Welcome to the Panama Weekly News Roundup! Here’s the latest.
Panama Registers 8% Increase in 2016 Bunker Sales
Panama has registered an 8% increase in bunker sales volume for 2016 over the previous year, according to preliminary data from The Panama Maritime Authority (AMP).
In 2016, Panama sold approximately 4m tonnes of bunker fuels, up from 3.72m tonnes sold in 2015 and a stronger 25% jump over the 3.2m tonnes sold in 2014, the data showed.
Last year’s total bunker sales included 3.13m tonnes of sales in Balboa on the Pacific side of the Panama Canal, and 883,973 tonnes of sales came from Cristobal on the Atlantic side of the canal.
Source: Seatrade Maritime News
It’s This Easy to Retire Abroad in Panama
Retirement can be costly. With the average life expectancy rising, and the costs of healthcare, insurance, and other expenses in flux — those working hard in their careers may feel like there’s little chance they’ll be able to retire and live comfortably after they leave their final jobs.
The Panamanian government wants retirees to move there and has created policies that welcome them with open arms. For one thing, getting a Panamanian visa is very easy. The Pensionado Visa program allows retirees with $1,000 or more of lifetime monthly pension payments — such as Social Security checks — to get resident status. If you buy property in Panama, the monthly pension limit is even lower.
There are some other pleasant bonuses with this visa, like discounts on medical expenses, travel, food and entertainment, and even cheaper government services like electricity. Even if you don’t meet the $1,000 monthly pension threshold, there are other relatively easy ways to qualify for resident status. Regardless, retirees should plan to get a get a lawyer and an accountant to help with the legalities (more on this later).
Source: The Motley Fool
Don’t Take Panama for Granted
Roughly one-third of all U.S. grain exports travel through the Panama Canal, according to information from the U.S. Grains Council. This is huge, especially when it comes to the U.S. agricultural industry. Here’s some good insight as to why this is something the American, and global community shouldn’t take for granted.
Most of us in Upper Midwest agriculture don’t think much about the Panama Canal. We probably take it for granted.
But the U.S. Grains Council knows better. The group — a private, non-profit partnership of farmers and agribusinesses that promotes international markets for U.S. barley, corn, sorghum and their co-products — is holding its annual marketing conference and membership meeting in Panama.
Source: AG Week
Enjoy Carnaval in Panama: Your quick guide to a long weekend of events
Carnaval is almost here, and that means lots of fun and culturally exciting events here in Panama! You’ve heard about the parties, and the water hoses, and the music, but did you know that there’s also a lot of deep cultural significance to these yearly celebrations? Read more from our latest blog post!
Carnaval has a few major celebrations that draw the attention of most of the country, but they also have some amazing smaller ones as well. Pretty much each neighborhood, town, or public square has their own local parade, and these are a great way to get to know the local culture. It may be hard to find when smaller events are listed, but if you ask around town, or simply go to the main square or avenue in your neighborhood, you’re sure to find something going on each day during Carnaval.
Source: International Relocation Firm Blog
