Panama Offshore Legal Services Blog

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

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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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Panama’s Economy Grows Nearly 6% in Q2 2015

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After a slow 2014, indicators are showing Panama’s economy growing strong as we close out 2015. In fact, according to recent data, Panama’s economy grew by 5.8% in Q2, 2015, which is higher than expected, and great news for offshore investors hedging future bets on Panama’s leading economy. This growth bucks the trend of 2014, where three years of nearly double-digit growth cooled, leaving many to wonder if the overall growth was sustainable. However, with tourism on the rise, and construction maintaining its steady output, Panama’s economic growth shouldn’t come as a surprise to anyone. What’s more, it may be a sign that those numbers will grow ever further in 2016. Continue reading »

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7 Reasons Why 2016 will be Great to Live and Invest in Panama

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There have been plenty of reasons to live and invest in Panama over the past few years, but as we end 2015, it’s becoming apparent; 2016 will be a great year to live and invest in Panama. The reasons are many, and each person who decides to live and invest here has their own. However, if you look at past growth and future predictions, Panama is becoming more and more appealing. Here are 7 great reasons why next year should be your year to make the move. Continue reading »

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How Will the Panama Canal Affect Your Offshore Investments in 2016?

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If you’ve got offshore investments in Panama currently, or plan to make some in the next year, then the Panama Canal Expansion should be squarely on your radar. Though it’s been mired by work delays in the past year or so, the Canal is on schedule to be finished in early Spring 2016. This expansion is one of the most economically anticipated events in recent history in Panama, and investors are excited about how it will affect their bottom line, and future opportunities in the country. Whether you’re invested in Real Estate, logistics systems, services, or finance, you will see a positive ripple effect from the Panama Canal Expansion; and if you’re an offshore investor in Panama, that’s great news. Continue reading »

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Want to Invest in Real Estate? Look No Further Than Panama.

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If you’re looking to invest in Panama, buying property in Panama should be at the top of your agenda. Panama has a growing economy, uses the US dollar, and has almost unparalleled economic stability when compared to other countries in the region. There’s the booming business center of Panama City, the retirement havens of Boquete and Coronado, and the up and coming suburban areas in and around the capital. If you’re looking for a unique Real Estate investment opportunity, Panama’s probably got it, and got it at a great price. There is a huge demand for foreign workers, and an even larger tourism boom, making the Real Estate market red-hot. Continue reading »

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