Some Thoughts On Panama.

Date: Dec 13, 2005

I'm writing this article from beautiful Panama. I have to admit, the Republic of Panama is a great place to visit, and if I wanted to reside overseas, this would be a great place to live. In fact, for the past five years Panama has taken the lead as the best retirement haven in the world. This isn’t because of the tropical climate, rich history and culture, unspoiled islands, beautiful white sand beaches, and untamed jungles. It’s because Panama has some great incentives.

1. Affordable First World Health Care - Healthcare facilities in Panama are the best in Central America. This is because they were built to U.S. standards while the U.S. ran the Panama Canal.

2. Great Incentives For Investors – There is a host of financial incentives including the investor residency program.

3. An Excellent Pensionado Program – A pensionado saves on nearly everything, including recreational travel. Pensionados receive 50 percent off entertainment, such as movies, theaters, concerts, and sporting events; 30 percent off boat, bus, and train fares; 25 percent off airline tickets; up to 50 percent off hotel stays; and 25 percent off at restaurants.

4. A Modern Infrastructure - Panama has great roads, high-speed Internet access, cable TV, electricity that works 24/7, drinkable water, edible fruits and vegetables and much more. You'll find things work much like they do at home.

5. Outstanding Shopping - Panama has many modern shopping centers with the same popular stores that you love to shop at back home. Panama boasts American-quality goods and services. The difference is that in Panama, you won't be paying anywhere near U.S. prices for them.

But there’s more to Panama then just being an affordable place to live: It’s business friendly. Everywhere you look brand new high-rise apartments and lofts are being built. One of the high-rises just announced it was going to build 108 floors instead of 102 to be the tallest building in Central America.

Panama is also friendly on your tax pocket book; some of the residential real estate has a 20-year tax abatement. The locals are busy talking about building their country. They realize that it’s hot and muggy, so many developers are heading for the hills, the high hills that is, where the temperature is comfortable year round.

So, let me re-cap: excellent international transportation and communication systems, the U.S. Dollar as the legal tender, no exchange controls, and much less bureaucracy. Panama definitely passes the checklist as an ideal place to do business.

Yes, I have to admit that if you want to retire, or get some more “bang for your buck,” the Republic of Panama is definitely a place to check out.

Now… it’s time for a shot of Varela Hermanos before I get dressed for dinner.

Adios!

ABOUT THIS EDITOR:

John Dietz is a strategic advisor at Trustmakers.com with a passion for client solutions that can encompass your business, your real estate, and your personal assets. Mr. Dietz serves to educate you on the latest in asset protection planning.

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