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Panama |
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There is a reason why numerous travel publications have rated Panama the number one second home and retirement destination in the world! More than its famous and important Canal, Panama is Latin America’s paradise. Its excellent weather, diverse ecosystem, breathtaking beaches, high standard of living and truly affordable real estate make it an ideal place to invest in and establish a second home.Due to its proximity to the equator, Panama does not suffer from the frequent hurricanes (or any other natural catastrophes) that plague its neighbouring Caribbean and southern US coasts. Panama’s weather is separated by two seasons, the dry (or summer season), which lasts between the months of December and April, and the wet (or winter season) for the remainder of the year. Temperature variations across different regions of the country are present primarily due to their altitude and proximity to the ocean. Panama’s economy registers its greatest economic growth in five years, growing from 6.4% in 2006 to 11.2% in 2007. According to Reuters, Panama is one of Latin America’s fastest-growing economies, spurred by increased canal traffic, a booming construction sector, buoyant banks and increased exports of tropical fruit. The Canal Expansion, a USD$5.25 billion project is aimed at doubling the capacity of the canal and attracting an incredible 40,000 jobs during the estimated timeline of seven to eight years. With the U.S. dollar circulating as legal tender since 1904, Panama’s economic stability provides very low inflation rates and virtually no currency fluctuations. Panama is one of the most secure international offshore centres in the world. The Panama Stock Exchange is one of the fastest growing in the region. Panama has developed a successful and Hi- End international “Banking Centre” in Latin America, with more than 85 banks from 35 countries. Panama also has transparency and security standards worthy of a First-World service. Panama has the best retiree benefits plan in the world and also an investor-friendly government. Doing business in Panama is a pleasure because many in Panama’s entrepreneurial class are US-educated starting with President Martin Torrijos himself and his top officials. Some of the benefits for retirees: 50% off entertainment including movies, concerts, theatre etc.(a regular movie ticket costs $4 - the retiree price is $2.) 25% off restaurants 50% off hotel accommodations 30% off bus, boat and train fares 25% off domestic and international airline tickets 10% off prescription medicines (much cheaper than US prices to begin with) 15% off dental and eye exams 50% off closing costs for home loans Foreigners who purchase property in Panama enjoy all the same rights as Panamanians. Unlike other countries, in Panama foreigners who buy property enjoy all the same rights and protections as Panamanians.
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CALL US: +44 (0)20 8960 1010
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