Panama Real Estate

Click Here to view a short presentation on Panama!

Facts About Panama

• Panama is slightly smaller than South Carolina with a total area of 30,193 Square Miles.
• The population is just over 3 million.
• Panama is divided into 9 provinces- Bocas del Toro, Chiriqui, Co-cle, Colon, Darien, Herrera, Los Santos, Panama, Veraguas & 1 territory San Blas: Kuna Yala.
• It has a Constitutional Democracy (Republic of Panama) Government.
• Panama borders both the Caribbean Sea & Pacific Ocean and is located between Costa Rica & Colombia.
• A valid passport & tourist card issued by air carrier or place of entry are required to enter the country.
• The US Army Corps of Engineers built the Panama Canal between 1904 and 1914.
• The Panama Railroad was the most expensive railroad ever built, taking 5 years & costing 8 million dollars.
• Panama has no military.
• Panama is 2.5 hours from Miami.
• Panama has the second largest number of Offshore-registered companies (Hong Kong has first).
• A taxi fare in Panama City should cost between $1.50 & $2.75 and it is not customary to tip your driver.
• Transfers between the Tocumen International Airport & Panama City usually costs between $20 & $30 each way.
• Unlike its neighbors, hurricanes or earthquakes do not torment Panama.
• A full-time, live-In maid costs about $200/month, for 8 hours per day, 5 full days per week (Mon-Fri) and 4 hours on Saturdays.
• This includes all the cooking & cleaning.
• Colon Free Zone is located in Colon & is the largest duty free zone in the Western Hemisphere and the second largest in the world to Hong Kong.
• During colonial times, Panama was the financial center for Europe's gold & silver industry.
• It is suspected that the Portobello Bay (near Isla Grande) contains one of Christopher Columbus' ships, and at least 20 other shipwrecks.
• It is also the resting place of Sir Francis Drake.
• Panama beer is available for as low as $0.50 a bottle.
• Invest $200,000 (US) in any Titled Property & you may qualify for Panamanian Residency through the "Self-Economic Solvency Visa" program.
• Panama City ranks among the top five places in the world for an "inexpensive" retirement according to InternationalLiving.com.
• Panama's currency is the Balboa & has been equally exchanged for the US dollar since 1904.
• The Panamanian Government implemented (Aug. 1997) "Decree Law #9" which provides fantastic Incentives to anyone interested in developing, investing or restoring/renovating in Panama City's historic district, "Casco Viejo".