Panama is considered an attractive destination for expats, retirees, business people, entrepreneurs, and even digital nomads who are calling Panama home for part of the year. Some live in downtown Panama City, some at the beach, and some rarely visit Panama. Still, they all share benefits and incentives the Panamanian government has put in place for investors from all over the world. Opportunities exist from high-rise luxury condos to micro-apartments, and construction is taking place everywhere as new condo towers keep rising all over Panama City.
International Living magazine ranked Panama the world’s best retirement haven on its 2019 annual list. In Panama, it’s straightforward to get a retiree visa. Retirees living in Panama enjoy lots of discounts and exclusive perks. The healthcare facilities are excellent, and first-class local health insurance is a bargain.
Panama stands out among the world’s expat destinations because it offers solid infrastructure and first-class amenities. Panama provides a fabulous lifestyle at an affordable price for those looking for a country with an inexpensive cost of living. Panama is one of the most diverse countries in the world, with a unique wild and untouched nature, deserted tropical islands and beaches, along with the modern cosmopolitan capital city, a skyline of skyscrapers, impressive office buildings, condo complexes, 5-star hotels, and international restaurants, with incredible views of the Bay of Panama.
Panama’s approach to personal and corporate taxation makes starting a business in Panama much more rewarding than anywhere else. Panama’s economy is growing every year, and infrastructure projects encourage foreign direct investments. As a result, many foreign entrepreneurs incorporate their companies in Panama. This straightforward procedure takes around two weeks, no bureaucratic tape, no necessary to be in the country during the process.
One of the reasons to register a business in Panama is its territorial tax system, where the income that is obtained outside the country is free of income tax.
Panama has one of the fastest-growing economies in the world and the fastest-growing market in Latin America. Panama is a major international commerce and banking hub, home to giant multi-national companies and organizations. The country’s crucial geographic position, and the significance of the Panama Canal, place this destination is an essential point on the world map. Panama’s economy is robust, stable, and steadily growing, among others, due to the canal and the massive amounts of wealth that move through it.
After a recent visit to Panama, The International Monetary Fund (IMF) concluded its trip with a formal statement: “Panama remains one of the most dynamic growing countries in Latin America.” GDP growth in Panama has exceeded that of every other country in the Americas over the last three decades. Its stable politics, dollarized economy, business-friendly environment, and strategic location continue to make it a magnet for foreign investment.
Despite the small area of Panama, its ecosystems are reflected in its astonishing terrestrial and marine biodiversity. Tropical territories are home to some of the most exotic species of plants, as well as endangered and protected animals. Covering almost half the country’s land surface are vast areas of rainforests, amazing green landscapes, breathtaking waterfalls, and mountain cloud forests. Panama has hundreds of tropical islands, long Pacific and Caribbean coastlines with stunning beaches, white sand, and bright blue water.