Great expectations for Panama’s recovery in 2021, post Covid_19.
2020 was probably the most astounding year of this new millennia and not precisely for good reasons, in the entire Latin-American region the economical expectations this year anticipate a slower growth or even commercial shrinking.
Panamá is nonetheless one of the countries that most prioritize economical restoration, because of that nowadays Panama is in a transition from lockdown to an economical reopening which points to a fast reactivation in various sectors of the economy such as real estate and construction.
Precisely this September 7th the construction sector both private and public began to function again, among many others, loosening the mobility restrictions imposed to keep coronavirus in control. The rest of which have been planned to be eliminated by mid-October.
Whilst challenges exist in these times Panama shows one of the best business environments in the region, one way of showing this are this March 2021 Moody’s and S&P evaluations of Panama’s risk which portrayed the country as the richest Latin-American country in 2021 due to the uninterrupted growth that Panama has exhibited for the last 10 years.
In addition to this, Panama with its national currency: the Balboa, which presents a 1 to 1 exchange rate with the US dollar, is a strong currency that brings stability and security to every business, which together with the low living cost and Panama’s well-developed infrastructure make of this nation one of best environments in which to invest and by itself an opportunity to diversify.
Panama’s development nowadays is being watched from everywhere around the world and shows a noticeable and sustained growth not only because of its key positioning in global commerce but also because of its government, which favors foreign investments and strongly encourages development of the private sector, together with its nurturing and protection as the means of living of its citizens.
Panama’s private sector has been taking shape and is today more solid than ever, always open to new ideas and business not only in environment but in sources of founding, as Panama displays diverse options in capital raising, useful in the creation of new markets and business strategies.
A country with investment alternatives to relocate your company
About immigration to Panama, this is one of the friendliest countries to foreigners, its immigration law presents foreigners with the opportunity to gain permanent residency with a minimum 300.000 USD investment in various sectors such as:
- Real state.
- Exportation processing zones.
- Big business investments.
- Long term investments.
- Panama Pacifico special economic area.
To countries with strong currencies such as the euro and sterling pound, investing in Panama today opens new options of generating significant dividends, taking advantage of having a stronger currency in dollarized markets, in addition to its enormous potential in the productive sector, natural resources and a privileged location supported by the Panama Canal which expansion hasn’t stopped in this country free of hurricanes and earthquakes, real risks for any potential investor.
One of the opportunities that Panama provides are its special economic zones, which present tax incentives for companies in those zones, it’s also worth mentioning the duty-free zones Colon and Panama Pacifico, in the shores of both the Caribbean Sea and the Pacific Ocean. Colon being the second biggest duty-free zone in the world and the main commercial center for Latin America and the Caribbean.
Nonetheless every opportunity exhibits its own challenges, because of the criteria and requirements even the simple process of opening a bank account can take up to two months, and because of Panama being a Spanish speaking country this process must be completed entirely in Spanish, therefor it is recommended to have good in situ support in any business or investments.
A strong economy with continuous development together with a growing real-state sector, a privileged location strengthened through robust logistics and also a high quality of life make of Panama a country great to invest and live in, which added to the low interference of its government, create a safe and profitable place in which your money works for you, making of Panama the perfect country in which to create your own business.