Panama is a great place to invest, retire or own a second home — a paradise that has been attracting foreign investors from around the globe for the past 100 years.
The Punta Pacifica Team is ready to help you with every aspect of your Panama investment, including:
- Legal Services
- Property Management
- Furniture packages
Here is a short list of the factors that make Panama a great investment and retirement option.
- The Panama Canal currently generates an average of $2 billion in revenue every year, providing a strong foundation for the country’s economy and attracting multi-national companies from around the world.
- The Panama Canal is currently being expanded at a cost of $5.2 billion, resulting in significant foreign investment.
- Once the expansion is completed, revenues are expected to more than double to $5 billion per year. This expansion is scheduled for completion in 2015.
- Panama is the largest off-shore banking center in the world after Switzerland, often called the Switzerland of the Americas.
- Panama is an international banking center including more than 80 banking institutions.
- Panama banks have collective assets in excess of $75 billion.
- The government plans to spend $13.6 billion on infrastructure and social programs by 2014.
- The government of Panama has earmarked and begun spending $2 billion for an overhaul of Panama City’s public transport system, including an underground subway line which is currently under construction and scheduled to begin operation at the end of 2013.
- Tocumen International Airport in Panama City, is in the process of expanding to accommodate 40 percent more traffic.
- A new international airport has already begun construction in Rio Hato. This airport will provide international flights to the top beach destinations and resorts in Panama.
- Panama’s major port operators are investing over $300 million to improve port infrastructure.
- Panama benefits from five of the major submarine telecommunications loops traversing through the country.
- Additional Mega-Projects: Some major oil refinery projects have also been proposed and if approved, these projects will total over $10 billion in investments.
- Investors in Panama are currently involved in telecommunication and hydroelectric projects worth $7.2 billion.
- Panama is set to become the second largest copper producer in the world.
- Panama has the highest tourism growth rate in Latin America.
- Panama has, and is attracting many of the most recognized hotel brands in the world such as Trump Ocean Club, Hilton, Waldorf Astoria and Ritz Carlton.
- Panama recently opened a home port for the largest cruise companies such as Royal Caribbean and the Spanish cruise company, Pullmantur.
- Forbes Magazine ranks Panama #4 worldwide in tourist destinations.
- Johns Hopkins Hospital is leading the path in medical tourism in Panama.
Colon Free Trade Zone
- The Colon Free Trade Zone is the largest free zone in the world after Hong Kong.
- Over 2,500 companies operate within the Colon Free Zone.
- The Free Zone handles more than $16 billion in imports and re-exports each year, and is expected to increase productivity by 7% each year for the next decade.
- The Colon Free Zone employs more than 28,000 people, with the best-trained bilingual work force in Central America.
- Panama routinely earns the highest investment ranking in Latin America; equal with Brazil and Chile.
- Panama Averaged 8 percent annual growth between 2000 and 2012, the fastest pace in Latin America.
- Panama’s economy continued to grow during the global recession.
- Panama’s economy is expected to grow at an average annual rate of more than 5 percent through 2015; one of the highest projections in the world.