Find in Panama

Tourism in Panama Need Some Boost Up

admin — Tue, 28 Apr 2009 17:34:14 +0000

Panama is situated in the southern part of the Central America. It is a small country but has a huge potentiality for tourism. Turquoise blue sea-water, virgin beaches, lush green forests – all make the country a paradise on earth. As everybody can well guess, Panama was getting much attention in the tourism sector. But all on a sudden, the prospect of tourism seems gloomy.
In 2007, Jorge Loazia, the President of Panama Hotel Association mentioned that most of the hotels in Panama are making large scale arrangements for accommodation of ever growing numbers of tourists. Most of the hotels were experiencing 98% occupancy in the week days which became 100% during the weekends. During the first four months in 2007, the total number of foreign tourists visited Panama was more than 390,000. It was 9.8% increase what they welcomed during the same period in 2006. More than 200 cruises ferried 28,000 tourists in the Panama.
But these promises have experienced a setback nowadays. The tourism department of the government of Panama cannot conceal the fact that the tourism industry has suffered from a blow from the beginning of this year. According to La Prensa, a leading internet information source about Panama, the air traffic became less 7.3 per cent in February and 4.4 per cent in March than that of previous year. This is the data collected from the regular flights from Guatemala, Panama City and Madrid operated by Iberia Airlines. The cumulative decline in number of incoming tourist volume is not officially available from the government of Panama. But it is well anticipated that the ratio will be more than 10 percent. According to the Association of Hotels in Panama, the hotel occupancy rate has decreased to 6-10 per cent during the same period. The President of Panamanian Association of Tour Operators, Ana Royo has commented that “May has always been a bad month, but this year is expected to be horrible.” The voice of the President of Chambers of Tourism of Panama, Jaime Campuzano also seconds the fact that the booking of hotel rooms, air travel and tours has taken a downward shift. Depending upon the total number of reservations made till now and the number of cancellation till date, it is presumed that the shortfall will be more dramatic during the last quarter of the year. MD of Pesantez Tours Enrique Pesantez observed that there has been greatest turndown of booking orders from Venezuela and Mexico and from whole of the Europe as well.
As an outfall of the global meltdown, tourism in Panama is also suffering from similar setback. Panama Canal is the main route for US bound ships. It also caters major portion of the export route from the US. But the canal has experienced 3.3 percent decline in tonnage transport 1.4 percent reduction in the numbers of ship during the first quarter of this year. Although the canal officials anticipated this decline, it hampered the tourism industry severely.
Most of the countries around the world have suffered from some degrees of global economic recession. Time has come for the hoteliers of Panama to build a modified and uniform plan of tourism

Real Estate - Warming Your Cold Feet

admin — Fri, 27 Mar 2009 22:59:09 +0000

In the action of acquiring properties in Panama, doubts have been raised by pessimists. These are not totally baseless. After all, an investment is an investment. Winning or losing it will spell a very big difference.
Certain questions are raised as regards property purchasing in Panama. Here are some answers:
As to whether a foreigner can own a property in Panama or not, the answer is yes. The acquisition of properties is a free market, see for exaple the real estate listings in Encuentra24.com. The steps involved are relatively very easy and thorough.
As to why Panama should be your choice, the answers vary, depending on your motive. The taxation system is just beneficial and the environment can be very much likened to paradise, suitable for people who seek retirement. All these taken into account, Panama is a top choice for both businessmen and settlers.
As to what is the economic and the political situation in Panama, the country holds the reputation of the fastest growing tourism market and economy. It stands third for economic competitiveness, with the most number of international banking offices. They also have the largest shipping registry. Finally, they rank second in free-trade.
Panama has also served as a second home for international brands. The country belongs to the top three best risk-investment hemispheres.
As to how to get to Panama, there are five available international airports. Several airline companies like American Airlines, Delta Airlines, Iberia Airlines, KLM, Virgin Atlantic and British Airways provide transport services to the country.
Finally, as to whether a visa is required to enter Panama, it greatly depends on the country from where you come from. Inquiries online and your local foreign affairs department may be helpful. Your nearest Consulate can provide you with details, prices and conditions that apply.
With these questions answered, certain doubts have, hopefully, been shed light on. While these answers may not alleviate the risks completely, they can serve as guides in making a sound choice.

A Closer Look at The Panama Coast

admin — Tue, 24 Mar 2009 22:29:22 +0000

You will discover many villages and little towns when you drive past the bridges, towards Panama Canal, then when you head along the highway. Along the way, you will get to see villages and little towns. You will then get to the interior of Panama and then the Gold Coast. In thirty minutes’ time, you will be able to find Malibu Beach and Gorgona Beach. In another hour, you will be led to roads heading towards the beaches, which will just take ten minutes, and to modern, commercial resorts.

For several years, the areas in Punto Barco, Coronado Beach, and other nearby beaches were the only developed places, since they were the primary attractions in the city. Now, foreigners are starting to travel to Panama ever since the development of Playa Blanca Resort and Decammeron Beach Club.
The progress was slow but within two to three years only, Panama has experienced a surge of growth with the construction of modern condominiums, apartment towers in beaches, golf courses, housing subdivisions, along with others. Most of the projects are in the construction stage, but there are more projects along the way, including Superclub Breezes, Hard Rock Hotel, and Wyndam Beach.

The Gold Coast, although not as progressive as Cancun is fast developing. It has several beautiful beaches, a warm community spirit, a jungle just a twenty-minute drive away, and developed roads and highways. It is also just one and a half-hour away from the airport and the city proper.
When you go to Punto Barco, Coronado, and still-developing beach places, you will rarely see single homes for families since such are quite expensive.
There are lands for commercial development but they are usually sold at an expensive price and in big proportions. There are also condominiums currently being developed, with an average cost of around two thousand dollars per square meter. Panama is a great place for real estate investment.
There are also medical clinics, shopping markets, restaurants, and home centers located just along highways to cater to new residents.
Developments for foreigners and city people are now being slowly put in place. Several communities along the highway are planned for big family homes. Unfortunately, these communities are not meant for the locals, since with their income of only three hundred per month, they could not afford the homes.
In the area, there are three golf courses, with two more that are currently developed. These golf courses all have condos, homes, and duplexes.
Although beaches in Panama are for the public, most of the beaches are accessible only through dirt roads and poor trails that is why some resorts have made private access to the beach front. The sand in the beaches is the dark, volcanic type in color and a bit rough in texture. The pleasant side of Panama beaches is that they have a spectacular view, warm water, and wonderful sunsets. The tide and location of the beaches are the primary factors why the beaches differ in width. For people who want to go small surfing, they can do so in the parts of Santa Clara and Gorgona Beach. For those who wish to enjoy large surfing, people may need to travel to the beach a couple of hours away.
In the beaches, local residents in the area are into fishing crabs, shrimps, and fishes. From the shore, you will be able to see islets from afar.
Prices of lands have constantly increased because of the demand from buyers not only from Panama but from other countries as well. There is no anticipation for decreases in the prices of Panama real estate because of the demand and supply.

Panama Privacy banking in exchange for thorough scrutiny

admin — Wed, 04 Feb 2009 04:07:26 +0000

Banking in Panama is very hard if you are not a native of the city, but once you are able to jump through all the hoops your accounts will stay very private. There are multiple kinds of banks available and it is important to realize some banks only do business with offshore accounts, some banks only do business with natives, and a few banks will work with both. Also understand that banks in Panama are not federally regulated so there is no bank insurance when you open a bank account. However, due to the amount of paperwork that is required to open an account, and the high level of privacy that banks offer in Panama, your money is pretty safe once it is deposited.
One of the reasons it is very hard to open a bank account in Panama is because of the high drug enforcement rates. The government and people work very hard to keep the company free of drugs and drug dealers; therefore they are very suspicious of outsiders trying to take advantage of their private banking system. To open an account one of the very first things you will need is proof of a substantial bank account balance in your home country and documentation showing where you obtained that money from. Panama banking authorities want to know exactly how you earned your money to ensure you are not involved in unlawful activities in another country that you may be attempting to bring into their country. Due to this fact, do not even consider trying to open an account with a large cash deposit, it will never be allowed.
In fact to open an account you are going to need proof of salary, a wire transfer from your home banking account, proof that you own a residence here, a cell and home phone number, and a multitude of references. Basically the natives only will open their arms to those who are choosing to call Panama a home; there is no medium for people dropping by. If you are planning on moving to Panama permanently, it is probably either best to hire a reputable lawyer from a large firm to represent you or wait until you obtain permanent residency in Panama.
On the bright side of things, due to the high privacy rules throughout Panama banks it is very unlikely any outside government or entity to which you have a current debt with will ever be able to access your bank account and seize your money. If there is a very good cause for an outside government to be able to cease your money and the law you violated is also part of Panama enforced law, than eventually your money could be taken away, but it would take a long time for all the necessary paperwork to be filled out by each prospective government in order for a private bank to allow the account to be accessed.
In conclusion, banking in Panama is a possibility for non-Natives, but if one is not planning to make Panama there permanent place of residency than it is not worth it to even try to transfer funds. The Panama bank system is built around a system that is very private, so if you can jump through all the requirements of the banks and the government it is possible to receive a bank account that is very secure and safe from outside creditor collections, but absolutely need to be able to prove the source of all your monetary assets and accounts. Finally, if you do decide to open an account in Panama hiring a lawyer will keep you safe and aid you with the long drawn out process.

Crime and law in Panama

admin — Wed, 04 Feb 2009 03:57:03 +0000

While traveling or living in Panama it is wise to be aware of the basics of crime and security since they are drastically different than those in Westernized countries. The city itself is much safer than most US cities because violent crimes and security levels are much higher in Panama as a natural evolution from the old days of United States occupation. Petty theft however is much more likely to occur since the poor in Panama are very poor and while they are not violent, they are hungry and desperately just trying to survive.
If you are planning to live in Panama you should not have to worry about breaking many laws accidently since law is not strongly enforced here since violent crimes are so uncommon.
However, there is one element of the law that you never want to get involved with, drug law. The Panama law authorities take drug violations very seriously so if you are a casual or even occasional recreational drug user this is not the country for you. Most of law enforcement agents are concentrated on prosecuting those who traffic or use drugs. If you are caught using, possessing, or trafficking drugs there will be severe consequences with no option for plea bargaining as in the United States. You will either spend a significant amount of time in jail and/or face a massive fine and exportation. Drugs are not something you want to be the slightest bit involved with if you plan to build a life in Panama.
As mentioned earlier, security levels are very high in Panama, higher than they really need to be given the low occurrence of non-drug related crime. This is because when the United States was occupying Panama all Americans were required to have bars on their windows and doors and many of the buildings still have them. It may look threatening and make Panama look like a threatening city, but it really is not. In fact, some of the buildings that non-Panama residents tend to live in have higher security measures than the highest level of living residents in New York City which has a much, much higher crime rate. So if you take the usual precautions as you would in any city, keep your valuables in a safe, travel with a partner after night, and be aware of your surroundings, you will be perfectly safe.
A prime reason why Panama police can be so concentrated on drug investigations is the low crime rate and because there are a few other laws here that are not highly enforced. For example, prostitution is legal and voluntarily keeps itself off the street. It is very unheard of to be approached by a prostitute unless you know where to look because the value system is so high. Teenagers are not dressed in rags nor have tattoos and colored hair. The natives enjoy quiet living and respectable appearances. Often times they enforce the law involuntarily by taking care of scammers and thieves by isolating them from society.
One final thought on Panama law that is sure to shock new visitors for a period time is the driving patterns of the natives. Although there are traffic laws, almost nobody follows them as traffic looks like a disaster waiting to happen. People drive at the speeds they choose turning in and out of traffic on their own whims. Tickets are occasionally handed out, but hardly anyone rarely follows the process as most people just give the officer the equivalent of US 10 dollars and continue on. It takes some getting used to, but the accident rates are much lower, so although it seems erratic, mutual respect for each other seems to make it work.

Panama: a retiree’s paradise on earth

admin — Sat, 02 Aug 2008 02:58:26 +0000

Panama is a hot spot for people looking to retire in a peaceful cultural environment who want to live out their golden years in peace and quiet. The city actually encourages retirees to come join their community from all over the world by offering special retiree visas to senior citizens 55 years of age or older and numerous senior citizen discounts throughout the community in almost all departments of their lives.

To get a retiree visa for Panama, one most have a monthly income of at least 500 dollars from a government or private pension fund, (or proof of a significant lump sum pension and the documents to support the source of income) a health certificate, and a clean police record. They are also required to sign a contract stating they will purchase Panamanian real estate to ensure their intentions are in accordance to the Panamanian retiree purposes. Additionally, if you own property in Panama you are granted protection and all the same rights by law as a Panamanian citizen. It is one of the few places that gives visa holders the same rights as citizens. It is pretty hard to find any other country so open to welcoming retirees, but Panamanian culture is built on respect and values and the people welcome and value the wisdom that comes from experience of the gray.

A good reason to consider Panama as a retirement destination is the fact the the health services in Panama are great. Not only there are reat Hospitals and Clinics, but also its quite easy to find a great dentist in panama. We used the people at PanamaDentalCenter.com and where quite satisfied.

To further entice retirees, Panamanian government offers standard discounts on transportation, medical bills, half price entertainment pricing (movies, theater, concerts etc.), restaurants, airline tickets, and half price discounts on closing costs for home loans. It almost seems too good to be true, but yet there are many retirees from all regions of the world residing in Panama so it must be real. Due to these great opportunities, Panama is an immigrant melting pot of all types of people including but not limited to Hindus, Americans, Canadians, British, Arabs, and Asians. As a result culturally the entertainment options and restaurant offerings are rich with portions of the town replicating mini countries across the world. There really is something for everyone across the world.

Out of all the countries represented in Panama, it most closely resembles American structure however since it was occupied by America in 1999. Only because of citizen’s high value system, it is a better America as the violent crime rate is drastically lower, the average pricing for goods is lower (despite the fact it uses the American dollar as its monetary currency), better high speed internet than the US (in the areas where it is functioning as it has not fully been extended everywhere yet) and a very strong private banking system that will protect your privacy and funds stringently. Even better yet, unlike the rest of Mexico, you can actually drink the tap water due to water filtration systems.

It reads almost like a paradise spot compared to the shaky state the rest of the world is in right now due to terrorism threats and overzealous political figures. There is a reason why Panama is so peaceful, it is because the government thoroughly inspects every visa applicant very thoroughly and requires many background checks and signed references from numerous authorities to ensure that any rift rat is kept out of the country. If anything suspicious is found in your records you will not be allowed to reside in the country. To some going through all the steps it takes to get into Panama may seem unworthy, but after taking a look at all the benefits offered to retirees it is hard to agree with that assumption.