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Panama City
Office Information |
First Street, Building L-18,
Los Angeles neighborhood,
Panama City
Office: (507) 260-4813
Toll-Free: (866) 702-5867
Fax: (507) 260-1557
Email Us
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History
In 1501 the discovery of Panama by
Spanish explorer Rodrigo
de Bastidas marked the beginning of the
age of conquest and colonization in the
isthmus. However, it was his first mate,
Vasco Núñez de Balboa, who was to be
immortalized in the
history books, following his discovery
of the Pacific Ocean
12 years later.
On his fourth and final voyage to the
New World in 1502, Christopher Columbus
went ashore in present-day Costa Rica
and returned from the encounter claiming
to have seen ‘more
gold in two days than in four years in
Spain.’ |
Although his attempts to establish a
colony at the mouth of
the Río Belén failed due to fierce local
resistance, Columbus petitioned the
Spanish Crown to have himself appointed
as governor of Veraguas, the stretch of
shoreline from Honduras
to Panama.
Following Columbus’ death in 1506, King
Ferdinand
appointed Diego de Nicuesa to settle the
newly claimed
land. In 1510 Nicuesa followed
Columbus’s lead, and once
again tried to establish a Spanish
colony at Río Belén.
However, local resistance was once again
enough to beat back Spanish occupation,
and Nicuesa was forced to flee the area.
Leading a small fleet with 280 starving
men aboard, the weary |
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explorer looked upon a protected bay
23km east of present-day
Portobelo and exclaimed: ‘¡Paremos
aquí, en nombre de Dios!’ (‘Let us
stop here, in the name of God!’).
Thus was named the town of Nombre de
Dios, one of the first Spanish
settlements in the continental New
World. Much to the disappointment of
Columbus conquistador heirs, Panama
was not abundant with gold. Add
tropical diseases, inhospitable
terrain and less than welcoming
natives to the mix, and it’s easy to
see why Nombre de Dios failed
several times during its early years
as a Spanish colony. However, a
bright moment in Spanish exploration
came in 1513 when Balboa heard
rumors about a large sea and a
wealthy, gold-producing civilization
across the mountains of the isthmus
– almost certainly referring to the
Inca empire of Peru. Driven by equal
parts ambition and greed, Balboa
scaled the Continental Divide, and
on September 26, 1513, he became the
first European to set eyes upon the
Pacific Ocean. Keeping up with the
European fashion of the day, Balboa
immediately proceeded to claim the
ocean and all the lands it touched
for the king of Spain. |
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Located at
the geographical center of the American
continent, Panama joins North and South
America. It borders with the Caribbean
Sea to the north, the Pacific Ocean to
the south, Colombia to the east and
Costa Rica to the west.
Panama is the youngest area of land in
the Americas, having emerged from the
oceans approximately 3 to 10 million
years
ago. In biological terms, the fact that
Panama linked the landmasses of the two
Americas helps explain its incredible
biodiversity. Despite its small size
(75,900 sq. km. to be exact) Panama is
home to more than 10,000 varieties of
plants and
more than 1,000 species of birds. Panama
City is the only
major Latin American city with a
rainforest that is only
minutes from downtown. |
Climate
Panama has a warm, wet, tropical
climate. Unlike countries that are
farther from the equator, Panama
does not experience seasons marked
by changes in temperature. Instead,
Panama 's seasons are divided into
Wet and Dry.
The Dry Season generally begins
around mid-December, but this may
vary by as much 3 to 4 weeks. Around
this time,
strong northeasterly winds known as
“trade winds” begin to blow and
little or no rain may fall for many
weeks in a row.
Daytime air temperatures increase
slightly to around 30-31ºC
(86-88ºF), but nighttime
temperatures remain around
22-23ºC (72-73ºF). Relative humidity
drops throughout the season,
reaching average values as low as
70%.
The Wet Season usually begins around
May 1, but again this may vary by 1
or 2 weeks. May is often one of the
wettest months, especially in the
Panama Canal area, so the transition
from the very dry conditions at the
end of the Dry Season
to the beginning of Wet Season can
be very dramatic. With the arrival
of the rain, temperatures cool down
a little during
the day and the trade winds
disappear. Relative humidity rises
quickly and may hover around 90 to
100% throughout
the Wet Season.
Weather
Forecasting day-to-day weather in
Panama could be considered a waste
of time. There is always a 90%
chance that it
will be hot and sunny during the Dry
Season (mid-December to the end of
April), and hot and humid with about
a 40 to 50% chance of afternoon
thunderstorms during the Rainy
Season. No short-term weather
forecast is more accurate than this.
Currency
The Panamanian currency is the
Balboa and it is at par with the US
Dollar. Panama uses US paper
currency but has its own coinage,
with the same denominations, shape
and size as US coinage. US coins are
also accepted everywhere, but
remember to get rid of those
Panamanian coins on the way back to
the United States as the reverse is
not true! |
Restaurants
Panama's privileged geographic location
has made us a
melting pot of different cultures.
Nowhere is this more evident than in the
wide variety of fine restaurants
available in the
country. In Panama you can sample some
of the best cuisine
in Central America. Experiment with
exotic Far Eastern dishes, dine in the
finest European restaurants, or try our
delicious
home grown dishes and seafood. |
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• Asian
Cuisine and Sushi
• European Cuisine
• French Cuisine
• International & Bistro |
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Italian Cuisine
• Mexican & Latin American Cuisine
• Middle Eastern and Indian Cuisine
• Panamanian Cuisine |
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Seafood
• Steak & Grill |
Great Restaurants
Foreign residents really enjoy the
restaurant scene. As an
international crossroads, Panama
City has many fine, reasonably
priced restaurants with a wide
variety of cuisines. It’s fun just
trying to decide where you're going
to dine. If you’re homesick,
American restaurants and fast food
joints are everywhere including TGIF,
Bennigans, Wendys, Pizza Hut, KFC,
Subway, McDonalds, Burger King, Taco
Bell, Domino's, Dunkin Donuts etc. |
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"Retirement: Why Panama Is the New
Florida: Panama's quality health care,
low costs, and proximity to the states
are attracting American professionals as
a retirement haven."
Business Week, July 13, 2009
According to Business, Panama is the
place for professionals looking for a
comfortable retirement on a moderate
budget.
Come soon or at least get your money out
soon-according to
the new US bank law, as of January 2013,
the IRS will force foreign banks to
withhold 30% of funds leaving the USA.
Therefore, purchase property and get the
funds you need
out before then. |
American realtors here say that 70%
of their clients these days are
Americans looking to leave the USA
or set up a second residence because
they are worried about their future
and the future of their children.
Why Panama?
Panama is Safe
Panama has the lowest rate for
crimes against tourists in the
region. In Panama City, the petty
street crimes that hinder tourists
in other countries are uncommon.
Like every big city, there are some
neighborhoods to avoid, but in
general , you can go about Panama
City without worrying. This is true
for the rest of the country with a
few exceptions. Many top US and
international companies are making
their regional headquarters in
Panama in part because it is safest
country in the region.
An American-Style Infrastructure-
By-product of an Historical
Relationship
One of the best things about living
in Panama is the American-style
infrastructure. 50,000 Americans
made their home in Panama until 1999
when Panama took control of the
Panama Canal region and they left
their mark. Panama also has a long
history as a crossroads for Europe
beginning from Spanish colonial
times. Panama has a distinct,
delightful Latin-Caribbean culture,
but you will feel at home because
American and foreign influences
abound.
A Foreign Investor and
Retiree-Friendly Government
Panama has the best retiree benefits
plan in the world and also an
investor and foreigner friendly
government. Panama has always been
about business. President Martinelli,
one of the countries most successful
businessman is implementing
important changes needed to attract
investors and retirees. One of his
goals is to make Panama "the best
place to do business in Latin
America." Singapore is the model.
You will find many in the
entrepreneurial class are
US-educated and they understand and
know how to work with foreigners.
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The Panamanian People are "Globalized",
Peaceful, Friendly and Fun-Loving
Another reason why Panama is a great
place to live is because
of the Panamanian people -one of the
friendliest peoples in
the world. Due to Panama's position as a
world business and transportation
crossroads there's a long history of
living and working with foreigners.
Panamanians actually enjoy foreigners.
There's a saying that Panama was "born
globalized". Historically
a crossroads, Panama is home to
immigrants the world over. Different
nationalities and ethnicities get along
amicably. Most common are "mestizos" or
persons who are a combination of Spanish
and native Indian and blacks. There are
also sizable European, American,
Chinese, Jewish, Hindu and Arabic
communities. An estimated 20,000
Americans live in Panama. |
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Panamanians are fun loving: parties
are a national pastime. They have a
predilection for beauty and
elegance, visible
in many ways, from the delicacy of
their Indian handicrafts, to their
beautifully groomed women and Panama
City’s many attractive
neighborhoods.
The Dollar as the Currency: A Great
Convenience
Panama has the US dollar as its
currency, a great convenience. This
makes daily life more hassle free-
no need to calculate how much that
meal just cost. The dollar as
currency is also a contributing
factor to the fact that Panama has
the lowest inflation rate and the
most stable economy in Latin
America. |
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Dependable Travel in Panama-Roads,
Highways and Public Transportation
Travel within Panama is dependable and
inexpensive.
Taxis in Panama City are cheap and
reliable. You can go
just about anywhere for less than $7. If
this is your first
trip we don't recommend driving in
Panama City
because of the lack of signage.
Outside Panama City, the highway system
and the feeder
roads off the main highways are
excellent. If you are renting
a car you can easily use the
Interamerican highway that goes
from the border of Costa Rica to Panama
City, a four-lane
highway all the way.
If you aren't driving, for $15 or less
you can travel from Panama City to any
city on a bus from the Albrook Bus
Terminal. |
Inexpensive First Class Health
Services and Medical Care
One of the reasons many Americans of
retirement age are deciding to live
in Panama is because both health
insurance and health care are
inexpensive in Panama and health
care is good.
More than any place in Latin
America, you can readily find
English speaking trained doctors and
dentists. There are several
hospitals with the latest in
diagnostic testing and services.
Prescription and over-the-counter
medication is available at low
prices. Full coverage health
insurance policies are very
reasonably priced for any age.
Health
Board-certified bi-lingual doctors,
sophisticated procedures – big
savings Panama’s reputation as the
most health-
conscious country in Latin America
dates back to the construction of
the Panama Canal when the Isthmus
was freed
from tropical diseases. Not only did
U.S. doctors help to eradicate
malaria, yellow fever and typhoid;
they inspired
generations of Panamanian physicians
to train in the US and Europe and
return to their homeland to build
hospitals with
the latest technology. Health care
in developed countries is generally
exorbitantly expensive, often dogged
by long
waiting lists and indifferent care.
Now, people from these countries are
realizing that they can get as good
or better
treatment in other countries at a
lower cost – and have a holiday into
the bargain. In Panama, health and
medical tourism
is growing rapidly, mostly because
our medical professionals are
well-trained abroad, bi-lingual and
board-certified; and
our hospitals have the latest
technologies for surgery and
sophisticated procedures. On most
procedures Panama offers savings of
more than 50% over US and European
prices and in addition, medical
expenses (including travel) can be
deductible under US tax law. The
fascination with fitness, beauty and
alternative therapies is another
factor in the growth
of health tourism. Health Tourism in
Panama The services a foreigner can
find here include dental implants
(average cost
in the US $2,500 – in Panama $1,000)
plastic surgery, assisted
reproduction, cardiology and
ophthalmology. State of the art CAT
scanning machines, tri-dimensional
computer reconstructions and the
latest radiation therapies for
cancer are some of the technologies
available at Panama’s hospitals.
Hospitals in Panama City which cater
to foreign visitors are Centro
Medico Paitilla (affiliated with the
Cleveland Clinic Foundation),
Hospital Nacional and Hospital Punta
Pacifica (affiliated to Johns
Hopkins Medicine International).
Another of Panama City’s major
hospitals is Clinica Hospital San
Fernando (affliated with Tulane
University Health Sciences Center,
Hospital and Clinic; Miami
Children’s Hospital and Baptist
Health International of Miami) which
has recently opened the Clinica San
Fernando in Coronado offering 24
hour service to the growing ex-pat
communities of Coronado, San Carlos,
El Valle, Altos de Maria and
Buenaventura. Their services include
radiography, ultrasound and CAT
scans; laboratory; dental and eye
clinics and general medicine.
Another big health plus is that you
can drink the tap water, a rarity in
Latin America. Sanitation is good...
the "Montezumas revenge" illnesses
that tourists
are prone to in other countries of
Latin America are almost unheard of. |
Shopping
Panama has the best shopping in Latin
America. Starting with
the supermarkets- Riba Smith, El Rey and
Super 99 stock just about everything you
would find in an American supermarket
but at lower prices. There are three
Price Costcos in Panama City
and one in David in Chiriqui. (They're
called Pricesmart here).
Panama City has four major shopping
malls: Multiplaza in
Punta Pacifica, Albrook Mall,
Multicentro on Balboa Ave and
Metro Mall near the international
airport. There are large electronic,
appliance, computer and furniture stores
with
familiar brands and prices the same or
better than
the USA in each mall. |
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High Speed Internet and Services
Panama is a so-called developing
country but the high speed internet
access is very good. Phone service
and other basic services are also
reliable - unusual for Latin
America.
Banking Conveniences and a Strong
Financial Services Sector
ATM machines providing access to
your USA bank account are located
throughout Panama City and in many
locations
outside Panama City. Panama has a
sophisticated banking sector with
one hundred banks. We recommend
Scotia Bank
of Canada which caters to
foreigners. If you are looking for
offshore activities there are
specialists who can provide
personal or corporate services with
strong financial privacy laws and no
taxes on offshore profits.
Schools
Families with children will find a
number of excellent private schools
to choose from. Most foreign
capitals have just one American
accredited school, but Panama has
three: The International School of
Panama, Balboa Academy and the
Oxford International School. |
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Variety of Residential Venues to Choose
From
The three most popular places for homes
are Panama City,
the beach areas near Coronado and
mountains near Panama
City or in Chiriqui province. With the
worldwide economic crisis prices are
coming down but a bit less since it is
fast becoming
a regional business hub and there are
only so many prime locations.. Panama’s
mountain areas like Altos del María and
El Valle offer perfect all-year-round
spring weather. On the
beaches, choose from beachfront lots,
homes and condos
on both the Pacific Ocean and the
Caribbean.
Architectural Variety
Unlike any other country in Latin
America, Panama has refreshing variety
of architecture styles. In the rest of
Latin America, Spanish colonial
dominates while in Panama there's a
refreshing variety of modern, Spanish
colonial, American, French and English
styles. |
The Best Retiree Benefit Program in
the World
The Panamanian government encourages
retirees to retire here with a
program with many benefits and
discounts. To qualify for a retiree
visa the only requirements are a
proven monthly income of $500, a
health certificate, and a police
report.
Some of the benefits for retirees:
• 50% off entertainment
including movies, concerts,
theater etc. (a regular
movie ticket costs $4 - the
retiree price is $2.)
• 25% off restaurants
• 50% off hotel
accommodations from
Monday-Thursday
• 30% off bus, boat and
train fares |
• 25% off domestic and
international airline
tickets
• 10% off prescription
medicines (much cheaper than
US prices to begin with)
• 15% off dental and eye
exams
• 50% off closing costs for
home loans |
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Foreigners who purchase property in Panama enjoy
all the same rights as Panamanians. Unlike other
countries, in Panama foreigners who buy property
enjoy all the same rights and protections as
Panamanians.
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Copyright ©
United Country Altos del Maria - Panama Real Estate |
Each Office Independently Owned and
operated. The Information provided
herein is deemed accurate, but
subject to errors, omissions, price
changes, prior sale or withdrawal.
United Country does not
guarantee or is anyway responsible
for the accuracy or completeness of
information, and provides said
information without warranties of
any kind. Please verify all facts
with the affiliate. |
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