November 10, 2009

Real Estate in Panama, October 2009.

     Panama is a great place to live. It’s listed as one of the best countries in Latin America for American retirees. Among the incentives are: Foreigners, who buy new homes or apartments in Panama, are exempted from land tax payment for a period of 20 years; the exemption from income tax for abroad profits; and discounts for all services to retirees.
     Panama has private hospitals with sophisticated technology and also a Public Health System. There are also pharmacies with a wide range of medications available. One benefit is that some drugs doesn't need prescriptions, as in United States. Only those that are required to.
     It has the largest banking system in Latin America. Panama's currency is the Balboa, but the dollar is the legal tender paper money in the country. The relation of the dollar is 1:1 to Balboa.
     In Panama all the places are very close. There are shopping centers strategic located with all types of needed services. As a country with a free zone, items such as clothing and electronic appliances are cheaper than other countries. The distances from the city are very short. If you want to go to the beach, it only takes 1 hour to go to the closer one.
     Panama's climate is tropical. There are two seasons: a dry season and a rainy season. It isn’t a country with the presence of atmospheric phenomena such as hurricanes or tornadoes, and even less of earthquakes. That’s one of the reasons that Americans built the Panama Canal in this country.

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