Sources: Instituto Nacional de Estadística y Censo World Bank
(Year 2021) 4.31% are immigrants
( Year 2020 )
( Year 2020 )
Wholesale and Retail Trade
$6,313,9 Million
Transport and Comunication
$5,364,8 Million
Real Estate
$5,054,4 Million
Construction
$3,373,7 Million
Financial Intermediation
$3,087,9 Million
Manufacture
$1,693,5 Million
Electricity and Water Supply
$1,667,2 Million
Agriculture, Hunting, Forestry and Fishing
$1,500,0 Million
Mines and Quarries
$1,345,7 Million
Other Services
$1,300,4 Million
Hotels and Restaurants
$1,000,0 Million
Among the outstanding sectors, there is the Panama Canal, air transport, the Colon Free Zone, port services, trade, construction, transportation, communications and financial services.
The official language of Panama is Spanish. By being the “hub” of the Americas, English has a relevant presence and was fostered by North American influence and the importance of the Panama Canal to the domestic economy.
Panama utilizes the Balboa, in addition to the US dollar, as its legal tender. It should be noted that the Balboa is not a standalone currency but rather a derivative of the North American monetary unit. As a result, Panama exclusively mints Balboa coins and does not issue banknotes.
The Republic of Panama is located in the neotropical region which is known for its predominantly tropical climates. The country experiences two distinct seasons determined by the rainfall patterns: the dry season, locally referred to as “summer” and the rainy season, known as “winter”. These seasons are opposite to those in the northern hemisphere. Additionally, it is worth mentioning the occurrence of a phenomenon called “Veranillo de San Juan”, which briefly interrupts the rainy season on the Pacific slope. On the Atlantic slope, rainfall persists throughout the year without a well-defined dry season.
If you enjoy nature, Panama offers unique and diverse locations to make life a truly spectacular experience.
Panama is renowed for its cosmopolitan capital, which offers a vibrant night life and diverse gastronomy, convention centers, and shopping destinations that provide access to renowned global fashion brands. All of which enhance living in the country.
Panama has excellent and fast internet connectivity services throughout the country, making it very attractive for remote work.
Panama enjoys a stable and growing real estate market. The transformation of its infrastructure, means of transportation, and tourist developments make Panama the perfect place to invest in real estate.
Panama is a great destination for real estate investment and is positioned as one of the most attractive economic platforms in the region, maintaining a consistent growth trend.
It is a safe option for many investors, not only because of its geographical advantages and having the best connectivity in the region, but also because of its tax subsidies, which are added benefits for anyone who chooses Panama as their investment destination.
Panama is widely recognized as one of the most stable economies in Latin America. It boasts a dollarized economy and serves as a significant financial center and air transport Hub. Additionally, Panama offers a diverse range of real estate options, including properties in the city, interior regions, and beach communities.
In Panama the Real Estate sector is regulated by la Junta Técnica de Bienes Raíces.
If you enjoy nature, Panama offers unique and diverse locations to make life a truly spectacular experience.
Miguel González: Since the age of 12, thanks to my parents, I have been involved in the stock market and everything related to the world of finance. During the 80s they gave me a taste for numismatics and the trading of precious metals, particularly gold and silver. This was an exceptional time in the markets.
After completing my studies in economics and law at the University of Geneva (Switzerland), I went on to develop my professional career in banking and finance working at prestigious Swiss banks. After being a Vice President at a Bahamas-based Swiss bank for almost five years, I was appointed at age 35 as Director/CEO of another Bahamas-based Swiss bank, making me one of the youngest Swiss bankers to attain a directorship, developing the entire operation and directing it for 14 years. Nearing 50 years of age and recognizing the opportunities in the sector, I made the decision to be independent and open a broker-dealer in Panama. My focus and commitment is to grow wealth through diversified portfolios and provide personalized service.
Panama offers temporary and permanent visas that allow you to live in the country.
Applying for a residence in Panama is not only a good immigration decision: it is also a smart financial strategy. Residents and citizens can work, live and do business more easily with the same rights as native Panamanians.
Panama offers various options for obtaining permanent residence, with the possibility of later becoming a Panamanian citizen.
For more information go to: https://www.migracion.gob.pa/permisos-y-requisitos-paravisas/permisos-migratorios
Currently, there are increasingly competitive projects, as well as a wide range of laws with incentives targeting the fiscal, labor, immigration and customs sectors. They include designation of special economic zones, which under certain circumstances favor the establishment of businesses, whose operation generates jobs and contribute to the economy of goods and services. All of which position the country as an investment friendly one.
If you enjoy nature, Panama offers unique and diverse locations to make life a truly spectacular experience.
Mixed use historic area with investment benefits such as lower loan interest rates, income tax exemption, and importation of materials for restoration or construction.
Mixed use area (residential and commercial) developed by the company London & Regional Panama, which offers maritime, aviation, technological, logistic, administrative, offshore, call center and manufacturing services.
It is the second largest free trade zone in the world and one of the world's leading multimodal distribution centers.
With a strategic location just minutes from the three best cargo ports in the Atlantic, it is an ideal hub to access the markets of Central America, the Caribbean & the Andean community.
Scientific, technological and business park that provides research and scientific development services.
If you are seeking to reside in Panama, you should consider the different healthcare options available. Rest assured that you can always receive the best care within the private hospital network.
Panama provides a healthcare system with excellent and high-quality service that is affordable. It is equiped with state-of-the-art technology and staffed by highly qualified doctors and medical professionals.
Private health insurance in Panama is significantly lower in cost compared to other countries in the region.
Foreigners residing in Panama from 55 years of age (women) or from 60 years of age (men) enjoy the following benefits:
Off
In the total bill for hospital services and private clinics.
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In general medicine consultations, medical specialties and surgical procedures.
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In fees for technical and professional services.
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In the value of medicines.
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In optometry and dental services.
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In prosthetics, devices and aid accessories.
If you want to settle in the country and still have children of school or university age, Panama offers accredited international schools (IB, Cambridge, etc.) at the primary and secondary level of education, as well as bilingual Panamanian schools that adapt to your needs, since they also use two types of school teaching calendar: A (from March to December) and B (from August to June).
At the University level, Panama offers various options that will allow the future professional to be at the same level as International Universities. There are American Universities with a presence in Panama that offer young people the chance to finish their studies at their main campuses.
“Education is the key to unlocking the world, a passport to freedom.”
Oprah Winfrey
In each of these places, you can enjoy various recreational activities, explore nature, immerse yourself in the local culture, and marvel at the beauty of Panama
Bocas del Toro: Enjoy crystal-clear waters, surf, dive among coral reefs, and explore nearby islands like Isla Colón and Cayo Zapatilla.
San Blas: Discover a Caribbean paradise with white sandy beaches, turquoise waters, and experience the Guna indigenous culture, visit the islands, and engage in activities like snorkeling and kayaking.
Santa Catalina: Ideal for surfing and diving, you can also go whale watching, explore Coiba Island, and relax on its beautiful beaches.
Volcán Barú: Venture to climb Panama’s highest peak, enjoy breathtaking panoramic views, camp, and witness the sunrise from the summit.
El Valle de Antón: Explore a valley surrounded by mountains, visit waterfalls, relax in natural hot springs, hike along trails, and admire its biodiversity
Casco Viejo: Stroll through Panama City’s historic district, discover its colonial architecture, visit museums, enjoy gastronomy, and experience its vibrant nightlife.
Panama Canal: Observe the operation of this engineering marvel, visit the visitor center, and marvel at the passage of ships through the locks.
These luxury sports showcase the opulent side of Panama’s recreational scene.
Golf: Panama offers world-class golf courses, attracting golf enthusiasts who enjoy the lush landscapes and challenging fairways.
Yachting: With its stunning coastline and access to the Caribbean Sea and Pacific Ocean, it is a favored luxury sport in Panama.
Equestrian Sports: Horseback riding, polo, and show jumping are enjoyed by the affluent community, with exclusive clubs and events
Sailing: The pristine waters of Panama provide an ideal setting for sailing, attracting those who appreciate the elegance and thrill of the sport
Tennis: Panama boasts luxurious tennis clubs and facilities that cater to high-end clientele, offering top-notch amenities and services.
Sportfishing: Panama is renowned for its elite sportfishing opportunities, where enthusiasts can pursue prized game fish in style and comfort.