COSTA PEDASÍBeach Community
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INDEX
PanamaFacts&Figures 3
PanamaToday 4
StableAndGrowingEconomy 5
World‐ClassGolfing,Sailing,Diving,RaftingAndFishing 6
SafetyAndSecurity 6
LowCostOfLiving 7
World‐ClassModernInfrastructure
WarnClimateAllYearRound 8
AGreatRetirementDestinationAForeignInvestorAndRetiree‐FriendlyGovernment 9
Globalized‐Culture 10
CostaPedasí:TheCommunity 11
LiveYourDream 12
Location 13
TheAzuerosPeninzula:TropicalTuscany 14
Pedasí 15
IslaIguana:ThePanamanianGalapagos 18
TheModelHomes 19
TheTucan 20
TheDolphin 22
TheWhale 24
Amenities 26
GettingToPedasí 27
FrecuentlyAskedQuestions 28
HowToReserve 32
LegalRepresentationContact 33
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2
PANAMAFACTS&FIGURESOfficialName:RepublicofPanama(RepublicadePanama)
Capital:PanamaCity
Nationality:Panamanian
Languages:Spanishistheofficialanddominantlanguage
spokeninPanama.However,Englishisnowasecondofficial
languageandwidelyspoken.
Currency:BalboaandUSDollar
Population:3,191,319(July2006est.)
PopulationGrowthRate:1.6%(July2006est.)
GovernmentType:ConstitutionalDemocracy
Army:Abolishedin1990
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3Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
PANAMATODAY
Thereisareasonwhynumeroustravelpublicationshave
ratedPanamathenumberonesecondhomeandretirement
destinationintheworld!Morethanitsfamousandimportant
Canal,PanamaisLatinAmerica’sparadise.
Itswarmweather,diverseecosystem,breathtakingbeaches,high
standardoflivingandtrulyaffordablerealestatemakeitanideal
placetoinvestinandestablishasecondhome.
Duetoitsproximitytotheequator,Panamadoesnotsufferfromthe
frequenthurricanes(oranyothernaturalcatastrophes)thatplagueits
neighboringCaribbeanandsouthernUScoasts.
Panama’sweatherisseparatedbytwoseasons,thedry(orsummer
season),whichlastsbetweenthemonthsofDecemberandApril,and
thewet(orwinterseason)fortheremainderoftheyear.Temperature
variationsacrossdifferentregionsofthecountryarepresentprimarily
duetotheiraltitudeandproximitytotheocean.
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4Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
STABLEANDGROWINGECONOMYPanama’seconomyregistersitsgreatesteconomicgrowthinfiveyears,
growingfrom6.4%in2006to11.2%in2007.AccordingtoReuters,
PanamaisoneofLatinAmerica’sfastest‐growingeconomies,spurredby
increasedcanaltraffic,aboomingconstructionsector,buoyantbanks
andincreasedexportsoftropicalfruit.
TheCanalExpansion,aUSD$5.25billionprojectisaimedatdoublingthe
capacityofthecanalandattractinganincredible40,000jobsduringthe
estimatedtimelineofseventoeightyears.
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WiththeU.S.dollarcirculatingaslegaltendersince1904,
Panama’seconomicstabilityprovidesverylowinflationratesand
virtuallynocurrencyfluctuations.
PanamahasdevelopedasuccessfulandHi‐Endinternational
“BankingCenter”inLatinAmerica,withmorethan85banks
from35countries.Panamaalsohastransparencyandsecurity
standardsworthyofaFirst‐Worldservice.
5Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
WORLD‐CLASSGOLFING,SAILING,DIVING,RAFTINGANDFISHING
SAFETYANDSECURITY
Panamaishometosomeoftheworld’sbestgolfcoursesdesignedby
thelikesofJackNicklausandArnoldPalmer.Panamaisalsoknown
foritsexcellentfishingandishosttomanyinternationalfishing
competitions.
PanamaisconsideredoneofthesafestcountriesinallofSouthand
CentralAmerica.Panamaniansareextremelyfriendlyandwelcoming
people,andforeignerswholiveinPanama,willtellyouthattheyfeel
verysafeandthatstreetcrimesareuncommon.
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6Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
LOWCOSTOFLIVING
WORLD‐CLASSMODERNINFRASTRUCTURE
EventhoughPanamaboastsastandardoflivingthatiscomparableto
NorthAmericaandEurope,thecostissignificantlylower.Forexample,
afull‐timelive‐inmaidwouldrunapproximately$250monthly;ataxiwill
charge$2tovirtuallyanydestinationwithincitylimits;amovieinaNorth
Americanstylecinemawillcostunder$4;anafternoonatabeautysalon
is$8;agardenerwillroughlycost$10aday;andaluxuriousrestaurant
meal(includingappetizers,sides,drinks,andtips)willcostcloseto$50
percouple.
Panamafeaturesoneoftheworld’smostsophisticatedtelecommunicationsnetworksandfirst‐
worldcountrywideroadinfrastructure.Thecountry’smodernshoppingmalls,bankingcenter
andhospitalswilleasilyrivalanyofthoseinNorthAmerica.Withapurifiedtapwatersystem,
high‐speedInternetaccess,cableTV,internationalrestaurants,clubs,casinosandmuchmore,
you’llfindthatmakingthetransitiontoPanamaiseasywhenalltheluxuriesofbackhomeare
withinarm’sreach.
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7Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
WARMCLIMATEALLYEARROUND
AGREATRETIREMENTDESTINATION
Panamaofferswarmweatherallyearround,withtemperaturesfluctuating
between22and30degreesCelsius.Duetoitsproximitytotheequator,
PanamadoesnotsufferfromthefrequenthurricanesthathittheCaribbean
andsouthernUScoast.
Panamahasbeenrankedbynumeroussourcesasoneofthebestplacesin
theworldtoretire.InSeptemberofthisyear,ithasbeenrecentlyannounced
“Forthesixthconsecutiveyear,thesamecountryhascomeoutontopof
theILGlobalRetirementIndex.Aftercloselyreviewingeightkeyfactors:
RealEstatePrices,SpecialBenefitsforRetirees,CostofLiving,Safetyand
Stability,HealthCare,Climate,Culture&Entertainment,andInfrastructure,
Panamacameoutthetopdestination”.Thisisnotsurprisingconsidering
theattractiveincentiveprogramretireesreceive(discountsofupto50%off
onentertainment,transportation,accommodations,restaurants,hospital
bills,prescriptionmedicines,medicalconsultationandexams,utilitybills,and
muchmore)
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8Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
AFOREIGNINVESTORANDRETIREE‐FRIENDLYGOVERNMENT.Panamahasthebestretireebenefitsplanintheworldandalso
aninvestor‐friendlygovernment.DoingbusinessinPanamais
apleasurebecausemanyinPanama’sentrepreneurialclassare
US‐educated startingwith PresidentMartin Torrijos himself
andhistopofficials.
Someofthebenefitsforretirees:
50%offentertainmentincludingmovies,concerts,theateretc.
(aregularmovieticketcosts$4‐theretireepriceis$2.)
25%offrestaurants
50%offhotelaccommodations
30%offbus,boatandtrainfares
25%offdomesticandinternationalairlinetickets
10%offprescriptionmedicines(muchcheaperthanUSprices
tobeginwith)
15%offdentalandeyeexams
50%offclosingcostsforhomeloans
Unlikeothercountries,inPanamaforeignerswhobuyproperty
enjoyallthesamerightsandprotectionsasPanamanians.
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9Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
GLOBALIZED‐CULTURE
Panamanianhavealonghistoryoflivingandworkingwith
foreignersandtheyactuallyenjoyforeigners.There’sasayingthat
Panamawas“bornglobalized”.
Historically,Panamaishometoimmigrantsfromallover
theworld.Thedifferentcommunitiescomprisedofdifferent
nationalitiesandraceshavegetalongamicably.LikemostLatin
Americancountriesmostcommonare“mestizos”orpersonswho
areacombinationofEuropeanandIndianorigin.
YouwillfindthatPanamananiansarefriendlyandfunloving.Of
specialnoteistheirpredilectionforbeautyandelegance.This
senseofbeautyisvisibleinmanyways,fromthedelicacyoftheir
Indianhandicrafts,totheirbeautifullygroomedwomenandinthe
PanamaCity’smanywellappointedneighborhoods.
LocatedinCentralAmerica,Panamaiseasytogetto.Itisjust3to
5hoursbyplanefromtheUnitedStatesofAmerica,therearenon‐
stopdailyflightstoMiami,Atlanta,Houston,Dallas,Newark,Los
Angeles,NewYork,WashingtonD.C.,OrlandoandFortLauderdale
servedbyDelta,Continental,American,CopaandSpiritAirlines.From
Europe,KLMhas3directlyweeklyflights.FromCanada,AirTransat
hasaweeklyCharterflightoutofToronto.
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10Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
www INDEXCOSTA PEDASÍ: The Community
11Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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CostaPedasíconsistsofprivatevillasenjoyingstunningoceanviews.
Thecommunityresidesonahillfacingthecoast.Allhomes,whetherdirectlyadjacenttothebeachorfartherback,
enjoyaclearviewoftheinspiringPacificOceanandexperienceitscaressingbreeze.
LIVE YOUR DREAM
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Pedasí
Panama City
Tocumen
Gamboa
Colón
Arraiján
Chorrera
Capira
El Valle
Rio Hato
Penonomé
El Caño
Divisa
Chitré
Guararé
Las Tablas
Pocrí
Venado Beach
Santa Clara Beach
LOCATION
SeemapinGoogleMaps
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“CostaPedasi”residesinthemostattractiveregion
ofPanama–theAzuerosPeninsula.Visitorsfrequently
likenthisregiontothepicturesqueTuscany,Italyand
theGuanacasteregionofCostaRica.Largestretchesof
rollinghillsmeetvastexpansesofsoftsandybeaches,
atthefootofwarmsoothingwaters.
Friendly,welcominglocals,hardlytarnishedby
modernity,providetheirforthcomingassistanceasyou
findyourwaytoyourblue‐greenoceanicdestinationor
thelocalmini‐market.
YettheAzuerosPeninsulaalsoprovidesextensivefirst‐
rateinfrastructure:
Contemporaryroads,landlineandcellular
communications,robustelectricity,drinkabletap
water,up‐to‐datehealthcenters,modernhospitals,
andcommercialactivitycreateanidealcombinationof
tranquilityandconvenience.
THE AZUEROS PENINSULA: Tropical Tuscany
14Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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OnlyamilefromournewbeachfrontcommunityatCosta
PedasíliesthepicturesqueVillageofPedasí,offering
restaurants,hotels,bars,supermarkets,andmedicalclinics.
Whenyouseektoshopforsomeofyourdailyneeds,run
errandsorinteractwithlocalsandtourists,youmayvisitthis
quaintvillage,locatedjust5minutesfromyournewproperty.
Joincelebritiesandmanyothersfromaroundtheworld
whohavechosenPedasíastheirnewfirstorsecondhome
destination.
PEDASÍ
15Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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Thoseseekingmoreactivelifestylesmayenjoythe
plethoraofwatersportsandwildlifeopportunities
readilyaccessibleforthetaking.Pedasiarea
offersworldclasssurfing,deepseafishing,diving,
snorkelingandhikingNatureloverswillfindin
Pedasíawildlifeexplorationheaven.
PEDASÍ
16Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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PedasiandtheAzueroPeninsula,haveaverydiversemarine
ecosystemandfantasticoffshorefishing.TheAzuero
PeninsulaisoftenreferredtoastheTunaCoastforits
abundanceofyellowfintuna.Howevertunaisnottheonly
fishthatcanbefoundinthewatersnearPedasiandinthe
AzueroPeninsula.Therearenumeroustypesoffishincluding
Wahoo,Snapper,Grouper,Dorado,MackerelandAmberJack
(tonameafew)thatcanbefoundinPanama’sAzuero
Peninsula.
PEDASÍ
17Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
MinutesawaybyboatfromCostaPedasi,this
islandprovidesvisitorsaveritablenatural
wonderland.Amidst35acresofcoralreefs,13
coralspeciesandanastounding200species
offish,IslaIguanaoffersthebestsnorkeling
inthecountryandoutstandingdiving
opportunities.
Thisislandfeatureshumpbackwhalesinits
waters,giantiguanasandtheyearlynesting
siteofthe4‐footCareyseaturtle.
Birderscanenjoytheregion’slargestcolony
ofmagnificentfrigatebirdswiththeirpuffed
redchests,withouttravelingtothemore
distantGalapagosIslands.
www INDEXISLA IGUANA: The Panamanian Galapagos
18Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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Inour235acredevelopment,youmaychooseastate‐of‐the‐arthomefromone
ofour3modeldesigns.Ourarchitectfirm,Mallol&Mallol,hascreatedacolonial,
openandairydesignthatmaximizesbreathtakingoceanviewsaswellastop‐
of‐the‐linefeaturesandamenities,includingaprivatepool,privatecargarage,
multiplerestroomsandfirstclassmaterialsineachmodel.
Atthesametime,ourmodelsprovidenaturalflowandfunctionalliving
environments.Alternatively,ifyouprefer,youmayletyourimaginationgoand
designthecustomizedhomeofyourdreams.
THE MODEL HOMES
19Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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Thiscomfortablemodelallowsbrilliantoceanviewsformostareasofthehouse.TheTucan’smasterbedroom,livingand
diningroomsspillintothewidedecksurroundinganopenairpool,facingthebeach.
THE TUCAN
20Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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‐Totalarea:2,766squarefeet(257squaremeters),ofwhich1,388
squarefeet(129squaremeters)areenclosed‐Ceilingheight:12feet
(3.65meters)
‐Directoceanviewsfromthelivingroom,diningroom,master
bedroomandpool
THE TUCAN
‐Twobedrooms,eachwithitsownfullbathroom
‐Openkitchen
‐Openonecargaragewitharooftop
‐Pool
21Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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Thismodel’sroomydesignconferssensationaloceanviewsonmostareasofthehouse.TheDolphin’smasterbedroom,livingand
diningroomsspillintothedecksurroundinganopenairpool.Thevilla’sfloorplanseparatesitsprivatespace–encompassingtwo
bedroomswithprivaterestrooms–fromitspublicareas.
THE DOLPHIN
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‐Totalarea:3,089squarefeet(287squaremeters),ofwhich2,013
squarefeet(187squaremeters)areenclosed
‐Ceilingheight:12feet(3.65meters)
‐Directoceanviewsfromthelivingroom,diningroomandmaster
bedroom
THE DOLPHIN
‐Twobedrooms,eachwithitsownfullbathroom
‐Live‐inhousekeeper’ssuite,includingabathroom
‐Guests’bathroom
‐Openkitchen
‐Enclosedonecargarage
‐Pool
23Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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TheWhale’sgrandfoyerentrancehallfacesanopenpooldeckoverlookingthePacificOcean.Inthemiddleofthevillathe
magnificentpoolseparatesthemodel’sprivateareaanditspublicareas.Thiscreativedesigneffectivelyincorporatestheopen‐
airpoolintotherestofthehouse,makingittheluxuriousvilla’scentralroom.
THE WHALE
24Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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‐Totalarea:4,327squarefeet(402squaremeters),ofwhich3,143
squarefeet(292squaremeters)areenclosed.
‐Ceilingheight:12feet(3.65meters)
‐Grandfoyerentrancehallandlobby
‐Directoceanviewsfromthelivingroom,diningroomandmaster
bedroom
‐Threebedrooms,eachwithitsownfullbathroom
THE WHALE
‐Familyroom
‐Live‐inhousekeeper’ssuite
‐Openkitchen
‐Enclosedtwocargarage
‐Pool
25Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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CostaPedasíprovidesawidearrayofcommunity
facilitiesandservices,including:
•Beachclub
•Communityswimmingpool
•Tennis,basketballandvolleyballcourts
•Children’splayground
•Parks
•Horsestable
•Walkingtrails
•Sitemanagementservices
•Gatedcommunitywith24hoursecurity
AMENITIES
26Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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CostaPedasiisapproximately3and
halfhoursfromPanamaCitybycar.
Itisabeautifuldriveoververygood
roads.
AirPanamaofferscommercialflights
betweenPanamaCityandPedasi.
Pedasiairportislocatedlessthan5
minutesdrivefrom“CostaPedasi”
GETTING TO PEDASÍ
27Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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HowdoIgettoPanama?
Panamahasbecomeaninternationalhubforland,oceanandair
transportation.TheeasiestandfastestwaytogettoPanamafrom
isbyair.Thereareseveralfirst‐classairlinesflyingfromHouston,
LosAngeles,Miami,NewYork,NewJerseyAtlantaandotherUS
internationalandEuropeanairportswithdirectflightstoPanama.The
flightfromMiamitoPanamaMiami,forexample,takeslessthanthree
hours.
CanqualityhealthcarebeobtainedinPanama?
Panamaisabletoprovidetheverybesthealthcareservicesand
attentionintheregion.PanamaCityhasseveralworld‐classhospitals,
andmanyoftheirdoctorshavebeentrainedintheUSandarebilingual.
HospitalssuchasthePuntaPacíficahospital,affiliatedwithJohns
HopkinsMedicineInternational;thePaitillaMedicalCenterhospital,
affiliatedwiththeClevelandClinic;andtheSanFernandoandNacional
hospitals,featurestate‐of‐the‐arttechnologyandequipment,andtheir
doctors,nursesandtechnologistsarehighlytrained.Consequently,
theyareabletoprovideexcellentattentioninaverybroadvarietyof
specialtiestomeeteveryone’sneeds.Oneimportantaspectisthefact
thatalltheprocedures,servicesandattentioncanbehadatmuch
lowercoststhanintheUSandotherareas.Thesecostsavingshave
contributedtoPanamabecomingahealthtourismdestinationas
peopleneedingmedicalattentioncanobtainmedicalanddental
servicesatsubstantiallylowercostswhileenjoyingavacationinthe
country.
WhataboutimmediatemedicalneedsatCostaPedasi?
Forimmediateneeds,thereisaclinicwithEnglishspeaking
doctorsthathavebeentrainedintheUSinthetownofPedasi,
threeminutesfrom“CostaPedasi”.Theregionalhospitalis
approximately20minutesdrivefromthesiteinLasTablas.
Whowillbuildmyhousein“CostaPedasi”
Youarefreetobuildyourhousewithoneofourpreferredbuilders
oruseyourownbuilder.
Anywayyouprefer,wewillworkcloselyandassistyouwithall
phasesoftheirhomeconstructionincludingcontractsigningwith
thebuilder,ongoingqualityinspection,finishesselectionand
furnishings.
FREQUENTLY ASKED QUESTIONS
28Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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CanIplanmyownhouse?
Buyersarefreetouseourstateoftheart,Malloldesigned
housesandourpreferredbuildersorhiretheirown
architects/buildersbutallplansmustmeet“CostaPedasi”
guidelinestoinsureoverallhigh‐qualitylookandfeelofthe
propertyandtohelpprotecttheinvestmenteachbuyerismaking.
IsPanamaasafeplace?
Yes,itis.Panamaisconsideredasoneofthesafestcountriesaround
theworld,andhasthehighestratingfromtheprestigiousPinkerton
IntelligenceAgencyfortouristsafety.TheAzuerospeninsulaisin
particularsafe,muchlikesmallfarmingcommunitiesintheUSwereinthe
50’sorbefore.Wefeelitmaybeoneofthesafestplacesleftonearth.
WhatcurrencyisusedinPanama?
TheUSDollarhasbeenthelegalcurrencyinPanamasince1904and,
consequently,therearenocurrencyexchangeproblemstodealwith.
Additionally,itsusehasallowedPanamatohaveaninflationrateofless
than2.5%,withnofearsofdevaluation,andcontributestohavingthe
moststableeconomyintheregion.Infact,Panama’seconomyisgrowing
attherateofapproximately7%peryear.
WhataboutelectricityandPanama’sinfrastructure?
AsintheUS,Panama’selectricityisthesameat110volts/60
cycles,whichmeansthatalltheelectricalappliancesthat
youbringtoPanamacanbeusedasis.Panamaalsohasone
oftheworld’smostdevelopedstate‐of‐the‐artfiberoptics
communicationssystem;cableTV;telephones,bothfixedand
cellular,andhigh‐speedInternetservice.Internationallong‐
distancecallsareatveryeconomicalrates,andconnectionsare
instanteverytime,allthetime.
WhatkindofvisadoIneedtoresideinPanama?
IfaftervisitingyoudecidetomovetoPanama,thesimplest
typesofvisaisthe‘Pensionado’orRetireeVisathatcanbe
obtainedbyprovingthatyouhaveaminimummonthlyincome
ofUS$600.00.Therearealsoother
FREQUENTLY ASKED QUESTIONS
29Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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Asaforeignerpurchasingproperty,amIprotectedunderPanama’s
laws?
Absolutely!Unlikeothercountries,foreignerswhobuypropertyin
PanamahavealltheverysamerightsandprotectionasPanamanians
asestablishedintheInvestmentStabilityLawNo.54ofJuly22,1998,
guaranteeingequalprotectionfornationalandforeigninvestors.
Whatincentivesdoretireeshave?
Panamaoffersseveraladvantagesinitsspeciallawscreatedforthe
benefitofretirees,amongwhichareaseriesofdiscountsasshown
below:
1.Aone‐timeimportdutyexemptiononhouseholdorpersonalgoodsup
toUS$10,000.
2.Importdutyexemptioneverytwoyearsonvehiclesforpersonaluse.
3.50%discountonfaresfortheaters,sportingeventsandconcerts.
4.25%discountonthevalueoffoodatrestaurants,notincludingliquor.
5.15%discountonthevalueoffoodatfast‐foodestablishments.
6.10%discountonthevalueofmedications.
7.25%discountonthemonthlyenergybill.
8.25%discountonthemonthlyphonebill.
9.20%discountonmedicalconsultationsandsurgery.
10.15%discountondentalservices.
11.15%discountonoptometryservices.
12.50%discountonhotelbills,MondaythroughThursday,and30%
onweekends.
13.25%discountonairfares,and30%discountonother
transportation.
14.Propertytaxexemptionifitistheretiree’ssoleresidence.
WhatisPanama’sandtheAzuerosclimatelike?
Panama’senjoysawarmweatherallyearround,andhastwo
seasons:therainyseasonandthedryseason.Therainyseason
runsfromMaythroughNovember.Thedryseasonisfrom
DecemberthroughApril.Theaveragetemperatureonthe
Azuerospeninsulaforeverymonthoftheyearis78Fto82F.
Totalprecipitationis65.8incheswithalmosthalfofthatcoming
SeptemberthroughOctober
Whatarethenaturaldisastersrisks?
Panamaisblessedinthatrespectasitisfreefrommajornatural
disasters,includingearthquakes,hurricanes,tornadoesandother
destructivephenomena.
FREQUENTLY ASKED QUESTIONS
30Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
HowdoesthecostoflivinginPanamacomparewithothercountries?
Panama’scostoflivingismuchlowerthanintheUS,Canadaor
Europe.ManyforeignersresidinginPanamaareenjoyingthe
lifestyletheywantatmuchlowerpricesthanintheircountriesof
origin.InPanama,theycanaffordtohaveafull‐timelive‐inmaidfor
approximately$200‐$250permonth,enjoyfinediningatfirst‐class
restaurantsandentertainment,allatafractionofwhattheywould
costinothercountries.
WhataboutPanama’sbankingsystem?
Panamahasoneofthemostrecognizedandrespectedbanking
systemsintheregion,withover80internationalbanksproviding
multipleservices,andtheuseoftheUSDollarmakestransactions
convenientandsimpleastherearenocurrencyexchangeproblemsor
devaluationfearstodealwith.
WhattypeofgovernmentdoesPanamahave?
Panamahasademocraticallyelectedgovernment,andmaintains
politicalandsocialstabilitytoensurethatthecountryprogressesand
meetsitsgoals.Withthisstabilityinplace,investorsareprotected
undertheInvestmentStabilityLawNo.54ofJuly22,1998,that
guaranteesequalrightsfornationalandforeigninvestorsalike.
www INDEX
Isthearmyasourceofpotentialinstability?
ThePanamanianmilitarynolongerexistsasitwasabolishedby
constitutionalamendmentin1994.DuetotheNeutralityTreatyof
thePanamaCanalthecountryhasafantasticsecurityarrangement
withtheUnitedStates
ShouldIdecidetomovetoPanama,whataboutmycarand
householdgoods?
AmongtheadvantagesthatPanamaoffersforretireesisaone‐
timeimportdutyexemptiononhouseholdorpersonalgoodsup
toUS$10,000.00.Thecarwillbesubjecttoimportdutiesbut,asa
retiree,youwillalsobenefitfromtaxexemptioneverytwoyearson
vehiclesforpersonaluse.
AregolfcoursesavailableinPanama?
Panamahassomeofthebestprofessionalgolfcoursesavailable.
TheclosestGolfcourseto“CostaPedasi“isonehouraway.
FREQUENTLY ASKED QUESTIONS
31Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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Youcanreserveyourpropertywithadownpaymentof5,000.US
WiringinstructionstoCpanamaRealEstateCorp.careof
WachoviaBankasintermediarybank:
SWIFTNº.PNBPUS3NNYC
Fedwire(ABA):026005092
FAVOROF:CredicorpBank
SWIFTNº.CRLDPAP1XXX
AccountNo.2000192371551
ForFurtherCreditAccountNo.4010137822
FinalBeneficiaryName:CPANAMAREALESTATECORP.
Addressesofinvolvedbanksandbeneficiary:
AddressofWachoviaBank
NA,NewYork50MainStreet,WhitePlains,NewYork10606,USA
AddressofCredicorpBank
Calle50,EdificioPlazaCredicorpBank,PanamaCity,Panama
AddressofCpanamaRealEstateCorp.
AvenidaBalboa,EdificioLosDelfines,Office#6,PanamaCity,
PanamaLEGALREPRESENTATIONInanyforeigncountryitisimperativeyouhaveanattorney.
Wecountwithourprofessionallegaldepartmentforanyadviceand
consultancythatyoumayrequired.
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HOW TO RESERVE
32Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
Cpanama Real Estate Corp. www.cpanama.com // tel; (507) 223-6197 // [email protected]
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33Cpanama Real Estate Corp. www.cpanama.com // tel: (507) 223-6197 // [email protected]
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