A Panama Guide

Panama is the heaven in earth. Throughout the history, sailors from around the world came to the beautiful island for business, trade, relax and living.

The earliest known inhabitants of Panama were the Cuevas and the Cocle tribes, but they were decimated by disease and fighting when the Spanish arrived in the 1500s. Rodrigo de Bastidas, sailing westward from Venezuela in 1501 in search of gold, was the first European to explore the Isthmus of Panama. Then a year later, Christopher Columbus visited the Isthmus and established a short-lived settlement in the Darien.

For around 300 years, Panama was under Spanish rule. The time was 1538 to 1821. Invaded by the Spanish in the 16th century for gold, saw its fortunes ebb as the Spanish empire progressed into its territory. After 1821, Columbia took control of Panama. Panama got its independence from Columbia in 1903.

Panama is widely famous for its canal, which is an engineering marvel and one of the most important trade routes on earth. Seeing a huge ship sail through the narrow canal, with huge jungles on both sides, is a wonderful sight. The Panama Canal is known as the 8th wonder of the world.

People say that the name ‘Panama’ comes from an Indian word meaning ‘land of Many fish, birds and butterflies’, others believe it stems from the Kuna Indian phrase “panna mai”. Panama Stretches east and west for 400 miles, connecting South and Central America. It varies in width from 30 to 120 miles, on the north are the Caribbean Sea and the Pacific Ocean on the south. Some 400,000 gold rushers en route to California crossed here.

In 1984 General Manuel Noriega became the president of Panama, he was the former Head of Panama’s secret police before that. Drug trafficking, money laundering, political murders were rampant during his tenure. These activities attracted US sanctions against the countries.

In the 1989 presidential election, Panama witnessed some unexpected events. The winning candidate was beaten and shown on national TV, the election was declared void, and Manueal Noriega’s government became an embarrassment. He then appointed himself as head of government on Dec 15th 1989 and declared war with the USA.

The very next day a US soldier was killed by Panamanian soldiers- as claimed by the pentagon. The US was waiting for months to attack and this was more than sufficient to call in 25,000 US troops. This operation was known as ‘Operation just cause’. The aim of the US invasion was to bring Noriega to justice and create democracy suited towards US government interests. He was captured soon and convicted for money laundering charges, and served a prison sentence in Florida. France is looking to trial him next.

Guillermo Endara, was the winner of the 1989 presidential election, but was ineffective in governing the country and his popularity declined rapidly and was voted out of office in 1994. One of the fairest elections in Panama’s history was held in 1994 and Ernesto P`erez Balladares was elected. He is implementing privatization, and improving infrastructure, education and healthcare.

The present ruler is Martin Torrijos, who was elected on September 1st 2004. Panama is now has a stable country with a high economic growth rate.

Retiring means setting your mind free from job-related concerns, relaxing, controlling you own time, doing things that you hardly do while still at work, or just spending amount on leisure and health. As you think of these concerns, you surely want to find a place that would suit such relaxing mood.

Panama has been tagged as one of the good places to retire based on International Living. Panama is appointed as having the best program and facilities for retirees. With such compliments and recommendations, you can’t help but to wonder what are the benefits in Panama as paradise for retirees.

Panama as paradise for retirees offers the best retirement programs to foreigners. The government made various tourism programs that include retirement programs that create Panama as paradise for retirees. Under the Retiree and the Pensionado Program, the foreigner will be entitled to several discounts from services such as food, healthcare, public services, entertainment, and goods in Panama. The foreigner should be able to get a Tourist Pensionado Visa. The requirements include receiving pensions from the government or a private entity of your country; the following pension needs to be received per month at a minimum of $500 dollars for singles and $100 dollar per dependants and some other requirements at consideration of the Panamanian Migration Department.

Aside from the discounts that you can get as a retiree, one of the benefits is that the properties that you can get in Panama are affordable. Real estate in Panama has boomed in the recent years. More and more investors come to put their money Panama property because they appreciate easily. As such, investors can easily sell the property or use it for business opportunities.

Now that the budget is at hand with available discounts and the affordable prices, Panama as paradise for retiree is just beginning to make you feel comfortable. Properties are affordable and are located in places that give you stunning views. You can choose to retire on properties that are near its magnificent beaches. Or you can find a good location in the mountainside in the Panama highlands. Or simply within its modernized city.

Panama as paradise for retiree offers properties on beachfronts. Beaches start from 50 miles off the city and can be seen at the Caribbean side or in the Pacific Ocean. Basically, the beaches are still uncrowded so you can still choose locations that are suitable for your relaxation.

Panama as paradise for retiree also offers properties in mountainside. Properties in this side are much cooler that at the beach side but it offers the same fun atmosphere as on the beach. Here you can see wonderful natural landscapes and Panama’s flora and fauna.

Finally, the city life has also something fun and exciting to offer. With its skylines and high technology cable, telephone and internet, retirees can enjoy the city life of Panama. There are nightlife and entertainment from which you can enjoy throughout your retired days.

Traveling in Panama is an exciting adventure filled with surprises, sights and sounds in every place. As an industrialized country promoting ecotourism, you can go to places by foot, land, sea, and air. Travelling in Panama is as convenient as modern transportation allows and as exotic as the locales. But first, it is important to know the country, its people, and its culture. So, read and research first so as not commit faux pas during your travels, which can be costly and fatal, too.

Travelling in Panama by land is generally safe as the roads, traffic and transportation systems are maintained in good order. Buses and taxis are numerous and charge relatively cheap fares, ranging from 50¢ to $5 depending on the location and distance. However, driving in Panama City can be demanding due to dense traffic, as is usually the case in urban centers. As in the US, traffic moves on the right and seatbelts are required. Also, flooding during the rainy season can make city streets impassable, in addition to the traffic caused by carnivals and parades especially in the interior portion of Panama. Travelling in Panama also requires good knowledge of conversational Spanish and English to communicate yourself to officers manning roadblocks, and to ask directions to your destination especially in the rural areas. Having an experienced guide and driver with you is a definite advantage. The Pan-American Highway is a real treat for travelers as it is well-maintained, has plenty of gas and rest stops along the way, and is surrounded by lush rainforest. However, as with travelling in any country, personal precautions must be exercised. In addition to asphalt concrete roads, Panama has an extensive rail transport system that carries both cargoes and passengers, and is the first transcontinental railroad in the Americas. It is a sight to behold and a ride to enjoy.

Travelling in Panama via the Panama Canal is an even more impressive ride. Cruise ships cross the Canal from Atlantic to Pacific and vice-versa and encounter amazing sights and sounds on both sides. The rainforest and its wildlife and the locks themselves are spectacular and continue to awe travelers. Boat rides are also available for residents and tourists alike, traversing the archipelago in all shapes and forms. Travelling by air in Panama is no less enjoyable. With 27 public and 41 private airports, two regional airlines – Aeroperlas and AirPanama, and dozens of international flights coming into the country, travelling in Panama is best done by air. And as the Government of Panama’s Civil Aviation Authority is assessed as complying with international aviation safety standards, you have the assurance that Panama’s air carrier operations are functioning properly.

As with any travel done anywhere in the world, travelling in Panama requires that personal precautions must be taken. Familiarize yourself with the conditions of the area that could affect your health, like altitude, pollution, flora and fauna that could cause allergy and poisoning, required vaccinations, preventive medicines and medical facilities. Safety concerns should include personal safety on the streets, in the hotel, in public transportation, and in public buildings. Also, inquire from your embassies the high-risk areas in the country and plan your itinerary accordingly.

With knowledge of the country and its culture, an adventurous spirit, and a sense of self-preservation, you are good to go to explore Panama. El viajar feliz en Panamá!

To Americans, the beautiful sandy beaches and relaxing golf resorts that stretch over all parts of Florida have grown to be practically synonymous with retirement over the past few decades. But today, as more and more retirees are exploring alternative retirement destinations, many are discovering the beauty and opportunity that lie in the flourishing South American country of Panama. The low cost of living, contemporary infrastructure, affordable Panama real estate and stable economy make Panama a desirable destination for retiring Americans. Gracious and welcoming Panamanian people and the use of the U.S. dollar for currency make Panama a natural choice for American retirees seeking a truly unique yet inviting home away from home.

The low cost of living in Panama as compared to that in most parts of the United States makes this thriving country an especially attractive destination for retirees. American retirees are able to uphold a higher standard of living in Panama than they would with the same resources in the United States. The costs of housing construction, food and groceries, medical expenses and transportation are generally lower across the board in Panama. The U.S. dollar goes noticeably further in Panama than in the states, but Panama also offers special incentives for retirees that make living in the country even more affordable. Retirees are eligible for perks including widespread discounts, property tax incentives and tax free importing of household goods and vehicles.

Panama offers most modern conveniences to which retiring Americans are generally accustomed. Internet, cable television and cellular phone access are available in most places. The quality of shopping is also highly regarded in Panama, and most U.S. good are available. Banking and medical care are also modernized. Panama has one of the most stable economies in Latin America, and the Panama Canal generates a consistent stream of revenue for the country. With a multibillion dollar canal expansion that will bring more jobs to the area planned in coming years, the economy is showing no signs of slowing anytime soon.

One cannot discuss retirement in Panama without pointing out the manifest natural beauty all over that makes so many people fall in love with the country in the first place. Cool mountain climates, pristine beaches and lush vegetation abound in Panama. Panama has a suitable environment for every type of retiree, from city dwellers seeking a downtown condo in the center of activity to those seeking a beach escape from everything and everyone.

Travelling to Panama property can be one of the best vacations that you are taking in your life. Travelling to Panama is easy and simple. Panama real estate is growing massively. As a result of this many investors are flying down to Panama property for many reasons. This has caused the major cities in the world to be connected to Panama.  Every ship that is travelling from the eastern side of the American continent to the western side or vice versa must pass through the Panama Canal. This makes this country an extremely important stop point in the world navigation chart. Therefore it can be taken for grated that every boat that is travelling from coast to coast will get you to Panama. This canal has also caused significant development in Panama property. The canal plays host to more than 12000 ships per year. There are many property developers who are today busy developing Panama property. The tourists can enjoy many local delicacies that are available in the restaurants. The weather is another reason why you should choose to go to Panama for your vacation. The weather remains warm and sunny and is not cold and at the same time not hot either. This makes weather an ideal time for activities like surfing, jet skiing or swimming. These are the few of the activities that you can do while you are on your vacation in Panama. There are many people who are looking to settle down in Panama property, some of them looking for jobs and some of them looking for retirement. The government also encourages this trend and offers many incentives for people to settle down in Panama property.
 
The tourists can enjoy many local delicacies that are available in the restaurants. The weather is another reason why you should choose to go to Panama property for your vacation. The weather remains warm and sunny and is not cold and at the same time not hot either. This makes weather an ideal time for activities like surfing, jet skiing or swimming. These are the few of the activities that you can do while you are on your vacation in Panama property. If you do not like the beaches then there are mountains that are there to please you. The beautiful mountains play host to a number of adventure activities that you can do to fulfill your thirst for adventure. These would include trekking, river rafting etc.  All this makes for the rapid development of tourism in the country. The future of Panama real estate aims towards being a property of a complete first world country. The economy of the country is sound and the citizens are happy. This leads a way to the countries progress towards which it is marching forward to. With more and more people looking to invest here it is becoming a well developed nation. Communication to the other countries in the world as well as travelling to those countries is easy and simple and you do not have to put much though into it. All you need is a good travel agent and the enthusiasm to travel.

Real estate in Panama is a booming industry. It is an industry propelled by the right combination of tropical weather and diverse landscapes, favorable business environment, a politically stable and democratic government, safe environs, and a cosmopolitan people. This boom is not just happening in Panama City, real estate in Panama is becoming more attractive from Bocas del Toro and Colon Beaches. Indeed, Panama combines the soothing beauty of Mother Nature and the exciting lifestyle of Modern Man.

Bordered on its sides by the Pacific Ocean and the Caribbean Sea, Panama experiences alternating periods of rainy seasons and dry seasons throughout the year. The variety of climactic conditions in Panama has enabled the country to offer a variety of outdoor activities from land to sea from sun bathing to jet skiing, from hiking to diving, from bird watching to hang gliding. The landscapes are diverse ranging from lush forests to bustling metropolises, from wide plains to high mountains, and from flat land to rolling sea, offering a wide variety of sceneries to choose from. Also, the country is almost natural disaster-free, which makes real estate in Panama doubly attractive to investors. Real estate in Panama is cheaper than those offered in the region including Costa Rica, the Dominican Republic, Bahamas, Mexico City, Buenos Aires, Sao Paolo, Mexico City, and Rio de Janeiro but at the same quality. Due to the dollarized economy and the low cost of living, a U.S. dollar buys more than it would in the United States, especially with U.S. recession. With the Investment Stability Law providing for 100% foreign ownership, tax exemptions and the absence of heavy business restrictions paving the way for lower costs of property development, multinational companies are expected to relocate to Panama thus increasing the demand for residential and office spaces to accommodate these new entrants. Lower property development costs would, in turn, result to lower real estate prices in the market.

Panama has a low crime rate, making it as one of the safest countries in the region particularly from terrorism. It has a politically stable and democratic government committed to promoting Panama as an international business center, second only to Hong Kong and as an international finance center second only to Switzerland. Thus, real estate in Panama is not only protected from natural disasters, it is also protected from volatile national security concerns, market movements, and asset confiscation. As purchasing real estate in Panama involves getting a residency visa, people buy property in Panama because of the ease with which one can get a Panamanian visa. There is the Retired Tourist visa, the Self-Economic Solvency visa, and the Small Business Investor Visa, among the numerous visas issued by Panama. With all the advantages such as tropical climate, favorable business environment, lower cost of living affording a better quality of life, tax freedom, stable society and government, and warm and friendly people, it comes as no surprise that Panama is a booming country with a rapidly growing real estate industry.

There are few places in the world where the eco-tourist can view the ecological wonders that result from the melding of two large continents and the molding of the land by the world’s two biggest oceans. There’s only one such place — Panama. It is no surprise that the respected Forbes Magazine cited Panama as the best eco-tourism destination for 2007.

Panama is the narrow isthmus that connects the Americas. That is easy enough to remember, but people tend to forget that Panama is also that fragile strip of land that separates the Pacific Ocean from the Atlantic Ocean (by way of the Caribbean Sea).

Nature and Wildlife

Off the waters of Panama, you can watch whales cavorting along the Golfo de Chiriqui, or snorkel among the colorful coral reefs on either ocean. Small as it is, there are over 1,500 islands in Panama, each with its own stretch of white-sand beaches. You have the chance to watch four species of sea turtle nesting on the country’s beaches and wetlands. Panama’s marine and aquatic life is so rich that they have evoked comparisons with the Galapagos Islands further south.

There are many national parks that you can visit for every ecological habitat you’d like to see. The mountains along the spine of Panama have their beguiling charms. You can hike through cloud-covered forests or swim in chilly mountain streams. If you feel adventurous enough, you can trek up Volcan Baru, the highest peak in Panama, and get a really unique experience: seeing, at the same time, the two largest oceans and the two largest continents at your feet.

Its jungles are among the least explored areas in the world. They offer a visual treat for the eco-tourist. In the country’s 500 rivers and 22,000 square kilometers of rain forest, there are 940 bird species and 125 animal species unique to Panama. If you’re lucky, you may get to see some of them.

What Else to Do

Panama offers you the colonial ruins and fortifications that once defended old Panama, Spain’s capital in the New World. You can check out the many fortresses along the Caribbean coast. Find time to attend the colorful festivals in the towns, where the Spanish legacy continues.

Dinner and a night on the town will make a good beginning or ending to your trip in the wilds. There are fine restaurants in Panama City to tickle every palate, quiet cafes overlooking the bay and the city, and nightclubs to while the night away.

Best Time to Go

It really depends on your plans. The peak tourist season corresponds with the dry season on the Pacific side, which is between mid-December and mid-April. The weather is mostly sunny in Panama City and places south of the Continental Divide during these months. On the Caribbean side to the north, the rains come all year-round. There is relatively less rain February to March and September to October.

If you want some serious hiking, trekking in the national parks, or taking in the beaches, the dry season between December and January may be the best time. But remember, that hotel prices and airfares will be higher during this period.

Planning Your Trip

Because of the ecological diversity in Panama, one gets tempted to spontaneous adventures. But it is good to make plans before you go to maximize your eco-tourism thrills. Some destinations are very popular and you will need reservations. Bocas de Toros is the country’s top destination. You need to reserve flights early if you wish to go to the islands of Comarca de Kuna Yala. There is only one carrier that flies to the archipelago.

A visit to remote Parque Nacional Darien would give you the best views of Nature in the tropics, but you will also need to book lodgings way in advance. The same arrangements are necessary for a visit to the Smithsonian Institution’s Tropical Research Institute on the Isla Barro Colorado.

Panama is an eclectic city that can accommodate any budget. There are many budget accommodations and inexpensive eating places. There are also five-star lodges with seascape views and charming B&B hideaways.

Panama banks are part of Panama’s International Banking Center, the most modern and most successful in all of Latin America. It is only a single step comparing behind Switzerland. Panama banks number more than 100 banks operating in more than 300 offices from more than 32 countries all over the world. Major banks include those from Argentina, Bahamas, Bolivia, Brazil, Canada, Cayman Islands, Colombia, Costa Rica, China, Dominican Republic, Ecuador, France, Hong Kong, India, Korea, Israel, Japan, Spain, Switzerland, Taiwan, The Netherlands, United Kingdom, United States of America, and Venezuela. Indeed, Panama banks represent a wide spectrum of banks from Asia, Europe, and the Americas, resulting in a modern and effective banking system.

During the last two decades, Panama banks have experienced significant growth both in numbers and in transactions. As of December 1995, the International Banking Center surpassed more than US$ 33 million in assets, representing an impressive 3 percent growth. Aside from the brisk business Panama banks conduct, they likewise provide direct employment for 10,000 people. If banking allied services are to be included in this figure then Panama banks provide for thousands of indirect employment.

Panama banks offer very attractive interest rates on its deposits, from 6.5 percent up annually. However, these rates are subject to changes depending on the international interest rates and the bank’s specific policies. As many Panama banks transact business on the international level, most of them will offer online banking. All Panama banks use state-of-the-art security systems on their online facilities. Cash ATM machines are also available in numerous locations in the country. These favorable conditions have contributed to the rising reputation of Panama as a secure offshore destination for investors and non-investors alike.

Panama banks that engage in offshore banking follow the guidelines of the Basle Committee on Banking Supervision. As such, they have one of the strictest banking and financial secrecy laws available in the world, possibly second just to Switzerland. You are provided with legal protection to your assets and your identity. Panama banks are not havens for money launderers as banking guidelines also prevent criminal banking activity. In fact, making substantial cash deposits to open an account is a warning flag for banks. These have resulted in a highly competitive, extremely confidential, well monitored, and highly secure offshore banking industry.

Indeed, Panama banks are part of the best business infrastructure in Latin America and in the Caribbean. In fact, a strong banking system is essential towards supporting a rapidly expanding economy that has outpaced its neighbors. With the US dollar as the official currency since 1904, there are no conversion or valuation concerns (Panama is the only country that has the exclusive right to use the U.S. Dollar as its par-value currency). This makes it easier for Panama banks to transact business with the rest of the international community. With the free flow of capital, an attractive monetary policy and a favorable legal environment, coupled with its geographic location and the growth of international markets, Panama banks continue to contribute to the republic’s development as an international finance center.

Panama, a country in Central America, is divided into 11 cities in which there are numerous casinos. The only types of gambling that are legal in Panama are horse racing, pari-mutuel betting, and casinos. The majority of the Panama casinos and gambling facilities are located downtown in Panama City, with 22 of the total 36 in the country.

The largest casino in Panama City is the Casino Majestic, with over 53,000 square feet of gambling space. The Majestic, open 24 hours seven days a week, features 39 table games and 978 gaming machines, video poker and slots. Among the other popular casinos located in Panama City are in the Hotel Caesar Park, the Miramar Intercontinental, and the Hotel El Panama. The Crown Casino in the Caesar Park Hotel is in a prime location, central to the business district and the historic attractions of old Panama. The Crown Casino features table games of baccarat, blackjack, Caribbean Stud poker, Draw Poker, roulette, and craps, but no gaming machines. The Fiesta Casino in the El Panama has a great atmosphere, with 320 gaming machines and 16 table games of blackjack, roulette, poker, and baccarat. There are several other smaller casinos in Panama City, with gaming machines and a few table games, such as the Casino International, the Fiesta in the Gran Hotel Soloy, and the casino in the Riande Granada Hotel.

A fairly recent addition to the lineup of Panama casinos is the Veneto Hotel and Casino, a Vegas-style gambling facility, also in Panama City. The Veneto is perhaps the largest Panama casino with 40,000 square feet that includes 511 slots and 42 table games such as blackjack, Texas Hold’em and other poker, roulette, mini-baccarat, and craps.

Other Panama casinos can be found in cities such as Chiriqui, with two casinos; the larger of the two is the Casino Dorado with 318 slots and video poker machines and no table games. Other Panama casinos include the Casino Chitre in the Hotel Barcelo Guayacanes in the city of Herrera and the Gran David in Chorrera. The Hotel Washington Fiesta Casino in Colon has nine table games and 93 slots. In addition, the Hotel Royal Decameron Costa Blanca in Farallon has a casino with 50 slots and seven table games.

International investors continue to recognize the potential of further Panama casino development, especially with the proposed widening of the Panama Canal.

Panama-not just a vacation destination anymore. A new generation of Americans plan to retire here:

Folks who’ve discovered Florida’s Emerald Coast pretty much believe they’ve happened upon paradise.

And who can argue?

The beaches; the other-worldly hued water; the temperate climate..

But Chester Kroeger, Destin resident and former city councilman, and the founder of wildly popular Fudpucker’s restaurants, says he’s been hit by lightening a second time. He’s found another paradise – And who would believe it – it’s Panama.

“A friend of mine told me he was going to vacation in Panama, and I said ‘why?’” Kroeger said.

“I’d never considered going there.”

But his friend was effusive about the bountiful and unspoiled beauties to be found there, so a-month-and-a-half later, Kroeger made the trek.

“We flew into Panama, and I expected a third world scenario, but it wasn’t-Panama City’s very cosmopolitan,” he said.

One of the many attractive travel features of Panama is its easy access.

There are direct flights to Panama City from Miami, Orlando, Atlanta, Houston, Los Angeles, New York and Newark.

Panama has two climates: the lowlands, which include Panama City, are humid and tropical. Temperatures typically range from 80 to 90 degrees during the day.

The highlands’ temperature usually ranges from about 45 to 85 degrees during the day.

In itself, Panama City is a great place to begin explorations. The city abounds in examples of fine mid-20th Century architecture. Not to be missed are the historical ruins of Old Panama and Casa Viejo, the old town, where you’ll find a wonderful collection of buildings that date from the 17th Century. Some say it’s reminiscent of old New Orleans.

Panama also is home to seven living Indian populations, with their own unique traditions and cultures.

No trip to Panama is complete without a visit to the Panama Canal zone. Located just minutes from Panama City, the area’s lush rainforest is part of the Soberania National Park – protected from development because it serves as the watershed for the Canal.

These are some of the most accessible rainforests in the world, and worth a trip to Panama in itself.

Kayaking, fishing and bird-watching are among popular activities.

Other national parks, located near Panama City, include Barro Colorado, Monkey Island, and Pipeline Road. Still others are Plantation Road, Achiote Road, Amistad, Pearl Islands, Darien, Coiba and Bocas del Toro.

Wildlife viewing is some of the best in