Panama Investor Blog

Best and worst of Latin Business

Chile is the best place for business in Latin America and Haiti the worst.    Mexico comes right behind Chile, while Brazil only ranks sixth, the Latin Business Index shows.

As Oscar Arias assumes the presidency of Costa Rica, he can rejoice over some good news. His country is the third-best place to do business in Latin America, according to the Latin Business Index produced by Latin Business Chronicle. And Bolivia, which has provoked concern among foreign investors for its gas nationzalition last week, is the second-worst place to do business, the index shows.

Credit Suisse 2006 report on Panama is very positive!

This is a detailed March 2006 report on Panama from the respected Credit Suisse which is very positive on the future of this country. You can download the PDF file here.

Download panama_credit_suisse_march_2006.pdf

You will need Adobe reader to open this file.

Los Faros De Panama

Reporting from the residential tourism fair in Madrid;

There are 6 Panama booths here in the fair and one  group, who by far and away, has the best and biggest display on Panama is Grupo Mall. The project they are highlighting is the Los Faros De Panama. This is a mega project to be started soon in Punta Pacifica. Its massive size dwarfs everything around it. The Americas office  building, which seems so large now, will appear small next to this giant. We will have more details on this in an upcoming report. For now take a look at the display in these photos.

"Island law" Explained

I have reported on the law #2 regarding islands in the past. The following article is the clearest explanation I have read regarding the new law.

Noted Panamanian attorney Juan Pardini was instrumental in bringing this important law forward and here he explains the benefits of the new law and its effects on foreign investment.

The New Panama Island Law
       2006-03-29
      

INTRODUCTION

 

During recent years,

Panama

has become a top destination for tourists, investors and retirees from all over the world. Most retirees or “pensionados” come looking for more friendly, secure and affordable communities, such as Boquete, Volcan, the Caribbean islands of Bocas del Toro, the Pacific beaches and, of course, cosmopolitan Pa

Panama Corporations-real asset protection!

Bob Bauman of the Sovereign Society clearly explains the advantages of the Panama Corporation. This is copied from the A-Letter sent out each day by Bob.

Dear A-Letter Reader:

If you're engaged in a business or profession that can be carried out in a foreign nation, business privacy may be another reason to go offshore.

Unlike US and many other nations' business laws and reporting requirements, selected offshore tax havens offer almost complete business anonymity. This greater privacy can work in your favor if you are a consultant, trader, or in export-import management. A good example of a business anonymity haven is offered by Panama. There you can form an international business corporation (IBC) at a cost of about $1000, with annual maintenance costs even lower. More importantly for privacy, the IBC can be formed by "nominee" directors who hold the organizing meeting and turn over control to you. There is no requirement that the true beneficial owners be listed in pub

A visit to Hacienda Los Molinos

I had an opportunity this week to visit Los Molinos with Carlos Troutch, the developer of the residential project. This is one of the most advanced master planned communities currently underway in the Boquete area. Los Molinos is located just south of the turn off to the town of Caldera on the road to David. The first phase of the project is well underway and a second phase is in the planning stage. Carlos gave me a tour of the new hotel they are building on the edge of the canyon. The views are absolutely stunning and the hotel is very well done. The bar hangs out over the edge of the canyon and provides a stunning view of a waterfall on the other side dropping over a hundred meters to the Rio Cochea below.
 

Playa Bonita report

I had the pleasure last week to tour Play Bonita's Intercontinental Hotel and resort with Mr. Herman Bern, the developer. This is a world class resort located just 15 minutes drive from downtown Panama City. You cross the bridge of the Americas over the canal and take the first exit. The resorts sits on a beautiful half moon bay surrounded by rain forest. The view is out to islands and ships waiting to enter the canal just a few miles away. There are 300 rooms (200 completed) with over 30 beautiful suites. Every room has a wonderful view of the sea. There is a magnificent lobby with a large seating area, lobby bar, restaurant and meeting rooms. There is also a grand ball room/meeting room larger than any in the country. The health spa is not yet open but will encompass over 12000 square feet. The various pools meander along the beach where there are two more restaurants serving a variety of foods. Although they have opened they will not have their official grand opening until March when all of the facilities are up and running. Mr. Bern hints at the possibility of a residential component to Playa Bonita that may be announced later in 2006! Congratulations to Mr. Bern for another great project that will help propel Panama to the top of the Americas resort destinations.

See the latest photos here.

Developing in Nicaragua

With the help of a fast Jet and helicopter I was able to leave home in the morning, get to Nicaragua's Pacific Coast, and back home in Boquete for dinner on Wednesday. I made this quick trip to see a residential housing development on the Pacific coast.

I was pleasantly surprised while visiting this 400 hectare beach project in San Juan Del Sur . There were about 20 homes under construction and they were constructed out of wood imported from Brazil. They were very warm and attractive. The views from the decks looked out on the deep blue Pacific from a height of several hundred feet. They were strategically perched upon cliffs taking advantage of the wonderful views without spoiling the area around them by cutting trees. In fact several were built with trees passing right through the homes.

APEDE tourism forum focus on "Residential Tourism"

The momentum for "residential tourism" continues to build as APEDE, (Panamanian Association of Business Executives) had a forum on tourism yesterday. The final two hours of presentation were devoted to "residential tourism" which was cited as the fastest growing segment of tourism in the country.

List of Residential tourism projects in Panama

This is an excel file listing all of the existing projects, either underway or planned. It includes thier size infrastructure and other important data. Dr. Lachman used much of this information in his economic impact study.

This file was complied in July of 2005 and I have found there to be several other projects planned that will increase the number significantly in the next few months. I will update it as they are announced.
Download rtc_projects_nuevo.xls