Panama - Living Investing Retiring Traveling & Working in Panama
Panama is located at the southernmost tip of Central America, south of Costa Rica and north of Colombia. Panama was once under water, separating the Americas. A land bridge now, Panama is bisected by its famous canal at its narrowest and lowest point, which allows passage from the Caribbean Sea to the Pacific Ocean. The capital and largest city is Panama City. The metropolitan area is home to nearly half of the country’s 3.9 million people.
Panama was the principal shipping point to and from South and Central America in colonial days. Panama joined the super state called Gran Colombia in 1821, when Central America revolted against Spain and proclaimed its independence from Colombia, with U.S. backing, in 1903. The U.S. paid Panama for full canal rights, a 10-mile-wide strip across the isthmus. In 1977, President Jimmy Carter signed treaties giving Panama gradual control over the canal. Relations with the U.S. soon deteriorated, however, and in 1987 the U.S. began economic sanctions. In 1989 the U.S. invaded Panama. In 1999 the Panama Canal was handed over to Panama officially. Today, Panama is a rapidly developing country with an optimistic future.
Panama has a mild tropical climate with a hot, humid, long, and cloudy rainy season with a short dry season. It is essentially summer year round. The locals call the rainy season the “green” season. Although it rains more during this time, it generally lasts for about an hour a day. The temperatures are in the low 80’s (Fahrenheit) during the day and the high 60’s (Fahrenheit) at night.
The official language of Panama is Spanish. Panama boasts beautiful rainforests, sailing opportunities between pristine tropical islands, wildlife viewing, and urban exploration in Panama City. Panama is easy to get to, as it is a crossroads between the Americas and almost every major airline flies there. The country lies a mere 2.5 hours from Miami and 4 hours from Houston, with additional flights coming every year.
How customs and traditions are typically observed for Panama’s National Public Holidays. Dia Feriado is the Spanish phrase for holiday. Due to its diversity, Panama celebrates an interesting mix of…
A new trend in recent years in the USA and the EU has been alternative clean investments to protect the environment and provide clean energy. Such investments reduce pollution while lowering energy costs. Panama’s green investment program is called the Reforestation Visa which is an immigration program designed to replant areas that have been deforested while providing investors an opportunity for permanent residency leading to full citizenship.
Panama has been getting a lot of attention in recent years as a retiree’s dream. Ever since it won International Living’s title of “Best Country in the World to Retire”…
It sounds tempting. Move your business to another country and avoid US taxes. But, is it legal?
Like so many other instances in tax planning, the real answer is “it depends.”
What you need to consider before moving your business is revealed in Part 1 of this Expert Series.
Volcan is located in the Bugaba District in the Province of Chiriqui, at an altitude that varies between 4,000 to 5000 feet and boasts a comfortable year-round climate which ranges between 55°-78° F. This small town is home to the highest point in the country, Volcan Baru, Panama’s only volcano.