I have talked often about the virtues of investing in Panama Real Estate with vigor and enthusiasm, because after just one visit, you’re hooked for life. There are just so many things that attract people from the world over to this small but diverse country. There is so much to do and see, that it can boggle the mind. You can visit lush rain forests, see desert areas of the country, explore wonderful national parks, climb mountains, go rafting on raging rivers, trek to the black sand beaches of the Pacific, the menu is virtually endless.

Just a short drive from the capital, Panama City, you can find vast jungles with no roads, where Jaguars and Pumas roam free, see 940 documented bird species, and 105 species that are endangered, such as the Central American Tapir, as well as the Speckled Bear. Interestingly because of its size, you can be big game fishing and diving in the morning on the Carribean side of the country and be swimming in the Pacific Ocean in the afternoon. And no trip to Panama is complete without a dinner at the classy restaurant at the Miraflores Locks, where you can view the eighth wonder of the world, the Panama Canal.

The country is a haven for retiring Americans as well as Europeans, who cannot afford to fully retire in the United States. The cost of living is extremely inexpensive, compared to other parts of the globe. Taxes are moderate, with no real estate taxes on new construction for 20 years.

There are just so many interesting things to do in Panama, that you could literally write a book.

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I have long liked the country of Panama and currently have been working with a top developer down there regarding real estate projects that he is building. The country fascinates me from a variety of different standpoints, not the least of which Panama is fast becoming a retirement haven, especially for Americans who realistically cannot afford to retire in the United States.

For those yearning for a cosmopolitan lifestyle, Panama City the capital of Panama, now ranks as one of the top 5 places to retire in the world. It is a diverse mix of old world barios, blending with the brand new high rises springing out of the ground dotting the city landscape. Certainly because of the lengthy American presence with regard to the canal, the infrastructure is excellent, unlike Costa Rica for example.

There are wonderful perks for the retiree who can document a monthly income of $500 through the “pensionado program”. The city offers a multitude of things to do, and with the investment presence of Johns Hopkins and the like, has a wonderful healthcare system.

Panama City can best be described as cosmopolitan, yet extremely affordable.

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With the huge influx of foreign investing in Panama, including manay Americans who find Panama a paradise to retire to for substantially less than other places around the globe, it would seem prudent to discuss the banking policies regarding financing real estate. You may find that there are areas in Panama where the local banks do not finance real estate for foreigners and you may have to seek a bank in Panama City that does.

While banks in Panama have very similar rates, terms and conditions as those in the United States, there are striking differences regarding the application process. Here at home in Naples, Florida, we are used to going to a bank and having them run our credit report electronically, in order to find out what we actually qualify for in terms of financing. It is all done through our social security number, and can be done in a matter of a few minutes.

In Panama, the bank’s primary focus is on your current ability to re-pay the loan, rather than past credit history. They are interested in all your income sources and require extensive documentation regarding such. They also want you to prove the value of the property, which will again require documentation.

The key. like a boy scout, is to be totally prepared. That way you can speed up the loan process, which can take a great amount of time.

Here is a checklist of the important things that you should have to begin the process:

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I recently returned from an exploratory trip to Panama, where I spent a full week investigating why the country of Panama was absolutely on fire with people from all over Europe and the United States buying property. In that short amount of time, I learned a great deal about the country and its people, as well as the reasons that make this literally the ‘hottest’ country on earth for investing. Panama is currently experiencing a steady stream of Americans who are retiring and living full time there. The reasons are many, not the least of which is the very low cost of living. Here are some of the other reasons that makes Panama an attractive investment:

• Panama is fast becoming one of the world’s top retirement destinations and also a world class tourist location.
• The American dollar is the currency of trade, making it easy for everyone. English is the second spoken language, with many Panamianians speaking it fluently.
• The cost of housing is quite inexpensive compared the United States, and if you purchase new, there are no tax implications for 20 years and a host of other financial retirement incentives. 
• Medical services are excellent, with Johns Hopkins making a major investment in their state-of-the-art facility in Panama City.
• With the signing of the Free-Trade Agreement, 5.25 Billion dollars will be spent on the widening of the Panama Canal, which will help in creating an even more thriving economy.
• Unlike its neighbor, Costa Rica, Panama has a good solid US style infrastructure. The roads are excellent, with many having been built by the Americans, when they controlled the Canal.
• Panama has a perfect location for every taste; from a cosmopolitan capital city to palm fringed black sand beaches, cool mountain climates and tropical rainforest resorts.

We are currently working closely with one of the major developers in Panama City, as well as the rainforest area of Boquete. They have seven high-rise projects underway in Panama City, with The Grand Tower directly adjacent to Donald Trump’s Tower & Casino, his first Latin American investment. Please look for additional information on our website in the coming weeks, with direct links to our exciting Panamian projects.

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