Panama Offshore Legal Services Blog

Mobile Pay, E-Commerce Gains Momentum in Panama

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Panama has been trying to market itself as a Latin American tech hub for quite some time now, and now with mobile payments and e-commerce, they’re keeping to that promise. Although Latin America, in general, has been slower than other parts of the world to adapt to the e-commerce market, Panama is looking to change that in the immediate future. And international investors and startups are looking at investing in Panama as an ideal growth market for this type of commerce. Continue reading »

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Panama’s Economy Closes 2015 With Positive Growth

Panama's Economy in 2015
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Panama’s economy over the past six years, on average, has grown by nearly double digits. However in 2014, the economy slowed down a little bit, causing some to be cautious. Now, as we head full steam into 2016, it appears the slowdown was merely a hiccup, and Panama’s economy is showing strong, positive growth for the near future. Investments in Panama largely rely on future predictions, and long-term strategies; which is why steady positive growth, even if it’s not at the boom levels of 2010-2012, is very important to the overall economy in the country. Continue reading »

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What We Can Look Forward to in Panama in 2016

Panama's Economy in 2015
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The holiday season is in full swing in Panama, and that means that we’re approaching the end to another exciting year. As with many of the years previous, a lot has changed over the course of 12 months in Panama, and 2016 is looking to be even bigger. Panama is a country of growth, and despite a few economic hiccups in 2014 and 2015; financial analysts still predict healthy growth in the New Year. But it’s not just about the economy when it comes to living and investing in Panama. Quality of life is equally important, for both expats and locals, and in that regard, 2016 looks pretty bright too. Here are some of the things we have to look forward to as we move into the New Year. Continue reading »

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Panama Ranks 3rd in LatAm/Caribbean for International Franchise Investment

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Panama is a hot market for a variety of international investments. And for the most part, a lot of the consumer investments revolve around major international franchises. This has a lot to do with consumer culture in Panama, as well as Panama’s reputation as an international tourism and business hub. People who shop in the Panamanian market expect a world-class product brand experience, which makes franchising in Panama so attractive. And if you follow the data for Latin America, Panama is one of the top countries for international franchise investment. Continue reading »

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Panama Studies Cross-Country, High Speed Train to Connect Major Cities

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Panama has made significant strides in transportation infrastructure and access over the past 4-5 years. The most prominent projects have been the Metro (Subway), Metro Bus, and the expansion and modernization of the Pan American Highway. Now, President Juan Carlos Varela has appointed a team to study the feasibility of a cross-country, high-speed rail line. The two anchor stops would be Panama City in the east, and David in the western province of Chiriqui. Both cities are Panama’s two main business centers, with an increasing amount of investment and tourism making Chiriqui a hot destination going into 2016 and beyond.  Continue reading »

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Panama’s Western Suburbs to be Transformed by “City of Hope”

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A few weeks ago, ground was broken on one of Panama’s most ambitious residential projects to date. But unlike much of the new luxury construction in the city, this project is decidedly different. City of Hope will be classified as affordable housing; something that new Panamanian development is sorely lacking. Known as “Ciudad de Esperanza” in Spanish, the project will be built as a mass-scale affordable housing community in one of the city’s most underdeveloped, but densely populated areas known as Vista Alegre, in the area of Arraiján. This area, despite being largely ignored by property developers in the past, has a strategic location near the west bank of the Canal, and serves as a residential community for many of Panama City’s commuting workforce. Continue reading »

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Panama’s Economy is Ranked 9th Worldwide for Foreign Direct Investment

Moving to Panama
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Panama’s economy has only recently gained significant global recognition, despite nearly double-digit growth over the past ten years. And this year, it appears that the growth trend is continuing stronger than ever. Panama is a small country with a lot of potential, open markets, and favorable investment and lender regulations. It’s also one of the best logistically placed countries for business in the hemisphere. In recent statistics marking economic strength and competition, Panama ranked 2nd in all of Latin America, and in the top 50 in the world; and for a nation that’s growing so fast, these numbers are impressive. Continue reading »

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Tourism in Panama Continues to Fuel Service-Based Economy

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Tourism in Panama has been a growing sector for many years now, as Panama has become a go-to Latin American/Caribbean destination for international travelers. However, not everyone in Panama is a believer. Hotels have had a tougher time filling rooms than expected, despite an increasing number of tourists. Many small business owners felt there was, in fact, a lull period in spending between 2013-2015, again, despite increasing amounts of actual tourists entering the country. In a nutshell, the economy doesn’t just rely on tourists coming into the country; it relies heavily on how much they spend while they’re there. In the case of 2015, according to the numbers so far, both are now happening at healthy rate. Continue reading »

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Panama Investing Big in Clean energy and Sustainable Development

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Earlier this month, Panama took a huge step towards clean energy and sustainable development when it was announced that roughly $1 billion would be invested into solar panels and other clean energy projects. The investment, lead by Canadian green energy group SkyPower, would add 500 MW of pure solar power through various projects throughout the country. This clean energy solution will be partnered with a $50 million environmental research facility, dedicated to finding sustainable clean energy technologies for Panama, and furthering innovation through photovoltaic systems. Not only is this great for Panama’s quality of life, but it also presents a great Panama investment opportunity, and with $1 billion slated to go in, SkyPower is setting enormous precedent. Continue reading »

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Panama’s Construction Industry is Growing Again with Big Economic Benefits

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If 2015 is any indicator, Panama’s construction industry is growing again, and that’s great news for the economy. Panama went through a construction boom during Martinelli’s presidential term that was unprecedented for such a small nation, and in Central America in general. This construction boom ran parallel to Panama’s double-digit economic growth, and likewise, when the economy slowed down in 2014, so did the construction industry. But all signs are looking up these days, and Panama’s quest to be a construction leader in the region is right on track. Even better, it’s adding more and more jobs, which is great news for future investments. Continue reading »

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