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Living in Panama from Mundo's Perspective

calendar 1/14/2021 8:00:00 AM
author Admin System

There is not much more to say about Panama that we haven't already covered at Mundo. This is because we are in love with this paradise that offers excellent weather, a diverse ecosystem, beautiful landscapes, and a rich Caribbean culture. From a business perspective, Panama is one of the best business hubs, comparable to other renowned trade hubs such as Singapore. Panama has retirement incentives, various programs with an easy and straightforward path to residency and eventually citizenship, excellent healthcare services and affordable real estate, a market expected to boom during 2021 and more. Being the bridge of the Americas and the entire world, we can say that Panama's geographic position is unique, it is the center of the 21st global economy and trade. 

If you want to invest in international real estate, Panama is the best choice with excellent planning and construction standards. Our partner's core business offers stakeholders a package of property management so that the investor can receive rental profit with minimal effort, and sometimes without even living in Panama. This is the best way to take advantage of your investment. Think about it like this: 

You purchase real estate through that purchase you acquire residency in a financial hub and tourist center. You can get ROI in rental income from this real estate and don't even have to move a finger. Our partners will take care of it all, and you can receive a transfer in your bank account while relaxing or focusing on your other interests. Our partners can offer all these solutions.

To Mundo, Panama is an emerging international power growing consistently for the last ten years. Although no investment is 100% safe, we’re happy to recommend Panama as a safe bet when it comes to business and investment. Panama's numerous financial incentives, free zones and the residency programs, which have been attractively updated lately, make it one of the best investment opportunities, especially with guaranteed income.

Panama offers a great real estate market for rental, buying and selling, and our partners provide a unique solution in which they manage it all for you. They provide high-quality projects in which you can invest, they take care of the permanent residency process and then, when you get your stunning flat with an ocean view in the hottest part of Panama City, they manage the rental while you receive a passive income. All of this can be done from your home country, and only you have to go to the nearest consulate to receive the Panamanian ID card. This is the only travel you may be required to do*. However, if the restrictions generated by Covid-19 let you, we highly recommend visiting Panama and, once your visit enchants you, live here. Panama City is a mixture between Miami and New York at a one-hour drive from the Caribbean Sea, it is a place you definitely want to experience and consider as a second home.

This is another reason why we saw an opportunity in the development of residential and vacation resorts. Being both a tourist and a financial center, this country has an important flow of visitors, and this will continue to be so once the travel restrictions become more flexible (this flexibility is already happening and, even with ups and downs, it will continue to happen otherwise the industries will collapse). Thus, our partners offer great developments that can exploit these rental opportunities providing a home for visitors and ex-pats who decide to live their lives in this beautiful isthmus. We feature our partner's projects in detail on our country page but here are their names: Buenaventura Golf and Beach Resort, The Hyde, The Yoo, The Sands, El Botanico, The Gray, the Panoramic and the Bristol Hotel residencies. These are all truly unique projects and developments offering not only comfort and luxury but great locations and, above all, a distinctive style and design. Moreover, our partners have agreed to underwrite 5-year guaranteed income yields to investors who purchase a condo or a resort unit in Panama. 

The most cosmopolitan capital in Central America, or the little New York, a.k.a. Panama City, is a vibrant destination and urban center and is very close to wonders of nature such as beaches and mountains. This is probably one of the advantages of living in such a small country. Panama is also known as the Miami of the south due to its impressive skyscrapers and beach landscapes. Among these architectural marvels, you can find most of our partner's developments in the very heart of the city. 

Panama's capital is full of fine dining places and restaurants offering a wide variety of food and excellent cuisine. Visitors and locals like to spend their days and evenings in Casco Viejo, where they can feast their eyes on the old architecture and the fantastic ocean views. Casco Viejo is similar to el Viejo San Juan in Puerto Rico and Old Havana. Casco Viejo also has a fine offer of restaurants, pubs, and bars and is a place that you will never forget. 

The city is not only rich in architecture (old and modern) but also in cultural diversity. Panama is a mixture of ethnicities where European, Panamanian, Asian, Catholics, Jews, and Muslims live together in a peaceful environment. This is reflected in the restaurant's offers and cuisine. Moreover, being a small country, not far from the capital, you will find excellent outdoor entertainment options such as beaches, hiking through tropical forests, skirting along the jungle on a train ride to Colon, or relaxing in your apartment in a resort from one of our partner's developments. 

In the evenings, you can visit the Hard Rock hotel restaurant and pub or the salsa clubs on Calle Uruguay and embrace the vibrant culture of one of Latin America's richest capitals. 

*Post scriptum: The applicant will have to travel to Panama in order to get the permanent resident card. There must be at least two visits to Panama in a five-year period. 

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Why invest in Panama?

Panama has become a world-class hub for the global economy. It is suited for the trading crossroads between North and South America and two major oceans, the Atlantic and the Pacific. For those who do not belong to the Spanish-speaking group of countries, you will find that English is widely spoken in Panama, so the language barrier is something you don't have to worry about. Thanks to its wide range of ethnicities, the country welcomes many visitors and ex-pats, who need accommodation. Therefore, the real estate market is such a great opportunity, especially now with the low prices due to the pandemics and with the possibility of acquiring residency. 

Panama's banking system is famous for its solidity and hosts more than 120 banks (international and local banks). This places Panama at the top of the Latin American countries with international interest. Many large corporations are located in Panama, including Dell, Caterpillar, and Singapore Airline. Panama is also host to the largest free zone in the Western hemisphere and the second-largest in the world.

Living in Panama is cost-effective, and the domestic labor force is available at highly competitive prices, especially when you compare Panama with the United States of America or Western Europe. Moreover, there are daily flights to important major cities in the world like Miami, New York, Amsterdam, and more. There is also a great health system with major hospitals like Johns Hopkins and Chiriquí hospitals that are attended by staff that has been trained mostly in the US or with US professionals. 

For many, personal safety is a big concern when they think about Latin America. They are right in their concern, but this is not the case for Panama. Panama has one of the lowest crime rates in Latin America because it does not have organized crime. 

One important point for those who want to invest and live in Panama is the property title. You are going to invest in a foreign country. If you want to know more about this country, you are welcome to visit our country page. However, you may still have doubts. The property title is registered in the Panama Public Registry, and our partners work only with such titles (duly registered). Panama has one title for each property. Title insurance is also available upon the investor's request. Moreover, the Panamanian law is protective in favor of the buyer and the owner. 

Are you wondering, is it worth it to invest in real estate in Panama? What returns can I get? Let's go through some statistics, shall we? Panama's real estate market has been growing at a rate of 8% annually since 2015, and, despite the pandemic crisis, it is expected to grow further in 2021.

Moreover, Panama is a politically stable country, which means that legislations are very unlikely to change. The Investment Stability law guarantees 10-year stability when it comes to the investment registration and guarantees that all tax, customs, labor, municipal, and legal rules will be the same as at the time of the investment. This will be maintained for ten years. This kind of stability is rarely found in Latin America and, frankly speaking, in most countries. Consider this when thinking about your investment in Panama and how your investment conditions will be protected and guaranteed by law.

Finally, the cherry on the cake. What would you say if I told you that you could invest in a growing real estate market, located in a world-class business center with a high quality of life, that offers you the security of maintaining the same conditions at the time of investment for ten years? And, above all, it offers PERMANENT residency in only three months and you can apply remotely.

In the area of financial investments, this is a golden unicorn. Panama has enacted new legislation that allows the possibility of acquiring permanent residency in Panama through the acquisition of real estate, which can be preconstruction, as long as you deposit all the amount of the property value into a trust, the new Executive Degree, 722 announced in October 2020 has made Panama the best investment option today because it simply offers everything an investor can wish for. Mundo and our partners are ready to help you through the process of acquiring residency and real estate in Panama.

Ask Mundo for your 5% cash-back for any purchase in January 2021.

Contact the Mundo team to learn about immigration, permanent residency, purchasing Panama real estate, or renting in Panama. Mundo can arrange a consultation directly with our developers and experts. We speak Russian, Spanish, and English. In whatever language, in whatever way, we can help you. Contact us for a consultation now. 

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