Settling in Panama

Panama is one of the most preferred places by foreigners all over the world. This is due to the fact that you can mix both business and pleasure here. You get to spend your free time on the beaches and at the same time, still go through your daily work since Panama is an international hub for banking and commerce. The place is at par with most modern cities in the world. You will easily feel at home in this place.

Here are some of the advantages why Panama is the place to be in:

• Safe: Among South American countries, Panama is among the top nations that has low crime rates. It is clearly a haven for most tourists due to this fact. Just like any other progressive cities, Panama has some areas that you need to avoid. However, it always pays to be very vigilant and you can always coordinate with the local authorities for protection.

• Modern living in a historic city: A lot of Americans have settled in Panama decades ago. However, before the turn of the century, local Panamanians have gained control of the region so basically there was a fusion of cultures among the nations which gives the city a modernized look. The Latin-American culture can be clearly seen in most of the structures in the city thus giving you a sense of history and at the same time a positive look in the present times.

• The best place for investors, retirees and pensioners: Being ranked as one of the top 5 destination for foreign retirees and pensioners, Panama is clearly the most sensible choice for you. For those who are still young and working, it is also a great idea to settle down in this city because right now there is a boom in real estate and you may get your very own condo unit at a reasonable price. Why wait when you can do it right now?

• A great place to conduct own business: A number of owners of major business establishments in Panama have mostly finished their studies in major U.S. colleges and universities. Therefore, it will be easier to conduct business and coordinate with other entrepreneurs. It really pays off if you have many contacts because it will further expand your business at a lesser time.

• Panamanians are friendly and hospitable: Another great reason why you should settle here in Panama is the nature of the locals! They are really friendly and hospitable. This may not come as a surprise since Panamanians are now used to working and interacting with foreigners. This means that you won’t be treated less because you get the best welcome one could ever have in a foreign country. The intertwining of local and foreign cultures made it possible for people in Panama to live peacefully. There are a lot of beautiful people residing in this Caribbean paradise. In fact, a lot of Panamanian beauty queens are making a name for themselves in the international scene.

• The place is accessible: You won’t be experiencing any difficulties trying to get to Panama. Daily flights from major cities in the United States and other countries are scheduled so the city is pretty much accessible to all foreigners. Major airlines are offering direct flights to Panama so it is safe to assume that Panama is really the place to be.

• Financial stability: Panama has one of the most stable economies in South America. Plus, the locals mostly use the U.S. dollar so you need not go out of your way to have your currency exchanged because business establishments here accept the U.S. currency. Having a stable economy tells you that it will be viable to establish your own business in the city. Just make sure you fulfill the requirements set by the local government before you conduct your own business.

• Easy transportation options: You have the option to take the taxi, bus or train when you go around the city. In less than five dollars, you can actually make a grand tour of the city. If you want to go beyond the city and explore the provinces, you can take a bus which charges about thirteen dollars. You can also rent a car at a reasonable rate. Having a rented car gives you the option to stop and enjoy the scenery once in a while. Any option is fine and of course, affordable.

• World-class medical services: Most of the hospitals in the city are fully-equipped with the latest medical equipments. You can easily find English-speaking personnel whenever you want to avail of medical services. Health insurances are priced at a reasonable rate and the medicines are not that expensive.

• Reasonably priced commodities: Panama has a number of shopping malls you can choose from. A lot of high-end products are reasonably priced so you can always buy a lot of goods. You can always go to three largest and major shopping centers in Panama. These are Multicentro located at Balboa Avenue, Albrook Mall – also at Balboa Avenue and Multiplaza, which is situated at Punta Pacifica. Your choices will range from clothing to electronic items. You’d definitely get your money’s worth on the products that you will buy.

• Availability of technology: A number of Latin American countries don’t have sophisticated technology included high speed internet and phone services. Fortunately, Panama offers these two. If you happened to be very reliable with the internet, then living in Panama is definitely a breeze.

• World class business establishments: Panama has great restaurants that over international cuisine. This will definitely cater to your taste and the prices of the food are very reasonable. Of course, there are great franchises of American fast food chains such as Burger King, Pizza Hut, KFC and many more. So you can always pick up your phone and call for a delivery and enjoy the food at the confines of your home.

• Convenience in banking: You can see a lot of automated teller machines (ATMs) situated at strategic locations. Therefore, you will feel like you can always rely on these machines whenever you find yourself short on cash. Panama has one of the most reliable banking services in the world. No wonder it is considered a financial and banking hub among international markets.

• Reputable schools: If you have children, you need not worry as to what school they’ll go to. There are a number of reputable schools here in Panama. These are Oxford International School, International School of Panama and Balboa Academy.

• Panama Real estate boom: As mentioned in previous articles, Panama is currently enjoying the real estate boom. Therefore, a number of condo units are priced at a reasonable rate. You can take your pick. Remember, though, that you need to do your research before making that important purchase.

• A unique program for retirees and pensioners: Did you know that the Panamanian government is actually looking out for retirees and pensioners? Yes, it is true. The government has outlined a benefit program for these people, which makes it possible to avail of discounts in major sectors and business establishments.

Here are some of the discounts and benefits you may get (that is, if you are qualified for the program):

• Public transportations (30 percent discount)

• Entrance to recreational establishments like theaters and sporting events (up to fifty percent discount)

• Air fairs (30 percent discount)

• Hotel accommodations (up to 50 percent from Monday to Thursday, 30 percent on weekends)

• Restaurants (15 to 25 percent discount)

• Private clinics and hospital bills (15 percent off)

• Medicines with prescriptions (10 percent off)

• Medical services (15 to 20 percent discount)

What are the disadvantages of living in Panama? Virtually none. Of course, in every city, crimes exist so it should not be taken against the country. Being consistently recognized as a peaceful place and preferred sanctuary among foreigners, Panama is definitely the place you should put at the top of your list.

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