Being located near the Latin American market, the republic of Panama is the ideal Country for financial privacy, with no taxes, either personal or corporate. According to the international living’s annual global retirement index, Panama is ranked No 1 country for investing.
There is no need to change currency in Panama, as the US dollar is the national currency. Officially the currency is balboa, but it is available only in the form of coins which is identical to the size of the US coins. This is also one reason why the economy is stable and inflation is very low.
Here are the reasons, why you need to invest in Panama:
1. Panama has excellent infrastructure, hence the Panamanian highway is excellent and takes you to a variety of destinations, including Azuero Peninsula and Pedasi. Panama also is financially very sound, with the help of ATM machines you can access any account anywhere in the world.
2. With 90 commercial banks, Panama is the second largest international banking centre in the world, after Switzerland. Panama is also the second largest home to offshore corporations in the world next to Hong Kong.
3. Panama’s geographical position is very unique, no earthquakes or hurricanes occur; hence any investment done here is very safe. Panama has one of the best and affordable medical treatment facilities, very much similar to the facilities available in US, most of the doctors speak English, the medical insurance polices are reasonably priced. You can drink tap water in Panama, which is very rare in Latin America
4. The communication facilities are excellent, Panama has the best fax, phone, cellular and internet connections. Panama is a shoppers paradise, where you can find almost anything!
5. Panama has excellent schools for your kids; Panama also has 3 American accredited schools, oxford international, balboa academy and the international school.
6. In Panama city English is widely spoken, and Spanish is the official language. Situated near North America, Panama is around 4 to 5 hours by flight from US.
7. There are daily flights form NY, Miami, Houston, Orlando and LA. There are weekly flights from Montreal and Toronto too.
8. Foreigners can sell and buy property in Panama easily and legally, and are protected by the same rights as enjoyed by Panamanian citizens, the real estate prices are very reasonable
9. Panama is financially secured than its neighboring countries. The annual inflation for the past 35 years is around 1.5% and in the 1990′s it exceeded 1% per year. The main source of income for the government and the majority of the people is the ‘Panama Canal’. The annual revenue by means of the Panama Canal has been $650 million, where most of the money is used for the Panama Canal’s regular maintenance. The canal is due to be widened and bigger locks are to be built, which would automatically bring in more revenues.
10. In order to attract foreign investment, the government of Panama has set up special economic zones and introduced attractive programs which give people a tremendous opportunity to set up businesses in Panama.
Panama is next big tourist destination. Come spend your Panama vacation in Gamboa Resort, in the rainforest luxury. When traveling the interior, stay in Gran Hotel Nacional, the best hotel in David, Chiriqui, Panama. Now is also the best time to invest in Panama real estate.
Article Source: articlestreet