profiting in panama
Post on 20-May-2015
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Down on the isthmus that connects the Americas there is a prosperous little country with an economic growth rate
that equals China’s.
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It has a big expat population and not all of them are
retirees.
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And, some of the retirees in Panama still work, or at least
invest.
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There are lots of opportunities in the land that connects North and South America as well as
the Atlantic and Pacific Oceans.
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Here are a few thoughts about profiting in Panama.
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Expatriate Talent - Panama Investment Opportunities
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Panama is business friendly.
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It has laws that attract foreign investment and foreign talent to a tropical paradise with first
world infrastructure.
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Panama ranks number one in Latin America in foreign investment per capita.
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The country is taking advantage of the previously
undeveloped parts of the Panama Canal Zone.
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. It is promoting assembly and export facilities and is
upgrading its ports and container shipping
infrastructure.
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The “third lane” Panama Canal expansion is will be done in a couple of years.
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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.
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Expect to see Panama Canal traffic increase and Panama
prosperity with it.
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As the business climate in Panama prospers so do
entrepreneurs in the nation.
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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.
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It is perfectly legal to own and run a business in Panama if
you are an expat from virtually anywhere.
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Engaging in Business in Panama
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It is perfectly legal for an expat to come to Panama,
employ people, open a business, make money, make
things or provide services, and prosper.
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It can also be problematic to do business in a foreign
location.
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However, as we said, Panama is business friendly and has
few restrictions on doing business in the country.
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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
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but because English is commonly spoken in Panama
all things are possible.
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Businesses can do well in Panama but remember that
the pace of life, and business, are different in this climate.
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A Venezuelan fleeing life under Hugo Chavez, an
entrepreneur from San Jose, Costa Rica, or a businessman
from Bogota
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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.
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Take a look at the Doing Business website.
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On this World Bank sponsored web site relating to worldwide business Panama ranks 81st
out of 181 economies ranked.
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Panama is eighth in doing business across borders and twenty-eighth in getting credit
for doing business.
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Within the Western Hemisphere Panama ranks
11th overall out of 31 countries.
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Panama ranks 73 in dealing with construction permits.
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This can mean a lot of paperwork and waiting to get
a project going, make changes, and deal with paperwork in general.
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Because of the Panama Canal and the Colon Free Zone
Panama does especially well in foreign trade related
matters.
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In other areas a foreigner will probably want a Panamanian
partner to help run the business.
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So, if doing business in Panama could be a chore what are the options for
profiting in Panama?
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Engaging in Business Offshore from Panama
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Not everyone living in Panama does business in
Panama.
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. 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.
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Having an offshore entity in Panama means that money earned outside of Panama is
not taxed in Panama.
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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.
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Visit us at www.RobertGirga.com for
insight into profiting in Panama.
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Investing in Panama: Business and Real Estate
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Capitalism works in Panama.
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It is perfectly OK to let someone else deal with social security and workman comp
issues
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while you purchase commercial real estate and
have a professional property management company collect rents and handle all details.
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When the thriving economy in Panama drives the price of
your commercial real estate to higher levels you can sell and
reinvest
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in a new, promising location like the growing economy and
currency of Colombia.
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The new Panama Metro Line 1 is due to start operation in a
year or so.
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Anyone interested in commercial real estate
investment would do well to consult the map provided by
the Metro Authority.
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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.
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Invest in Growth - Invest in Panama
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Every so often life can present us with a good deal.
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Recognize it and catch it in time and you may do very
well.
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Miss out and complain forever.
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An opportunity today is Panama.
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While the world languished in the worst recession in three
quarters of a century Panama’s growth rate fell to
3%.
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But, even in a growing economy there are business
failures.
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Consider investing in distressed properties.
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These repossessed properties are often brand new and are
only distressed in the financial sense.
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Couple this idea with a trip out along the metro line and you have a business plan in the
works.
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There are a number of ways of profiting in Panama and
while in Panama.
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Pay attention to Panama’s economy, the housing and
real estate market, and other investment opportunities.
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Think about investing in property and letting some else
meet the public and meet payroll.
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For more information about profiting in Panama contact us at
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