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Come experience Panama with its wonderful wide range of tropical landscapes including pristine beaches, rain forests, cloud forests, and jungles with over 900 species of birds, 1500 species of trees and over 7000 vascular plants. Without a doubt, Panama is a real tropical paradise for nature lovers and outdoor adventurers.
Panama, officially the Republic of Panama is found in the southernmost portion of Central America bordering Costa Rica to the north west and Colombia to the south east; and where land meets sea, the Caribbean Sea, the Pacific Ocean, and the Gulf of Panama. The Atlantic Ocean via the Caribbean Sea connects to the Pacific by the historic Panama Canal. Panama’s coastal shores rise up to 11401ft (3475 meters) above sea level. The Capital city, Panama City is found at the mouth of the Panama Canal on the Pacific/Gulf of Panama coast.
There is a reason why consistently Panama has been rated the number one second home and retirement destination in the world. Apart from its world famous and noteworthy canal, Panama is unquestionably coming to be known as paradise. With a stable government and growing economy, a high standard and low cost of living, a diverse ecosystem, first class healthcare, modern infrastructure, a crime free society, world-class golfing, sailing, diving, rafting and fishing; and truly affordable real estate, along with government incentives to make owning that much more attractive, amidst excellent weather all year round…not to mention breathtaking beaches- well paradise if it is not here is right around the corner.
Apart from foreigners guaranteed the same rights as the local investor, Panama has some attractive incentive programs to encourage foreigner ownership. In fact, Panama has one of the lowest tariffs, property tax is exonerated on new construction between 10 to 20 years; no tax or government reporting is required on any foreign earned income; numerous programs are offered for immediate residency, visas and passports; foreign income that is not taxable in Panama and capital gains tax is set at only 10%.
For those who wish to retire in Panama, retirement visa requirements are nominal. The Panamanian Government has also created attractive benefits to encourage those retiring here such as no property taxes for 20 years; no income tax on incomes earned outside Panama; no tax on home furnishings if it is the retired person’s only property; exemptions from property tax if it is the retired person’s sole residence; discount of percentage points on interest rates for mortgages on housing; discount on the maximum interest rate on personal and commercial loans; and the “pensionado” program, that can cut people's cost of living virtually in half once the retire qualifies with proof of a U.S. retirement monthly income allowing the retiree discounts from 15% and 50% on hotels, restaurants, movies and many professional services. Further retiree incentives are household goods can be brought in to Panama tax free and new cars can be brought in duty free every two years. It is no wonder that for six consecutive years, Panama came out on top of International Livings Global Retirement Index.
And Panama is a safe country with its modern, American style infrastructure due to the near 100 year presence of the Americans in Panama with the Panama Canal until 1999. In fact Panama’s currency is the US dollar. Thus Panama’s has very low inflation rates and virtually no currency fluctuations. In fact, Panama has experienced a 2% inflation rate over the last 40 years, which is reflected in its taxes the government has kept at a minimum. Here you will also find high-band Internet connectivity, cellular phone networks and ADSL in-home phone capability, full-service satellite and cable TV and a cost of living index that is a fraction of the cost of most foreigners’ home land. It is amazing how the value of the dollar in Panama goes that much farther and the quality of living is that much higher.
In regards to purchasing real estate, real estate agents in Panama are required by law to have a professional license, issued by the Panamanian Real Estate Technical Board. This certification is given only to those who have resided in Panama for over 5 years pass and have satisfactorily passed the country’s professional examinations. Panama also has a sophisticated land registry system that makes verifying Panama property titles simple with a system very similar to that in North American & Europe. In Panama most properties are titled or can be titled, title insurance can be bought and traditional mortgages are available. Panama also has foreign investor protection laws that guarantee the standard rights of land ownership for foreigners.
The ideal diverse climate of Panama from its mountainous range with cooler temperatures to its lower sea levels, from the Pacific and the Caribbean Sea to The Panama Canal offers as much of a wide range of temperate temperatures as does its range in types of real estate; from waterfront and beachfront, to island, highland, mountainous, rainforest and agricultural to world-class architect master-planned communities. Panama is sure to delight and appeal no matter what you seek. And Panamas Mountains are close to the beach areas. So in Panama you can be in your home up in the mountains with beautiful views out to the ocean yet be within 15 minutes to the beach.
The ideal climate, to the idyllic diverse real estate options and low cost of Panama’s real estate market make Panama all so appealing but its backbone is its solid economy. Apart from the income generated from The Canal, the country is primarily service-based in commerce, tourism, trading and private industries and a banking metropolis of more than 100 banks with such International Banks as HSBC, Lloyds, and Citibank. Panama is a time-proven business center and also tax haven. There is NO tax on interest earned from bank accounts for either locals or foreigners and there are NO corporate or personal taxes on offshore monies. All this along with its key geographic location, its modern cities with skyscrapers, good night life, casinos and great shopping where luxury goods from the world over are available (and at least a third the price) make the transition to Panama easy what with all the luxuries and more of back home, all within one’s arm reach.
Panama can not be talked about without mention of its world altering Canal system; the infamous Panama Canal that opened in 1914 and spurred unprecedented major advancements in world trade; and made a momentous impact on Panama’s economy felt right to this day. Beginning in 2008, over the next six years, the Panamanian Government is investing $5.25 billion into the expansion of the Panama Canal to allow for supertanker access. The new canal will facilitate the transport of up to 50 percent wider ships of which have become widely used due to an upsurge in trade between the Americas and Asia. As the Panama Canal is a key feature in Panama's overall economy, this expansion will generate considerably more revenue for Panama. The anticipated completion will in fact coincide with the 100 year anniversary in 2014 of the Panama Canal and the celebration of over a million ships through its locks.
Getting to Panama is easy. It is accessible with direct flights from 10 major US hubs: Miami, Los Angeles, Houston, Orlando, Atlanta, Washington, D.C. Newark, New York and Ft. Lauderdale. Flight times from US cities range 4-5 hours and KLM flies direct from Amsterdam three times weekly.
Whether you want to be surrounded by the peaceful countryside, breathtaking ocean views or the bustling city life, there is a something for everyone looking to invest in Panama’s real estate. Casco Viejo the oldest city on the Pacific Coast , to La Palma in the Gulf of Mexico, to Panama City communities overlooking the Bay of Panama within residential areas such as Marbella, Paitilla, Coco del Mar, Punta Pacifica to those overlooking the Canal in Amador Heights, Balboa, Albrook and Clayton, to those in cooler climates of Chiriqui, El Valle, and Altos de Maria and the mountainous areas of Volcan, Altos del Maria, and Boquete, to the communities on the archipelago of the Caribbean Sea of Bocas de Toro and Porvenir or to the Pearl Islands in the Gulf of Panama.
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Price: $350 Description: THE CLIFF at Cupecoy is a prestigious, one of a kind vacation experience. Located on St. Maarten's Caribbean "Gold Coast", The Cliff at secluded Cupecoy Beach provides luxurious condominium ... MORE |
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