 Weather:
Panama has two climates-the lowlands including Panama City which are tropical and humid and the highlands which have spring-like temperatures year round.
In the lowlands, temperatures during the day range between 80 F and 90 degrees Fahrenheit (25-30 degrees Celsius).It cools off in the evenings which are invariably pleasant. In the Highlands the day range is between 45F and 85F.
Government:
Panama is one of the most stable democracies in the Americas. Since 1989, when dictator Noriega was deposed (now languishing in a Miami prison), Panama’s presidents have been democratically elected. The current president Martin Torrijos began his five year term in September 2004. His government is investor friendly and is taking effective measures to reduce corruption.
Airlines:
How to Arrive: You can fly non-stop to Panama from the United States from Newark and Houston (Continental), Los Angeles (COPA), Miami (COPA, American), Orlando (COPA) and Atlanta (Delta). Fares are in the $400-600 range. Some high season tickets are higher.
You have 2 airline options to travel inside the country to its most important and visited locations. These are Aeroperlas Regional and Air Panama.
Financial Services:
What does a Foreigner need in order to purchase real estate in Panama? For Panamanian nationals, banks such national as well as international banks finance from 80%-100% of the value of the home while for foreigners, banks request at least 30% down payment and the remaining 70% is financed on a yearly based percentage rate which, at this time may be between 6.25% and 8% if the purchase is a house; if the transaction is for an investment, an additional 1% is atriibuted for the FECI which is the Special Fund for Interest.
Tenure of the credit granted by the bank is calculated using a table that considers the current age of the applicant and forecasts through to his or her retirement age.
Visas:
For a Temporal or Permanent Residence Visa in Panama there are certain requisites that must be attained:
1. Contact an attorney to help you with the different procedures.
2. Medical Certificate with no more than 3 months of expedition. The signature and code number of the doctor who made the medical tests.
3.H.I.V. (AIDS) test with no more than 6 months of expedition. Must include the method applied for the tests and the name and code of the doctor who made the medical tests. Generally, these tests do not apply for 12 year olds or younger.
4.Criminal history from your country of origin for the past 5 years of residence. This is only needed if you are staying for more than five years in Panama as a resident.
5.Six ID-size photographs.
6.Original passport with a minimum of 6 months of validity.
7. A check of a local bank with the sum of $100.00 (USD) for the Tesoro Nacional (National Treasure). (This is not required for some visas)
8. A check of a local bank with the sum of $500.00 (USD) for the Ministerio de Gobierno y Justicia (Ministry of Government and Justice). (Not required for pensioned tourist visa nor for visitants married with Panamanians)
9. Declaration of Personal Records.
Hospitals:
Actually, there is a clinic affiliated with the San Fernando Hospital being built in Coronado, a neighboring community, 3 miles away from Punta Barco. It is estimated to be ready by summer 2008.
There are 5 main hospitals in the city: The Paitilla hospital, the Children’s Hospital, the San Fernando Hospital, the National Hospital and the Hospital Punta Pacifica, Affiliated with Johns Hopkins Medicine International.
All these hospitals are at easily reachable points in the city, making it convenient for ambulances to spend less time driving. |
Punta Barco Resort is a 28 hectare private community located just an hour away from Panamá city. It harbors luxurios houses, vast green pastures and beautiful white sand beaches, making this resort one of the most exclusive places to live or retire in the World.