Ever since Ricky came to complete the Panama Living team, he has met with more than a dozen foreigners who are looking for information about the opportunities the country presents and how to invest. In this article our advisor breaks down those relevant aspects in his conversations with prospects.
Six months ago I ventured into this new task of serving people who have an interest in living or investing in Panama. What I enjoy the most is being able to present everything this land can offer you. But even more, to see the great interest and knowledge that people have about my country.
The calls have been from various parts of the world. South Americans, for example, want to understand a little more about Panama and its lifestyle. Motivated by the political changes that are taking place, they want to delve into what is necessary to settle here.
North Americans want to know more about investing and property management. Given the quality of the construction and the ‘low cost’ of the square meter compared to other locations in the region, it is relevant for them to inquire about how their investment will move in the short, medium and long term.
In this context I want to summarize these meetings and present relevant points when having work sessions with these people interested in making Panama their place of residence. These are the most important points:
- Immigration Process
My recommendation will always be applying for the Residence Permit as a Qualified Investor. The benefits that have been generated with this visa, launched by the government of Panama in October 2020 and which will be valid until October 2022, are unique in terms of scope, mode and time of issue.
This is the main topic in any conversation. Our team has advisory lawyers that are experts on the subject that will save you time and bad times. In addition, the real estate market is a good entry point for this visa, since it represents the lowest investment cost to obtain it.
In addition, and perhaps the greatest benefit, once all the documentation is presented (a procedure that can be done online) the approval time does not exceed 30 days.
- Living in Panama
Panama has something incredible. So many cultures and races have settled here and this combination has generated a fusion of customs and flavors that are appreciated only when you spend a few days in the country.
Luxury gastronomy, paradisiacal beaches, an adventure space always close to everything, (from the city to the border there are no more than 6 hours by car) make this country a place that will always surprise you.
In addition to very good infrastructure (roads, hospitals, airports) and high quality medical services, the city experiences a cosmopolitan atmosphere and Jazz and Film festival activities, theater, dance, concerts and other activities are recurrent in the yearly calendar.
- Real estate market
Panama, compared to other important locations such as South Florida and Costa Rica, presents great opportunities for investment with a much more convenient price per square meter, not only for the amount, but also for all the benefits that this generates for the investor.
The residence visa, tax residence or property management companies that can manage and generate extraordinary returns in a very dynamic market in the high segment, are just some of the benefits of investing in the Panamanian real estate market.
- Property Management
Buenaventura Rental & Property Management is one of the best programs that exists today in Panama. First of all, it is located in the best beach resort in the country, which requires it to supervise and maintain the Buenaventura standard for those who visit the community and avoid inconvenience to permanent residents.
This provides the investor with protection for their investment and, at the same time, security for their income by having a permanent demand for short, medium and long-term properties, as it is an exclusive program that only a few owners can access.
- Business opportunities and benefits for investors
Today there are more than 40 laws and decrees that offer special incentives for imports, in terms of taxes and operation.
Some sectors that enjoy these incentives are tourism, export processing zones, mining, reforestation, insurance and reinsurance, agro-industry, oil-free zones, infrastructure and construction.
All of these with legal security provided by the Investment Stability Law Law No. 54 of July 22, 1998 which treats nationals and foreigners as equals.
If you want to discuss any other relevant point, do not hesitate to schedule a call with me to help with whatever you need.
