Moving to Panama? For tranquil living, gorgeous views, and world class recreational opportunities consider Lago Bay. Less than an hour by air from Panama City Lago Bay is a beach and lake development in Veraguas Province. It is a tranquil site on two kilometers of sandy beach, with horseback riding on nature trails or along the beach. Fresh water lagoons are stocked with Tilapia and Peacock Bass. The salt water fishing is excellent and a trip out to the continental shelf brings one to Hannibal Bank, the underwater formation where fishermen reel in ten foot long Black Marlin. Whether your interests are surfing, scuba diving, deep sea fishing, or simply strolling along the beach Lago Bay is an ideal location. Live at Lago Bay or buy a second home for weekends and holidays.

Home Sites at Lago Bay

Lots at Lago Bay range from a third of an acre to six acres. The lots were chosen on site in order to guarantee strategic placement of homes for optimal views of the ocean and fresh water lagoons.

The Lago Bay development has several thousand coconut and palm trees planted along its mile and a half of sandy beach, above the high tide line. These, along with the natural tree canopy, provide a stunning view along the beach and from the beach pavilion. The beach pavilion itself is located centrally on the widest part of the beach.

The three stocked lakes at Lago Bay start with Turtle Pond, stocked with Tilapia, fresh-water shrimp, and caracols. Then there is Tiger Lake and Isla Lake. Both have islands with geese, ducks, and Wichichi (a long necked bird that dives for its food). Both lakes are stocked with Sargento, a fresh water snapper. All three lakes have docks to make it easy to fish to go for a boat ride.

The horse stable at Lago Bay is located by Isla Lake. Staff will help saddle horses and assist with a ride around the property. Several nature trails on the property are good for both jogging and horseback riding. There is preserved rain forest along the way, a wide variety of birds and flowers, and thousands of fruit trees.

The Shanti is an open air beach style bar and grill on site, serving oven roasted Tilapia, home made bread, and fresh juices as well as liquors and beer.

Home sites range from $40,000 to $275,000 and financing is available.

For more information regarding this once in a lifetime real estate opportunity contact one of our real estate experts today.

For more information on retirement, banking, estate management, taxation, employment, forming a Panamanian foundation or corporation, real estate, trade policy, local economics, vessel registration, obtaining legal counsel, or any other topic related to doing business in Panama… click here.

Panama, 16 to 20 September
Anayansi Theater of Atlapa
Panama has experienced intense development that puts us among the leading countries in the region. We are a modern international trading, logistics, financial, technological and communication center.

Capac Expo Habitat 2009 is thus an excellent setting to exhibit and market products and services your company offers, because not only national but is visited by foreigners wishing to invest in Panama. The exhibition will run from 16 to 20 September at the Convention Center Atlapa.

Capac Expo Habitat conclave is the commercial and construction technology and housing, organized by the Panamanian Chamber of Construction (CAPAC), which involves more than 300 exhibitors occupying 17,000 square meters near the Convention Center and Atlapa presents to its visitors the latest trends in finishes, interior, machinery, technology and products, further real estate projects with attractive range of mortgage financing.

The exhibition will be visited by over 35,000 people interested in knowing the latest technologies, products and innovations in the industry, buyers, designers, engineers, architects, investors and general public.

To promote strategic contacts between national and international companies during the exhibition event,  a business conference will be conducted on the 17 and 18 of September, providing the stage for creating contacts and business partnerships in the short, medium and long term investor participants.

Fair Hours:

Inauguration Ceremony

Wednesday, 16 September  – 6:00 pm (by Invitation Only)

Open to the General Public

Thursday and Friday – 3:00 pm to 9:30 pm

Saturday and Sunday – 1:00 pm to 9:30 pm

For more useful information about moving to Panama contact one of our experts today.

The Panama real estate market is something that is interesting to many investors as well as individuals that are looking to buy property abroad. Panama offers beautiful beach front properties as well as properties that are just as beautiful, but not on the water. Not only are many of the properties beautiful, but they can also be very affordable for investors and individuals alike. In addition to being affordable, most of these properties, when kept up, appreciate very quickly, allowing those that buy them to invest and then sell for a profit in relatively little time.

One of the things that draws many home and property buyers to the real estate market in Panama is not only the surroundings, but also the tax incentives. There are many tax breaks for those that buy in Panama, and for many the tax benefits are enough to have them consider Bocas real estate as well as real estate in other areas. When you buy property in the area and you plan on building a new dwelling you will benefit as there are no taxes on the dwelling for 20 years! What this allows for individuals to do is buy property that has not been built on quite cheaply. Then, the individual or investor can build a beautiful home or business office, and then sell, all without paying taxes! This will allow for the property to be sold for much more than it was purchased with the benefit of never paying taxes.

Bocas del toro is a beautiful place to buy real estate, though it’s being bought up quite quickly. The property that has already been purchased is worth more than it was just six months ago, because supply and demand simply are not balanced. There is still property for sale in this beautiful province, and it includes residential as well as commercial property. This means that there is something for everyone, and this will always be a great place to buy as well as sell property. This province on the Caribbean will continue to be a great place to buy Panama real estate in the future, though the prices will probably continue to rise as more and more people want to buy and there is less and less in the way of available property. Panama real estate has never been more prime, and when you buy in an area such as Bocas you are almost guaranteeing a successful investment.

Caitlina Fuller is a freelance writer. There are many tax breaks for those that buy in Panama, and for many the tax benefits are enough to have them consider Bocas real estate as well as real estate in other areas.

For more useful information about Panama, real estate in Panama, and moving to Panama contact one of our experts today.

Foreigners will find that Panama has special regulations which favor investments in real estate.

• Unlike other tourist destinations, foreigners and nationals can:
• Buy almost all kinds of property (except for the rainforest 5km way from the border)
• Own property through shares in corporations, private foundations and trusts
• Open bank accounts in US dollars free from exchange conversion loss, as well as in euros and other hard currencies
• Live without having to file Panama tax returns as long as they are not making an income from their Panama property or their activities inside Panama
• 5 to 20 year property tax holidays, depending on the date of construction of improvements.Foreigners have the added advantage of bilateral investment treaties with the U.S., France, United Kingdom and most European countries which further ensure protection of their investments in Panama.

Just as with any investment, proper due diligence is necessary before paying for any property – even before that first downpayment. A savvy buyer must verify that the seller is the true owner of the property for sale and that no restrictions or liens forbid its sale. The first payment must be accompanied by a written agreement describing the property and executed by a seller property authorized to do so under local law. Appropiate counsel can assist in avoiding unnecessary delays in the transfer of title.

European, Canadian, US and citizens of several Asian countries can stay in Panama with tourist visas for up to 90 days. Full residency is granted to foreigners:

• Investing US$160,000 in a Panama non-retail business and effectively employing 5 Panamanians,
• Holding a US$300,000 CD time deposit (plazo fijo) account in a Panama bank for at least 3 years or in the National Bank yielding US$2000.00 monthly for 5 years,
• Buying a house in Panama mortgage-free for US$300,000 and/or a mixture of the house paid for and time deposit for at least 3 years totalling US$300,000,
• Investing at least US$60,000 to buy at least 10 hectares of rainforest for reforestation
• Earning a pension from a social security or any foreign government pension authority above US$1,000.00 monthly as Pensioner (”Pensionado”).Other residence categories exist that are applicable to foreigners sponsored by local employers or educational institutions as part of a foreign worker quota of no more than 10% per company or who marry a Panamanian spouse. Residents for 5 years can apply for naturalization as Panama citizens and have a Panama passport.

For more useful information about moving to Panama contact one of our experts today.

With a greater influx of migrants and tourists to Panama, more apartment buildings are being established to accommodate the foreigners. There is a great variety of apartments there and many of them offer very complete facilities that will more than meet your basic needs, not to mention the scenic views they afford.

Looking for apartments in Panama can be fun because there are so many different locations to choose from and even with an average income in US Dollars, you can afford almost all of them. It is better to know the market rate for apartments before you decide to rent anything. The local housing agents have the impression that all foreigners are rich and it is natural that they will rent you an apartment at a higher price. In Panama, the average cost of housing for the locals is $250 per month. If you are willing to pay up to a few hundred dollars, you can even get yourself a rather neat joint in the downtown area.

The range of apartment types in Panama City is quite varied. Depending on the location, you can be paying anything between $500 a month for an efficiency apartment to $2500 for an upper end three bedroom apartment. With a budget of $300 to $1,000 a month, you are looking at a two-bedroom apartment in a middle class residential area. Many of these apartments come with amenities such as 24-hour security, swimming pools, gyms and recreational areas. And the more expensive apartments usually have better views.

There are many ways you can look for apartments in Panama. If you are migrating, it is better to travel to Panama first to do some scouting for yourself. The biggest problem you will probably have is the language, but you can employ an interpreter to help you out and most locals do not mind offering their services for tens of dollars a day. A good place to start is the ads in the newspaper.

Try to look out for those ads that are direct postings from owners. Pick a few apartments that interest you and arrange to view them. Never confirm a deal on the spot unless you are absolutely sure that the price is right. After viewing a few apartments, you will have a rough idea about the price patterns there. If you have a favorite, bargain for it. If not, you can take your time looking for more alternatives.

Most foreigners jump into decisions too early because they cannot believe their luck that they found such great housing deals. Well, almost everything is a great deal there. But before long, those who were hasty will come to realize there is a better place with the same price. There is no rush in Panama. Whether you enjoy the hustle and bustle of downtown living or the peace and quiet of tranquil neighborhoods, there is an apartment that will satisfy you.

The Panama Club has a licensed Realtor ready to assist you in finding your dream apartment in Panama, for assistance, please contact us.

The global recession has without doubt hit everyone, Panama is not an exception however the full impact of the recession has not been felt hard in Panama as of yet. During the Christmas shopping season, malls in Panama City are swarmed with thousands and thousands of people shopping; the economy felt vibrant, good times are still rolling. A layer below what seems like a booming economy still in full force up swing of the good times a breeze of the coming storm can be felt as businesses begin to prepare for what could be one of the toughest years in the last decade. The highs and booming growths in the last 6 years have been steep and steady so now the pendulum will swing downward with this upward impulse.

The Panama real estate market is preparing for the shock of first wave of hundreds of new City condominiums units that will be coming into the market. Occupancy permits to be issued and the buyers mostly, speculators that purchased two years ago with as little as 10% down are now responsible for meeting the full impact of the remainder of their debt on these units. The economic outlook for most of these buyers has changed; they face a different economic reality than they expected 2 years ago. Now, they do not have many options and the clock is running, their options are either to re-sell those units quickly at cost with little or no capital gains, or losing the units back to the developer for defaulting on the promise to purchase agreement.

These “distressed sellers” – and this scenario are likely to be abundant in 2009. This scenario will affect the economies of supply and demand mostly in Panama City condo market will shift from what has been up to now a seller’s market with prices rising steadily in period of months to by up to 100% without rhyme or reason to a BUYERS MARKET. This will create a price adjustment that will bring another wave of buyers seeking deals in Panama City.

This price adjustment will also allow for younger local buyers to be able to afford the price of condos in Panama City that up to now had been out of their reach and exclusively for foreign investors. This possible surplus in condo units can create a shift to lowering pricing strategies and many developers may have to re-consider their pricing strategies to compete, this may bring about the cancelling of several residential developments in the city.

This negative spin offset by several phenomenons.

• New buyers coming into the market deriving from political instability in countries like Venezuela and Ecuador, seeking shelter and a plan B in Panama.
• Companies coming into Panama to set up their global operations.
• A new wave of new-found investors coming into Panama seeking to invest in this warm tropical paradise.

Panama stands out as one of the most globalized countries in Latin America and a leader in attracting foreign investment and several key projects guaranteed to be moving forward in 2009. The Panama Canal expansion, the Panama Pacifico project in Howard developed by London Regional residential and commercial development zone, and the cinta costera road expansion, along with sustained growth in tourism, business travel, telecommunications, and other key sectors and commercial activities will serve to absorb some of the economic impact, allowing Panama to deliver a solid 3% to 4% economic growth in 2009.

For more useful information about Panama and moving to Panama contact one of our experts today.