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Luxury and dream properties in Panama


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Frequently Asked Questions about Panama


Investments


  • What are the rental price ranges in the city (1-2 furnished rooms)?


  • Punta Pacifica $1,300-$3,500
  • Balboa Avenue $1,200-$3,200
  • San Francisco $1,200-$2,500
  • Obarrio $1,000-$2,000


Personal


  • Why Panama and not another country?

    Panama is considered one of the safest countries in all of South and Central America. Panamanians are very friendly and welcoming, and foreigners living in Panama will tell you that they feel very safe and that street crime is rare. In 2013, Panama recorded a GDP increase of 5.57 percent, a figure that will be repeated in 2014, according to Trading Economics. However, forecasts for 2015 and 2016 are much higher, at just over 9 percent. The International Monetary Fund is even more optimistic, estimating that this year's GDP growth will be 6.9 percent, the highest in all of Latin America. According to BBVA Research, the main driver of the economy will be investment, coupled with private consumption, driven by record-low unemployment, which was 2.9 percent in both 2013 and 2014, the lowest in the region.

  • What is the currency in Panama?

    Throughout Panama, the accepted and accepted currency is the US dollar. In many places, the dollar is called the balboa, but its value is the same.

  • What is the weather like in Panama?

    Panama has two main seasons: the summer season, characterized by bright sunshine, cool breezes, and very little rain, runs from mid-December to mid-April. Afterward, the rainy season slowly begins, with three or four showers per week. As the month progresses, so does the rainfall. By September, you can expect rain almost every day for some time during the day.

  • How far is the airport from the city?

    Tocumen International Airport is just 15-20 minutes from downtown Panama City.

  • What are the schools like?

    There are several national and international schools throughout Panama City. Among the international or English-speaking schools are Balboa Academy, Metropolitan School, Knightsbridge International, Boston School, and the International School of Panama (ISP). Their curricula vary, as do their admissions processes, but all accept foreigners living in Panama as first-time applicants. All schools also offer comprehensive after-school programs and sports programs for all ages.

  • Is it difficult to obtain residency?

  • Panama, unlike many other countries, is encouraging foreigners to come to Panama and settle there. As in any other Latin American or Caribbean country, all paperwork-related matters here take time and patience. It's helpful to have a lawyer familiar with the bureaucracy, but it will still take time. There are eight main options for obtaining residency, all with different costs and requirements:
  • Retirement Visa
  • Friendly Country Visa
  • Professional Work Visa
  • Reforestation Investor Visa
  • Self-Employed Visa
  • Business Investor Visa
  • Married to a Panamanian Citizen
  • Visa for Parents of a Child Born in Panama

Reasons for

Investing in luxury properties in Panama

Panama Canal

The Panama Canal currently generates an average of $2 billion in revenue each year, providing a solid foundation for the country's economy and attracting multinational companies from around the world. The Panama Canal is currently undergoing a $5.2 billion expansion, representing significant foreign investment. Once the expansion is complete, revenue is expected to double to $5 billion annually. The expansion is scheduled for completion in 2015.

Banking

Panama is the largest offshore banking center in the world after Switzerland, often called the Switzerland of the Americas. Panama is an international banking center that includes more than 80 banking institutions. Panamanian banks have collective assets exceeding US$75 billion.

Infrastructure

The government plans to spend US$13.6 billion on infrastructure and social programs through 2014. The Panamanian government has earmarked and begun spending US$2 billion for an overhaul of Panama City's public transportation system, including an underground metro line currently under construction and scheduled to begin operations by the end of 2013. Tocumen International Airport in Panama City is undergoing expansion to accommodate 40 percent more traffic. Construction has already begun on a new international airport in Río Hato. This airport will provide international flights to Panama's major beach destinations and resorts. Panama's major port operators are investing more than US$300 million to improve port infrastructure. Panama benefits from five major submarine telecommunications circuits that crisscross the country. Additional Megaprojects: Several major oil refinery projects have also been proposed, and if approved, these projects total more than US$10 billion in investments. Investors in Panama are currently involved in telecommunications and hydroelectric projects worth US$7.2 billion. Panama is poised to become the world's second-largest copper producer.

Tourism

Panama has the highest tourism growth rate in Latin America. Panama has attracted and continues to attract many of the world's most recognized hotel brands, such as Trump Ocean Club, Hilton, Waldorf Astoria, and the Ritz-Carlton. Panama recently opened a homeport for major cruise lines, such as Royal Caribbean and the Spanish cruise line Pullmantur. Forbes magazine ranks Panama #4 in the world for tourist destinations. Johns Hopkins Hospital is a leader in medical tourism in Panama.

Colon Free Zone

The Colón Free Zone is the largest free zone in the world after Hong Kong. More than 2,500 companies operate within the Colón Free Zone. The Free Zone handles more than $16 billion in imports and exports each year and is expected to increase productivity by 7% each year over the next decade. The Colón Free Zone employs more than 28,000 people, with the best-trained bilingual workforce in Central America.

Economy

Panama routinely earns the highest investment ranking in Latin America, along with Brazil and Chile. Panama averaged annual growth of 8 percent between 2000 and 2012, the fastest pace in Latin America. Panama's economy continued to grow during the global recession. Panama's economy is expected to grow at an average annual rate of more than 5 percent through 2015; one of the highest projections in the world.

Plan your new management in Panama

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Investor Visa (Golden Visa)

Panama offers permanent residency to individuals who make a minimum investment in Panama, including the purchase of real estate. The Red Carpet Visa (Panama Investor Visa), introduced in 2020, is simple, easy, and provides all the benefits of residency. Best of all, you can start the application from your own country, and the entire process can take as little as 30 days. The easiest way to obtain the visa is to invest a minimum of $500,000 in the purchase of real estate in Panama, although for a limited time, the threshold for purchasing a property can be as low as $300,000. The property can be new, existing, or even pre-construction. Alternatively, you can also invest $500,000 in the Panamanian stock market, whether in stocks, bonds, or other securities, or you can establish a minimum term deposit of $750,000 in a Panamanian bank. The government requires the applicant to maintain the investment in Panama for a minimum of five years. Once you obtain a permanent residence visa, you will enjoy all the rights and privileges of Panamanian citizens. You will no longer need to leave and re-enter the country to maintain your current visa.

Retirement

Panama's retirement visa program is widely recognized as one of the most generous and attractive in the world. The renowned pension program makes it easy and cost-effective to adapt to the idyllic lifestyle offered by Panama's natural beauty and beaches. One of the best advantages of Panama's retirement visa program is its simplicity. There are no conditions, and benefits begin immediately. And once you've adjusted to life in Panama, benefits are available daily. How does it work? Anyone over the age of 18 can participate in the program. The only requirement is that you must be able to demonstrate a minimum monthly income of US$1,000. This income must come from a government program such as Social Security or a pension from a private corporation. The monthly pension requirement is reduced to US$750 per month if you purchase real estate in Panama worth at least US$100,000. That's it! Beyond the pension, the only real requirement for a “Pensionado” visa in Panama is that you retire in Panama and not work. It's that simple! Once approved, the pensioner visa allows you to live in the country permanently, with most of the same benefits as any citizen. The visa also offers a wide range of deals and discounts, including tax exemption for imported household goods. It also offers discounts of between 10 and 50 percent on flights, utilities, hotels, restaurants, healthcare, and other services throughout Panama.

Mortgages

Uncover Panama Real Estate specializes in residential financing for non-residents of Panama, helping you navigate one of the most complex aspects. Our mortgage financing experts are highly trained professionals who speak several languages. We are not only well-versed in the intricacies of lending institutions, but we also continually stay abreast of an ever-changing market. With hundreds of banks in Panama, the loan application process can be tedious and complicated. Our primary goal is to secure you the best possible rate and ensure your investment is well-positioned and secure for the future. Uncover Panama Real Estate's finance specialist will be by your side every step of the way, acting as a liaison between you and the lender, ensuring the process moves as smoothly as possible. We will advise you at every stage of the process and provide appropriate advice. We review all documents and submit them on your behalf. You will be informed of every step of your investment process with peace of mind and confidence.

Sell condominium with us

Uncover Panama Real Estate is home to a worldwide sales network, working with a strong base of investors interested in Panama's most unparalleled neighborhood. We have a proven track record of connecting sellers and buyers. Our team has handled many property transactions in Panama, thanks to our international connections, local ties, and focus on maximizing investments. We don't just advertise your property; we market it. With buyers spread across the globe, our marketing strategies must be aggressive to reach the target audience. We expose your property to high-end investors and buyers through a variety of efficient and cost-effective systems, including email marketing to reach potential buyers and tenants, targeted social media, and digital marketing. At the same time, we are firmly rooted in Panama, with strong ties to the community, giving us the resources to effectively market your property in the local market. Our clients are typically educated investors, well-paid professionals, and retirees from around the world, accustomed to a well-off lifestyle. They are active in Panama and participate in the fastest-growing economy in the region. Panama is a natural location, a coveted neighborhood for discerning individuals and families accustomed to living in high-end neighborhoods. We can deliver this audience to you, our valued client. We know that our best advertising campaign is satisfied customers. Our ambition is for your experience to be positive and achieve the best results.