Tropiland Panama Blog Investment and retirement real estate specialists in Azuero peninsula, Panama. Statistics Unique Visitors: Total Unique Visitors: Outgoing: Total Outgoing: 4 0 92 2041

Articles from Tropiland Panama Blog

Panama's Health Tourism Boom 2008-01-03 06:55:00 A new kind of tourism is sweeping into Panama, but these visitors are not just coming for sun and fun. Offering first-rate health care at cut-rate prices, Panama is attracting the latest kind of traveler: the medical tourist. Medical tourism is a rapidly growing, multi-billion dollar worldwide industry. Countries like India and Thailand have long been attracting patients from developed countries looking to escape the high prices and long waits at home, providing high-quality health care at a fraction of the price. Panama is one of the latest countries to emerge on the health tourism scene, offering US-trained doctors, state-of-the-art infrastructure and equipment, plus a distinct advantage --- proximity to North America. With as many as 45 million Americans uninsured, and Canadians waiting up to two years for critical procedures, many are looking south for alternatives. “The demand is very strong, and we haven’t even begun to scratch the surface,” says Rudy Rupak, president of ... Health

South Of The Border, The Market's Still Hot 2007-12-26 09:55:00 By June Fletcher for The Wall Street JournalThe housing slump has sent many Americans shopping south of the border. Existing-home prices in the U.S. dropped 4.5 percent in the third quarter from a year ago, according to S&P/Case-Shiller. But they are still climbing in much of Latin America and the Caribbean.Buyers are being enticed by the kind of double-digit appreciation that has all but disappeared in the States. In addition, a growing number of new developments are targeting Americans looking for good deals and a lower cost of living. Since 2003, annual home-price appreciation has been running at 20 percent in the Dominican Republic, and could reach 50 percent in the near future, according to Boomerang Unlimited, a Napa, Calif., real-estate investment advisory firm.In San Pedro, Belize, the average price of a 2,200-square-foot home was $697,500 in September, up 18.6 percent from a year ago, according to a study by Coldwell Banker; the price of a similar property in San Jose, Cos ...

Banco General and Banco Continental Merge 2007-12-26 09:34:00 By Eric Jackson of "The Panama News"Once BANISTMO was sold to HSBC, the largest Panamanian bank left standing was Banco General, followed by the Motta family's Banco Continental in second place. But in these days of international bank consolidation, those two institutions felt that they were too small to survive the competition, even if their political connections had given them a large degree of access to social security and public employee pension funds. Thus the two companies have signed an agreement for a stock swap merger, in which a new company will be created under the name of Banco General, with Banco Continental shareholders getting 39 percent of the stock and Banco General owners 61 percent.The result will be a bank with about $7 billion in deposits, $800 million in assets, 300,000 depositors and 60 branches. Looked at another way, via interlocking directorates and family interests in common, it's a merger of several of Panama's richest families and biggest companies.In th ...

Why Investing Outside the U.S. Makes sense Now 2007-12-03 19:27:00 Source: tropicalpathways.comFor many years the U.S. real estate market has been a consistent performer. A stable government, economic growth and investor-friendly laws have led to dramatic increases in real estate values. Will values continue to rise as sharply in the future? Only time will tell. However, there are many factors that contribute to the theory that foreign markets will offer greater real estate and business investment opportunity in the coming years, including:1. U.S. ECONOMYIf you haven’t picked up a newspaper recently, you might not realize that the U.S. is dealing with extreme volatility in the financial markets as a result of the subprime mortgage meltdown. Underlying it all are some serious issues with the U.S. economy that may dramatically limit the growth potential of U.S. real estate over the next 10 years.Current U.S. credit crisis Radical changes in loan-to-value percentages, debt-to-income ratios and other key loan qualifiers have dramatically changed the sco ...

The Facts: Panama Is Booming 2007-12-02 07:43:00 Source: Joachim Bamrud - The Latin Business Chronicle (Nov 26,2007)Brazil and Mexico may be getting most of the foreign investor attention in Latin America these days and Chile continues to be seen as the region's free-market champion, but Panama isn't doing so badly, either.In the past few months, Panama has topped several key regional rankings. In addition to being named the most globalized country in Latin America last week by Latin Business Chronicle, Panama recently was ranked the best country for exporting and importing containerized goods in Latin America by the World Bank, the fastest-growing tourism market in Latin America by the World Tourism Organization and last, but not least, the fastest-growing economy in Latin America by the International Monetary Fund and the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). That comes in addition to being ranked third in Latin America (after Chile and Mexico) when it comes to competitiveness, according ...

Banking In Panama : An Overview 2007-11-04 07:02:00 Source: panama-travel-bureau.com The Republic of Panama continues to introduce legislation that will enhance its image as an international financial services centre or, to use the usual nomenclature, offshore finance centre. Legislation covering Private Foundations (an alternative to trusts) and Captive Insurance (first such legislation in Latin America) have been promulgated. Panama's comprehensive banking law provides the last building block in a structure of services that makes Panama South America’s all-round offshore finance centre. Panama introduced a comprehensive banking law (which covers local trust companies as well) in February, 1999, replacing one that had been in place since 1970. The National Banking Commission that previously issued licenses has been replaced by a Superintendency which comprises a Board of 5 Directors and a Superintendent. In addition to increased investigative powers, the new law has tightened general controls and regulations and brought the country ...

Retiring Outside America 2007-10-15 14:13:00 By Lisa Bonos The Washington Post (Oct 14, 2004)Mary Strociek, 49, and her husband, Matt, 67, had their hearts set on retiring to Cabo San Lucas, Mexico. They bought a condo there in the late 1980s "when it was a quiet, sleepy village," Mary Strociek said.But then others discovered the beauty of the area and the place boomed. "We decided to get out of there," Mary said.Avid sailors, the couple hopped on a friend's 50-foot boat and cruised the Caribbean. They checked out all of the Virgin Islands, St. Martin and St. Bart, and yet were drawn back to Mexico.Then they discovered Panama. The Strocieks were overwhelmed by the breathtaking sights."It's one of the few places I can see the curvature of the Earth," Mary Strociek said of the view from her property, which she says looks out on nearly 300 miles of coastline.Won over, the Strocieks sold their Chicago home and built a house near the mountain town of El Valle, where they now live, she explained in a phone interview from her pool.Two ... America

Panama FDI grows 19 percent in first-half 2007 2007-09-20 08:32:00 Source:Reuters Investing News, Wed Sep 19,2007PANAMA CITY, Sept 19 (Reuters) - Foreign Direct Investment (FDI) to Panama grew 19.4 percent in the first six months of this year compared to the same period in 2006 to $598 million, the government said on Wednesday. The banking sector and the Colon Free Trade Zone, one of the world's biggest import-export parks, were the two biggest earners, attracting $137.8 million and $180.8 million respectively, the Comptroller General's office said. Foreign direct investment is one of the principal drivers of Panama's booming economy, which according to the U.N. Economic Commission for Latin America and the Caribbean (ECLAC) will have the highest growth rate in the region this year. Panama is expected to post 8.5 percent growth this year, buoyed by a $5.25 billion expansion of the Panama canal, a growing real estate market and continued growth in the banking sector, the U.N. says.The data speaks volumes.See how you can benefit from this ec ...

Mejorana Festival Ready To Kick-off. 2007-09-19 21:49:00 In 1949, Professor Manuel F. Zárate, with a group of friends from his native land, Guararé, initiated a tradition that has become the most renowned festival in the Republic of Panama. Today, after more than fifty years, The National Festival of the Marjorana in Guararé continues to cultivate the Panamanian folklore and protect the customs that are an integral part of the life in the interior provinces of Panama, and the Azuero peninsula in particular. Along with the local holiday of the Virgin Saint of The Mercy, the Guarareños organize each year an event that atracts in this small town of the Peninsula a great number of folk delegations from all parts of Panama.The common objective: to enjoy, to project, and to preserve the Panamanian folklore. The Festival includes musical presentations, contests, folk dances and songs, bullfights, oxen wagons parade, popular dances, and many other folk art expressions. Guararé, a pleasant, welcoming town, with naturall musical ability, each ...

Panama Insurance Market In Need Of Re-Structuring 2007-09-16 20:15:00 Source:Panama Visitor On-LinePanama’s insurance market is currently facing the need for restructuring in the face of an upsurge in the economy, the influx of foreigners who have a different attitude to insurance than Panamanians and changes within Panama itself where people are beginning to demand higher indemnities for damages. Irving Ureña, vice-president of the company Internacional de Seguros at the opening of seminar of the National College of Insurance Brokers said "Five years ago it would not have occurred to anyone to file a suit for a million dollars in damages. Now we are seeing it happen. He cited two recent examples; the bus fire in which 18 people died and the oil-spill of Petroterminal de Panama in the Lagoon of Chiriqui Grande. He added that another important factor is the influx of foreign residents who are buying insurance policies worth millions of dollars because that is the sort of coverage they ne ...

Panama Builds on its Economic Boom 2007-09-12 18:01:00 Source: PanamaGuide.comA $10bn project outside the capital is the latest sign of US and Canadian hunger to invest in residential property developments. President Martín Torrijos of Panama last month unveiled what could become one of the biggest investment projects in the country's history, with a value of up to $10bn. The creation of an urban centre the size of central London on the outskirts of Panama City is the latest sign of an economic boom that has invited comparisons between Panama and bigger international business centres, such as Dubai.A specially created government agency will provide residents with streamlined regulation and there will be tax incentives for selected industries. London & Regional, the UK-based company that will develop the site, said the project, on the former Howard US air force base, would reinforce Panama's attractions as a centre of international business. Ian Livingstone, of London & Regional, said it would combine industrial, retail and residenti ...

Panama Canal Expansion Under Way! 2007-09-05 16:54:00 Source: Panama First AlertBOOM! That's the sound that signaled to the world that the Panama Canal expansion mega-project has begun . The day: Monday, September 3, 2007—the 30th anniversary of the signing of the U.S.-Panama treaty better known as the Torrijos-Carter treaty. Panama President Martin Torrijos "pressed the button," causing a powerful explosion to rip apart Cerro Paraiso (Paradise Hill), where excavation for the $5.25 billion expansion has already begun.Learn more on the Panama Canal Expansion ProjectSome 30,000 people were present for the symbolic act, including VIPs such as Colombia President Alvaro Uribe; El Salvador President Antonio Saca; Nicaragua President Daniel Ortega; and Honduras President Manuel Zelaya. A guest of honor, former U.S. President Jimmy Carter arrived on Torrijos' presidential plane. Carter co-signed the Torrijos-Carter treaty (along with Martin Torrijos' father and then-dictator of Panama, Omar Torrijos) in which the U.S. agreed to hand over the ...

How to be a Smart Panama Investor 2007-08-18 13:48:00 Here are 8 great attributes to any smart Panama investor. Coming to know a lot of these folks, and with many of them as personal friends, it can be helpful to look at the commonalities of those who truly succeed in the Panama real estate market, to delineate them from everyone else.Buying real estate in Panama can be frustrating, there's no doubt about it,and everyone, whether they're a smart investor or not, thinks they want something "special". In reality though, with more and more competition in the market, that "special" deal is getting harder and harder to find. Investment pportunities that are "special" most often are not on the market for long because they sell so quickly. Sometimes they're sold through a broker but more often than not, they're sold direct (from seller to buyer): the listing not even making an appearance on the public market.The Panama real estate market today is commonly referred to (by me) as the Wild Wild West. It's an era where modern day gunfighters, ...

Land Possession Rights In Panama: Are They A True Investment Opportunity? 2007-08-17 08:40:00 It is a well known and documented fact that Panama real estate prices have risen significantly (and in some cases prohibitively) in the last year or so. This is more the case for beach front properties in Panama or properties that are now in the "second stage" of development; "First Stage" being the initial investor rush that bought bare land and have since then subdivided or developed housing projects.The days of buying beach front land in Panama for cents per meter are now long gone. In the case of the Azuero peninsula, titled beach front properties less than three hectares in surface and less than ten dollars per square meter are almost as rare as alligators in Boquette.So the question a lot of potential buyers of real estate in Panama asking is: "Can I still get in the Panama real estate boom and benefit? Is there a true investment opportunity in Panama real estate? Will buying land in Panama give me a solid return on investment?" There is a growing number of Panamanian real estat ...

MSN On Retiring In Panama: "Best Place For Retirees" 2007-08-07 19:22:00 Source: MSN Money, Aug 7, 2007Panama is one of the best places in the world for retirees today, combining a low cost of living, near-perfect weather and one of the world's best discount programs for retirees, with up to 50% off everything from public transport to movies, mortgage rates, doctor's visits, electricity, restaurants and airfares.When you compare Panama with its neighbors, you'll see that it has more amenities than traditional retirement spots such as Mexico and Costa Rica, with lower costs and crime rates. In Panama, you'll encounter less red tape and less interference from local authorities.To encourage long-term foreign investment, Panama requires no special authorizations, permits or prior registration for foreign investors. The Investment Stability Law, passed in 1998, protects foreign investors from any change in tax, customs, municipal and labor rules for a period of 10 years after an investment is registered. Major companies doing business in Panama include Feder ...