The political system of Panama lies within the framework of the presidential elective. This means that the President is the head of the state and he is elected by the people. The executive decision making power lies in the hands of the government. The legislative power authority is vested in the National Assembly and the government. The judiciary is an independent organization and it does not come under the preview of executive legislature.

The national elections are of universal nature. They are open to all citizens of Panama however the mandatory minimum age of voting is fixed at 18 years. The national elections for the executive council are held every 5 years and the head of the party that has won the elections becomes the President. He then appoints his own council of ministers who becomes a part of the executive committee. The head of the state appoints the judicial branch consisting of justices.

The National Assembly of Panama is elected on a proportional basis in the fixed electoral districts. This way many small parties have a chance to represent themselves. Normally the presidential elections don’t require a simple majority. For example, out of the last four presidents only one president was elected by having 50% majority vote.

The invasion of USA put an end to the 21 year old military ruler. The country has transferred power peacefully for about 4 times in the past. There are two major parties that control the political landscape with several minor parties. These parties are driven by the different ideologies of the individual leaders. The most recent elections were held on May 3, 2009. The new president elected was Ricardo Martinelli. He has sworn for a five year term which will end in 2014.

The Republic of Panama lies on the southernmost part of the stretch that connects North America to South America. It is also the southernmost country of Central America. The country is bordered by Colombia to the southeast, Costa Rica to the northwest, Pacific Ocean to the South and Caribbean Sea to the North. The country has a heavy Spanish influence and it is largely because of the invasion of the Spanish in the 16^th century. Panama separated from Neuva Granada which then became the Republic of Colombia.

Panama has the backup of United States to get itself separated from Colombia in 1903. The Panama Canal was then built by the US Army Corps engineers between the years 1904 and 1914. In 1977, United States agreed to transfer the rights of the Panama Canal to Panama Republic. Today a significant part of the GDP of Panama comes from Panama Canal. This is because hundreds of ships cross the canal and pay the toll. Panama is the 4^th largest economy in Central America. It is however the fastest growing economy.

By the year 2010, Panama has become the second most competitive economy in Latin America. Panama Republic is known to have the largest rainforest in the Western Hemisphere after the Amazon basin which is the largest rainforest in the world. The Republic of Panama has jungles in abundance with thousands of species of tropical plants, animals and insects.

However there are several theories of how the name Panama was derived. Some people believe that it got its name from a tree species. Other people believe the Panama got its name from the butterflies in the rain forests. The most popular theory is that country got its name from the abundance of fish in the region. Blending all these theories today’s common man believes that Panama has abundance of fish, butterflies and trees.

Panama is one of the most diverse and wonderful countries made of oceans, volcanoes and forests. These natural habitats have still not been explored by many people but these sites are as interesting as the other places on the planet. Here you will see hundreds of species of plants and animals that you won’t see anywhere else in the world. Panama has the most exotic animal species such as the jaguar and the puma.

You can even explore the national parks in Panama. The two major parks in Panama Soberania and Bastimentos. The former is a natural park at the north of the country and the later is a marine park. Both these parks give you a good peek in the country’s natural habitat. It is best to explore these parks with a professional guide who knows the surroundings well. You will also feel safer with a guide. For example, Darien is one of the most fascinating areas in Panama but it is quite risky. Hence you will definitely need a guide to explore the area. Darien gets it name from the Darien Gap which is one spot on the pan American highway. The rainforest near the Darien Gap are totally impenetrable.

You can use the bus transport from going from one place to another in Panama. They have different colors so that they can be easily distinguished according to the area that they are going to. The major cities have larger and more comfortable buses. There are taxis as well that you can take for short distances in the city. The reason why many tourists don’t go to Panama is that it is little bit more expensive than the other Latin American countries. But the extra money that you pay will be worth it when you see this beautiful country.

The Republic of Panama has very good business friendly laws that give the confidence to people to begin their own business. Panama also welcomes foreign direct investment and foreign talent as there is a lot of scope for growth in this region. The country ranks first in the Latin American countries for foreign investment. Today it is legal for an expat to come to the country and start his business. He can employ people and make good money in Panama. Doing a new business in Panama is easier than doing it in other Latin countries.

The pace of life has become quite fast in Panama. This is because many people are doing business and hence time passes fast. According to the Doing Business website Panama ranks 81^st out of the 181 economies in the world. The country ranks eighth in doing business across the borders. The country ranks 28^th in getting credit from other countries for doing business and stand 73^rd in doing construction permits. There is a lot of paper work in construction.

Panama also does quite well foreign trade related matters and this is because of the Colon Free Zone and the Panama Canal. However not all expats who live in Panama do business in Panama. You can easily set up an offshore corporation in Panama. You can do all your banking transactions through your corporation and even buy goods from one country and sell it in a third country. The best thing about conducting an offshore business in Panama is that money earned out of Panama is not taxed in Panama.

So we see that the business opportunities in Panama are excellent. However to make it big you should be well aware of the business laws of the region that will help you to open and run the business perfectly.

You should not travel to Panama during the rainy season. This is because this region receives some of the rainfall in the world. The rainy season begins from June and it ends in November. The rainy season often has hurricanes with ghastly winds. The majority of the rains are on the Pacific side of Panama. There are many travelers who still take the risk of touring the country in this season just because the get good off seasons discount.

You can go to Panama during festival season such as Holy Week. The festival is celebrated with religious processions and you will really enjoy the festivities in their full color. If you want to another festival called Carnival then you can visit the country in February and March. During this festival it becomes a party atmosphere here such as the mardigras. You can visit Kuna Yala in February if you want to see the Independence Day celebrations. You should book your hotel room in advance for such type of occasions.

You should try not to roam around in the cities at night. Even if you have to travel at night then you should take some precautions such as not carrying your original passport. You should your valuables in security storage in your hotel and you should not carry too much cash outside. In case you get lost anywhere then you can ask for help from the tourist police who wear white bands.

Before traveling to Panama you should get all the necessary shots from your doctor such as yellow fever, malaria and typhoid. This is because most of Panama falls in the rainforest zone and hence you should not take any risk with your help. To prevent diarrhea you should drink bottled water and keep your body hydrated.

The economy of Panama is quite prospering. Contrary to a high percentage of unemployment before, the percentage today is reduced to 7% of the population. The country registered a food surplus in the year 2008. The country has experienced an economy boom with growth in the GDP at 10.4% in 2008. The economy today is the fastest growing economy in Latin America. Sources suggest that Panama will continue to be the fastest growing economy in Latin America till 2014.

However Panama is also experiencing a global financial crisis like other countries. There is some good news with the expansion project of Panama Canal after concluding a free trade agreement with the United States. This will lead to a major boost to the country’s economy as more and more ships will pass through the canal, thereby adding to the revenues. There is a big income disparity in Panama. Nearly one third of the population was categorized as poor in 2008. 14.4% of the people were said to live in extreme poverty.

A significant contributor to the economy is the service sector. The service sector mainly consists of banking, tourism, trading and commerce. Ever since USA handed over the control of the canal to Panama there are a lot of construction projects happening. The expansion plan for the canal includes building a third set of locks which was approved in 2006. The expansion project will take about 10 years to complete.

The estimated cost of building the third set of locks is around $5.25 billion. The canal is a major economic sector for the country as it directly and indirectly gives employment to thousands of people. The country gets millions of dollars as toll for using the canal. At first the United States had monopoly over the canal since they had built it. But afterwards they passed on the control to Panama Republic.

Capitalism is followed on a large scale in Panama. You can hire someone else to deal with the security issues while you invest in commercial real estate. You can also hire the services of a professional property management company who will handle all the financial transactions on your behalf. Due to the thriving economy of Panama the property prices will surely rise and that is when you can make a good profit by selling your property for a higher price. There are some good projects underway such as the Panama Metro Line and the expansion of Panama Canal.

The opportunity to make it big in Panama is right now. Panama has the fastest growing economy of all the Latin American countries. It is just the matter of recognizing the opportunity and making full use of it. Though the real estate in Panama also took a hit because of global recession, the property market recovered very fast in comparison to other countries. In fact, Panama never faced a recession as the growth rate bottomed out at 3.3 percent.

At one point of time the Europeans and Americans did not want to make down payments on the condos. People who had made investments in hedge funds had their mortgage in a second home in Panama repossessed. However today buyers are coming again to pick up deals. In some parts of the country, the prices on depressed real estate have gone up by a third in the previous year.

If you are thinking of investing or retiring in Panama then you can try your hand at buying distressed properties. These properties are distressed only in the books. They are actually in good shape and are taken up by buyers pretty quickly. In the next 3 years there will be a good appreciation for recovery of high ended properties.

Republic of Panama has a policy of free trade agreements with several countries. In case of Costa Rica about 90% of the goods can be passed without paying any duty. In the coming years the passage of all goods will become duty free. The purpose of these free trade agreements is to lower the costs and create more jobs in the country. Even Canada is negotiating with Panama to create a free trade agreement which will greatly benefit both the countries. Panama has already signed a similar agreement with USA.

The stratus of the middle class in Panama is becoming higher. This class has more disposable income than ever before. The country has seen a large influx of European and North American retirees and this leads to an increase in the property prices as well. There has not been a rise in the percentage of unemployment since a long time. Panama has started to do well since several of the large business houses in USA invested in growth funds. For the last few years, the country has received the highest amount of foreign investment per capita in any nation in Latin America.

There was a little bit of a business downturn in Panama because of the global recession. This led to the substantial correction in the property values of high end and new properties. Today Panama is an exciting country surrounded by the beautiful mountains and shore. It has become an excellent place for people to settle in and do business. Even the government is offering many incentives to people who want to settle in Panama.  Concessions are also given to foreign firms who want to invest and set up their shop in Panama. The expansion of the Panama Canal will lead to further investments.

If you are planning to go to Panama then you should not miss a Panama Canal cruise. Panama is today one of the most exotic travel destinations in the world. It has beautiful port locations with cruises that take you right through the Panama Canal from one ocean to another. The Panama Canal was constructed to reduce the travel time of trade ships to cross between the Atlantic and Pacific Oceans. Today over 13,000 vessels cross the canal every year. There are special Panama cruises as well that can take you across the Panama and show you sights around it.

There are different types of Panama cruises having different destinations and different routes. Each cruise has something special to offer. There are so many activities to do on the cruise and you can go for sight seeing tours wherever the cruise stops for the day. The cruises depart from different ports such as New York, Miami, Fort Lauderdale, New Orleans and Seattle.

The Canal’s six huge locks make for an interesting sight as they lift the ship 85 meters above the sea level and then lower the ship on the other side. The cruise covers the length of the canal thereby showing you the most outstanding sights around this engineering feat. You can even go kayaking on the Gatun Lake. You can book the Panama Canal railroad which takes you through the inner banks of the canal and the rainforests of South America. There are some exceptional beaches in Panama where you can sit back and relax. The Panama cruises are top notch and they have all the modern facilities and entertainment options onboard. The cruises last anywhere between a week and 20 days and they cover places such as Jamaica, Costa Rica and Colombia.

Today Panama has become a very busy place with lots of investment opportunities. It has become comparatively easy for people to set up a business here because of the various exemptions provided by the government. Panama was also affected a little by the worldwide business slowdown. However the GDP of the country did not ever drop below 3 percent. Even the traffic through the Panama Canal has reduced a little however the authorities are enthusiastic of expanding the Panama Canal which will eventually bring in more revenues.

The services sector has contributed significantly to the economy. The most important service sectors include tourism, banking and insurance. The middle class of Panama is having a higher disposable income as before. Because of the fall in property values in North America many people had to sell properties in Panama to cover their mortgages back home. The real estate prices in Panama also fell like in North America. Today there are a lot of underpriced properties in Panama that are waiting for investors to pick them up.

Panama is going to see a lot of progress in the future as the services sector has a lot of scope to expand. The expansion of the Panama Canal is going to being in thousands of direct and indirect jobs that are related to the canal. The expansion will lead tor increase in the global shipping patterns. The Canal has been in business since 1914. Its construction was considered the greatest engineering marvel of all time.

The canal locks were built for American warships to pass through in the beginning. Then passenger ships and cruises were also allowed to pass through after paying toll. The largest ship that can pass through the canal is called Panamamax. The expansion of the canal will lead to doubling the overall capacity.

In order to visit Panama you should apply for a specific visa. The type of visa depends on the purpose of your visit. Let us have a look at some of the visas issued for Panama when people want to settle or stay there for a long period of time. The first visa is pension visa. The visa is issued to a person whose pension does not amount to more than $500. You will need to prove the financial figures under scrutiny. Normally a pension statement from the government will be more than enough. There is a basket of many benefits for holding this visa in Panama.

Private income retiree visa is a visa for people who don’t have a monthly pension and he is no loner working. He has received a lump sum on his retirement and this money has to be deposited in a five year certificate with the Bank of Panama to yield at least $750.

Then there is the person of means visa which is a type of visa for people who want to live in the country by their own means. They have no interest in starting a new business in Panama. However the person must have a one year certificate of deposit in any local bank of at least $200,000 out of which $80,000 can be in the form of home purchase. Upon acquiring the visa that certificate of deposit has to be renewed for one year. After the visa is renewed it is granted permanently with the right to local identity card. After five years the person can apply for Panamanian nationality.

The investor visa is for those people who want to set up a business in Panama. However the person needs to make a minimum investment $150,000 and a minimum of 3 local people hired in his organization.

Panama is one of the world’s most famous landmarks since it combines two oceans through the Panama Canal. Apart from the canal there is so much to do and see in Panama. The country is still largely overlooked by tourists and they are missing out on a spectacular country. Tourism in Panama is a little bit more expensive than other countries in Central America. However the extra money that you spend is worth it. Panama has natural forests, deserted islands and engrossing seas. It is home to many animal, insect and plant species that are not found anywhere else in the world.

The first place that you should visit in Panama is Panama City. It has diverse cultures and a blend of modern and ancient buildings. You can marvel at the Spanish architecture. The Panama Canal can be seen from the west capitol of Panama City. The other place that you should not miss in Panama is the popular Archipelago islands called San Blas and Bocas del Toro. These islands are located on the Caribbean side while on the Pacific side you can visit the marvelous Pearl Islands. The Pearl Islands were featured in the popular TV show, US Survivor Series. Many of the islands still have the oldest tribes living in them such as the Kuna Indians. They have become renowned world over because of their artistic talent.

You can take a ship package on either side of the coast and marvel at the beautiful locales that Panama has to offer. There are hundreds of biodiversity and ecological inlets and islands that have remained untouched. Some other explorations that you can pay a visit to include the Boguete in Chiriqui Province. This province features unusual sites such as dormant volcanoes, splendid waterfalls and lush vegetation.

Tourism in Panama has experienced a significant growth since the last 5 years. This is because of the efforts made by the government to attract more and more people. The government started giving tax rebates and discounts to foreign guests. There were good economic incentives introduced so that people can peacefully retire in this region. Even the real estate developers are having a good time as there are many people who are buying apartments in Panama. The number of tourists who arrived in Panama in the first nine months of 2008 was around 1,110,000. This was an increase of 13.1% over the previous year in the same period.

European tourists accounted for 23% of the total tourists in 2008. In terms of numbers, it was around 71,000 tourists. This was an increase of 13,300 tourists from the previous year. The maximum number of European tourists consisted of Spanish followed by Italians, French and the British. About 7,000 tourists arrived from Germany.  In 2007, revenues from tourism in Panama accounted to 1.4 million. This was about 9.5% of the GDP and it surpassed all productive sectors.

It is Panama’s law number 9 that is important for the promotion of tourism investment in Latin America. The Special Tourism Zone offers many tourism incentives such as exemptions from real estate tax, income tax, import duties for construction equipment and material and other types of taxes. There are many parts of Panama that have been declared as Special Tourism Zones. These zones give benefits to tourists such as tax holidays and tax exemptions.

Panama is also getting good revenues because of the Panama Canal. There are many cruise ships passing through Panama Canal and many people take Panama Canal packages which range from 2 days to 5 days.

Panama today ranks 81 from the 181 countries for the ease of setting up a corporation. Panama today ranks 8^th for engaging in any corporation across borders. The country is ranked 28^th in obtaining a credit score for undertaking any enterprise. Panama stands at the 11^th position in the western hemisphere for undertaking enterprise.

The Republic of Panama is in the midst of an economy boom. Ever since the US handed over the control of the Panama Canal the financial commitment of the region has increased. Today the country has the highest per capita international choice in Latin America. Panama is seen as a good place for investing in a business or property. The community law safeguards the interests of the international buyers.

Panama’s banks assure privacy to their members and also safeguard their assets. Today people who have set up companies in Panama have an excellent asset protection. Panama has excellent asset protection laws. Funding in Panama will surely get you good returns in the future. The real estate investments in Panama will increase over a period of time.

The real estate investment opportunities in Panama are excellent and even the government has done everything it can to encourage real estate investment. There are business vehicles in Panama that you will not find in other countries such as Canada, Europe and USA. Even the prices of real estate in Panama are relatively affordable than other countries. It is profitable to invest in Panama Corporations and Panama Foundations to reduce the tax burden. Both these institutions are anonymous. An investor can create a wealth free of taxes by having a Panama Foundation.

Even if you want to sell a property that you own through a corporation then you can simply sell it to the corporation and eliminate the payment of transfer taxes.

The Panama private interest foundation has a number of important people at different levels. Let us have a look at the cast of characters in the Panama private interest foundation.

The foundation begins with a founder. This could be you or the person who files your papers with the public registry in order to register the foundation. It is the law firm who will register the foundation for you.

Then we have the Panama foundation council. Each foundation has a council and every member is recorded in the public registry. The council of members may or may not know the identity of the beneficiary. Every council member will give you a letter of resignation if he wants to resign. The council of members will not have any banking privileges and they have no control over the assets.

The Panama foundation protector is appointed by the council. The protector’s identity can be hidden from the public records. The protector controls the foundation after he is anonymously appointed by the council. The protector may then change the council. He writes a private set of instructions which are not mentioned in the public registry. The instructions define the objectives of the foundation.

There are no beneficiaries in a Panama foundation. This is because no one is said to own the foundation. It is actually a legal entity that operates so that the beneficiaries benefit. The beneficiary could be any entity including the protector. For example, you can appoint yourself as the beneficiary and protector at the same time. Each foundation should have a registered agent. This could be a single attorney or a law firm that to take charge of the legal proceedings and matters of the foundation.

One of the best ways to protect your assets in Panama is a private interest foundation. This is an institution that effectively holds and protects the entity of the assets. You need to get an overview of how the entity works and how you can set up one. You should consult a professional for all legal matters to maintain a Panama Foundation. It is better to deal with a person who understands your requirements and your language. Make sure that you understand each and every step of the process.

The cost of the private interest foundation is about $300 annually which has to be given to the government. The minimum capital investment required is $10,000 and the attorney cost set up is less than $2,000. These are just the typical costs involved. Part of this payment goes to the government and part to the attorney. In case you feel that the prices quoted to you are high then don’t be afraid to go on the internet and do the comparisons.

You can make use of the Panama foundation as a holding entity for your assets. However overseas assets are not taxed in Panama. The tax relates to those matters where the foundation owns a business in Panama. In such a case the foundation will not be taxed but the business will be taxed. The foundation will receive post tax dollars from business. You can consider joining a foundation with an offshore corporation which could be in Panama or elsewhere.

The foundation can hold assets anywhere in the world. This could includereal estate, companies, personal assets, royalty rights, bonds, stocks and bank accounts.  The assets can be frozen only in case the foundation does something illegal. The foundation should be ideally used as a holding company. the foundation cannot do any commercial activities in Panama.

Panama is influenced by the Europeans. You can see the European influence in the art, music and tradition that were brought by the Spanish when they invaded Panama. However the European culture has seen a mix of Native American and African cultures as well. Take the example of Spanish dance called tamborito that was combined with the rhythms of Native America. Dance is enjoyed widely in Panama and it is often performed in various festivals, traditions and dances. Music preferred consists of reggae, jazz, salsa, rock and jerk.

There are regional festivals that take place outside Panama City. These performances are done by dancers and musicians. The traditional products consist of ceremonial masks, pottery and wood carvings. In the past there were baskets that were woven by hand and utilized for day to day chores. Today they are produced from a commercial point of view to sell to the tourists.

The Kula Indians make mola which refers to a woman’s blouse. The blouse has embroidery on the front and the back. The molas consist of a unique work of art which is made by the women from the Central American tribe. The blouse has several layers of cloth stitched together. Every year the Christmas Parade is celebrated in Panama City. The festival is celebrated on Christmas Day. The people decorate themselves with Panamanians colors and the women wear a dress called Pollera. Men wear a dress called Montuno. For several days there is a marching band of drummers who walk through the streets and sing Christmas carols.

The traditional dish made during Christmas consists of chicken tamales, pernil, relleno and pavo. There are bowls of fruit dishes placed along side the main dishes. For drinks there is a traditional drink served and it is called Ron Ponche. The drink is made by mixing two cans of condensed milk with six eggs, three cans of evaporated milk and half a bottle of rum. Nutmeg is added for extra taste.

Panama Republic has a tropical climate. Temperatures are normally high throughout the year and there is quite a lot of humidity because of proximity to the oceans and the rivers. There is not much variation in case of seasons. Even the diurnal ranges are low and the temperature in the morning is 24 degrees Celsius but it increases in the afternoon to about 30 degrees Celsius. The temperature does not rise beyond 32 degrees Celcius. The temperatures on the Caribbean side are higher than Pacific Side.

There is a good breeze all over the country during the evenings. The temperatures become cooler in the mountainous regions. The rainfall ranges form a minimum of 1,300 millimeters and a maximum of 3,000 millimeters. The rains normally fall during the monsoon season which is between April and December.

Again the rainfall is heavier on the Caribbean side than the Pacific side. The average rainfall in the country is half as that of the Colon. There are quite a lot of thunderstorms that build up over the ocean and the lakes. However the country is located outside the major hurricane belt. The tropical climate supports the growth of a lot of plants. No wonder, the region has a lot of jungles. The forests are interrupted in places by crops, scrub and grasslands. Nearly 40% of Panama is covered by jungles but the recent deforestation process is a major threat to the jungles. Since 1940 the tree cover has been reduced by more than 40%.

There is subsistence framing carried out in the northeastern jungles. Agriculture consists of growing bean, tuber and corn. There are long mangrove swamps on both sides of the coast. There are many banana plantations near the Costa Rican Delta. Many villages leave along the deltas of rivers.

The Panama Republic waterways consist of more than 500 small and big rivers that run through the region’s rugged landscape. With their current they form the coastal deltas. Big rivers such as Rio Chagres are an important source of hydroelectricity. This river is located in the central region of Panama and the Gatun Dam is built over the river to harness the power of its waters.

The Gatun Lake is an artificial lake that is a significant part of the Panama Canal. The lake took 6 years to build between 1907 and 1913. At that time Gatun Lake was the largest man made lake in the world. Even the dam was the largest built at that time. The other big lakes are the Madeen and the Kampia Lakes that are filled with water from the Rio Chagres. These lakes provide electricity to the whole region of Canal Zone.

Another major river called Rio Chepo is one of the 300 smaller rivers. It is also a major source of hydroelectricity. These rivers are longer and they comparatively flow slowly than the rivers on the Caribbean side. One of the most extensive basins is Rio Tuira which flows into the Golfo de San Miguel. This is the only large river that can be navigated by large vessels.

The Panama Republic coastline is dotted by big and small harbors. The port facilities were handled by only Cristobal till the late 1980s. There are several islands off the coast of Archipiélago de Bocas del Toro. These islands are in close proximity to the beaches of Costa Rica. At present the most important ports at each end of the Panama Canal are Port of Balboa and Port of Cristobal. They are the ports that handle one of the highest number of sea vessels in the world.

Panama is the southernmost country of Central America. It lies between the Pacific Ocean and the Caribbean Sea. In terms of countries, it is bordered by Colombia and Costa Rica. There are some people who consider the land on the east side as a part of South America but this is not true. From the year 2000, the Panama Republic started to control the Panama Canal. This Canal connects the Atlantic Ocean to the Pacific Ocean and hence saves the long journey of going around South America. In terms of size, Panama is almost the size of South Carolina.

There are lots of mountains running through the breadth of the country. These mountains form the continental divide. This divide is not a part of the mountains of North America. They end near the Colombian border. The spine of the mountains is highly eroded due to the effects of nature over thousands of years. The divide of the mountain range is called [sidebar item1="wiki|Cordillera de Talamanca"]Cordillera de Talamanca[/sidebar]. The mountain range between the Panama Canal and Costa Rica is called Cordillera Central.

The highest point of Panama republic is called Vocan Baru. This mountain rises at a height of 3,475 metres. There is a deep jungle lying in the Darian Gap that lies between Panama and Colombia. This is a dangerous stretch as this is where the drug cartels from Colombia operate from. They even take hostages and kill many people. These drug cartels produce cocaine in labs that are situated deep into the jungle. From here the cocaine is transported by illegal means to North America where there are millions of buyers for this drug. However the wildlife in these jungles is one of the most diverse in the world. It is home to many species that are only found in South America and North America.

Spring break is the best time to enjoy for young people in Panama. The beaches of Panama are known as the spring break capital of the world. There are about half a million people who travel to Panama from all over the world for the spring break. Visitors love the beach’s white sand and crystal clear, green water. The beach becomes a destination for exciting activities such as restaurants, pubs, thrilling water rides and late night parties.

You can begin your day buy going to the beach and going for a swim. Or you can simply relax and take a sun bath while lying on the sand. You can also take part in water activities such as parasailing, jet skiing and snorkeling. If you are not a water sports person then you can play games like volleyball and soccer.

You might get hungry after spending a long morning on the beach. You can simply head to one of the many restaurants along the beach. From swanky restaurants that serve full fledged meals to small eateries that provide quick bites, you have a lot of choice. Most of the restaurants serve amazing sea food, sushi and barbeque.

There are discount cards available which entitle you to good discounts in restaurants, beer parties and shopping. Do make the most of these discount cards. If you use this card regularly then you can make significant savings during the week. You should be at least 21 years of age to buy and consume alcoholic drinks.

Panama beach locations also have excellent accommodation options from budget accommodations to luxury accommodations. The hotels should ideally be booked in advance if you are sure of your dates of travel and you are going during season time. You can simply pay online to make a reservation.

If you are traveling to Panama then you should not miss a tourist attraction called the Colon Free Zone. This is a zone on the Atlantic side of the isthumus and it consists of shopping centers and showrooms that are spread over an area of 400 hectares. The Colon Free Zone is just a two hours drive from the airport and you can take a bus or a taxi for reaching the place. There are many transportation companies who charge a flat fee to take you to CFZ.

There are no taxis and other transportation allowed in the CFZ. The climate inside the area is cool and consistent and hence you don’t feel tired walking from one place to another inside the zone. There are quite a numbers of hotels near the CFZ in case you want to spend 2 to 3 days in the zone. The New Washington Hotel is a good staying option. It has beautiful landscaped gardens and swimming pool. The Radisson is another great option to stay.

In order to enter the zone you will need a valid passport. Though most of the shops inside accept credit cards you should keep some cash in hand. This is because there are lots of street vendors inside who sell food, shoes, sunglasses and other small items. These people don’t accept credit cards and they accept only cash.

If you are planning a trip to Panama then you should definitely include Colon in your itinerary. You can pick up a lot of things for yourself and for your loved ones back home. Most of the shops in CFZ have excellent deals that you won’t be able to resist. At night you can enjoy the great food served at restaurants and also enjoy the casinos. The nightlife in CFZ is worth a mention.

Today the beach homes along Panama are less expensive than the homes that find in the interiors of the country. No wonder there is a lot of demand for these beach properties from old couples as well as the younger generation. The Panama beach homes range from the old style apartments to the latest condos that even have a concierge service. You should however consider a few points before you think of buying a beach home in Panama.

First of all you need to consider the size of your home. It depends on the number of people who are going to stay and for what purpose you are going to buy a home. For example, if there are 5 members in your family and you are going to use it as a vacation home then you might need to consider a larger size with at least 3 bedrooms. This is because you might also invite friends and relatives to stay at the house.

There are also condos along the beach and they have resort styled facilities. Most of them have an average price of $300,000. These condos are perfect for retiring couples and couples without children.

The other thing you should consider is a floor plan. Here you need to consider whether you want a single floor house or you want to add up more floors. In case you will be hosting parties then you should ideally have an area with open floor.

You can even think of buying foreclosed homes as they will be cheaper. However you need to consider if this is the right option for you. You need to take a realistic look at how much money you need to put in for buying the foreclosed home. Buying a beach home in Panama is surely an investment as the prices will appreciate in the future.

If you are still interested in some of the third world surprises then you can head to Panama Republic. Though Panama City is modern and up to date, it has several mountainous regions around it. There are quite a few villages in the midst of hills where some American tribes still thrive in abundance.

You can go for the tribal tours to get a third world experience however it is better that you take a local guide with you. There are several indigenous Indian tribal groups that still live in the jungles. They live in small houses with thatched roofs. They regard civilization to be impinging in their way of life. They still hunt for their food. By visiting them you will get a good experience of tribal life in the jungles of Panama. You can learn about their cooking and cultural activities that they do to entertain themselves such as music and dancing. Since they are isolated from the rest of the world they roam around river in a dug out canoe.

You can also go to a group of islands called San Blas. Here you will find an unusual community of farmers and fishermen. They are known as the Kuna and they have been given an independent status by the Panama government. The Kuna people wear extremely colorful dresses and they also decorate their skins. They sell cloths called molas to the guests.

They lead a simple life and speak a distinct language. By staying with them for a day you will be able to get acquainted with their lifestyle. The surroundings are natural and silent and you will feel disconnected with the outside world. However the experience is one of a lifetime and you will go back home with sweet memories. If you want to click their photos then it is better that you offer them little money.

Panama is one of the most exiting beach countries between North America and South Americas.. Every year about 1 million people from all parts of the world come to vacation in Panama. Many people from these are looking for ways to save some money while on their vacation to Panama. Let us have a look at some of the ways to save money in Panama.

You can save quite a few dollars when you take taxis for transportation in Panama. Taxis are available by the dozen in the city. They don’t have meter and hence you will need to negotiate with the drivers before you hitch a ride. The city has many restaurants serving the best of local and international cuisines.

You can save dollars here as well by eating at small restaurants. Even the street side food in Panama is quite safe and tasty. You can grab a roasted chicken and watermelon juice for less than a dollar at these establishments. It is best to ask the local people where you can get cheaper yet delicious food instead of referring to the guide books.

Panama has a good public transportation system. Apart from the taxis mentioned above you can go for options such as AC buses that leave from the city to go to any province in Panama. The ticket will cost you just a few dollars and this option is better than hiring a car. As for hotels, there are several cheap hotels with rooms having basic facilities. Renting a room in a motel is another cheap accommodation option. You can go for cheaper staying options in case you are going to be out of your room, touring the city and you will come back to your room only to sleep at night. Areas such as Azuero Peninsula and Santigio are where everything is cheap.

Panama is known for its crystal clear beaches with golden sand. There are many people from Panama and other places who want to retire here. This is because Panama is a safe land and the government gives a lot of retirement benefits. One of the best accommodation options to retire in Panama is a property along the beach. Panama beach real estate is doing great business and there are a whole bunch of apartments and condos up for grabs.

Many people have invested in these properties as they know that the prices of the properties will appreciate in the future. This increase is mainly due to economic factors such as expansion of the Panama Canal.

Panama beach estate market is a diversified market with retirement homes, second homes, condos, vacation homes and other development sites. There are many people who buy a permanent vacation home here. The beaches are totally safe and secure and hence there are thousands of people who have bought properties here.

If you want to buy a good property in Panama near the beach then you should catch hold of a good real estate agent. You can also see the listings printed in the Panama Residential Board. This way you don’t waste your time in seeing properties that don’t meet your requirements.
People just love places that are close to the beach. The retiring couples find this a perfect setting to spend their later years as the place is secure and serene. They can sit in their balcony marveling at the beautiful view and even go for long walks in the early morning or evening.

The young couples also like to buy homes here and then settle down with their new families. Youngsters love to go for water rides such as parasailing, water skiing and sailing. There are several real estate projects under construction along this stretch and there are many more to come.

Panama has some of the best restaurants in the world that cater to the tastes of the local and the international travelers. Let us have a look at the top 5 restaurants in Panama. The first restaurant is Lima Limon which opened towards the end of 2009. The menu is well executed and it includes the best of Peruvian dishes. Some of the delicacies that you can savor in these restaurants include tacu tacu, chupe de camarones, ceviches and causas. The atmosphere is quite modern and cosmopolitan and for drinks you can go for the amazing variety of martinis.

The other Panama restaurant is Matsuei Sushi. This is perfect for sushi livers and the ambiance is like an old fashioned sushi house. You can have your beer and sushi on the outdoor terrace. For $21 per head you can have unlimited amount of sushi. However the restaurant has a rule that anything wasted in your plate will be charged extra.
If you want to try Spanish food then we have La Rioja. This is a Spanish Tapas bar which serves morsels and the other items that you can try on the Tapas menu include Bravas, meatballs and tortilla espanola.

Costa Azul is a restaurant in Panama that you should not miss. It is open 24 hours a day and it has a varied menu of sandwiches, seafood and local Panamian dishes. At night you should have the restaurant’s specialty which is Cuban Sandwich. In case you are looking for a heavy meal then you should try the Creole Shrimp.

Last but not the least is Athens Pizza. Here you will an unusual combination of Greek Pizzas. You can also try the Greek salad and Ladopsomo which is a Greek yogurt.

The city of Panama is also known as the gateway between South and Central America. It is known as a beach destination and today it has also become an international business center. This is because of the Panama Canal that has lessened the time significantly by cutting through the heart of North and South America. Panama has today become a leading business center for trading, banking and tourism. The city is a melting pot of cultures as people from different parts of America come here to settle down or have a grand vacation.

Panama is presently experiencing a real estate boom since the past few years. The condos along the beach front and the main city are being snapped up by the dozen as they are a perfect staying option for newly married and retiring couples. The condo property prices are on a rise day in and day out.

The other reason why people find it worth investing in condos is because of the expansion of the Panama Canal. The expansion project will be completed in ten years and property prices will see an all time high here. This is best time to invest early in a Panama City condo before the prices rise significantly.

The condos are quite secure and they have all the modern facilities and amenities that you normally expect in a house. They have the beautiful beach lined with palm trees all around. There are a variety of outdoor activities that you can take part in. The city has lots of water sports and mountain activities such as trekking and rock climbing. The job opportunities because of the growing trade are also far superior than other cities. [sidebar item1="wiki|Parque_Municipal_Summit"]The Summit Botanical Zoo and Park[/sidebar] is a favorite for the children. The zoo is home to rare species such as harpy eagle and jaguar.

Panama City has seen both sides of good and bad. If you have done some research about the market then you might have read about the tales, scams and frauds of buyers getting hoodwinked. Though the Panama real estate has great potential it is still emerging that is experiencing the pains of growing. It is necessary that you, as a buyer is educated about the current market scenario so that you can make fruitful decisions about investing in Panama real estate market.

First of all you need to acquaint yourself with the important components included in buying property. These components include title, rights of possession and concession. Titled property is just like any other property in the world. In this case the seller has the title to his property and he can transfer it through sale to the buyer. A property under Rights of Possession is held by the Republic of Panama. The rights of this property can be transferred via a sale to the buyer, however the government will still be the official owner of the property.

Concession rights refer to rights to use the property for a specific period of time. Certain amount of fees is taken for the same. Whether it is good or bad to use such property depends on how secure you feel in the property and for what purpose you are going to use it. For example, if your purpose is to build a surf camp on the beach with a capital outlay then such type of property is a good option without the high priced tag attached to it. In case you are looking forward to build a full fledged resort then you are better paying a higher price and getting the title of that property in your name.

Panama has been a city with significant interest in USA for youngsters as well as retiring couples. It is a safe city and there are lots of job opportunities and entertainment options. The cost of living is quite affordable when compared to other American cities. For the first time there is a battle amongst the foreigners to invest in Panama real estate as they have understood the true potential of the property market here.

Most of the property buyers are British and other parts of Europe. These buyers have an advantage when buying property as the euro is weaker than the dollar. Real estate is more affordable in Panama than in most of the other cities in America. It is not only affordability of real estate that is attracting buyers.

There are other factors as well such as the expansion of the Panama Canal that serves as a direct corridor from the Pacific Ocean to the Atlantic Ocean. When the canal’s expansion will be done in ten years, the toll collected will also double and all this money will be pumped in Panama’ ever growing economy. Demand for property will rise in those times and anyone who buys property now will stand to benefit significantly after ten years.

As of now the supply is more than demand. So you can really think of investing in property here. The scenario is surely going to change in the next five years when demand will become equally to supply and it will eventually it will become more than supply. There are 11,000 units slated to be completed in the city in the next 4 years. These units include apartments and condos for young and retiring couples. This is the best time to join the party of the gold rush in Panama City.

Panama real estate is one of the best in the world and it consists of mountains, beaches, islands and national parks along the Pacific Ocean. Properties along the Panamas Coast are reasonably priced and hence there are excellent investment opportunities for locals as well as foreigners. Panama City is not only a favorite holiday destination for people but it is also a city where many retiring couples settle down to spend the rest of their lives.

Panama has excellent retiring incentives for old couples. It has a relatively low cost of living as well as low crime rate and various tax advantages. Panama has incentives even for the overseas investors such as Free Trade Zone, US dollar based economy and global banking facilities. Acquiring properties in Panama is quite easy. Most of the houses have titles and an insurance policy. There are excellent foreigner protection laws so that the foreign investors are not duped.

The real estate property market in Panama is quite stable. As a result there are many global corporations who are investing in development projects here. There are also about 150 global banks that have set up their offices here. These include banks such as HSBC, Citibank and Lloyds Bank.

Today Panama City can be regarded as a modern day metropolis. There are several high rise buildings with apartments having stunning views of the oceans. There are exclusive housing projects and many condo assortments as well. There are many properties in the suburban cities as well.

There are beautiful properties for sale outside Panama City as well. The climate is quite cool in these areas and the ambiance is very peaceful. The real estate option in the highlands of Panama is also a good choice. Panama is an excellent city to consider for retirement planning.

If you are thinking of retiring to a tropical destination in America then there is no better place than Panama City. Apart from providing excellent amenities to retiring couples Panama City is also a world class destination for eco tourism and adventure. Panama City has many attractions right from the white sand beaches, rainforests, national parks and Hispanic colonial ruins.

The retirees in Panama can enjoy the benefits of the city’s thriving economy. They can have a haircut for just $5 and they can take a taxi across town for just $4. A dinner for 2 with a bottle of wine will cost just $20. There are so many activities to do in Panama after retirement. These activities ensure that you don’t live a lonely life and you can enjoy even in your retirement years.

The condos in Panama City are a perfect place for a retired couple. They are reasonably priced and many of them are on the beach front. The city has one of the best incentives programs for foreigners. For example, the pensionado program introduced by the government gives a lot of benefits to the foreigners. Some of these benefits include 50% off on entertainment shows, 15% off on hospital bills, 20% off on medical consultations, 15% off on dental treatment and 20% off on professional fees.

The program also introduces a one time exemption on the purchase of goods up to $10,000. The person also enjoys an additional exemption form import duties to be incurred on purchase of a local car for transportation. The local authorities have also set up a foreign investment program where the new properties have 20 years of exoneration period. During this period the investors are exempted from paying any type of taxes related to real estate.

[sidebar item1="wiki|Boquete,_Chiriqu%C3%AD"]Boquete, Chiriquí[/sidebar] is a very upmarket destination in Panama. It is full of 5 star hotels, resorts and spas catering to local and international travelers. Let us have a look at some of the top hotels in this area.

The Boquete Garden Inn is one of its kind hotel having 2 story cabanas built across a beautiful riverside property. The hotel has its own restaurant serving delicious breakfast, lunch and dinner. At night you can chill out at the bar near the riverside. The rooms are spacious and complete with all modern amenities and facilities.

Hostal Mamallena is not an expensive hotel but it is very good nevertheless. This hotel is quite close to the central park. The hotel hosts late night parties 2 or 3 times a week. The staff is welcoming and knowledgeable. There are many people who come to this location planning to stay for a day or two but they end up living for many days.

The Panamonte Inn and Spa is yet another hotel known for its classic, English interiors and life sized beds in the rooms. The hotel was built in the early 1900’s and hence it has a traditional décor. It has played host to many celebrities and socialites. The spa is an added attraction where you feel totally rejuvenated. This hotel has several suites overlooking the beautiful, landscaped gardens. The restaurant serves excellent dishes served by an internationally renowned gourmet chef.

The Finca Lerida Hotel is a unique hotel set amidst the coffee plantations in the mountains. The view from the hotel rooms is excellent and you can admire the views from the restaurant as well. In the evenings you can relax on the private terrace and marvel at the way the locals harvest the coffee beans. You can even take guided coffee plantation tours which gives you an insight in the coffee making process.

Though Panama is a great city for activities during the day such as water sports, the real fun begins at night. The city offers a wide array of activities during the night and the city plays a perfect host for its guests. For example, you can hop in on one of the party boats which take you in the middle of the sea. These boat parties are complete with dinner, dancing and drinks. There are fabulous theater performances in the city along with live art bars. There are several restaurants and bars that cater to the local and international cuisines.

Panama has quite a few theatres where you can catch up on movies. There is a stadium seating movie theater with leather seats that can be reclined almost horizontal. You can call a waiter from your seat by simply pushing a button and ask him to bring you food and drinks while you watch your favorite movie. There is a whole variety of beverages to choose from right from cocktails to imported beers and coffees.

If you would like to go bowling then you can head to Extreme Planet. This complex has a V.I.P experience theatre and several restaurants. If you are an art person them you should definitely head to La Musa de Chai. This place has several activities such as painting exhibits by local artists and photography. The menu here consists of Puerto-Rican dishes.

If you like theater then you can go to Theatre Guild of Ancon. This is the only English speaking theater in Panama with shows such as modern adaptation of Charles Dickens. Donations are accepted at $10 per show and it is really worth it. So we see that there is no shortage of options when it comes to spending an enjoyable night life in Panama City.

The most common question for many retirees in the United States is where to live during their retirement years. Once the couple is all set to retire and have earned enough they want a peaceful place to spend the rest of their life. There are many determining factors to consider for a relocation destination for reducing stress and maximizing savings. You also need to do a proper assessment of your savings security as well as personal and healthcare needs. In the end the couple wants its life to go on smoothly.

Today Panama City continues to be on the top of the list for retiring couples and this is for a good reason. The first reason is affordability of lifestyle. It does not matter which type of lifestyle you choose, it will be relatively less expensive than anywhere else in the United States. Commodities such as fresh fruits, vegetables, fuel and even taxi transportation charges are quite reasonable. You can easily live comfortably for $1,200 per month.

The place is easily accessible by all modes of transport. It is an easy country to navigate without or with the car. People are normally quite helpful and social. Taxis are easily available to take you to anywhere in the city. Panama City is just around 8 to 10 hours airplane ride from all the major cities in the US. The city is quite social in nature. There are many festivities taking place throughout the year. People love to get together and socialize in their everyday life.

The crime rate is also very low in Panama and this is good news for retiring couples who are always looking for a secure place to live in. plus there are so many activities to do in Panama. You can take Panama Canal excursion or take part in a world class jazz festival. You can attend music concerts as well.