100 years for world’s leading registry, Panama. | Weekly News Roundup, July 21st, 2017

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100 years for world’s leading registry, Panama.

The world’s leading registry, Panama, will mark its centennial on Dec. 15. In the months ahead, the Panama Maritime Authority plans various activities and awareness campaigns under the slogan ‘Panama’s 100 years of registering ships—joining ports, seas and people.’

The Centennial deserves special recognition, according to Panama Maritime Authority administrator Jorge Barakat Pitty. Campaigns will be carried out at the national level so Panamanians understand the importance of the country’s maritime identity on the global stage.

Panama’s international registry was enacted Dec. 15, 1917, and the first vessel flagged was a freighter, Belén Quezada. In 1925, a further law established a system of incentives for shipowners such as double registration and special tax conditions for Panamanian ships engaged in international traffic.

Source: Seatrade Cruise News

FAO expands its field of action in Panama and Central America

During his visit to Panama, FAO Director-General José Graziano da Silva signed four cooperation agreements aimed at accelerating the eradication of hunger, and established an alliance with a regional organization geared to reducing poverty and malnutrition around Central America.

“Panama has showed commitment at the highest level to eradicate hunger and achieve the goals of the Sustainable Development Agenda for 2030,” Graziano da Silva said during a meeting with Juan Carlos Varela, President of the Republic of Panama.

FAO’s Director-General signed agreements with the Agricultural and Livestock Development, Environment, and Foreign Affair Ministries as well as with the central government. The agreements are aimed at tackling the main causes of malnutrition in Panama and to share its experiences with other developing countries.

“Panama has developed an innovative multi-sectorial approach to reduce malnutrition through the implementation of public policies requiring coordination between several ministries,” Graziano da Silva said.

Source: ReliefWeb

Chemical weapons from secret Canadian-U.S. mustard gas program in Panama to be destroyed.

The U.S. has agreed to destroy chemical bombs left over from a secret U.S.-Canadian test program that conducted mustard-gas experiments on various ethnic groups during the Second World War.

The eight bombs were discovered on San Jose Island, the site of an extensive wartime chemical weapons test program and, later, the location for several seasons of the Survivor reality TV series.

The weapons on the Panamanian island will be destroyed in September.

Canada’s Department of National Defence had warned years ago that Canadian-made mustard gas and other chemical weapons might still be found on the island, according to documents obtained by the Ottawa Citizen through the Access to Information law.

Source: National Post


Panama Prices Pt. 1: What to expect to pay when you’re here (2017)

This topic is easily the most popular when it comes to generating discussions about retiring, and moving to Panama in general. In reality, it merits far greater examination and survey than a simple blog post. That being said, without getting in the nitty gritty about Panama’s economics, we can give you a straight forward, accurate, and honest description about what things cost here, and what to expect to spend while you live here. Remember, prices can vary greatly depending on the goods, service, or business, so understand that this is an average estimation, not an exact science. Here are the basics:

Again, way to big for a simple article, but here is what it will cost you, in general to rent or buy a home in Panama. Rentals in the centrally located parts of Panama City tend to be the highest in the country. A 1,000 sq. foot (90 sq. meter), 1-bedroom apartment will run you from $1,000-$2,000 depending on the area and building, with the average hovering closer to $1,300 in most neighborhoods. These neighborhoods include El Cangrejo, Bella Vista, Marbella, Punta Paitilla, Punta Pacifica, and Ave. Balboa. Most of these apartments are furnished, and leases typically run for one year. Rentals in most city suburbs cost about 20-30% less.

Source: POLS Blog


About Manoj Chatlani

Manoj Chatlani is a Senior Partner at POLS Attorneys, a full-service law firm in Panama City, Panama. Specializing in offshore services, including asset protection, estate planning, offshore banking, and offshore corporations, as well as Panama immigration and real estate transactions, POLS Attorneys offers clients a streamlined solution to all their Panama legal needs. Manoj is a Panamanian lawyer and holds a law degree from USMA and earned a Masters in Communication Law and Panama Tax law.

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