WHY INVEST IN PANAMA?
Panama ranks as the second largest economy in Latin America, its steady growth in recent years presented as a safe and very yielder place for investment. It’s actually located in the place 23 of 141 countries with the freest economy in the world according to the Fraser Institute of Canada, with the option of investing in Panama very profitable.
More than two million visitors from all over the world, moving this economy, mainly in the areas of logistics, finance and tourism is becoming increasingly important.
There are factors determining the growth and prosperity of Panama in recent years:
POLITICAL AND ECONOMIC STABILITY:
- Since 1990, Panama has democratically elected governments that have opened to the economic development of the nation.
- Panama has consolidated its economic expansion on the basis of freedom and clear rules on private property, freely convertible currency (in fact the Balboa is equivalent to the US dollar), and a series of government policies that while favoring foreign investors, also enhance the benefits for the country and its indigenous population (Obligation to employ Panamanians in foreign companies or restrictions in the professions that can have foreigners in Panama for example).
POLICIES TO PROMOTE FOREIGN INVESTMENT
To attract foreign investment, the government of Panama maintains, now over several years, very attractive programs and special development zones to attract foreign investors to invest in Panama, which has enhanced opportunities for new businesses of different sizes and growth the economy.
As a fact, high numbers of foreign direct investment recorded in recent years according to the Institute of Statistics and Census of Panama:
- In 2014 foreign direct investment recorded in the order of USD $ 4718.9 million.
- In 2015 these investments exceeded USD $ 2,560 million at the end of the first half.
EXPONENTIAL GROWTH MARKETS, PARTICULARLY OF REAL ESTATE:
The increased levels of quality of life and income of the people of Panama – USD $ 13,000 per capita / year – as well as the critical mass of immigrants coming to the country following different parts of the world, have shot up domestic markets from Panama.
In this sense, the real estate sector is significant for this growth (GDP growth at 6.5% in 2015). It is a fact that more and more multinational companies are moving to invest in Panama to establish their corporate or logistical platforms -100 of them in the last eight years this is an audience that requires residences for their workers, corporate headquarters, facilities infrastructure for this activity.
TAX ADVANTAGES – EXEMPTION FROM TAXES ON REAL ESTATE:
The advantages in financial and tax matters make investing in Panama an excellent choice to start international economic expansion of any company or entrepreneurs seeking to consolidate new business opportunities.
- The Tax Code of Panama indicates that newly built properties are exempt from property tax and depending on the age, can be between 5 and 15 years in the full exemption from these taxes.
All this speaks highly of the prospects for continued growth in Panama. More than enough reasons to invest in Panama.
At TDI Real Estate we are here to support your decision to invest in Panama, introducing you to the fabulous real estate market, offering properties in the city, beach or mountain. Fabulous locations with infinite peace like the horizon over the Pacific Ocean or dynamic city activity, nightlife and international business.