Panama City

Panama is a country located in Central America, bordered by Costa Rica to the west and Colombia to the southeast. It is renowned for its iconic Panama Canal, which connects the Atlantic and Pacific oceans and serves as a crucial conduit for international maritime trade. The country’s diverse landscape encompasses rainforests, mountains, and beaches, offering a rich tapestry of natural beauty.
The Panama Canal stands as one of the most significant contributors to the country’s economy. Its strategic importance has made Panama a key player in global shipping and logistics. In addition to the canal, Panama City serves as a bustling financial hub with a skyline that reflects its modern infrastructure. The service sector, including banking and tourism, plays a vital role in the nation’s economy.
There are an array of attractions for nature enthusiasts and adventure seekers. From exploring the biodiversity of national parks like Soberanía and Darién to relaxing on the pristine beaches of Bocas del Toro or San Blas Islands, there are ample opportunities for eco-tourism and outdoor activities. Moreover, visitors can immerse themselves in Panama’s history by visiting sites such as Casco Viejo, the historic district of Panama City.
The political environment in Panama is relatively stable, providing a conducive atmosphere for investment. The government has demonstrated a commitment to maintaining investor confidence through transparent policies and regulatory frameworks.
The transportation network in Panama is well-developed, with modern highways connecting major cities and regions. Tocumen International Airport serves as a hub for international flights, facilitating easy access for travelers.
The city’s modern infrastructure is exemplified by its impressive skyline dominated by high-rise buildings and sleek architectural designs. Areas such as Punta Paitilla and Punta Pacifica are renowned for their luxury condominiums and upscale amenities. Furthermore, Panama City features a well-developed transportation network, including an efficient metro system that facilitates easy access to different parts of the city.
Panama City presents a captivating blend of history, modernity, cultural diversity, economic significance, and recreational offerings. Its strategic location at the crossroads of global trade has contributed to its development as a dynamic metropolis with much to offer to both residents and visitors.
One of the most striking aspects of Panama City is its cultural diversity. The city is home to a melting pot of ethnicities, including indigenous groups, Afro-Panamanians, mestizos, Europeans, Asians, and expatriates from around the world. This diversity is reflected in the city’s culinary scene, festivals, and overall cultural fabric.
Panama City’s culinary scene is diverse and exciting, offering a fusion of flavors influenced by its multicultural heritage. From traditional Panamanian dishes to international cuisine, visitors can indulge in a wide array of dining options. The city’s markets and street food stalls also provide an authentic taste of local flavors.
What we say about the Panama
According to the World Bank Panama’s economy grew four times the Latin American and the Caribbean (LAC) regional average prior to the COVID-19 pandemic. This is due to the fact that Panama City is the regional headquarters for hundreds of multinational companies and a true business and financial center. As a result, there is a rich and diversified pool of buyers and tenants from all over the world. In addition, Panama’s economy is supported by the Panama Canal, which generates about 40% of Panama’s GDP.
Panama is experiencing a large demand for property due to investors from Canada, US and employees from the many multinationals located there. Gross rental yields average around 7%. Many foreign pensioners are settling in Panama due to the low cost of living, climate and inexpensive private healthcare costs ($50 – $125 per month).
One of the main reasons why Panama is an attractive destination for investment is its favorable tax policies. The country has implemented several tax exemptions and incentives for foreign investors. It has a territorial tax system, meaning that residents are only taxed on income earned within the country. Non-residents are taxed on Panamanian-source income only. Additionally, Panama does not impose capital gains tax, inheritance tax, or wealth tax.

Weather
Panama has a tropical climate with warm and drys seasons. Panama averages 320 days of sunshine per year.

Wet Season
(May to December)
Despite the prolonged wet season, Panama is very sunny. Often mornings are sunny, with an hour or two of rain between 2 p.m. and 5 p.m. Even during the wettest months (August through November on the Pacific coast and in the mountains), there are rarely more than a few gray days in a row. The wet season offers unique opportunities to witness the country’s vibrant flora and fauna in full bloom.

Dry Season
(mid-December - May)
The weather is generally hot and dry. The average temperature in Panama during the summer months ranges from 75°F to 85°F (24°C to 29°C) in the lowlands and coastal areas, while it can be cooler in the highlands. The humidity levels are relatively high, especially in coastal regions. Rainfall is minimal during the summer months, contributing to the dry conditions.

Autumn
(late-September to December)
Autumn temperatures in Panama City are generally warm to hot. The average high temperature ranges from 86°F in September to 84°F in November, while the average low temperature ranges from 74°F to 76°F during the same period. The city receives an average of 180-200 millimeters (7-8 inches) of rainfall during these months. The city enjoys an average of 6-7 hours of sunshine per day during this time.

Winter
(December to April)
Winters are drier and cooler compared to the rest of the year. During this period, the average temperatures range from 75°F to 88°F, making it a popular time for tourists to visit the city. The humidity levels are also lower during the winter months, providing a more comfortable environment for outdoor activities. The average monthly precipitation during this period ranges from 1 inch to 3 inches.