Reasons to Live and Invest in Panama

By: Rolando A. Guevara Alvarado, Esq.

From a standpoint of a local viewer with experience of living abroad, in a nutshell, I personally consider the following as the more attractive reasons to live and invest in real estate in Panama;

Panama has a unique geographical position, and it is blessed from suffering natural disasters such as hurricanes, tornados and earthquakes.
The US dollar as legal currency, which eliminates exchange risks to foreign companies that wish to relocate in Panama.
A state policy of fostering and encouraging foreigners to purchase and develop real estate in our country.
The safety of living and political stability, well known among the countries of the region.
A perfect tropical climate with temperatures all year around.
A state-of-the-art communication system allowing local and worldwide calls to be made very rapidly.
Even though Spanish is the official language in Panama, English is widely spoken and understood being a strategic place for call centers from renowned international firms.
Panama has the most successful and sophisticated international banking center in Latin America.
Despite the price increase due to this booming, property in Panama remains a fraction of what one would pay for a similar real estate in the United States.
Ongoing restoration n Panama City’s historic “Casco Viejo” bringing the attention of foreigners eager to get a piece of this World Heritage site declared by the United Nations in 1997, tied with interesting real estate and tax incentives.
According to statistics, our country has experienced less than 2% inflation increase for more than 30 years.
Panama is an excellent spot for a second home or for retirees especially for US citizens and many Europeans, due to its great package of retiree incentives and benefits.
Home ownership in Panama is actually at unbeatable prices.
Foreigners have access to get low interest rate on real estate loans with local banks, same as nationals.
There is exemption of Panama property taxes for new constructions.
Taxes are not levied upon residents on foreign – earned income.
A steady increase in the construction of American style homes in luxurious neighborhoods that foreigners consider highly affordable as compared to their own countries.
The Panama Canal and Canal related activities. The current government is conducting the process of widening the Panama Canal, expected to be a mega project which will attract investors from all over the world.
Excellent medical care facilities and health services; i.e, Panama is the location abroad of the John Hopkins International Medical Center.
Policy of equal treatment for local and foreign investors in terms of trade and industry and same rights for import and export.
First class bilingual schools, with the existence of well known international schools.
Low cost of living in: rent, service utilities, transportation, amenities, food, etc.
It is like being in heaven for shoppers who want to buy automobiles, electronic appliances, computers, and clothing.
Affordable full time / live-in- maids and domestic workers who help improving your quality of lifestyle.
Last but not least, the warm welcome that Panamanians give to foreigners.

Therefore, with this opening of a new era and worldwide attention, it is not surprising for me to listen every day more, that “Panama is no longer one of the best kept secrets in the Americas.” I pray that it will be for good.

Khalaro Investments is willing to assist you in every aspect related to the real estate and investments in Panama. Contact us now for more information.

Reasons to Live and Invest in Panama

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