Proving that it is a lot more than just the Canal (one of the most important engineering projects in the world that unites the Pacific and Atlantic Ocean). The Central American country has a lot to offer foreigners that visit or have chosen it as a place of residence to start their new life.
Panama is a nation that is young, vigorous and cosmopolitan, opening its arms to the world and wanting to show you what makes it such a unique place. There are countless reasons (and whichever type you want: rational, emotional, philosophical, aesthetic, etc) to demonstrate why a foreigner ends up falling in love with the country.
1. STABILITY
First off, a very logical reason. Panama has transformed into an economic leader in Latin America in a stable and sustained manner over the past 10 years.
The Canal nation has taken care of improving its qualifications in almost all the international rankings and measurements. Growth, legal security and overall security have created a country that is ideal to live a calm lifestyle.
2. THE PEOPLE
Joyful, fun and above all always smiling. If this does not ring a bell, recall their celebration when they gained a spot in the World Cup. The world became acquainted with the Panamanian spirit.
The national identity has been wrought through the harmonious interactions of multiple nationalities that came to work and decided to stay.
This harmony and cultural melting is evident starting with the architecture all the way to the gastronomy as well as the music and art.
3. HUB OF THE AMERICA’S
Right at the doors of the opening of the second terminal, the Tocumen Airport will increase its transportation capacity from 12 to 25 million passengers per year. Thus, Panama can be considered one of the most important points of connection in Latin America.
Today the country connects over 89 destinations and 37 countries in Europe, Asia and America and has almost double that amount of cities that are five or ten times bigger.
The country also counts with other airports whose infrastructure allows commercial flights as well as charters to fly into the country.
4. THE BEST PLACE TO RETIRE
Panama has always embraced all individuals looking to live in the country. The foreigner will always be welcomed. It is in its DNA. And if something has been a public policy it is the benefits for the retiree. It is because of this that regardless of their nationality, the retired person has a series of rights that are completely guaranteed.
Modern, convenient, and close to the U.S.—not to mention sunny, warm, and welcoming. It’s hardly surprising that Panama topped the 2019 Annual Global Retirement Index.
International Living
Therefore, for the past 10 years, Panama has lead the quality of life rankings for retired and senior citizens. Around the 1980’s, Law 6 was established indicating the benefits apply to both Panamanians and foreign residents in the country.
Who is eligible? All women over 55 years of age and men over 60 years of age who have a personal identity card, their retired ID or their disability pension, as well as the document that accredits them as a resident in the country.
5. HEAVENLY BEACHES
Were you aware that in Panama you can visit the Pacific and Atlantic Ocean in the same day? Yes, the same day! Now imagine the amount of beach options that the coastal line can offer on both sides, the Pacific and the Caribbean, as well as over a thousand islands that can be found a short distance from the coast.
Identify what you are looking for and jump into the adventure. Swim, dive, sail, surf or simply bask in the sunshine in an infinite number of paradises that are awaiting your discovery.
6. BENEFITS FOR INVESTORS
Since its beginnings, Panama has promoted foreign investment in the country. For this, over 40 laws and decrees have been created that offer special incentives for importation, as well as in matters of taxes and operation.
Some of the sectors that enjoy these incentives are tourism, exportation zones, mining, reforestation, insurance and reinsurance, agroindustrial, petroleum free zones, infrastructure and construction.
For a while Panama has been an attraction point for global investors that appreciate the legal security and excellent competitive benefits (such as the Law for Stable Investment Law No. 54, July 22, 1998) that the country offers.
7. GOLF YEAR-ROUND
You do not have to travel far from the airport to find the first golf course in the city. Santa Maria, the second golf course designed by Jack Nicklaus in Panama, has an astonishing design and is the country’s youngest course with 7,153 yards built with the best technical specification that challenge the player in each move.
This is the way that Panama welcomes golf fans. However, apart from Santa Maria, there are another ten courses distributed between the city, beaches and mountains providing the player multiple and diverse options to choose from.
The wind, humidity and sun become important factors that must be tackled in each golf course, some of which have been host to important tournaments such as the Latin American PGA, Web.com, European PGA and others.
8. THE WORLD’S BEST COFFEE
A little over 20 years ago, a series of events led the coffee world to set their eyes on Panama. The emergence of the Geisha variety in coffee plantations in the isthmus would become the new star product of the country.
This is how year after year the prices of the coffee grain in this specialty have been breaking records reaching $1029 USD per pound for the Geisha from the Finca Elida in the past edition of the Best of Panama. This auction is where you can find the best grains of coffee in the country. If your passion lies in coffee, the area of Boquete is where the best coffee is produced with unique microclimates making it a perfect destination to visit and enjoy.
9. REAL ESTATE DEVELOPMENT
As the receiver of the biggest amount of foreign investment in the region, Panama has developed a highly coveted real estate market. A modern city, with first world touristic projects and which offers the investor a wide range of opportunities with the same benefits as a local.
Similar to how some have decided to invest in permanent residences, there is another group of foreigners that, taking advantage of the benefits that the country provides and its stability, they aim for investing in a type of residence called “residential tourism”. Last year, it was estimated that this type of tourism equaled 10 thousand million dollars.
Developmental projects such as Santa Maria, Buenaventura or Santa Monica are clear examples of projects based in high class amenities with medium term returns.
10. LIFE IN PANAMA
The Isthmus has transformed into one of the most coveted places to live in due to its cosmopolitan style and large list of activities to do. Something is always happening in or around the city.
Restaurants such as Maito, the only restaurant in Central America ranked within the 50 best of the prestigious lists by San Pellegrino, or Casa Escondida, Intimo, La Tapa del Coco or Donde Jose, are young gastronomical projects by young local chefs that wish to rescue traditional Panamanian cooking above all.
And across the year, what you will find are activities and events. To the already traditional Jazz and movie festivals you can add theater, dance, concerts and other activities that are recurring in the annual calendar of the country.
We could continue providing more and more reasons, but we want you to discover them for yourself. Panama awaits you with open arms.
This information was developed by Panama Living, a digital platform committed to collecting, researching, and disseminating all the necessary information to turn your interest in Panama into a pleasant and enriching experience.
