A natural link between the Caribbean Sea and the Pacific Ocean, Panama enjoys a great location. The country sits on a narrow strip of land called the Isthmus of Panama, which connects North and South America. This has had a big impact on its history, economy, and culture.
Panama has the Caribbean Sea on its north side and the Pacific Ocean on its south side, giving it a mix of different marine ecosystems and resources. Due to this, Panama has become an important player in global trade and shipping. The famous Panama Canal connects the Atlantic and Pacific Oceans. It lets ships go through instead of going around South America, which saves a lot of time and money.
Panama’s location also makes it close to other countries. Colombia is to the southeast, and the 2 countries have strong connections in terms of culture and trade. To the west, there’s Costa Rica, and the common border strongly promotes cooperation. As pathetic as it may sound, Panama is a gateway between South America and the rest of the world.
Panama: Where Beauty Meets Adventure
A true paradise for tourists, Panama attracts travelers from around the world with its amazing offerings. The tourism industry plays a crucial role in Panama’s economy. People visit this Central American gem to experience its stunning landscapes, rich cultural heritage, and unique wildlife. Panama’s tourism sector is diverse and continuously growing, thanks to its enticing attractions like the famous Panama Canal, beautiful tropical beaches, captivating mountains, and the country’s strategic location in the Americas.
The bustling capital, Panama City, is a popular destination that fascinates visitors with its mix of history and modernity. Bocas del Toro is well-known for its gorgeous tropical beaches, inviting beach lovers to enjoy the sunny shores. The Las Perlas Archipelago boasts white sandy beaches and vibrant coral reefs. It is a paradise for those who love underwater activities. Portobelo, a historically important port city on the Caribbean coast, attracts explorers with its intriguing history and charming atmosphere. The San Blas Islands, home to protected wildlife like dolphins, sea turtles, and pelicans, provide a unique and unmatched natural experience.
Each of these destinations offers a wide range of attractions to suit different interests. From ancient landmarks like Panama Viejo and Fort San Lorenzo that bring the country’s history to life, to exotic beaches and rainforest tours that allow visitors to be close to nature, Panama ensures that everyone has unforgettable experiences during their visit.
Thriving in Panama: Economic Growth and Opportunities in 2023
Panama’s economy is expected to grow and develop significantly in 2023. The services sector, which includes banking, tourism, international trade, and logistics, plays a crucial role in driving the country’s economy. Additionally, Panama has created special areas for free trade, which are becoming increasingly important for its economic success.
The Panama Canal is a key economic asset, bringing in money through taxes, fees, and international trade. It also benefits related industries like shipping and logistics. The economic outlook for 2023 looks promising because the government has introduced various tax incentives to attract international businesses. The above incentives include lower taxes on income and corporate profits, as well as exemptions from certain import duties and local taxes on imported goods. These measures encourage foreign investment in Panama’s local markets. Panama’s policies that promote open markets and welcome investors make it an attractive destination for multinational companies looking to establish a presence in Central America.
As the world recovers from the global impact of the pandemic, Panama is well-positioned to benefit from positive trends. With solid government policies in place, Panama is prepared to face any economic challenges and continue on its path of growth.
Panama’s Residence by Investment Program: Prospects for Global Investors
Panama’s thriving economy relies heavily on services, which contribute to its growth. The government offers an attractive residence by investment program that allows global investors to actively participate in the country’s progress. Through this program, investors can obtain residence and access various investment opportunities in Panama. The process is relatively quick, usually taking from 30 days to 4 to 6 months. It all depends on the chosen investment option. Moreover, investors may apply for citizenship after living in Panama for 5 years. The residence by investment program provides an opportunity for wealthy individuals to contribute to Panama’s development while enjoying the advantages of residence and investment possibilities in the country.
Permanent Residence in Panama: Invest in Real Estate to get your Residence the easy way
Panama offers an attractive opportunity to obtain permanent residence through investing in real estate.
To obtain their residence by investment, Panama’s laws offer investors 3 options. The first one is to purchase property worth USD 300,000 in Panama. The second option is to deposit USD 300,000 USD in a Panamanian bank for 3 years. The third option allows investors to combine the purchase of a cheaper property with depositing the remaining amount in a Panamanian bank for 3 years.
Investing in Panamanian real estate has many benefits. With various locations to choose from, you can suit your preferences. Panama is recognized as one of the best places to retire, ranking 4th on the list. The cities, beaches, mountains, and valleys offer a pleasant living environment and opportunities for business and leisure.
When purchasing property in Panama, consider accessibility and the population of the area. Panama has lots of forests and sparsely populated regions, so be sure to inquire about the population in specific places. Although a location close to beaches, mountains, and rivers is great for living, it is also important to have access to services like electricity, telecommunications, and infrastructure for your property.
Professional Assistance with Residence by Investment in Panama
Considering the number of legal procedures involved, it is not always a breeze to get permanent residence by investment in Panama. To make it easier for you, don’t hesitate to seek help from International Wealth professionals. They will guide you, saving both time and effort. With International Wealth, your chances to submit an accurate residence by investment application are much higher, and obtaining the desired residence permit and eventually citizenship in the country is bound to be successful.