profiting in panama

Download Profiting in Panama

Post on 20-May-2015

216 views

Category:

News & Politics

2 download

Embed Size (px)

DESCRIPTION

http://robertgirga.com/RobertGirga/profiting-in-panama/ Profiting in Panama Down on the isthmus that connects the Americas there is a prosperous little country with an economic growth rate that equals China’s. It has a big expat population and not all of them are retirees. Even some of the retirees in Panama still work, or at least invest. There are lots of 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. Expatriate Talent Panama Investment Opportunities Panama is business friendly. It has laws that attract foreign investment and foreign talent to a tropical paradise with first world infrastructure. Panama ranks number one in Latin America in foreign investment per capita. The country 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. Engaging in Business in Panama 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. 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. -more

TRANSCRIPT

  • 1. Profiting in PanamaBywww.RobertGirga.com/RobertGirga/

2. Down on the isthmus thatconnects the Americas thereis a prosperous little countrywith an economic growth rate that equals Chinas.www.RobertGirga.com/RobertGirga/ 3. It has a big expat populationand not all of them are retirees. www.RobertGirga.com/RobertGirga/ 4. And, some of the retirees inPanama still work, or at leastinvest.www.RobertGirga.com/RobertGirga/ 5. There are lots of opportunitiesin the land that connects North and South America as well as the Atlantic and Pacific Oceans. www.RobertGirga.com/RobertGirga/ 6. Here are a few thoughts aboutprofiting in Panama.www.RobertGirga.com/RobertGirga/ 7. Expatriate Talent - PanamaInvestment Opportunities www.RobertGirga.com/RobertGirga/ 8. Panama is business friendly.www.RobertGirga.com/RobertGirga/ 9. It has laws that attract foreign investment and foreign talentto a tropical paradise with firstworld infrastructure. www.RobertGirga.com/RobertGirga/ 10. Panama ranks number one inLatin America in foreign investment per capita.www.RobertGirga.com/RobertGirga/ 11. The country is takingadvantage of the previously undeveloped parts of the Panama Canal Zone. www.RobertGirga.com/RobertGirga/ 12. . It is promoting assembly and export facilities and isupgrading its ports andcontainer shipping infrastructure.www.RobertGirga.com/RobertGirga/ 13. The third lane PanamaCanal expansion is will bedone in a couple of years.www.RobertGirga.com/RobertGirga/ 14. This will allow the worlds biggest ships to pass fromocean to ocean and avoid the costly trip around the tip of South America.www.RobertGirga.com/RobertGirga/ 15. Expect to see Panama Canaltraffic increase and Panama prosperity with it.www.RobertGirga.com/RobertGirga/ 16. As the business climate inPanama prospers so doentrepreneurs in the nation. www.RobertGirga.com/RobertGirga/ 17. A number of online Englishpublications are run by expatsand the owner and the editorof the most prominent Englishlanguage newspaper in Panama City are both long term expats.www.RobertGirga.com/RobertGirga/ 18. It is perfectly legal to own and run a business in Panama ifyou are an expat from virtually anywhere. www.RobertGirga.com/RobertGirga/ 19. Engaging in Business in Panamawww.RobertGirga.com/RobertGirga/ 20. It is perfectly legal for an expatto come to Panama, employpeople, open a business, make money, make things orprovide services, and prosper. www.RobertGirga.com/RobertGirga/ 21. It can also be problematic to do business in a foreign location. www.RobertGirga.com/RobertGirga/ 22. However, as we said, Panama is business friendly and has few restrictions on doingbusiness in the country.www.RobertGirga.com/RobertGirga/ 23. Certainly, doing business in Panama is a lot easier for a Latino expat from Caracas,Bogot, or Barcelona than anEnglish speaker from Chicagoor Saint Louiswww.RobertGirga.com/RobertGirga/ 24. but because English iscommonly spoken in Panama all things are possible.www.RobertGirga.com/RobertGirga/ 25. Businesses can do well in Panama but remember thatthe pace of life, and business,are different in this climate.www.RobertGirga.com/RobertGirga/ 26. A Venezuelan fleeing lifeunder Hugo Chavez, anentrepreneur from San Jose,Costa Rica, or a businessmanfrom Bogotawww.RobertGirga.com/RobertGirga/ 27. may well have better intuitioninto doing business in Panama City than even theson of a Cuban refugee whowas raised to do business inthe Cuban community ofMiami.www.RobertGirga.com/RobertGirga/ 28. Take a look at the Doing Business website.www.RobertGirga.com/RobertGirga/ 29. On this World Bank sponsoredweb site relating to worldwide business Panama ranks 81stout of 181 economies ranked. www.RobertGirga.com/RobertGirga/ 30. Panama is eighth in doingbusiness across borders andtwenty-eighth in getting credit for doing business.www.RobertGirga.com/RobertGirga/ 31. Within the WesternHemisphere Panama ranks11th overall out of 31countries. www.RobertGirga.com/RobertGirga/ 32. Panama ranks 73 in dealing with construction permits. www.RobertGirga.com/RobertGirga/ 33. This can mean a lot ofpaperwork and waiting to get a project going, makechanges, and deal with paperwork in general.www.RobertGirga.com/RobertGirga/ 34. Because of the Panama Canaland the Colon Free Zone Panama does especially well in foreign trade related matters.www.RobertGirga.com/RobertGirga/ 35. In other areas a foreigner willprobably want a Panamanianpartner to help run thebusiness.www.RobertGirga.com/RobertGirga/ 36. So, if doing business inPanama could be a chore what are the options forprofiting in Panama?www.RobertGirga.com/RobertGirga/ 37. Engaging in BusinessOffshore from Panamawww.RobertGirga.com/RobertGirga/ 38. Not everyone living in Panama does business in Panama.www.RobertGirga.com/RobertGirga/ 39. . It is perfectly legal inPanama to set up an offshore corporation, do banking through a corporation, buygoods in Asia, and have them delivered to Europe.www.RobertGirga.com/RobertGirga/ 40. Having an offshore entity inPanama means that moneyearned outside of Panama is not taxed in Panama.www.RobertGirga.com/RobertGirga/ 41. Because of asset protectionvehicles, such as a Panama Private Interest Foundation,foreigners can own an offshorecorporation headquartered inBelize through a Panama foundation and bank in Belize.www.RobertGirga.com/RobertGirga/ 42. Visit us atwww.RobertGirga.com for insight into profiting inPanama.www.RobertGirga.com/RobertGirga/ 43. Investing in Panama:Business and Real Estate www.RobertGirga.com/RobertGirga/ 44. Capitalism works in Panama.www.RobertGirga.com/RobertGirga/ 45. It is perfectly OK to letsomeone else deal with social security and workman compissueswww.RobertGirga.com/RobertGirga/ 46. while you purchase commercial real estate andhave a professional propertymanagement company collect rents and handle all details.www.RobertGirga.com/RobertGirga/ 47. When the thriving economy in Panama drives the price ofyour commercial real estate tohigher levels you can sell and reinvestwww.RobertGirga.com/RobertGirga/ 48. in a new, promising locationlike the growing economy and currency of Colombia.www.RobertGirga.com/RobertGirga/ 49. The new Panama Metro Line1 is due to start operation in ayear or so.www.RobertGirga.com/RobertGirga/ 50. Anyone interested in commercial real estateinvestment would do well toconsult the map provided bythe Metro Authority. www.RobertGirga.com/RobertGirga/ 51. Think of metro stops asbusiness centers and contactus at www.RobertGirga.comfor a hint as to where to lookfor commercial locations.www.RobertGirga.com/RobertGirga/ 52. Invest in Growth - Invest inPanamawww.RobertGirga.com/RobertGirga/ 53. Every so often life can presentus with a good deal. www.RobertGirga.com/RobertGirga/ 54. Recognize it and catch it intime and you may do verywell. www.RobertGirga.com/RobertGirga/ 55. Miss out and complain forever. www.RobertGirga.com/RobertGirga/ 56. An opportunity today isPanama.www.RobertGirga.com/RobertGirga/ 57. While the world languished inthe worst recession in threequarters of a centuryPanamas growth rate fell to3%.www.RobertGirga.com/RobertGirga/ 58. But, even in a growingeconomy there are businessfailures. www.RobertGirga.com/RobertGirga/ 59. Consider investing in distressed properties.www.RobertGirga.com/RobertGirga/ 60. These repossessed properties are often brand new and areonly distressed in the financialsense. www.RobertGirga.com/RobertGirga/ 61. Couple this idea with a trip out along the metro line and you have a business plan in theworks. www.RobertGirga.com/RobertGirga/ 62. There are a number of ways of profiting in Panama andwhile in Panama. www.RobertGirga.com/RobertGirga/ 63. Pay attention to Panamas economy, the housing andreal estate market, and otherinvestment opportunities.www.RobertGirga.com/RobertGirga/ 64. Think about investing inproperty and letting some elsemeet the public and meet payroll.www.RobertGirga.com/RobertGirga/ 65. For more information aboutprofiting in Panama contact us at www.RobertGirga.com