During the past year, we've been focusing on Panama in several aspects. A quick glance at our blog section will show that Panama has been featured in all categories. This is not surprising if we consider that the country ticks all the boxes offering virtually every service available to perpetual travelers.
If you've been paying attention and understand the significance of Panama and the opportunities it offers, you may be considering relocation. This is why Mundo has prepared this Panama trivia so you can see how much you actually know about the country. What language do they speak in Panama? Is Panama in Latin America? Let's see if you can get all the answers straight.
Diving Deeper into the Heart of Panama
The reason why we've been continuously highlighting Panama’s advantages is that we consider them wide and comprehensive. Besides maybe citizenship by investment, Panama has virtually all the necessary tools for an optimal financial plan. We even dare to say that this may be a jurisdiction to cover three of the five flags.
Residency Programs
Panama is at the forefront of modern immigration providing a wide scope of residency programs catering to different needs. The most popular one in 2024 was the Qualified Investor Visa. It's not surprising that it has gained popularity since its introduction as it provides an easy way to immediate permanent residency. There are three investment pathways that include a real estate purchase or a contribution to the country's economy through the stock market or a local bank. From these three, Mundo recommends real estate because it opens a world of opportunities for residency and rental income.
Asset Protection
The Panama foundation competes hand in hand with the same structure in Lichtenstein, and it may even win the contest. In Panama, you can protect your assets by transferring them to an entity called a foundation, which works like a trust only with a different legal structure.
Free Zones and Business Incentives
Panama is famous for its free zones and special economic zones. In the city of Colon, you'll find the second-largest free zone in the world offering incentives for all kinds of companies, especially those conducting import and export activities.
Panama Trivia: How Well Do You Know Your Future Home?
If your mind is already set on Panama, then why not test your Panama knowledge? We've prepared this Panama trivia presenting a series of questions. The answers are right below so that you can give yourself honest feedback and understand whether you need to research more about your new favorite country.
Is Panama in Latin America?
The answer is a plain yes. Latin America is formed by the countries that speak languages derived from Latin. This means that Latin America extends from Mexico to Argentina including Portuguese-speaking Brazil. Is Panama in Latin America or in Central America? The answer is both. Panama is right between Central and South America bordering Costa Rica to the west and Colombia to the east.
When Was Panama founded?
Panama was founded in 1519 by Pedro Arias de Avila. This makes it the first European settlement on the Pacific coast. In colonial times, Panama represented a key harbor allowing access to the Caribbean from the South. It was also key in transporting the gold obtained in Peru and Bolivia.
What Language do They Speak in Panama?
The official language is Spanish as Panama is a former Spanish colony. However, if we really need to answer what language do they speak in Panama, it's important to highlight the country's cosmopolitan environment. Panama has an extensive percentage of foreign residents which means English is widely spoken. You may be surprised to find many Chinese-speaking people, particularly speaking Cantonese and Mandarin, but you shouldn’t be because Panama is home to a vast Chinese community.
What is Panama Geographically?
When you are settled in Panama and speaking to your local friends, you may hear that they refer to it as “the isthmus”. This is because Panama is an isthmus, that is, a relatively small piece of land connecting two continents.
What Is the Most Important Construction in Panama?
This is, without a doubt, the Panama Canal. It is one of the greatest engineering works of all time and its construction, in 1914, meant a turnkey point in the history of traveling and commerce. Before the canal, shipments would have to be done through land from the West to the East Coast as the only maritime passage was the Magellan Strait in Patagonia.
If you are into Panama trivia you can't overlook such an important work which still plays a vital role in worldwide commerce today. Furthermore, it constitutes a key driver for the local economy helping the country flourish as an international business hub.
Disclaimer: This article presents general information about Panama and Panama trivia. Hence, this article should not be taken as financial or legal advice, or as official research about the country. Before moving to Panama or making any important financial decisions, make sure to consult with a certified professional and conduct proper research.
What Have We Learned from This Panama trivia?
How many answers did you get right? Did you already know when was Panama founded or what language do they speak in Panama? How much do you still need to learn about the country? Probably Panama will still surprise you with interesting facts about its culture and history, and this is precisely what makes it interesting.
The Mundo team is spread across different countries and many of our people are located in Panama. This gives us a deep insight into the country's opportunities including real estate deals, bank accounts, company incorporation, and residency programs. Write to us and let us help you relocate to Panama or make it your new hub for business.
