About Panama
Panama City has one of the best infrastructures in the area, being able to answer the highest demands. Having the highest per capita US investment in all of Latin America and one of the biggest banking systems of the world, the use of the US Dollar as legal currency, plus the fiscal facilities and the existence of an OFF SHORE regulation, plays a tremendous importance in attracting foreign investors.
With an average transit of 13,000 ships each year, the Panama Canal is an essential resource to world commerce and regional stability. Panama benefits from the canal’s financial resources and decided reputation while local businesses benefit from an international connectivity and proximity to substantial commerce. In addition to the benefits of the Panama Canal, which opened in 1914, this region of the world has offered vital services to global commerce and cultural exchange. Panama’s advantages include location, stable leadership, solid infrastructure, offshore tax savings and a dollar-based economy that fosters a 6 percent annual growth in gross domestic product and provides a world-class business and residential environment.
Our tropical weather, diverse geography ranging from mountains to beautiful beaches of both the Caribbean and Pacific coasts, which are only 30 kilometers apart from one another, accessible cost of living, government investment incentives, vast jungles contrasted with a booming metropolis and a wide cultural and ecological diversity is what makes Panama the perfect destination.
PANAMA BENEFITS
• Strategic geographical location for business
• Stable macroeconomic and political environment with a growing economy
• U.S. dollar-based marketplace
• World-class U.S.-grade communications and trading infrastructure, including five submarine fiber-optic links
• The strength of the Panama Canal
• Some of the most efficient and active ports in Latin America
• An international banking center including more than 80+ banking institutions
• A westernized economy
• High level of education relative to Latin America, and a bilingual workforce
• Cost of labor in line with Latin American average
• Panama City ranked the third-safest city in Central America
• Exemption from certain taxes or no taxes at all
• Equal rights and protections for property owners, regardless of nationality
• International Banking and Finance Center with legislation for trusts and foundations under private law widely recognized worldwide.
• It has modern facilities adjacent to the Panama Canal, available to establish Business Centers.
• The largest Latin America Port Hub, with 7 private ports on two oceans and the Aviation Hub of the Americas, with more than 134 daily flights to 45 destinations in 31 countries.
• Country in Latin America with greater credit access.
• Free from natural disasters.
• The Colon Free Zone and its world-class port status allows the easy access of electronics, automobiles, clothes and other imported items, available at reasonable prices.
• Due to its privileged geographical position, Panama is untouched by hurricanes or natural disasters, such as earthquakes
• There are no local taxes for residents on foreign earned income.
• Its highways, shopping malls, restaurants, modern airports and telecommunication systems are extensive and well maintained.
• Friendly people and the extensive knowledge of the English Language
RETIRE IN PANAMA
Panama was named in 2005 by "International Living" the best place to retire in the world. Panama City is one of the world’s least expensive first-world cities. Being a small city with extremely friendly, helpful people is what makes it easy and safe to get around.
Golf Courses, mountain communities, excellent and diverse restaurants offering all types of international cuisine, highways that take you from the Atlantic to the Pacific coast in no time, being these separated by only 30 kilometers, High-end Airport serving as an International Hub connecting the most important cities in the World, home to the best franchises and international companies, top-of-the-line telecommunication services, hospital and medical care nearly up to par with the United States, are many of the services Panama has to offer.
The Country´s geographical position and an all year round warm tropical weather is key to the many outdoor activities that can be practiced, such as eco-tourism, bird watching, golf, fishing, sailing etc…
Some of the benefits of retiring in Panama are:
• Importation of all your personal and household goods up to US$10,000 free of taxes.
• Right to import a car every two years free of taxes.
• 50% off closing costs for home loans.
• 25% off both international and domestic airline tickets.
• Discounts between 15% and 50% are offered on hotels, restaurants, movies, many professional services etc.
• 20% discount on doctor's bills, 15% on hospital services if no insurance applies.
• 15% off dental and eye exams.
• 10% discount on medicines.
• A very strong banking system with more than 100 international banks.
• Residents pay no tax on foreign earned income.
• Foreigners can buy and own property in Panama with the same rights and protections as Panamanians citizens.
• Retiree incentive program, the best in the world, is not necessarily age related and the benefits are considerable.
