Since I've moved here the Panamanian government has been working hard to encourage foreigners to invest in their country's economy. This was done by passing over 40 new laws protecting foreigners' investment rights, including the Investments Stability Law (Law No. 54), which guarantees foreign and national investors equal rights.

The City Of Knowledge & The Local Investment Climate

For EscapeArtist.com and EmbassyWorld.com we have our offices located in the prestigious City of Knowledge. The City of Knowledge is a place with academic institutions, scientific research centers, cultural institutions, located inside a very modern technology park. The City of Knowledge is open to students, professors, intellectuals, scientists, and businessmen from around the globe to gather and exchange knowledge and ideas on topics as diverse as philosophy, tropical medicine or telecommunications. 

We have access to a brand new state-of-the art neutral Internet data center co-location network, and support services that provide reliable and secure 24-hour access for mission critical equipment. Access to the major fiber optic network including; Fiber Optic, Pan American, Global Crossing, Maya1, Arcos. 

Had I attempted to run my business from the United States I would have gone broke. In Panama we have managed to survive and to prosper. We now have a network that goes out to almost 30,000 viewers per day and we have received press coverage and accolades from around the world for running a website that is a business as well as a service to the global community.  We now publish two magazines, we are beginning a third, plus we are currently starting several new services for those living an international lifestyle. At EmbassyWorld.com we have the largest Embassy database in the world - which is a free to all access website.  Thanks to Panama and its 'open for business' attitude we are prospering.

Panama has the most modern and successful international banking center in Latin America (and the second largest in the world, after Switzerland), with more than 150 banks from 35 countries, including Citibank, HSBC, Dresdner, Bank of Tokyo, Bank of Boston, and the International Commercial Bank of China. Panama is also one of the world's top offshore investment centers, Panama places no exchange controls or restrictions on the movement of money into or out of the country. It is legal and quite simple to form truly anonymous corporations here. In fact, given recent changes in the world of offshore banking and privacy, many believe that Panama is now the best (and perhaps the only true) remaining tax haven in the world, with the most solid banking and corporate book secrecy laws anywhere, engraved in the country's constitution. Non-resident Panamanian corporations and foundations do not pay tax on any of their income--interest income and capital gains income included. Nor do they have any reporting requirements to the Panamanian government.

Retirement Incentives - The Pensionado Program - Senior Citizen Discounts 

The government is offering Important incentives for foreigners to spend time here, invest here, and more important to the point of this article, to take up residence here. Panama offers one of the most attractive pensionado programs in the world. As a pensionado [retiree] in Panama, you receive: - 50% discount at most recreational, movie, and sporting events - 30% discount off public transportation (including buses and ships) - 25% discount off Copa airline flights - 50% discount off hotel stays on weekdays [30% on weekends] - 25% discount at selected restaurants - 15% discount at fast food restaurants - 10% discount off prescription drugs - 20% discount on doctor's visits - 15% discount on dental work - 25% discount on your electric bill (if less than $50) - 25% discount on your telephone and water bills

All that is required to qualify for the program is that you must be sixty years of age, in good health, AIDS-free, have an up-to-date passport from your country of citizenship and a verifiable monthly income of at least $500 per month.  Furthermore, if you buy or build a new house, you won't pay property taxes for 20 years. As for income taxes, you will be amazed to know that in Panama you pay no taxes on foreign-earned income. And because Panama uses the U.S. dollar as its legal tender, the local economy is insulated from global shocks. During the Asian monetary crisis of 1998, Panama became one of the healthiest economies in Latin America. The use of the U.S. dollar makes your life here less hectic, more predictable and continually stable.  You can depend on good value in the property you buy, the business that you may move here and the lifestyle that you live.  There is never a fear of a collapsing economy as the result of a 'funny money' Latin American currency.

Expatriates, investors and retirees are welcome in Panama.  If you choose Panama as an investment / retirement haven, or as a location for your business you will be moving to a country with a very welcoming attitude. I have been in Panama over five years and I've never witnessed an incidence of violence, nor of animosity. Americans are made to feel welcome everywhere they go here in Panama and there is none of the 'outsider' feeling that exists in many Latin American countries. The police in Panama are the most helpful, friendliest police in the world. 

In Altos Del Maria you will have the best of all possible worlds. A perfect investment / retirement haven with plenty to do, no taxes, no crime, peaceful people, a wonderful environment, an entire nation to explore, twenty minute access to the Pacific Ocean, or if you prefer the huge Bocas del Toro Archipelago to play in, plus river rafting, fishing, golf, tennis, sailing, wind-surfing, hiking, horseback riding, bike riding, playing bridge or poker with a flock of new friends, just laying in a hammock, or perhaps starting a new business in a country that knows how to treat you like an equal.