, Panama and its Panama Canal have succeeded in attracting the world interest, becoming a tourist, financial and investment center for the whole world. Thanks to the dedication and effort for being a country that offers benefits for all, there is stability in its democratic policy. There is no central bank since 1930, being the Dollar the legal currency, and for that reason there are no devaluations. Panama has offered the lowest inflation rate in the hemisphere in the last 50 years, even lower than that of the United Status of America. Likewise, it is one of the most important centers of incorporation of companies in the world, with law firms having international offices. This has led us to maintain one of the most stable financial banking centers in the world, with more than 70 local and international banks with more than 35 billions in assets, with an ample monetary and credit base which is supported by the free use of the Dollar. It has more than one hundred national and international banks, whose assets exceed 35 billion dollars. exceed 35 billion dollars.
- In 2005 it had a GDP growth of 6.4%.
- In 2006 the estimated growth of the GDP is 6.2%.
- In 2005 the per capita GDP registered an increase of 4.5% with respect to 2004.
- In 2005 the unemployment rate passed from 12.5% to 9.6%.
- The estimated population of Panama is 3.2 million (2005).
- The city of Panama has 1.6 million inhabitants.
- At present, Panama has an economy with a very good performance, supported on the development of the service sector.
We have a Colon Free Zone, which is the second largest after Hong Kong; it has an area of more than 400 hectares of extension, 45 hectares for industrial zones. There are more than 1000 companies established and it has a commercial activity exceeding 10 billion dollars per year. In the year 2005, the National Port System moved 38 million metric tons, with a growth of 5.2% with respect to the year 2005. The movement of containers involved 2.8 million TEU´s in the year 2005, 14.8% more compared to the year 2004. A new mega port is to be constructed on the Pacific.
The Panama Canal
Since December 31, 1999 the Panama Canal passed to Panamanian hands. More than 5% of the world trade passes through the Panama Canal. The Canal is approximately 80 kilometers long uniting the Pacific and Atlantic oceans. It takes between 8 and 12 hours crossing it. Every day ships from all over the world cross the Canal, in 2004, 14,096 ships crossed, paying a total of $767 millions. By the end of 2005 nearly 17,000 ships had crossed the Canal, breaking historic records and under excellent safety standards. Today, the Canal has $1,250 millions a year in earnings and profits of $500 millions. At this time, the Panama Canal operates at 93% of its capacity, with the widening and expansion of the Canal; a third set of locks will be constructed. They will allow the passage of postpanamamax ships.
Incentives for Retirees
We are considered one of the countries offering the most appeals to retirees at the World level, with a fiscal incentive plan and pensioners programs offering them 50% discounts in land and air transportation, cinemas, medicines, restaurants, purchases among others. Many international publications in magazines of renowned acceptance such as FortuneMagazine, Newsweek,and the NewYorkTimes, etc, refer to Panama as the dream paradise for retirees and pensioners from the whole world.
The qualification of the bulletin of the AARP (American Association of Retirees) which has considered Panama as one of the 4 best places in the world t olive outside of the United Status. We also have the qualification from the International Living which has stated that Panama is one of the best places in the world to live outside of the United States.
Other benefits that we can find in Panama and which give it a higher value to your investment for housing are that the country has paradisiacal and pristine locations such as white sand beaches, woods, flora, fauna, dense forests, mountain, islands, rivers, lakes, exclusive places for retirees, the Panama Canal, historic sites such as the Metropolitan Cathedral, the National Theater, the Presidential Palace, The Museum of Religious Art, the Museum Reyna Torres de Araúz, the Museum of Natural Sciences, the Museum of the Panama Canal, ecotourist sites such as the International Park La Amistad and National Park Volcán Barú,etc.