1. From talking to real estate firms and retirees, it could be deduced that the Panama boom started in 2004 when many magazines and newspapers such as Travel and Leisure, New York Times, Frommers Guide, among many others, discovered Panama.
2. Panama has a Western culture, versus places like Thailand with Eastern cultures which may be difficult to understand and relate to. Add to the above – the wide variety of banks available, an international community, a vibrant nightlife, diverse landscapes in a tiny geography.
3. The international top names are here. Panama has 200 plus franchises with more on the way. Names like Cartier, Tommy Hilfiger, Bulgari, Calvin Klein, Liz Claiborne, Perry Ellis, Hugo Boss, Oscar de la Renta, Nine West, Kenneth Cole, Apple Store, Nike, Reebok, the Golden Arches, Bennigans, Blockbuster and Speedo just begin to start the list. Panama City is getting well known as a paradise for shoppers.
As a cautionary note, be mindful of any attorney who says yes to everything and tells you “that the process is quick and simple”. It’s not! an attorney who speaks your language fluently is paramount; you don’t want to have anything ‘lost in translation’. One word can change everything, which could create legal or monetary complications. Always ask for in advance, an estimate on the costs and the expected fees.
5. Panama makes it easy to live a healthy life. Tropical climate and beauty, combined with a more laid-back philosophy, set a foundation for potentially living a very stimulating, yet healthy, lifestyle when balanced in daily life.