Profiting in Panama

Profiting in Panama

By
www.RobertGirga.com/RobertGirga/

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.


And, 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
profiting 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.


Panama ranks 73 in dealing
with construction permits.


This can mean a lot of
paperwork and waiting to get
a project going, make
changes, and deal with
paperwork in general.


Because of the Panama Canal
and the Colon Free Zone
Panama does especially well
in foreign trade related
matters.


In other areas a foreigner will
probably want a Panamanian
partner to help run the
business.


So, if doing business in
Panama could be a chore
what are the options for
profiting in Panama?


Engaging in Business
Offshore from Panama


Not everyone living in Panama
does business in Panama.


. 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.


Having an offshore entity in
Panama means that money
earned outside of Panama is
not taxed in Panama.


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.


Visit us at
www.RobertGirga.com for
insight into profiting in
Panama.


Investing in Panama:
Business and Real Estate


Capitalism works in Panama.


It is perfectly OK to let
someone else deal with social
security and workman comp
issues


while you purchase
commercial real estate and
have a professional property
management company collect
rents and handle all details.


When the thriving economy in
Panama drives the price of
your commercial real estate to
higher levels you can sell and
reinvest


in a new, promising location
like the growing economy and
currency of Colombia.


The new Panama Metro Line
1 is due to start operation in a
year or so.


Anyone interested in
commercial real estate
investment would do well to
consult the map provided by
the Metro Authority.


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.


Invest in Growth - Invest in
Panama


Every so often life can present
us with a good deal.


Recognize it and catch it in
time and you may do very
well.


Miss out and complain forever.


An opportunity today is
Panama.


While the world languished in
the worst recession in three
quarters of a century
Panama’s growth rate fell to
3%.


But, even in a growing
economy there are business
failures.


Consider investing in
distressed properties.


These repossessed properties
are often brand new and are
only distressed in the financial
sense.


Couple this idea with a trip out
along the metro line and you
have a business plan in the
works.


There are a number of ways
of profiting in Panama and
while in Panama.


Pay attention to Panama’s
economy, the housing and
real estate market, and other
investment opportunities.


Think about investing in
property and letting some else
meet the public and meet
payroll.


For more information about
profiting in Panama contact us at

www.RobertGirga.com

Profiting in Panama

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