| Economic Panama | | | | 8th in doing business across borders and 28th in |
| Panama's economy has been growing for years and | | | | getting credit for doing business. Within the Western |
| continues to grow during a worldwide recession. | | | | Hemisphere Panama ranks 11th overall out of 31 |
| Investment in commercial real estate has paid great | | | | countries. Those interested in buying selling real estate |
| dividends for a decade or more and promises to | | | | in Panama should note that Panama ranks 75th in |
| continue to do so for decades to come. Only the high | | | | registering property. |
| end of the housing market really suffered recently and | | | | Business in Panama and Panama Real Estate |
| that presents opportunities going forward. | | | | Investment |
| | | | Panama is the country at the South end of Central |
| Panama is a tropical country bordered by two oceans. | | | | America. As the narrowest spot in the Americas it is |
| The central mountains of Panama range from 1,000 to | | | | the location of the Panama Canal which connects |
| 11,000 feet. Therefore the climate in Panama varies | | | | Atlantic and Pacific. Panama's central location between |
| from hot and humid in the rain forests to hot, sunny, | | | | North and South America makes Panama a |
| and breezy on the coasts. In the highlands | | | | transportation hub and a place for investment in |
| temperatures can drop into the low fifties at night and | | | | transportation, repackaging and reshipping, and light |
| daytime highs are often not more than 80 degrees. | | | | assembly of parts. Panama has been doing business in |
| The Panama climate includes two seasons, wet and | | | | oil transshipment since the building of Alaska pipeline |
| dry. The "summer" dry season coincides with North | | | | and the need to move that crude oil to US gulf coast |
| American winter which is a great deal for tourists from | | | | refineries. Panama may soon be doing business in |
| the North. | | | | refining oil near the deep water port at Puerto |
| Historic Panama | | | | Armuellas. The Colon Free Trade Zone has been |
| A walk through the United Nations World Heritage | | | | doing business in receiving, repackaging, and resending |
| Sites at Panama Viejo and Casco Antiguo will give | | | | container shipments for years. It is said that 40% of |
| you a glimpse into Panama's history as part of the | | | | South American bound container shipments pass |
| Spanish colonial empire. The old Panama was the first | | | | through the Panama Canal. |
| European settlement on the Pacific Coast of the | | | | Doing business in Panama can be quite profitable. |
| Americas in 1519. In much more recent times Panama | | | | Doing business in any foreign country can present |
| was governed by military dictators for much of the | | | | problems for the unwary. The best way to avoid |
| 20th century. It is only since the ouster of Manuel | | | | dealing with business paperwork and employees in |
| Noriega in 1989 that Panama abolished its army and | | | | Panama may well be investment in companies which |
| has made steady progress as a democracy with a | | | | buy, develop, lease, and sell real estate. Your |
| head for business. | | | | investment in Panama real estate will grow year by |
| Panama Culture | | | | year and as Panama's economy moves on your |
| Panama's heritage shows through even the hustle and | | | | returns on investment will grow. As someone else |
| bustle of life in modern day Panama City. A typical | | | | stands in line to do paperwork you can walk on one of |
| work week is from Monday to mid day Saturday, | | | | Panama's many beaches. Let someone else deal with |
| eight, ten or twelve hour days. Sundays on the other | | | | the paperwork while your investment grows with |
| hand are sacrosanct and for the family. There is a | | | | Panama's economy and the recovery of the high end |
| belief that working hard, taking care of your family, and | | | | of the real estate market. |
| following your beliefs will suffice to make things work | | | | The Cinta Costera Project |
| out. There is little "type A personality" perpetual worry | | | | In late 2007 Panama began the long awaited |
| in this world of "tranquilo." Even in dire circumstances | | | | construction of a coastal strip along Avenida Balboa, |
| there is a sense of the rightness of things and faith in | | | | the main avenue on the Bay of Panama. This is the |
| a good outcome. When your taxi driver crosses | | | | Cinta Costera project in Panama. Heavy equipment |
| himself as you drive past a church gives you hint as to | | | | moved in, fences went up and men went to work |
| the source of this faith. | | | | dumping rock and gravel along the shoreline. Almost a |
| Panama Daily Life | | | | year later storm sewers were extended out to the |
| North Americans will find that Panama uses dollar bills | | | | bay and the bay filled in for a hundred yards from the |
| as currency and that English is widely spoken. The city | | | | old shoreline. The job was finished in the summer of |
| has malls comparable to those in North America and | | | | 2009. The combination green strip and highway |
| grocery store aisle signs are in English as well as | | | | improvement has exceeded expectations. Families |
| Spanish. There are discounts of up to 25% on | | | | walk along the seawall in the evening and on |
| everything from medicines to household good for | | | | weekends. Traffic no longer snarls up along the bay. |
| residents aged 55 and on up. | | | | Panama Projects |
| Living in Panama | | | | The Cinta Costera is not the only construction project |
| Panama has an interesting capital city with first world | | | | in town. Despite the world economic crisis Panama's |
| services and Panama has a slower paced interior | | | | construction boom goes on unabated. The locks for |
| where life has moved slower for centuries. The same | | | | the "third land" of the canal will go under construction in |
| seas that the conquistadors saw lap at Panama's | | | | July. Unlike the USA there are not any closed down |
| shores waiting for your footprints. | | | | construction projects lacking construction loans. People |
| Doing Business in Panama | | | | are still working, paying bills, and buying real estate. |
| Panama's small business community is thriving, | | | | Panama real estate is still a great investment. In fact, |
| especially since improved credit laws have helped as | | | | as the high end of the real estate market has dipped, |
| many as 300,000 small businesses get credit more | | | | this is probably the time to look for a deal on that 30th |
| easily. Commercial real estate offers great | | | | floor condo on the Bay of Panama overlooking the the |
| opportunities for the wise such as construction and | | | | last of the Cinta Costera construction. For investment |
| leasing of office, retail, and warehouse space. | | | | opportunities buying into repossessed mortgages on |
| The World Bank Group's Doing Business website | | | | brand new houses and apartments may be the best |
| ranks countries for ease of doing business. Panama | | | | deal ever as the housing market recovers. |
| ranks 81st out of 181 economies ranked. Panama ranks | | | | |