Tuesday, March 20, 2007

DVD features Panama real estate

Amazon.com


Home:World Panama DVD - Buying the Home of Your Dreams in Paradise
(2007)
Director: Sasha Owen Rating G

Editorial Reviews
Product Description
Shot in gorgeous high definition (HD) video, Home:World Panama shows you how you can buy the home of your dreams in one of the world's most sophisticated and affordable countries: Panama. In this 60 minute video, we take you from the gleaming luxury highrises of Panama City to the laid back tropical island paradise of Bocas del Toro and introduce you to expats who are living the life they've always dreamed of, for far less than they would have paid in their home countries. We also take you to the beautiful mountain oasis of Boquete, which has long been regarded as one of the world's best places to retire. We interview many expats, the people who've made Panama their new home and we follow one couple, Kay Owen and Larry Mattison, as they search for, and ultimately find, the luxury apartment of their dreams in Panama City. We also interview attorneys, real estate agents, developers and other experts who give you the inside scoop about how to get the best property deals in the country. They explain the process and reveal the secrets for making a profitable and wise investment in a country that is truly a nexus of the world. Whether you're looking for a quiet country reatreat or a cosmopolitan luxury penthouse in the sky, Home:World Panama shows you how you can retire or buy the affordable second home of your dreams in this spectacular country in Central America.



Santa Fe Films Releases New Video Series to Help People Buy Their Dream Homes in Paradise (PR.com)
Home World: Online blog


Friday, March 16, 2007

The Expat Show features Panama real estate law on ABC Radio

Getting around and understanding the law in Panama with Alvaro Aguilar. Alvaro is with the Panama based law firm Lombardi Aguilar & Garcia. www.laglex.com

LISTEN NOW ON MP3


THE EXPAT SHOW

THIS WEEK ON THE EXPAT RADIO SHOW

We return to the exotic country of Turkey to interview with author, former US Marine and leadership consultant now living in Istanbul, Jim Stroup.

Also featured is Alvaro Aguilar of the law firm Lombardi, Aguilar & Garcia (www.laglex.com), on buying real estate in Panama.

Brendan Sharkey from HTH Worldwide (www.hthworldwide.com) talks about global insurance for expats. Tai is joined by co-host Ms Greta Elias. Greta's website is: www.greataelias.com


Tune in February 17th 2007 or LISTEN NOW ON MP3

THE EXPAT SHOW is heard weekly 12:30pm eastern time over WTBQ1110AM radio NY/NJ and the world wide web at www.theexpatshow.com.
Check out what time the show airs around your part of the planet!

Proud of our affiliation:



email: producer @theexpatshow.com phone: 914 422 1990

web: http://www.theexpatshow.com




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Wednesday, February 21, 2007

Setting up an e-business in Panama



http://www.panama980.com/issue04_05.php
http://www.panama980.com/products1.asp?step=25&id=58&catid=4&pstring=58

>> setting up an e-business in panama
by Alvaro Aguilar



In this day and age of connectivity, modern technology allows many individuals to run their business from wherever they are. When considering where to relocate, Panama provides excellent opportunities to continue managing a business and tend to customers worldwide from your new tropical location.

High bandwidth increases connectivity
The central location of Panama, right in the middle of the Americas, makes it the place where submarine fiber-optic communications circuits between North and South America converge. This allows users in Panama to enjoy extraordinarily ultra-high-speed bandwidth intensive applications such as multimedia and digital video, enabling fast and reliable connections for B2B, banking, ecommerce and other businesses as well as additional high-speed consumer activity units. Currently, Panama has the same bandwidth capability as New York City, with the difference that Panama uses 3% of its capability as opposed to 70% in New York.

Several local companies have set up data warehousing facilities in the Panama Canal area, where these circuits converge. These companies provide large and small online businesses with the use of their servers or can host their servers in special secure rooms
dedicated to providing rack-mount space.

The increased connectivity has encouraged 20 call center companies to employ around 5,000 workers, available for customer service. Currently, most centers serve businesses in the United States, especially Hispanic customers. The Government has increased the availability of English-speaking personnel for these centers with special education programs. An expatriate who only needs a single person for customer service can retain one of the many small virtual office services which provide a receptionist and a dedicated telephone line.

Special laws for online activities
Larger online businesses may have their office in Export Processing Zones, which allows them to claim benefits such as duty-free importation of equipment, low taxation and more flexible labor conditions. Offshore services, such as international marketing, financing, management, consulting and all services related to information technologies for data processing and technological research for clients abroad, may be set up at these Zones.

Additional benefits are provided to businesses set up in the City of Knowledge, a special technology park zone located next to the Miraflores Locks of the Panama Canal. Businesses have a 25-year income tax exemption and are exempt from limits on hiring of foreign staff.

The government grants online gaming licenses to operations whose owners provide full background information and pay a S$20,000 yearly license fee. In addition, they must maintain a bank account in Panama to ensure payment of prizes.

Tax and Financial Framework to Ensure Success
Once the hardware and logistic issues are dealt with, there are many advantages when setting up a business in Panama. A Panamanian corporation can be set up in a few days and its activities are not subject to Panamanian taxes as long as it sells to clients located outside of Panama. With proper legal advice, shareholders can arrange the structure of the corporation to defer or reduce the taxes they have to pay in their home country. In most countries, online transaction tax is based on the nationality of the corporation owning the domain of the business or on the location of its server, which further favors choosing a Panamanian corporation with Panamanian servers to conduct business.

A foreigner who qualifies for a retiree visa but wishes to maintain an active lifestyle can run a business online without the need of a work permit if he or she maintains a minimal business presence.

Alternatively, an expatriate owning a business with physical offices in Panama, 3 full-time employees and US$40,000 in investment can apply for a small investor visa. Other visa options are available when higher amounts are invested.

Panama has around 100 banks, out of which several actively seek out clients for e-commerce services. Prospective businesses must provide all due diligence information on the background
of their owners. Basic information on the structure of the online transactions must be provided to the bank to ensure that no unlawful activities will be conducted through the bank. Once the
bank official is acquainted with the purpose of the e-commerce activities, transactions are conducted in a secure manner under Panama’s confidentiality laws. Alternatively, micro payments can be routed through non-bank “digital cash” online services, some of which are incorporated in Panama but do business though banks elsewhere.

This combination of advantages makes Panama the ideal location for an e-commerce operation. º





lombardi aguilar & garcia
Tel. ( 507) 340-6444
http://www.laglex.com/

Monday, February 19, 2007

Is Panama City The Next South Beach?

http://www.washingtonpost.com/wp-dyn/content/article/2007/02/16/AR2007021600623.html

washingtonpost.com

Is Panama City The Next South Beach?

By Ceci Connolly
Special to The Washington Post
Sunday, February 18, 2007; P01

It was sticky hot, and I was grungy after a morning exploring the cobblestone passageways of Panama City's Casco Viejo, a 300-year-old cross between the crumbling charm of Old Havana and the restored glow of New Orleans's French Quarter.

In my baseball cap, khaki shorts and sweaty T-shirt, I was dressed for a sidewalk hot dog stand. But a Panamanian friend had been raving about S'cena, the new Mediterranean restaurant in this colonial-era part of town, and when I stumbled upon its entranceway, it seemed the food gods were summoning me.

Still, I felt a little sheepish as I passed the first-floor jazz bar and stepped into a scene of sophisticated serenity: white tablecloths, fresh flowers and waiters in pressed shirts. I braced myself for dirty looks and a dreary table near a swinging kitchen door.

Instead, the owner greeted me like a lost cousin, whisking me to a prime table and gently draping a linen napkin across my lap.

And apparently I wasn't the only one getting VIP treatment. They were calling the guy in the next room "Mr. President."

"No, no," the waiter whispered, "it is the president -- of Panama."

Somehow, it all made sense. After just a few days in Panama, you start to recognize faces, and the prospect of sipping a midday chardonnay a few feet from the country's most powerful man doesn't seem so far-fetched.

I had seen ads touting Panama City as the next super-swanky Miami, and I was prepared for velvet-roped lines and South Beach-style snobbery. Heck, Jenna Bush was clubbing here just before I arrived. So not having to deal with a waiter with an attitude was a relief.

But I can see why it gets the Miami comparisons. The city tucked on Panama Bay offers a hip urban vibe and a distinctive skyline. It has sunshine, seafood and shopping opportunities galore. And although Panama is part of Central America, its rhythm and stylish Latin inhabitants have a Caribbean flavor.

There are notable disappointments. Panama's tourism industry sometimes struggles to meet the demands of travelers. (The man at the Avis counter had no idea how to get downtown, and cabdrivers were no better.) And though the country has many exquisite beaches, none is within walking distance of the hotel strip as in Miami's South Beach.

But ultimately, the beauty of Panama City is that it hasn't become Miami yet. It's much more welcoming and manageable. And now is the time to go -- before the Panama Canal gets its third set of locks, before Donald Trump finishes his 65-story tower and before the prices shoot just as high.

Glitches, Then Fixes

The woman behind the Louis XV desk at the Hotel DeVille looks puzzled.


Ten, the bistro inside the Hotel DeVille, a new boutique hotel with soaring ceilings, comfortable beds and plenty of room to stretch out.
Ten, the bistro inside the Hotel DeVille, a new boutique hotel with soaring ceilings, comfortable beds and plenty of room to stretch out.
Hotel DeVille

"No, I'm sorry," she tells my fiance, Manuel, and me. "I do not have a reservation for you."

After arriving late at night in a foreign city where we do not know a soul, this is not the greeting we want to hear, especially because the lobby of this boutique hotel hints at a pleasant stay -- Persian rugs, plush sofas, soft lighting and newspapers on every table.

"It's not a problem," the woman chirps before I can pull out our confirmation slip. "I can take care of you."

It is a scene that will be repeated over and over in Panama -- a glitch followed by an enthusiastic fix. Our room, with 20-foot-high ceilings and exposed wood beams, has all the modern amenities of a five-star hotel, except it's larger and much more affordable. There's a desk with Internet access, piles of feather pillows and soft robes for us both.

We head back downstairs to the hotel's groovy new Ten Bistro, where the gimmick is $10 entrees. (Yes, Panama's currency is the U.S. dollar, so dinner is a bargain.) After two flights, bad directions and a missing reservation, a decent meal and big goblet of wine are just what we need.

But there's a problem: The restaurant is closing at the very un-Miami hour of 10 p.m.

This being Panama, the problem evaporates as fast as it appeared. The manager stays open just for us, guiding us to a table aglow with orange candles. The soothing palette continues overhead, with glorious bird of paradise blooms sprouting out of suspended glass vases. And to top it off: a chilled bottle of a crisp, absurdly inexpensive Chilean sauvignon blanc.

The Canal, of Course

Even today, 93 years after completion, the Panama Canal is an awesome engineering feat, guiding ships the 50 miles from the Caribbean Sea to the Pacific Ocean.

We arrive at the Miraflores Locks and head to the outdoor viewing deck. The sight of 965-foot-long behemoths squeezing through the canal is unbelievable, the precision timing of the locks a marvel. Over a loudspeaker, a bilingual guide rattles off canal stats and fun facts. "The lowest fee ever assessed for passage was 36 cents," he says. "It was for Richard Halliburton to swim the canal." An impressive museum inside is complete with a simulator that gives a realistic sense of what captains experience as they navigate the narrow locks.

The next day, while Manuel works, I ask my cabdriver to drop me at the Plaza de la Independencia in the center of Casco Viejo. The modest square looks much as it did 100 years ago: narrow one-way streets, stone edifices and a few rusty cannons.

On the corner is a lovingly restored four-story colonial built by the French in the 1870s and now home to another canal museum. At one-fifth the price and almost empty, it is a much better deal than the locks museum.

The story of the canal -- from the failed effort by the French in the 1880s to current widening plans -- is presented in bright, colorful interactive exhibits. There's a full recounting of the 22,000 workers who died, most by malaria or yellow fever, and a sobering account of the segregated system that left dark-skinned workers with less money in their pockets at the end of each workday.

Outside the museum, the neighborhood offers the best of Panama City -- past, present and future. In 1671, after pirate Henry Morgan burned the original city to the ground, the King of Spain chose this boot-shaped peninsula to rebuild.

Although Casco Viejo fell into disrepair in the 1950s, today it is enjoying a revival. The two worlds meet on its labyrinthine streets: Elderly women hang laundry on wrought-iron balconies as construction workers transform dilapidated convents into swanky loft-style condos.

By sheer luck, I happen upon the presidential palace just as four magnificent herons strut across the porch. A few blocks away, at the seawall, I take in a gorgeous view of a half-dozen ships queuing up under the Bridge of the Americas.

I'm intent on finding the Church of San Jose with its Golden Altar, and as I study my map, a 30-something man named Ricardo offers his services. In most big cities, this would be the signal to sprint in the opposite direction. But with squadrons of tourist police patrolling on bicycles, I accept the invitation.

Ricardo, a native Panamanian, makes the sign of the cross as we step inside the plain white church. The interior is an odd -- even unsettling -- jumble of periods. But the baroque altar, salvaged by a priest who hid it from the plundering Morgan, is a mouth-gaping gem, an enormous mahogany piece covered in gold leaf.

Later, another local, Julio, guides me to the dungeons used first by the Spaniards and later the Colombians. One has been converted into a touristy restaurant. But Julio leads me to another. I climb through a low-slung doorway, and in the dank, poorly lighted room is a genuine surprise: paintings of every shape, color and style. Portraits of the Virgin Mary lean up against seascapes; stacked in another corner, geometric abstractions are mixed with battlefield images. Many look to be schlock, but a few are captivating.

The paintings, Julio says, are all from the collection of jailed dictator Manuel Noriega. There's no proof of this, but the dungeons are super cool and Julio and his tale -- true or not -- sure beat the standard tour guide spiel.

Tropics to Mountains

We are driving through Cocle Province, 75 miles southwest of Panama City. As we negotiate yet another tight curve, the landscape shifts from the tropical palms of the capital to the sturdy pines of this mountainous region -- all in less than an hour.

As we reach the top of one particularly steep hill, I holler, "Stop the car!" On our right, in the distance, is the Atlantic Ocean's Caribbean Sea, and to the left, down a terrifyingly steep rocky cliff, is the Pacific. We are poised on a ridge separating two continents.

There are many reasons to escape the city and explore Panama's natural wonders. But it is hard to imagine a better one than this view, arguably one of the most distinctive vantage points in all of Central America.

Farther up the slope, we reach El Valle, a town that sits inside a crater created 3 million years ago when a huge volcano blew its top. Today El Valle is one of the largest inhabited dormant volcanoes in the world. The town's fresh air, leisurely pace and cooler temperatures make it a popular weekend retreat for Panama City's elite. (Signs along the road tell the story: "Door to Paradise" and "Villa Nirvana.") Nature lovers rave about the region's hiking trails, waterfalls and horseback riding.

But the main "activities" we encounter are relaxing and eating. New Panamanian friends have arranged lunch on the patio of La Casa de Lourdes, a Tuscan-style mansion with an idyllic poolside restaurant and terraced gardens. Surrounded by Panama's leisure class, we follow their lead and order a bottle of wine. It goes well with a table full of fresh Panamanian and Creole seafood dishes accented by spice rubs, mango salsas and yucca, the ubiquitous root that locals mash, fry and even toss into cakes.

We take a room in the adjacent building, which is not nearly as architecturally inviting as the main house. But our suite is enormous, with a luxurious modern bathroom and tiny terrace looking out on a ring of mountains. At dinnertime, we stroll through the gardens to the restaurant, now aglow in candlelight.

The next morning, heading back to the city, we stop at a roadside stand and order two chichemes, a heavenly blend of milk, sweet corn, cinnamon and vanilla. If we sip them slowly, they should last us all the way to Panama City.

Fish Market Finds

With just a few hours left in Panama, we decide to go to the source of the country's culinary goodness: the Mercado del Marisco, or fish market.

We slosh around the smelly warehouse, marveling at the piles of beautiful, slimy sea creatures. The vendors, friendly if slightly surprised to see a pair of gringos, teach us words in Spanish. The mero we devoured one night is grouper, longo is a giant tubular clam, and corvina a buttery, rich sea bass.

We meet a vendor named Niño and tell him we're craving lobster. But he shakes his head. "Not fresh," he confides.

Standing 5 feet tall in his rubber galoshes, Niño tells us he has worked the same stall for 33 years. He wants to make a sale, but he also wants satisfied customers. He recommends prawns and calamari. A pound plus of super-fresh seafood for $5.25? Who can argue?

With our catch in hand, we climb a rickety wooden staircase to a restaurant of sorts. Our waitress is brusque and the napkins are paper. There's a menu, but we don't need it.

We ask the kitchen to grill up Niño's goodies. The chef adds a pile of perfect French fries, and our bill comes to $6.

Ceci Connolly, a Washington Post reporter currently on leave, is based in Mexico City.

Panama City's Casco Viejo neighborhood has been revitalized after falling into disrepair in the 1950s.
Panama City's Casco Viejo neighborhood has been revitalized after falling into disrepair in the 1950s. (By Keating Holland)

This Week in Travel

Credit: David Tipling

Panama: Bird watchers flock to Canopy Tower. Also, is Panama City the next South Beach?
Photo Gallery: Panama's for the Birds

A Booming Panama City Awaits Noriega's Return


The Wall Street Journal

February 17, 2007





A Booming Panama City Awaits Noriega's Return

How American retirees -- and a canal makeover -- are transforming the capital
By JOSÉ DE CÓRDOBA
February 17, 2007; Page P1

PANAMA CITY, Panama -- When Gen. Manuel Antonio Noriega gets back to this lush tropical city after a 17-year absence, the former Panamanian strongman will scarcely recognize his old haunts. I barely did.

[Panama City]
Makeover: Balboa Avenue, Panama City

The news that Mr. Noriega plans to come back to Panama in September after spending nearly two decades in a U.S. prison since being deposed in a 1989 invasion, is the talk of the town. His return has momentarily eclipsed the other omnipresent subject of conversation here -- the real-estate boom fueled in part by American retirees, which has turned this once laid-back city, known as a refuge for spies, arms dealers and out-of-work dictators, into an enormous building site with a Manhattan-like skyline in the making.

Good times are expected to keep rolling: The country's famous canal is about to get a multibillion-dollar makeover, and a chunk of its down-and-out colonial city center is getting a facelift.

Landing here recently for the first time in many years, I recalled Mr. Noriega's last day in Panama, which I covered for The Wall Street Journal. That day, I spent hours waiting for Mr. Noriega to come out of the Vatican embassy, where he had taken refuge from U.S. troops. Days earlier, soldiers had blared ear-splitting rock from sunup to sunset to drive Mr. Noriega out of his refuge, but to no avail. I still remember some of the rather pointed musical jabs -- Jimi Hendrix's electrifying version of "The Star Spangled Banner" and Elvis Presley's "Jailhouse Rock."

TRIP PLANNER: PANAMA CITY
[Go to Trip Planner]
See where to stay and what to do in Panama's capital city.

Inside, the late Msgr. Jose Sebastian Laboa, who once held the job of devil's advocate in the Vatican -- arguing the canonical case against candidates for sainthood -- used his lawyerly skills to convince Mr. Noriega to surrender. Mr. Noriega, with his acne-scarred face, made a perfect villain, the type of tyrant the U.S. at first loves to use, and then loves to hate. After three days of loud music and 11 days of artful persuasion, Mr. Noriega walked out into the waiting arms of U.S. anti-drug agents and on to an eventual U.S. trial and conviction on drug-trafficking charges (if he does return to Panama, authorities have said they will put him on trial for murder).

In his Miami prison suite, Mr. Noriega became a born-again Christian. In his absence, Panama City has also experienced a rebirth of sorts. The place teems with hip new restaurants and salsa joints. New beach and eco-friendly jungle hotels are nearby and ground has been broken on a long-planned biodiversity museum by renowned architect Frank Gehry.

[Panama Canal]
The Panama Canal

The rebirth is partly the result of another U.S. invasion -- this time by the advance guard of baby-boomer retirees who have landed on Panama City's shores. Not only are the Americans here. So are the Canadians and Europeans. Venezuelans, one step ahead of the installation of fiery President Hugo Chávez's version of "21st-century socialism," are arriving in growing numbers.

Another factor in the remaking of the city was last year's vote via national referendum to go forward with a $5.2 billion government-funded project to widen the Panama Canal a few miles from the city center. A third set of locks, which will allow larger vessels to go through the waterway, is expected to be completed by 2015. Panamanians are betting the canal's expansion will boost other related businesses such as insurance and financial services, and help maintain growth rates of about 7%.

The canal has been central to Panama's history -- and its sometimes turbulent relations with the U.S. In 1903, President Theodore Roosevelt more or less carved out an independent Panama from Colombia in return for control of a 10-mile swath of Panamanian territory cutting through the middle of the country where the canal was built. U.S. control of the "Zone" fed Panamanian nationalism, leading to bloody riots in 1964. After thorny negotiations, the U.S. finally turned over total control of the canal to Panama in 2000.

Change is even making a dent in Panama City's slummy colonial city center, once the domain of prostitutes, pimps and pickpockets. Years ago, even looking at the fetid, jam-packed, crumbling buildings of the old city made one feel in danger of contracting the yellow fever that mowed down thousands of canal workers in the 1880s. There's still work to be done, but private and public money is being used to clean up some streets and a couple of squares are now home to trendy eateries.

[Bristol Hotel]
The Bristol Hotel

Many Panamanians appear happy with the way their city and country are going. Carlos Weil, a former Swiss currency trader turned Panamanian art dealer who has six passports, says the country is attracting people from all over the world. Half his clients are now foreign, boosting his prices and expanding his market. Foreigners have brought with them lots of new restaurants -- and even the city's first serious bookstores.

From colonial times, when the city was a key transit point for the transport of gold and silver from the mines of Peru to imperial Spain, commerce has always been Panama's driving force. The loot then woke the greed of famed pirate Sir Henry Morgan, who sacked the city in 1671. The ghostly ruins of that first Panama City can still be seen a couple of miles from downtown.

One of the world's largest offshore banking centers, Panama still attracts its share of pirates and flim-flam men. My all-time favorite for sheer verve and virtuosity was Lloyd S. Rubin, a Jackie Gleason look-alike widely admired here as the king of the upfront-fee scam. For years, Mr. Rubin lured hundreds of would-be entrepreneurs to Panama where he relieved them of millions of dollars by charging exorbitant fees in exchange for promises to provide investment funds that never materialized.

[Bay of Panama]
The Bay of Panama

In 1991, I wrote about Mr. Rubin in The Wall Street Journal. The following year, a notice appeared in local newspapers announcing Mr. Rubin's untimely death in Thailand. Three years later, Mr. Rubin rose from the dead. He surfaced in Ecuador, with an alias, Carlos Campbell De Cordoba, a name I felt almost turned him into a long-lost cousin. He was returned to the U.S. where he pled guilty in Georgia to fraud charges to do with his Panama scheme, and spent some time in prison. (Mr. Rubin now runs an art gallery here.)

Panama has historically been a refuge for deposed autocrats and disgraced politicians. After Iran's Shah of Shahs lost his Peacock Throne, he lived for a few months on nearby Contadora island. Haiti's strongman, Gen. Raoul Cedras, a diving enthusiast, found refuge here after the U.S. knocked him out of the box in 1994. And in 1997, Ecuador's President Abdala "El Loco" Bucaram ended up here after the congress dismissed him from office for living up to his nickname. Mr. Bucaram, who insisted I was an agent for the Central Intelligence Agency in my one interview with him, is said to be a habitué of the city's casinos, but I've never spotted him among the one-armed bandits.

[Statue of Balboa]
A statue of Balboa

I'm happy to say that my favorite bar, El Pavo Real, or the Peacock -- billed as Panama's only British pub -- is still around. The Pavo Real was Panama's version of Rick's Café from "Casablanca," a place where gun runners, drug pilots and one of my best sources -- a Cambridge-educated insect exterminator who was also an acute social critic -- got together for drinks. The late prima ballerina Dame Margot Fonteyn, who was married to a Panamanian politician, would drop in for lunch. So did more recently John le Carré -- in town to write "The Tailor of Panama," his remake of Graham Greene's "Our Man in Havana."

[Casco Antiguo]
Casco Antiguo

Old Panama City had a cozy, almost familial air to it. Anybody who was anybody was related by blood or marriage. That was brought home forcefully to me on my first visit to the country. I was covering the 1987 riots that eventually led to Mr. Noriega's downfall, when unbeknownst to me, my future father-in-law, the deputy administrator of the Panama Canal and a man proud of his Sicilian bloodline, asked Panamanian and U.S. military police to give me some rough treatment.

For reasons too complicated to go into here, he thought -- mistakenly -- that I hadn't done the honorable thing by his daughter, a diplomat in Miami whom I had recently met. To set things right, he wanted the police forces to find me in the chaos of tear gas and flying rocks and give me a light work-over to teach me a lesson in proper etiquette. Luckily, the forces were busy with more important things. I married his daughter shortly afterwards, and now get along famously with her father.

That small-town feeling -- where such favors are asked and granted -- is fading fast.

Write to José de Córdoba at jose.decordoba@wsj.com1


[Map]

Trip Planner: Panama City

How to Get There: Regular direct flights leave from Miami.

Where to Stay: The Bristol Hotel, a boutique hotel close to the city's financial center, is a favorite; rooms start at about $300 (www.the bristol.com2). Close by is the Hotel de Ville, another boutique hotel where rooms start at $175 (www.devillehotel.com.pa3).

Where to Eat: Panama has great seafood restaurants. Try Siete Mares, where the specialty of the house is Msgr. Laboa's Lobster, topped with red caviar and named after the late papal nuncio who talked Gen. Noriega into abandoning the Vatican embassy and surrendering to U.S. troops (Tel: 507-264-0144). Madame Chang's is considered one of the best Chinese restaurants in town (Tel: 507-269-1313).

What to Do: A visit to the Panama Canal is a must -- take a taxi to the Miraflores locks. Stroll by the ruins of the first Panama City, sacked by the pirate Sir Henry Morgan in 1671, a couple of miles from downtown. Visit the present Old City, known as the Casco Viejo, which is being rehabilitated. There, stop by the cathedral and the Plaza de Francia, with its touching monument to the French engineers who died in the first failed attempt at building a canal. The Amador causeway has lots of bars and restaurants and is great for jogging and bicycling.

José de Córdoba
URL for this article:
http://online.wsj.com/article/SB117166770175011667.html

Copyright 2007 Dow Jones & Company, Inc. All Rights Reserved

Saturday, January 06, 2007

Panama becomes Latin America's newest boomtown

Panama on the rise


Construction, global interest booming, eclipsing long-range worries



PANAMA CITY -- Long a freewheeling shipping hub and offshore banking center for the Americas, Panama is enjoying a building boom on a scale unmatched since the construction of its famous canal 92 years ago.


The country is luring investors and expatriates worldwide, with interest further boosted by the recent approval of a $5.2 billion plan that will double the canal's capacity.


A real estate frenzy fueled by easy credit from Panamanian banks, government incentives, and a saturated US housing market for retirees has attracted speculators and prospective residents from California to Dubai. They are snapping up preconstruction bay-front apartments, highland villas, and the latest luxury development from Donald Trump -- a $220 million residential, office, and hotel complex called Trump Ocean Club, with towers shaped like a yacht sail. Two rival Spanish projects are vying to build the tallest skyscraper in Latin America at about 100 stories.


Construction moguls and estate agents say Panama City is a sure bet for investors, offering discount prices for quality of life and healthcare rivaling the United States', more than 100 international banks, tax breaks, and stunning Atlantic and Pacific coastlines.


But urban planners and long time residents warn that overbuilding could ultimately strain the country's roads, water supply, and other infrastructure to the breaking point with devastating consequences.


Almost no one seems to be heeding those alarms.


Cranes, building sites, glitzy sales offices, and real estate package tours aimed at foreigners are everywhere, from Avenida Balboa in downtown Panama City to suburban Punta del Este. Laundered drug money from neighboring Colombia built some of the early mirrored high-rises in the 1980s, but today's buyers include fixed- income senior citizens from the United States searching for a less expensive place to retire as well as billionaires from Monaco and Cannes.


David Btesh, a partner in Pacific Point, a high-end condominium project under construction on a landfill in downtown Panama City with units ranging from $300,000 to $1.1 million, said foreigners are looking for a haven from a world they perceive as unsafe because of crime at home and global terrorism.


"They're not going to Europe because it's too expensive, Canada's too cold, and Mexico's only Spanish-speaking," while many Panamanians speak English, Btesh said.


"Panama is a dollar economy with a democratic government. There's every kind of food, a modern airport with about 54 flights a day, and the second-largest free-trade zone in the world after Hong Kong," he said.


US citizens represent two-thirds of foreign resident visas issued in Panama in recent years, officials say, with at least 1,379 Americans moving to the country since 2003. Celebrities from Mick Jagger to Bono reportedly have purchased property in resort areas outside the capital.


The canal, central to the country's history, also looms large in the current boom.


The United States supported Panama's declaration of independence from Colombia in 1903 in exchange for US control of a canal connecting the Atlantic and Pacific oceans. In 1914, the US-built canal was completed, and the zone remained under US control until 2000.


In October, a majority of Panamanians voted to finance the construction of a third canal lock over the next decade that will allow the 50-mile lock and lake system to accommodate bigger ships and double toll revenues within 20 years, according to government estimates. Ricuarte Vásquez, minister for canal affairs, said the referendum "is a vote of confidence" in the local administration of the canal that has raised interest in Panama as an investment destination.


About 107 residential building projects of at least 20 stories, valued at $3.2 billion, are under construction in metropolitan Panama City, according a survey by Prima Panama, a real estate promotion company. That construction activity accounted for one-fifth of Panama's annual gross domestic product.


The report also found that about 11,000 apartments are scheduled for completion within four years -- the same number that were built over the past 11 years in metropolitan Miami, by comparison, where a glut has softened the market. The survey found that the average price of a new condo in Panama City is $289,111.


The cost has raised concerns about who will be able to afford to live in Panama.


Some will be the jet-set buyers targeted by the Trump complex, which is selling preconstruction condos from $400,000 to $8.7 million. The K Group, local developers of the project, says Americans including Trump, top the list of buyers at about 40 percent, followed by Canadians, Europeans, and Latin Americans.


Other buyers are expected to be baby boomers from the United States seeking more value for their retirement money. Modern Maturity magazine ranked the town of Boquete, in Panama's highlands, as one of the world's top retirement destinations.


Kit Marchel, a 35-year-old real estate investor, said she sold her Los Angeles condo last year for $3.3 million and bought an 8,000-square-foot villa at a southern Panama beach for $335,000. Since then, she has acquired 17 properties in resort areas and the capital, with plans to resell, rent, or redevelop them.


"The communications work, you can drink the water from the tap, there's no currency exchange issue, and it feels a lot like home," she said. "I've made a commitment to this country. . . . I did my research first. There's one baby boomer retiring every six seconds -- add those numbers up."


But a question nagging even the bullish is whether public services and demand can keep up with rising supply and prices. Already the capital suffers from traffic jams and fumes from untreated sewage that is dumped into Panama Bay. Public transport is sorely lacking, and the water supply is insufficient in poor neighborhoods.


"It's a time bomb -- you cannot meet the demand of all these high-rises with the infrastructure that exists," said urban planner Jorge Ricardo Riba, a former top official with the National Planning Office. "What happens when people start to live there?"


If the US economy weakens, he said, "there may not be enough buyers. I see a lot of empty apartments in the future."


Sandra Snyder, an American relocation consultant in Panama City who has written two books about expatriate life in Panama, also worries that the country's infrastructure cannot keep up with the pace of building. "This is such a lovely place, and I hate to see what's happening with this frenzy of building," she said.


A few developers say they are looking beyond the quick buck and want national and local officials to forestall problems before they arise.


José Bern of Empresas Bern, a hotel and real estate giant, said his biggest problem is finding workers to complete his projects on time and within budget. Panama City "is experiencing some growing pains, and it will get worse before it gets better," he said. "But maybe that's good, to slow things down."


Sarah Cox, a consultant with International Living, a publishing and seminar company, says the government has promised a new bridge, a wider main artery, a revamped bus system, a waste-water treatment plant, and a cleanup of the bay.


Cox acknowledges that speculation and overbuilding could bring down Latin America's new boomtown. But for now, she said, "I don't see that they'll stop building until people stop buying. . . . It's like picking up dimes in front of a steamroller. As long as you can stay ahead of the steamroller, you're fine."

http://www.boston.com/news/world/articles/2006/12/27/panama_on_the_rise/

Sunday, December 10, 2006

Shipping and Mailing Solutions in Panama


>> my package went were?
Shipping and Mailing Solutions in Panama

When your address changes from “128 Elm Street, Farmsville TX 76508” to “El Cangrejo, la Vía Argentina, la primera calle después del parque, a una media cuadra norte del almacén, frente a la casa amarilla de tres pisos, apartmento tres D, ciudad de Panamá, República de Panamá”, receiving your Christmas cards from family in the States may not be as simple as it used to be. Christmas cards, however, are probably not your main concern. When you choose to live in a foreign country, many items are simply unavailable or out of your budget when available locally. The fact is that sometimes you will need to receive documents and packages quickly and securely. Luckily, there are several solutions.
a po box in miami
In Panama, several companies offer mail-forwarding services. These private mail companies provide you with a PO Box address in Miami to receive your mail and then forward it to Panama within 48 hours. Most companies will deliver the mail to your home. The cost for this service is based on the weight of your correspondence, which generally runs around $3-4 per pound depending on the terms of your contract. It is a good idea to know how much mail you expect to receive in order to select the plan that suits your needs. Keep in mind that magazines with several hundred pages can weigh up to 2 pounds each. Another benefit of maintaining a US mailing address is that you will not be charged a fee by your credit card company for having an address overseas or receive your frequent flier statements in Spanish.



internet purchases
While shopping is great in Panama, there are occasions when you need to shop online. There are several things to keep in mind when placing an order. The first is to know the weight of your purchase as well as the size of the box. With that information, you can consult with your mail-forwarding provider as to the expected cost of delivery, taxes, and customs fees. The cost of bringing in merchandise varies depending on the item, but expect to pay between 10-20% in taxes. If you do not have a credit card from the US, it is often difficult to place orders online. Some of the larger mail-forwarding services place your orders online for you using their credit cards.
air vs. maritime cargo
Depending on how quickly you need to receive your package, you can opt for what is called maritime shipment. Your package will arrive safely, but will take a week or two longer. However, the savings in freight costs can be significant for large, heavy items over eleven pounds. You will still have to pay taxes and customs fees. Once again, it is important to consult with your mail-forwarding provider, since the address for delivery via maritime shipment may be different from the one you would use for shipments by air cargo.
international couriers
Sending correspondence from Panama using your mail-forwarding provider is generally done using their discounted rates with DHL and FedEx. Some mail-forwarding companies offer a less expensive option using the Priority Mail service in the US.
deciding on a service
If you have decided to use a mail-forwarding service, it is a good idea to ask for references. Friends and business acquaintances may offer insight into which companies are more reliable than others. You may also want to visit the office and ask how their operations work.
A mail-forwarding service is a good way to stay in touch with friends and family back home. It is very helpful to be able to receive urgent items in a safe, economical way. If you do your homework and ask the right questions, you will overcome one of the challenges of living abroad.º
By Pamela Oakes Aguilar
Airbox Express
http://www.panama980.com/mailboxes.php

Saturday, December 02, 2006

Relocating pets to Panama

IMPORTING / EXPORTING PRIVATELY OWNED ANIMALS AND WILDLIFE FROM THE REPUBLIC OF PANAMA
Before shipping a dog or cat to or from the Republic of Panama, contact local airline personnel, to determine shipping requirements, size and type of cage needed.
To import a dog or cat into Panama, you have to bring:
1) Health certificate authenticated by Panamanian Consul or with Apostille from the Department of State,
2) Vaccinations certificate authenticated by Panamanian Consul or with Apostille from the Department of State,
3) Pay US$130.00 for quarantine fees at any BANCONAL Banco Nacional de Panama with an appropiate form


4) If entering through Aeropuerto Internacional de Tocumen an attorney or acquaintance in Panama has to request an exemption from quarantine in writing before the health minister 2 weeks before the trip - indicating arrival and pet information. The request must be submitted hand-delivered at PETA-MINSA (Proteccion de Alimentos of Ministerio de Salud, at former Gorgas US Army Hospital, tel. 562-1671)
With these documents the pet will be allowed into the country. Without 4), the pet will be subject to 30-days quarantine and then released to you. Without any documents, the pet will be returned back to the country of origin.
Some Panama government officials are off-duty on weekends/holidays. PETS ARRIVING DURING OFF-DUTY HOURS WILL BE LEFT IN THE AIRPORT CARGO SECTION WITHOUT FOOD!!!

BIRDS AND OTHER WILD ANIMALS HAVE COMPLETELY DIFFERENT REQUIREMENTS!
Panama requires CITES species control certificates from the country of origin and approvals from ANAM (Areas Protegidas at Autoridad Nacional del Ambiente, Curundu, tel. 532-7223) and MIDA (Cuarentena Agropecuaria of Ministerio de Desarrollo Agropecuario, Curundu, tel. 232-5340).
For a list of Panamanian consulates providing more information, go to Embassyworld, http://www.segumar.com/ or http://www.mire.gob.pa/
This information is subject to changes, specially since government entities regularly change telephone numbers or locations without previous notice and 99.99% of the time do not provide information by email or fax. It is provided for informational purposes only and not intended to serve as advice. Travelers should rely instead on their own inquiries at the relevant entities at least 1 month before the date of travel.

Tuesday, November 21, 2006

Panama's Good Value Lures Americans in Search of the Good Life



http://abcnews.go.com/Travel/story?id=2624274&page=1

Live Like a King for Dollars a Day

Panama's Good Weather, Good Beaches, Good Value Lures Americans in Search of the Good Life

By JEFFREY KOFMAN





PANAMA CITY, Panama, Nov. 2, 2006 —
- Joe Urby and his wife, Stacey Waldren, call it their four-year plan. They live in San Antonio, Texas, with their three children. But when their youngest son heads off to college in four years, the Urbys plan to pull up stakes in Texas and head to Panama.
"We want to make some decisions now, so that four years from now we've got a whole new life planned out for us," says Joe, a self-employed businessman.
Watch the story tonight on "Nightline" at 11:30 p.m. ET.
At age 47, Urby and Waldren are too young to think of retiring. They do not plan to move to this small Central American country to sit idly by the sea.
"My plan is really to take over my life again and for us to reinvent our life," says
Waldren.
Waldren and Urby are just two of 250 people who paid close to $1,000 to attend a four-day conference in Panama City, Panama, on the secrets of retiring -- or reinventing life -- in exotic locales like Panama. The conference is sponsored by a group called International Living, which says it is in the business of helping people make their dreams come true. Most of the attendees are Americans.
"We have the retirees or people who are thinking about retiring," says Suzan Haskins, International Living's resident Panama specialist as she checks off the different groups at the conference. "We have the second-home market. We also have just pure investors. All are people who are looking for an opportunity to buy something they can't buy in the United States."
And that's the common thread here: affordable retirement, affordable investment.

Avoiding 'Poverty or Worse'


Take a trip 45 minutes out of Panama City to the seaside community of Coronado, and Panama's appeal becomes obvious. Fred Morris, a retired minister, and Ron Davidson, a former computer programmer, take a spin in a golf cart at sunset. Davidson and his wife have just built a three-bedroom home that backs onto a PGA-certified golf course. The beach is a few blocks away, the club swimming pool is just down the street, so are the riding stables.
In Florida, this gated-community lifestyle would be within reach only for millionaires, but here the mathematics are very different.
Fred bought his five-bedroom home earlier this year for $160,000. In Panama, Davidson and his wife have discovered they can live like a king and queen for less than a princely sum. They paid cash for their home, and their monthly expenses -- including two cars, insurance, food, a daily maid and a gardener -- come to just
$1,200.
"I couldn't afford to live in Orlando where I was," says Fred. "On my pension, I simply couldn't. It would have been poverty or worse, whereas down here we are living a very comfortable life on the same amount of money."
For years, small numbers of adventurous Americans have migrated south to Mexico or Costa Rica in search of affordable and exotic retirement alternatives.
But today, as the baby boom generation contemplates retirement, moving to Latin America has become an increasingly appealing option. The reason: Future retirees look at their bank accounts and prospective pensions and realize they simply don't add up.
"I personally don't want to work until I'm 65 or 70 years old to try and depend on a social security program that may not be there," says Urby. "I'd rather work to be 50 years old and reinvent myself in a different type of business or enterprise in a Latin American
country and only need half as much income to live off of. That's exciting."
And that explains why the skyline of Panama City is itself being reinvented almost overnight. This city of just a million inhabitants now has 30 new condo projects under construction and another 70 approved, including two waterfront towers that will be 100 floors high.

Political Calm and Profitable Canal

Developer José Bern steps off the construction elevator on the 17th floor of condo tower shooting skyward. In a few months his Grand Bay Tower will cap at 27 floors.
The condos here are all sold. Bern says he didn't even have time to open a sales trailer or launch a marketing campaign. The inquiries flooded in over the Internet, and 95 percent of the buyers were Americans.
The United States has invaded Panama several times: with armies. The current American invasion has
been much calmer but equally surprising. Bern says it began quietly about three years ago, with one or two inquiries from Americans a month. Now it is constant.
Why Panama? There is terrible poverty here, but by Latin American standards Panama is relatively safe and politically stable. The U.S. dollar is the currency, so there is no need to convert. And many of the doctors are U.S. trained. It helps that dinner can be had for $10 or less. A daily maid costs $150 a month.
This country of 3 million is best known for the 51-mile canal that allows ships to pass from the Atlantic to the Pacific in just hours. When the United States handed control of the canal to the Panamanians in 1999 there were ominous predictions of failure.
Instead, the canal is busier than ever, and its safety record is better than ever. Last year it paid a dividend of more than $400 million to the Panamanian government. Which explains why
last month the people of Panama enthusiastically approved a referendum that allows the government to proceed with a $5.2 billion expansion that will allow bigger ships and more ships to make the crucial crossing. That is certain to bring more jobs and more investment.

'More Difficult If You Can't Speak the Language'

What about the fine print? Suzan Haskins, the International Living representative in Panama reminds prospective buyers that this is a foreign country. The official language is Spanish.
"It's more difficult here if you don't speak the language," she says. "You will find that everyday things that you did back home are much more difficult here. Here in Panama everybody speaks English at the bank, but having a worker come into your house and trying to tell him what's wrong with your washing machine or trying to get your telephone service fixed or something like that, those little
things are much more difficult if you are in a place that you don't speak the language."
Haskins says this kind of retirement is for Americans with a sense of adventure.
"I think most people who do it have already traveled," she says. "A lot of people have lived in different places around the world or they have taken vacations in foreign countries so they already kind of know what to expect."

Distance Is the Downside

As dusk settles over Coronado, Fred Morris and Ron and Mayra Davidson share a beer and reflect on their choices.
For Fred, the move has been easy. He was a minister in several Latin Americans countries and he speaks fluent Spanish. Mayra Davidson is from Panama, so for her this is a homecoming.
Although Panama City is just three hours from Miami and Houston, Ron Davidson says the hardest part for him is
being away from family.
"The downside is that our kids are in the States and our grandkids are in the States, so we don't get to see them often," says Ron. "It's a bigger price than we thought."
Fred Morris misses his family too, but he says that with a daughter in Washington and a son Oklahoma City, he didn't get to see his family more than once a year when he was in Orlando. Now, he says, the entire family has a free place in the tropical sun when they come to visit in Panama.
"We just love the place," says Fred. "My wife and I, we couldn't dream of a better place."
Are they on the leading edge of a new American invasion here?
"We fear that," says Fred Morris with a wide grin. "We fear it."
They all laugh as they look around and reflect on their reinvented lives.

Travel Panama
The mix of warm weather and affordable housing is luring a growing number of Americans who are relocating to Panama. (Kathryn Cook/AP Photo)

Sunday, November 12, 2006

Pensionado / Rentista Visas

Requirements for the application of the Retiree / Rentista Visa
1) Power of attorney and request by the attorney. Power of attorney must include the information about the applicant (exact address, telephone number...) and full name of parents and nationality. All the information about the attorney must be specified (Office address, telephone and fax number), complete information of cheques that are provided (number of checks, name of nak, date and amount) of all documents enclosed and the legal basis.
2) Good Health Certificate, issued within the three months before the date of the application (must have date, signature and stamp with the name, signature and registered number of the physician)
3) Police record from the country of origin (only when the applicant has less than two years of continuous residence in Panama).
4) Two (2) sets of photocopies of the entire passport, also authenticated by a Notary Public.
5) Four (4) recent passport-size pictures.
6) Certificate issued by the National Bank of Panama, stating that the applicant earns a minimum monthly return of Seven Hundred and Fifty dollars (US$750.00), solely coming from the interest yielded by the certificate of deposit, without any encumbrance of any kind. The certificate deposit must show it being for a minimum term and date of maturity of five years.
7) Copy of the certificate of deposit or contact, authenticated by the National Bank of Panama.
8) Sworn statement about Personal Background signed by the applicant and the Immigration official receiving it (the form may be downloaded in a .PDF file from here).
9) Two sets of copies of all documents submitted, except for the passport.


For the Pensioner / Pensionado visa, items 1), 2), 3), 4), 8), 9) are required. In addition, the following are required:

a) Police record or Certificate of Disposition from police or court in applicant's place of origin.
b) "Duly authenticated document, which certifies the following:
-The applicant's condition as retired or pensioner from a foreign government, international organization or private entities.
-That the applicant receives a monthly pension of no less than US$500 or its equivalent in foreign currency, plus US$100 for each dependant
-In the case of persons retired or receiving a pension from private entities, a document from the corresponding authority certifying the existence of said entity must be submitted
".


NOTE:
A) In case that the application includes dependents (wife and minor childrens), the requirements for Immigrant Visa as Dependant of Resident must be enclosed, along with two sets of additional photocopies.
B) All documents issued abroad, should be submitted duly apostilled or authenticated by the Embassy or Consulate of Panama in the country that issued it and by the Ministry of Foreign Relations of Panama.
C) All documents issued abroad in language besides Spanish, must be translated by a certified interpreter recognized by the Minister of Justice.
D) Every foreigner must be duly registered in Immigration Movement Section for which the following must be submitted:
* Two (2) passport-size pictures
* Copy of the page of general information in the passport and that which contains the last seal of entry into the country
* US$1 for registration
* Answer the registration questionnaire.
Schedule for submission of documents 8 a.m. to 1 p.m..
FOR RENEWALS OF THE 5-YEAR PASSPORT, items 1) to 9) must be submitted.


Provided by the Directorate of Immigration as of January 13, 2004, and subject to changes


Updated information in http://www.migracion.gob.pa/eng/service_popup.php?id=52

June 30: Last day to file for property tax reductions

June 30: Last day to file for property tax reductions June 30, 2006 is the last day to file for an assessment ("avaluo") in order to reduce for 5 years the amount of property tax payable. This is specially useful for properties about to be sold or which 20-year tax exemption is about to expire. Applicants must provide with their written request: 1) Title certificate not older than 90 days, 2) Appraisal report by a company from a list of pre-approved appraisers. The list of requirements in Spanish from the Catastro office and approved appraisal companies can be downloaded from http://www.lombardicambra.com/forms/cat_avaluo.pdf
.

Panama traffic regulations

Panama traffic regulations


>
> so where does a person find this unknown book of driving laws?
> Never heard of it before.
>

Panama traffic laws that a copy of the Traffic Regulations (Executive Decree 160 of 1993) be inside the car. Non-compliance is fined US$15.

A copy of the Regulations are available online

In addition, foreigners who have more than 90 days since their last entry to Panama must have a Panama license which duration is the same as that of their Immigration card.

New requirements for Special Permit Extensions

New requirements for Special Permit Extensions


Immigration Resolution 38 of April 26, 2006, has been enacted to regulate the granting and renewal of Special Permits and replace Resolution 2975-DMYN of June 6, 1996.

The application must be submitted in person at the Immigration or with notarized, in stamped paper, enclosing:
1) Power of attorney,
2) Copy of passport,
3) Certified check to the order of the National Treasury for US$300, if the applicant is at least 18 years old,
4) Letter from a resident who acts as sponsor of the applicant and is responsible for all the expenses and the eventual repatriation to the country of origin,
5) Evidence of economic solvency of the sponsor,
6) Copy of cedula or residence card of sponsor,
7) Copy of utility bill of the sponsor, to verify his/her location,
8) Immigration Background ("Declaracion Jurada de Antecedentes") form

Special permits may be granted for up to 1 year and only under exceptional circumstances may be extended.

For the full text, see http://www.asamblea.gob.pa/GACETAS/2000/2006/25553_2006.PDF








Immigration office at Cuba Ave. & 38th Str.


Reforestation visa is restablished

According to a media report of May 1, Panama Immigration signed a resolution which restablishes a special visa granted to those who invest US$40,000 in a forestry project.


Since the visa was abolished by a Law, it is not clear how can a mere Resolution go against a law.


Full text in Spanish http://mensual.prensa.com/mensual/contenido/2006/05/01/hoy/panorama/585678.html


REFORESTACIÓN.


Migración restablece la visa forestal

Sady Tapia
stapia@prensa.com

Una resolución que restablece el otorgamiento de visas forestales a extranjeros que tengan interés en invertir en Panamá fue firmada por el director de Migración, Ricardo Vargas, para promover la inversión y la actividad de reforestación en el país.



Immigration Resolution 39 of April 26, 2006, has been enacted to grant the Small Investor Visa to investors in forestry businesses. See Comments for more details.

Before adopting a child in Panama...

Panama Requirements for Adoption
1. Application through a Panama attorney-at-law stating the intention and the reason to adopt a boy, girl or teenager, and specify and sex of the minor that they wish to adopt,
2. Socioeconomic and psychological studies conducted by an institution certified in Panama,
3. Request for criminal background check,
4. Medical certificate of the parents issued by a Panama government hospital,


Assistants at Divino Nino home for children
5. Evidence of current labor, stating position, salary, seniority and benefits. In its absence, certified copy of the last two tax returns or banking references,
6. Birth certificate and marriage certificate between persons that comply with the requirements of Article 53 of the Family Code,
7. Two extra judicial affidavits by persons that know the parents (for common law marriages, the affidavits must testify to said fact),
8. Postcard-size pictures of the rooms and outside of the home (glued to a white sheet),
9. Recent picture in color of each of the applicants, as well as of the other residents of their home,
10. Written acceptance of a three (3) month inspection from the declaration of adoption, on a basis as regular as the judge considers appropriate,
11. Express acceptance of a temporary living with the boys, girls and teenager to be adopted,
12. For Panama nationals, certificate of having received training as adopting parents. For foreigners, certificates issued by the central authority of his/her country of residence, or as required by the Ministry,
13. For applicants resident abroad, certified copy of all passport pages and authorization to adopt issued by the central authority of his/her country of residence,
14. For applicants resident abroad, certified copy of the authorization to enter the adopted child into his/her country.

Children at SOS Villages
All documents must be submitted in a single folder with documents placed in the same order as in this list.
Non-Panama documents must be certified with Apostille from the state of origin or by Panama Consul in said state.
Non-Spanish documents must be accompanied with translation by a translator accredited in Panama.

Requirements for Adoption by National Directorate of Adoption (tel. 279-0667) under Article 297A of the Family Code translated by Alvaro Aguilar as of December, 2004.

Media reports about the situation of adoptions in Panama appear in Spanish in:
300 Children without Parents http://www.prensa.com/especial/2003/padres/1158106.html
Waiting for a new family http://mensual.prensa.com/mensual/contenido/2005/05/01/hoy/portada/206330.html
Obstacles to adoption process: procedure can last from 7 months to 7 years http://mensual.prensa.com/mensual/contenido/2005/01/29/hoy/portada/119483.html
Adopt me, please! http://www.prensa.com/Actualidad/Bebes/2005/11/28/
2000 abandoned children http://www.prensa.com/t.asp?d=060226p515878
.

U.S. company provides real estate investment opportunity in Panama City

Condo Hotel Investors, LLC = Opportunity


Condo hotel investment in Panama City, Republic of Panama is an excellent opportunity. The condo hotel concept is new to Panama City and we are excited to offer this investment to interested parties.


Recently, several exciting headlines have appeared in many national and international publications. All discussing "off shore" real estate investments that appeared to be relatively easy to enter, could be safely held by foreigners, all while providing stellar profit potential. Those articles piqued the interest of the principals of the company, resulting in an in-depth "investigation".


After developing residential and commercial real estate for more than 35 years in the United States, the principals of the company decided to venture out of the country to discover new, exciting and profitable opportunities. The company has spent over two years investigating opportunities in Central America, specifically Costa Rica and the Republic of Panama.


The company has determined the Republic of Panama offers the best opportunity for safe investment with substantial upside profit potential. After reading the additional information, we feel you will agree.......




For more information on condo hotel investments in Panama, go to http://www.condohotelinvestors.com/


Opening your bank account in Panama

BANK ACCOUNT REQUIREMENTS IN PANAMA


Vista de la Ciudad de PanamáForeigners are subject to "Know-Your-Customer" (KYC) requirements when opening an account with a bank in Panama. Subject to changes according to internal procedures of each bank, applicants must appear in the person at the bank for a personal interview and provide :

1) 2 Letters of Reference from 2 other banking institutions, authenticated with Apostille or by Panama Consul, addressed to the bank in Panama,

2) Copy of the passport and another picture identification (providing the original documents for verification)

3) Tax return or other document which will help the bank identify the income range of the applicant and compare it with the movement of account.

The Panama Superintendent of Banks has a website

http://www.superbancos.gob.pa/ where all institutions licensed to provide banking services are listed. Institutions which do not appear in this listing act in violation of local laws and depositors risk losing their deposits.

In addition, Panama banks owned by investors holding publicly-traded shares, disclose their financial statements and relevant events to the Panama Stock Exchange http://www.panabolsa.com/

, which helps to gauge their financial solvency.

Processing Zones and City of Knowledge provide business opportunities


Panama hopes processing zones mimic maquiladoras' export success



BY LARRY LUXNER
JOURNAL OF COMMERCE STAFF


WASHINGTON -- When people talk about free- trade zones in Panama, they usually mean the Colon Free Zone -- a heavily guarded, merchandise-packed city within a city, which last year imported and re-exported $10.6 billion worth of electronics, clothing, liquor and other luxury goods.


But now, Panamanian officials are promoting a different animal, called Export Processing Zones. These sprawling industrial parks -- housed in former U.S. military buildings now being turned over to the Panamanian government -- hope to copy the success of Mexico's border-area maquiladoras, nurtured by preferential tax and duty treatment.


Speaking Wednesday to 100 potential investors at a conference in Washington, Nicolas Ardito-Barletta, administrator of Panama's Interoceanic Regional Authority, outlined his government's plans to boost the relative importance of manufacturing in Panama's service-oriented economy.

Alvaro Aguilar, a Panama City attorney attending the conference, said EPZs could also offer data-processing and database maintenance services under a draft law that Panama's Ministry of Foreign Affairs is preparing.


"It's not just apparel and sweatshops. Under this law, they'll get all the same incentives and benefits as if they were doing apparel," he said, noting that "now, with Y2K (Year 2000 computer) problems, they're hiring tons of programmers from India. Our idea is that Panama can do that, too."



Click here for full text.