Panama has become a choice location for the international business and investment communities, especially in the first decade of this century. In 2007, Panama business generated $2.6 billion in Foreign Direct Investment for sectors such as regional headquarters, banks, call centers, multimodal transport, real estate development, hospitals and more. Below we show you some of the reasons why living and doing business in Panama can be so easy for you.

Excellent Immigration and Other Incentive Programs

The first thing that you need to know is that, according to Panamanian law, foreigners have the same rights and obligations as the locals. So, taking that in consideration, it provides an obvious advantage over other Latin American countries. Also, in the Panama business system, you can find attractive tax incentives and flexible immigration programs like the Retired Tourist Visa or the Personal Economic Solvency Visa. You can take advantage of many Panama investment incentives like tax-free importation of all your personal and household goods, as well as discounts of 10%-50% on public services.

Political Stability

Panama has a stable democracy that includes a Supreme Court and Judicial, Executive, and Legislative branches of government modeled on the U.S. structure.

The Dollar as Legal Currency

Since 1904, the U.S. Dollar has been the legal currency in Panama so there are no currency conversion or acceptance issues to hinder your Panama business. The economic integration system that Panama has helps to ensure that the country consistently maintains one of the lowest inflation rates in the hemisphere - much lower than the U.S., for example. So, you can be sure you will get more for your money.

Having the dollar as currency, an open market for bank transactions, and credit and financial flow with no government restrictions makes for a beneficial platform in terms of Panama´s monetary issues. In reality, this is one reason why the economy is so stable - the macroeconomic balance sets aside financial distortions that other countries face every day.

Panama Globalization and the Improvement of Internal Infrastructure

By globalization we mean the involvement of Panama business in the rapidly emerging global community. Since Panama became independent in 1903, it has created and maintained entities such as the Panama Canal, the International Banking Center and the Colon Free Trade Zone. These and more have contributed to creating a very stable economy that grew by nearly 8% in 2007, where it´s safe to invest, do business or purchase Panama property.

Panama is advancing in the area of internal infrastructure needed to comply with all the investment and tourism that is coming to our country. New projects like the Coastal Beltway, modernization of the Tocumen International Airport, the Colon 2000 cruise-ship port and the new freeway that connects Panama City and Colon are some examples of things that will improve Panama as a investment, business, retirement and travel destination.

A Specialized Panama Banking and Insurance System

Since 1970, Panama has had an international banking system that works hand in hand with the insurance business here in Panama. We have many international banks that compete with the local ones, so you have a choice of banking services. As a foreigner, you can obtain accounts, credit cards, lines of credit and mortgages with less red tape and intrusion than in the U.S. and Europe. The same thing applies to insurance and Panama offers nearly all the modern options.

Purchasing Property in Panama by Incorporating a Company

You can form a Panama International Business Corporation [IBC] in order to purchase real estate or guard your assets offshore. Your offshore Panama corporation offers advantages like ownership secrecy, bearer shares and no personal liability. In comparison to other offshore domiciles, it is relatively easy to form a Panama corporation. Basic requirements include researching and supplying the name of the corporation, declaring the general purpose or purposes for which the corporation has been formed, as well as the initial capitalization. Once established, a Panama corporation can hold ownership of Panama real estate and, as such, presents a fantastic option for investment protection that is very safe and reliable for foreigners.

For All your Panama Real Estate, Investment and Lifestyle needs contact Douglas M. Choy  at ThinkPanama.com. They will be happy to provide any guidance and information you may need.