Panama City – Growing Economy

Panama City The economy is growing more than 6% annually with the possibility of exceeding 7% in 2007. There are currently more than 15,000 Americans living in Panama. English is widely spoken. Panama is a Technologically advanced country, offers high speed internet, good cel phone coverage, fast install of home and business phone systems, and TV with English channels There is no property tax for retirees until a home is sold, and a 20-year exoneration from taxes on new homes. Discounts up to 50% for retirees, retirees find more for less in Panama Excellent incentive program for retirees. Panama’s Pensionado law is written so Today’s pensioners will be protected tomorrow Panama has a warm, but diverse climate- the lowlands of Panama are hot and can be humid, yet there are year round cooler temperatures in the mountain areas In October 2006, Panamanians approved an ambitious plan to expand the Canal. The project, which is to begin in 2007 and could double the Canal’s capacity, is expected to be completed in 2014-15. Panama in December 2006 independently negotiated a free trade agreement with the US, which, when implemented, will help promote the country’s economic growth. Ask a question to an Expert E-mail to andrey.udolkin@incareg.com Andrey Udolkin Senior Sales Agent Inca Real Estate Group Telephone: 212-203-0979 Cell phone: 347-558-2850 www.homeswaiting.com Panama Real Estate