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I have visited panama many times in the 1980's. i have never been to contadora, i see homes there, do you know what living there is like? tks James I have 2 children, 11 and 14 , what about bilingual schools and standard of education, universities? Amanda A -
The standards of Education are excellent but I need to preface that statement with, "In Panama City". There's the 'International School' the Balboa Academy, Academia Interamericana and the Greek school to name a few. These are excellent private schools for elementary and secondary education. Of course there is the University of Panama which hosts students from all over the world. This is from the U.S. Department of State website - More than 65,000 Panamanian students attend the University of Panama, the Technological University, and the University of Santa Maria La Antigua, a private Catholic institution. Including smaller colleges, there are 14 institutions of higher education in Panama. The first six years of primary education are compulsory, and there are about 357,000 students currently enrolled in grades one through six. The total enrollment in the six secondary grades is about 207,000. More than 90% of Panamanians are literate.
Hi Mark -- I'm wondering if you know anything about bringing pets to Panama. I have a 1.5 year old yellow lab, and I couldn't leave her behind! Thanks for your help! Lawrance Panama Beaches, Tours, Hotels, Restaurants, Maps and More - Check out these Great Resources for Panama Information:
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Hello, Could you tell me the name of the hotel in Boca Del Toro that you recommend? Thanks, Chris.
A - Sure Chris, it's the Swan's Cay Hotel. It's funky and different but I love it! You can read more about Bocas in my Letter here - Bocas del Toro I am interested in buying a piece of property in Boquete (I think), but I hate strong wind. I have heard there are five micro-climates there. Can you tell me what they are and what areas they are in? Thank you. Shannon A - Hi Shannon. Great pick and my favorite area of Panama! It took me two years and three moves to figure this one out. There are multiple micro climates in this area. Wind is a summer (dry season) phenomenon so it's best to visit in late January or February so you can determine where the winds are acceptable to you. Hi Mark - like to know about medical insurance in Panama - how that works. We are US citizens and don't have overseas insurance, please help. Lydia. A - I recommend you get in touch with Kevin Bradley, kevin@panamakevin.com phone 507-263-6450. Kevin is the best broker in Panama and specializes in handling Ex-Pat insurance needs. When you talk to him say Hi! for me. What Panama law firm do you recommend to set up a family foundation and Intl Business Corporations? Ted A - I recommend - Mario Fonseca Imendia of FONSECA & ASOCIADOS, a family firm established in 1975. They are located in the Banking centre in the Credicorp Bank Building, 6th floor, suite 604, in Panama City. Phone (507) 210-1510, email: mariofi@cableonda.net
Greetings Mark---This is a GREAT IDEA ! I will be arriving Panama CityAirport and have looked into Car Rentals at Airport! Every body quotes mea price and presents me with a list of Insurance Options. Very nice if were familiar with local requirements and what options are highly recommended for good reasons as opposed to options that sound necessary but may be a waste of money. Also, I thought I recently read something about car rentals that came with necessary insurance included---but I am unable to locate this type of rental. Any help will be appreciated. Thanks Don A - The car rental insurance game can be confusing - here there and everywhere! It's true there is a required insurance which is automatically charged. If you have a credit card with the CDW option you can save some money by using that. Renting a car is really a pretty quick and painless process. The painful part is navigating around the cities and getting out of Panama City! Be sure to refer to my Letter about that for specific instructions on how to get out of the city. The last time I rented a car in PC it cost me $197 for a week from Hertz - rental $113 and CDW with my cc was $84. I also found the rental staff to be very nice and helpful - no 'Orlando style' aggression! I would strongly recommend you order a Panama Map for delivery to your home before you go. The rental agency maps are about as useless as the ones we get here and you may find it a challenge finding a good road map (it took me 6 months!) once you arrive in Panama City.
FYI - To save money on long distance calls to Panama or anywhere in the world for that matter! I use WayTelecom.
Q - I will be in Panama in Sept. Are they requiring vaccinations? What is the new length of time a tourist visa is good for? Have they revoked the 20 yr property tax exemption?How much are property taxes, and what percentage of your purchase price are they? Shannon
A - Hi Shannon. You may want to check out the 'Pathway to Panama' Tour - Click here To Learn More! No, vaccinations are not required. There was a poorly worded bill which was vetoed by the President. Essentially the bill will be reworded to properly reflect vaccination requirements only for visitors from countries where highly contagious diseases are currently found. It will not apply to most developed countries so, no worries there. Currently the new tourist visa is valid for 30 days with a 60 day extension available. See above for more on this ongoing debate. It looks like the the visa will be returned to it's original 90 days any time now. They have not revoked the property tax exemption law. The law was simply amended. Any construction completed by the end of this year will still have a 20 year exemption. After that it is on a sliding scale of 15 - 10 - or 5 years of tax exemption depending on the 'declared' value of the construction. Again, this is being hotly debated and is likely to change. There is tremendous pressure and lobbying being done by the developers to have the changes rescinded and the original law of 20 years exemption reinstated. This has been going on for almost 10 years now. They have always put a deadline on the 20 year exemption and in the 11th hour it gets extended. Also, note that the law has never been 'revoked' and never will be. Anyone who currently has a 20 year exemption always will. Panama is a democratic republic so the rule of law prevails. A few other important notes - there are plenty of new homes, condos and developments available with the 20 year exemption. Also, there are new developments which have still been granted the 20 year exemption even though there buildings are not complete. There is a special law whereby developments which have been designated as tourist infrastructure continue to receive the exemption status. Keep checking back here for up dates. Panama Beaches, Tours, Hotels, Restaurants, Maps and More - Check out these Great Resources for Panama Information:
Q - What's the best way to acquire real estate in Panama now while prices are still lower if the person(s) can't retire for another 6 years or so? And would it be better to buy land and wait to build until retirement, or go ahead and build and rent the property out until retirement and moving to Panama? A - I would definitely recommend investing now as Panama Real Estate will continue to appreciate in value. As for how you want to go about that it is really dependent on a number of your personal needs and wants. You can certainly buy land and wait to build until you retire. However, like everything costs are sure to rise so you would be saving money by building now. Also, it depends on where you want to eventually retire. Are you thinking a large plot of land (a finca) to build on -or- are you thinking a condo or home on a lot in a development where you will have neighbours and amenities? Purchasing in a development now can be a real advantage as Panama has a shortage of rental properties relative to it's growing tourism industry. A condo, town home or home in a development with services and amentities, like golf,tennis, a pool, etc. can be a wise investment as your rental income helps to pay or in some cases can completely pay for your future retirement home. My apologies. I've been busy traveling and doing some additional research to improve this page. I've added some additional lens over at Squidoo that you may want to check out - Panama. I've also been working on my Facebook and YouTube pages so watch for some new postings there too. Now on to your questions! Q - Mark, Do you think real estate on the Caribbean side of Panama will appreciate in the next 5 years and developments will ever flourish in that area ??? Will more "rights of possession properties" become "titled." Drew A - Hey Drew! Yes, Yes and yes! I can't believe how long it has taken for people and business people i particular to discover the Caribbean coast. Bocas has had it's share of attention but I believe the growth there is limited because it is island based community. Resources will always be limited and this lifestyle is only attractive to some. I believe the coastal areas near Colon and Portobello will see significant growth. Check out this development as an example - Caribbean Coast. Also, Yes, we will continue to see more ROP land becoming titled. Q - Do you have to deposit an amount of money in a banque account in panama or buy property to move there? thanks Cora A - It really depends on your intentions. No you don't have to deposit money or buy property to move to Panama. However, you will need to apply for a visa if you plan on living there full time. If you have a pension of $500 or more per month than you can easily obtain a Pensionado Visa. With a visa you are free to travel and rent throughout the country and stay as long as you like. The visa gives you 'Residency'. No purchase neccessary! Q - We are coming to Panama on Nov 8 for 10 days. We plan to rent a car and travel to look for property or houses in the Altos Del Maria area. We do not speak spanish, I am concerned, is this doable without getting into trouble? I have ordered a map but other than that we have no idea where we are going. Any hints on where to stay, etc? Thanks! Ann Marie A - Hi Ann Marie, and I thought we were spontaneous! Panama is a predominantly Spanish speaking country especially when you get outside of the city. However, people are very friendly and helpful plus it is very safe, so don't stress. Make sure you have a Spanish/English dictionary handy and the cell phone with help line will be a real asset - more on that - Here are my suggestions - go here - Panama Travel. Read all about it and follow then follow the link to the "Premium Passport". Then buy the Premium Passport. Yes, it's $200 bucks but it will be the best 200 bucks you have ever spent - trust me! For one they meet you at the airport and do all of the customs and immigration paperwork for you - that is a god send. Also, you will get a few nights on the beach at Coronado (close to Altos del Maria) for free - and don't think it is some kind of Timeshare presentation set up - it's not. In Panama they are very laid back. If you are interested in Coronado someone will help you if not you get to enjoy the free accomodations and the amenities. Most importantly is that they loan you a cell phone with a free help line. That will be invaluable in finding accommodations on the fly. The Passport has many additional benefits - hotel discounts, legal advice, even discounts if you buy something. These more than pay for the passport. By the way - Prima is not my company. I just think they are doing an awesome service for people checking out Panama so I recommend them. These folks will also help you plan your trip through the country and will get you reservations, hotel discounts, etc. Check out Coronado, be sure to hit the market in El Valle on Sundays, continue on and check out the Azuero Penninsula - in particular look for a little place called, "Playita" outside of Pedasi. The continue on to the province of Chiriqui and go straight up to Boquete. You will want to compare Boquete with Altos. Pay particular attention to the amenities in both areas - i.e. shopping, entertainment, restaurants, etc. Many people in Boquete know me so be sure to let them know you are my friend - that may get you an extra discount or perhaps just an extra smile! Look to stay at Isla Verde - on your left off the main street just as you enter the village. Or the Boquete Garden Inn; Valle Escondido Resort or Los Establos if you want luxury. If you're fluent in Spanish, have already done this trip, don't want to stay free at Coronado, don't want a phone and don't like asking for help than this probably isn't for you. However, I have done all of the above and still think it is an awesome service. Kind of a no brainer in my opinion but it always amazes me how many people would rather save the $200 and then pay out hundreds more when they get there plus go through all of the aggrivation! Anyhow, I hope this helps and wish you all th best. Good luck have a great trip and drop me a note when you get back!
The information expressed here is solely the opinion of the author. Nothing on this web site or in subsequent communications is to be considered personalized investment advice .Although we may answer your general questions, we are not licensed under securities laws to address your particular investment situation. No communication by any associate or representative of Learn About Panama is to be deemed as personalized investment advice. |
