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Frequently Asked Questions
1. Is Panama safe?
Panama was recently reported by Pinkerton
Intelligence Agency to be one of the safest countries anywhere in
the world. There is very little violent crime. Like anywhere, there
are certain neighborhoods to be avoided . Don’t go out late at
night, alone, into areas you don’t know. Don’t carry a lot of cash
or wear jewelry. On the whole, Panamanian people are widely
recognized as some of the friendliest, most helpful, most generous
people anywhere.
2. Do I need a visa to enter Panama?
American citizens do not need a visa. Simply
purchase a $5 tourist card from your airline at the ticket counter
on the day of departure for Panama. A tourist card gives you an
automatic 30 day stay in Panama and is extendible for another 60
days.
3. How is the drinking water?
The US CDC website recommends protection
against malaria, yellow fever, typhoid and hepatitis A. Unless you
are going to be spending time deep in the jungle, these are not
necessary. It is safe to drink the tap water almost anywhere in
Panama. If you have any concerns, bottled water is readily available
and cheap.
4. Is Panama Politically stable?
Since Noriega’s removal from power in the late
1980’s Panama has flourished. There is no military presence to speak
of and the police deal with normal public safety issues like
traffic, crime etc.
5 . Is it inexpensive?
In Boquete you can spend $10-$20 for a room at
a hostel, $50-$100 at a nice B&B, and there are lots of other
desirable options in between. A first-rate filet mignon dinner at
Boquete Bistro costs $10. Groceries are extremely inexpensive and
fuel is consistent with prices in America.
6 . Can I use credit cards and travelers
checks?
Credit cards are widely accepted and there are
ATM’s everywhere. Travelers checks are not as easy to use.
7 . What is the national currency?
The US dollar is used in Panama.
8. Is Panama English speaking?
Most Panamanians speak English and many speak
it fluently. English has definitely become a second language.
9 . What should I bring?
A pocket dictionary, a current copy of the
Lonely Planet Guide to Panama, sun screen , rain jacket and/or
umbrella, long sleeve sweater or jacket for cool mountain evenings
and binoculars.
Real Estate FAQs
1. Can non-residents buy property?
Non residents are permitted to purchase and
own property, just the same as Panamanians. Panama has very strict
property owner protection rights. Financing is sometimes available
depending on what and where.
2. Are there tax incentives for the purchase
or development of real estate?
If you submit the blue prints of a project and
build it within the proposed time table, the cost of the building
(excluding the land) will be tax free for up to 15 years.
3. How is title protected in Panama?
In Panama all property titles are registered
at the "Registro Público" (Public Registry) through an easy
bureaucratic process.
5. Do foreigners enjoy the same property
rights as Panamanian citizens?
Yes!
6. Is financing available?
Yes! We offer 50% financing on our home sites.
Please call us for additional details.
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