making money in panama

Making money in Panama

Bywww.Panama-Repossessed-Properties.com

There is a prosperous little country down on the isthmus that connects the

Americas.

Byhttp://panama-repossessed-properties.com/making-money-in-panama

It has an economic growth rate that equals China’s.

It has a big expat population and not all of them are retirees.

And, some of the retirees in Panama still work, or at least invest.

There are many investment opportunities in the land that connects North and South America as

well as the Atlantic and Pacific Oceans.

Here are a few thoughts about making money in Panama.

Panama Investment Opportunitiesfor Expatriates

Panama has laws that attract foreign investment and foreign

talent to a tropical paradise with first world infrastructure.

It is business friendly.

For Latin American Investments, Panama ranks first in Latin

America in foreign investment per capita.

Panama is taking advantage of the previously undeveloped parts of

the Panama Canal Zone.

It is promoting assembly and export facilities and is upgrading its ports and container shipping

infrastructure.

The “third lane” Panama Canal expansion is will be done in a

couple of years.

This will allow the world’s biggest ships to pass from ocean to ocean

and avoid the costly trip around the tip of South America.

Expect to see Panama Canal traffic increase and Panama

prosperity with it.

As the business climate in Panama prospers so do

entrepreneurs in the nation.

A number of online English publications are run by expats and

the owner and

the editor of the most prominent English language newspaper in Panama City are both long term

expats.

It is perfectly legal to own and run a business in Panama if you are

an expat from virtually anywhere.

Doing Business in Panama

It is perfectly legal for a foreigner to come to Panama, employ

people, open a business, and make money.

He or she can make things or provide services, and prosper. It

can also be problematic to do business in a foreign location.

However, as we said, Panama is business friendly and has few

restrictions on doing business in the country.

Certainly, doing business in Panama is a lot easier for a Latino

expat from Caracas, Bogotá, or Barcelona

than an English speaker from Chicago or Saint Louis but

because English is commonly spoken in Panama all things are

possible.

Businesses can do well in Panama but remember that the pace of life, and business, are different in this

climate.

A Venezuelan fleeing life under Hugo Chavez,

an entrepreneur from San Jose, Costa Rica,

or a businessman from Bogota may well have better intuition into

doing business in Panama City than even the son of a Cuban

refugee

who was raised to do business in the Cuban community of Miami.

Take a look at the Doing Business website.

On this World Bank sponsored web site relating to worldwide

business Panama ranks 81st out of 181 economies ranked.

Panama is eighth in doing business across borders and

twenty-eighth in getting credit for doing business.

Within the Western Hemisphere Panama ranks 11th overall out of 31 countries. Panama ranks 73 in

dealing with construction permits.

This can mean a lot of paperwork and waiting to get a project going,

make changes, and deal with paperwork in general.

Because of the Panama Canal and the Colon Free Zone Panama does

especially well in foreign trade related matters.

In other areas a foreigner will probably want a Panamanian

partner to help run the business.

So, if doing business in Panama could be a chore what are the options for making money in

Panama?

Doing Business Offshore from Panama but Living in Panama

Not everyone living in Panama does business in Panama.

It is perfectly legal in Panama to set up an offshore corporation, do

banking through a corporation, buy goods in Asia, and have them

delivered to Europe.

Having an offshore entity in Panama means that money earned

outside of Panama is not taxed in Panama.

Because of asset protection vehicles, such as a Panama

Private Interest Foundation,

foreigners can own an offshore corporation headquartered in

Belize through a Panama foundation and bank in Belize.

Visit us at www.RobertGirga.com for insight into making money in

Panama.

Investing in Panama Business and Real Estate

Panama is all about capitalism.

It is perfectly OK to let someone else deal with workman comp

issues and social security

while you purchase commercial real estate and

have a professional property management company collect

rents and handle all details.

When the thriving economy in Panama drives the price of your commercial real estate to higher

levels

you can sell and reinvest in a new, promising location like

the growing economy and currency of Colombia.

The new Panama Metro Line 1 is due to start operation in a year or

Anyone interested in commercial real estate investment would do

well to consult

the map provided by the Metro Authority.

Think of metro stops as business centers and contact us at

www.RobertGirga.com

for a hint as to where to look for commercial locations.

Invest in Panama and Invest in Growth

Panama offers great investment opportunity to those who pay

attention.

Recognize it and catch it in time and you may do very well.

Miss out and complain forever.

While the world languished in the worst recession in three quarters

of a century Panama’s growth rate fell to 3%.

But, even in a growing economy there are business failures.

Consider investing in distressed properties.

These repossessed properties are often brand new and are only

distressed in the financial sense.

Couple this idea with a trip out along the metro line and you have

a business plan in the works.

Protect Assets in Panama

If you are interested in making money in Panama you may also be

interested in protecting your assets here.

Consider a Panama Private Interest Foundation

To a degree Panama is a tax haven, to the extent that if you live

in Panama but make money elsewhere that money is not taxed

in Panama.

There are a number of ways of making money in Panama and

while in Panama.

Pay attention to Panama’s economy, the housing and real

estate market, and other investment opportunities.

Think about investing in property and letting some else meet the

public and meet payroll.

For more information about making money in Panama contact

us at www.RobertGirga.com.

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