Live and invest in Panama: 4 key points to consider.
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by Olga
- May 21, 2020
- Real Estate
- 0
There is not a perfect country to live and invest in. You can research and find several negative and positives points in all countries in Latin America, but our experience have shown us that Panama in general is a country that is easy to move in and live without too much hassle.
Panama is one of those countries that are very comfortable to live as a foreigner and at the same time, contains more than enough reasons to make investments, such as its stability, economic growth, US Dollar currency and an airport that serves as an international hub that allows easiness in your travels.
That is why many foreigners have chosen Panama as the country to retire, International Livings Global Retirement index ranks Panama as one of the best countries to retire due to the warm weather, the economy, closeness to US, the low tax burden and reasonable cost of living even in 2020.
If you have in your mind the idea of living or investing overseas, here we provide you 4 key points on why you should consider Panama as the best candidate:
1. Panama Immigration is more flexible than other countries
In our opinion Panama has one of the most flexible immigration policies in all Latin America. Its process is quick and straightforward, and there are many immigration lawyers that can help you to obtain the residency visa easily once you provide all the requirements.
The country offers several forms to obtain residence and you can choose which process is more suitable for you depending on your profession, your country of citizenship or if you have plans to make an investment or establish a business. You also have the chance to obtain Panamanian citizenship once you have been a permanent resident for 5 years.
2. Panama is one of the easiest countries to establish a business
Panama overall has been taken in reference as one of the countries that you can start a business without many complications. Many economists and specialists states that due to the canal and the free trade zones, Panama has a strong position for international commerce, making it easy to develop business.
Many companies also choose Panama to establish their international headquarters because of tax benefits. For starters, Panama has a territorial tax law, so all income made outside of Panama is not taxed. Also, for those companies who rely on free trade zone infrastructures, they usually experience an easy environment to conduct operational activities, and that the labor and cost of living is relatively lower compared to other countries.
3. Panama will keep growing
The development of the canal expansion, the new airport terminal, the new convention center, and new metro lines are just the surface of many other projects that are in current development in the country.
Panama keeps investing in their infrastructure and they keep betting on their strategic location to become the only hub in the Americas, being a strong logistical and financial center in the region.
There are other big infrastructural projects coming in such as the beach corridor, the metro line 3, the 4th bridge over the canal, that shows how Panama is becoming a modern metropolitan nation, this will keep bringing value to the economy and at the same time, more real estate value appreciation in both city and beach projects.
4. Weather and ease of access to the beach
Many people and expats who lives in Panama always tell us this is a big plus, how amazing is to have a warm weather all year long and at the same time, you can enjoy a city life and access to beautiful beaches in less than one or two hours, and all this costing a fraction comparing it with many other countries. Even though is still a developing country, Panama has all the modern conveniences you need to live a very comfortable life and to make business.
