Bridgemon International Realty Panama Property Investments
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  • August26th

    Insurance for tourists

    Posted in: News and Information

    The approved a measure to offer insurance to all tourists who enter Panama through Tocumen International . The new will provide tourists with up to $20,000 of coverage during the first 30 days of stay in the country. Panama is one of few countries in that provides this free to visitors.

    The insurance covers up to $20,000 in case of accidental death. It also covers medical expenses incurred resulting from an accident in Panama, illness contracted in Panama, medical transport, dental work, costs and legal assistance in the case of lost or stolen documents.

    Panama Authority (ATP) Shamah informed that the insurance will cost $2 per tourist and will be included in a tourist’s travel package

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  • August26th

    Common types of residency visas in Panama

    Posted in:

    In recent years the Republic of Panama has asserted itself on an international level as one of the best retirement locations world wide. This is due to several factors including:

    • Panama has a comfortable .
    • Panama has the US dollar as its currency.
    • Panama is a very large banking center.
    • Panama is free from major natural disasters.
    • Panama has modern medical facilities.

    In light of the current boom in Panama, the Ministry of Immigration and Naturalization has imposed new visas. Some of the visa processes have become more flexible in order to generate migratory stability for foreign retirees.

    Temporary Resident and Visas

    • Temporary work visas can be obtained for periods of one year to 6 years
    • Temporary residential visas for foreigners contracted as executives of the of Colon require the payment of a monthly salary of at least 2,000.00 USD.
    • Temporary Resident Visas for foreigners contracted for private businesses cannot have a salary less than 850.00 USD per month. No more than 10% of the workforce of private businesses can be foreigners.
    • Temporary resident visas for personnel contracted for businesses of virtue under the Marrakech Agreement require the payment of a monthly salary not less than 1,000.00 USD
    • Temporary Resident Visas for reasons of investment can be obtained for periods of 6 years and can be extended every 2 years.
    • Temporary Resident Visas for Agricultural require an investment of at least 60,000.00 USD into the Cattle or Agricultural Industry.
    • Temporary Resident Visas for Reforestation Investment requires an investment, in ones personal name, or by way of a corporation of at least 60,000 USD in activities related to reforestation projects approved by the Environmental (ANAM). The investment must be a minimum of at least 10 hectares.
    • Temporary Resident Visas for Regrouping Families can be solicited by conjugate foreigners, children under the age of 18 and parents of the temporary resident. For those who are of the ages 18-25, if they are involved in regular studies, and have economic dependence from the temporary resident.

    Permanent Residency Visas:

    To apply to the Permanent Resident Category it is required that a period of 2 years has passed with temporary resident status.

    • Permanent Resident Status via Reforestation Visa requires a minimum investment of 80,000 USD, by way of a corporation or personal title, in reforestation activities that are authorized by the National Environmental Agency (ANAM) , and are at least 20 HA in size.
    • Permanent Residency Visas as a Macro Business Investor requires a minimum investment of 160,000.00 per solicitor into a Macro-Business. In the case of dependents, there must be an increment of 2,000.00 per dependent. The business must maintain a minimum payroll with 5 Panamanian employees.
    • Permanent Resident Visas for Self-Economic Solvency require an investment of 300,000.00 USD maintained in a certificate of deposit (CD), property or a combination of both which shows that the funds were introduced from abroad.
      • Self-Economic Solvency by way of investment into real estate permits that the property can be in the name of a private foundation, proving that the solicitor is the founder y that he or his dependents are the beneficiaries. The certificate of the Public Registry should show the founder and the beneficiaries.
    • Permanent Resident Visas for Retirees or Pensioners can opt to receive a pension or retirement from a foreign , international organization or private enterprise. The pension or retirement cannot be less than 1,000.00 USD per month, nevertheless, if proof can be acquired that a property with title in personal name for at least 100,000.00, the amount of the pension or retirement can be reduced to 750.00 USD per month.
    • Permanent Resident Visas for Retired Rentiers require that a minimum monthly income of 2000.00 USD derived exclusively from a certificate of deposit (CD) from the National Bank of Panama or the Caja de Ahorros, free of liens for a period of 5 years. With the current interest rates the amount of the deposit would be approximately 610,000 USD.
      Permanent Resident Visas as a Retired Rentier can obtain the right to a special passport from the Republic of Panama.
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  • August26th

    Tourism up 6% in first five months of 2010

    Posted in: News and Information

    figures for the month of May indicate an increase in tourist arrivals to the country by 20.7 %. The Panama Authority () reports that the has grown at 6.3% during the first five months of 2010. During May, counting all the ports of entry to the country, some 105,801 visitors entered Panama, an increase of 18,119 compared to 2009.

    May was booming, showing greatest increase of tourists so far this year. The figures collected by Immigration, the Comptroller and the Authority show that 755,058 visitors have entered the country so far this year. The ports that contribute to this are (the Pan American border at Costa Rica), Cruise Ship Ports and the Tocumen Airport, among others.

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  • August26th

    Panama Medical Tourism

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    Panama has earned the title as the “Hong Kong” or “Dubai” of the Americas. This has mainly been due to its significantly lower cost of living and fully “Americanized” culture. Panama is slowly becoming one of the top medical tourism destinations, attracting US and Canadian health travelers. The reasons for this are: its proximity, excellent healthcare services, US trained and certified medical staff and its attractive natural beauty.

    Healthcare System in Panama

    Panama’s long association with the United States has left a distinct footprint in its culture, giving it more than a hundred years advantage over other countries in providing healthcare to patients using US standards of quality and . This can be seen in the similarities in facilities, medical procedures and practices, as well as the abundance of US trained and board certified doctors and medical staff.

    There is currently one hospital in Panama that is fully certified by the Joint Commissions International. However, all of the other top hospitals, most of which are privately owned, are fully certified by local medical accreditation bodies set by the Panamanian government as well as other non-government accreditation bodies.

    In addition, most of the top hospitals have affiliations and are duly recognized by international medical organizations such as the Johns Hopkins International, Baptist Health International of Miami, Cleveland Clinic, Tulane Health Science Center, Miami Children’s Hospital, University of Nebraska Medical Center, the Harvard Medical Faculty, the Kendall Medical Center and the Beth Israel Deaconess Medical Center among others.

    Top Hospitals in Panama for Medical Tourism

    Major hospitals in Panama have affiliations with prominent international medical institutions. This enables them to maintain a high quality level, not only in their facilities, but also in their procedures, methodology and as well. The most prominent among these Panamanian hospitals include:

    • Hospital Punta Pacifica
      This is the only Central American medical facility that is affiliated with the Johns Hopkins Medical International and maintains the same high-end standards in facilities, services and staff. It is also the only digitally connected hospital in the region and is the only hospital accredited by the Joint Commissions International.
    • Hospital Nacional

    Starting out as a 10-bed facility, the Hospital Nacional has grown over the years into an 80-bed private healthcare facility with over a hundred specialists and ultra-modern facilities.

    • Clinica Hospital San Fernando
      A private hospital affiliated with the Tulane University, Miami Children’s Hospital and the Baptist Health International Miami. The Hospital San Fernando is one of Panama’s largest hospitals, with 24-hour medical services and facilities that are fully equipped with state-of-the-art medical equipments.
    • Centro Medico Paitilla
      Located in Panama City, this 160-bed medical facility is affiliated with the Cleveland Clinic Foundation and has been in existence since 1975. It is also a certified training facility for the American Heart Association and was one of only two hospitals that provided healthcare services to US military personnel.

    Common Treatments done by Medical Tourists in Panama

    Hospitals and healthcare facilities in Panama offer a wide array of procedures and services for medical travelers, which include but are not limited to the following:

     

    Cost of Medical Treatment in Panama

    The following are cost comparisons between Medical procedures in Panama and equivalent procedures in the United States: [ sources 1 2 3 ]

      US Hospitals Panama Average Savings
    Medical Procedures      
    Angioplasty with stent $19,000 – $21,000 $10,000 – $15,000 25% – 47%
    Pace Maker $4,000 – $6,000 $1,500 – $2,300 50% – 60%
    Laparoscopic Hernia $6,000 – $8,000 $ 3,500 – $4,500 40% – 50%
    Laparoscopic Gastric Bypass $24,000 – $26,000 $14,000 – $16,000 35% – 40%
    Hip Replacement $19,000 – $21,000 $11,000 – $13,000 35% – 40%
    Arthroscopy $9,000 – $11,000 $4,000 – $6,000 45% – 55%
    Knee Replacement $19,000 – $21,000 $11,000 – $13,000 35% – 40%
    Herniated Disc $19,000 – $21,000 $6,000 – $7,000 65% – 70%
    Carpal Tunnel Release $6,000 – $8,000 $2,500 – $3,500 55% – 60%
    Plastic and Reconstructive Surgery      
    Neck Lift $10,000 – $12,000 $2,000 – $3,000 75% – 80%
    Face Lift (rhytidectomy) $10,000 – $12,000 $2,000 – $3,000 75% – 80%
    Breast Augmentation/Reduction (Mammoplasty) $5,500 – $8,000 $3,100 – $4,500 40% – 45%
    Breast Lift $5,000 – $6,000 $3,000 – $4,000 35% – 40%
    Liposuction (Lipoplasty) $4,000 – $6,500 $2,500 – $4,400 30% – 35%
    Nose Surgery (Rhinoplasty) $4,000 – $6,000 $1,500 – $2,500 55% – 65%
    Buttocks Augmentation $5,000 – $6,000 $3,500 – $4,500 25% – 30%
    Chemical Peel $900 – $1,100 $450 – $550 45% – 55%
    Obstetrics and Gynecology      
    Intrauterine Insemination $1,000 – $2,000 $800 – $900 20% – 55%
    In Vitro Fertilization $9,000 – $18,000 $4,000 – $6,000 55% – 70%
    In Vitro Fertilization with donated egg $16,000 – $20,000 $7,000 – $9,000 50% – 55%
    Eye / Ophthalmology      
    Cataract surgery $5,500 – $6,500 $2,000 – $3,000 50% – 60%
    Refractive surgery (Eximer Laser) $4,500 – $5,500 $1,500 – $2,500 55% – 60%
    Glaucoma surgery $5,500 – $6,500 $1,500 – $2,500 60% – 75%
    Refractive surgery with intraocular lens implant $5,500 – $6,500 $2,000 – $3,000 50% – 60%
    Eyelid Surgery (Blepharoplasty) $4,000 – $5,500 $1,500 – $2,500 60% – 65%
    General and Cosmetic Dentistry      
    Root Canal $900 – $1100 $250 – $350 70% – 75%
    Porcelain Crown $1,000 – $2,000 $450 – $550 55% – 75%
    Porcelain Veneers $1,000 – $2,000 $450 – $550 55% – 75%
    Composite Veneers $600 – $750 $150 – $250 45% – 70%
    Dental Implant $2,000 – $2,500 $900 – $1100 55% – 60%
    Periodontal Surgery $1,000 – $2,000 $450 – $550 55% – 75%
    Periodontal Plastic Surgery $1,000 – $2,000 $450 – $550 55% – 75%
    Periodontal Regenerative Procedures $1,200 – $1,600 $500 – $600 55% – 65%

    Malpractice and Liability Laws in Panama

    The Panamanian system has not adopted the US legalities associated with medical practices, particularly in the area of malpractice. Although doctors are responsible for their activities and performance under the law in this , they are not required to shoulder the damages incurred during a malpractice case. The result is a lower malpractice pre-requisite, which can be translated into lower procedural costs.

    Pros

    • Hospitals in Panama provide high quality health care through a large staff of US-trained doctors, physicians and other medical specialists
    • Techniques, medications, treatments and facilities used are based on the same standards used in the USA
    • Doctors and medical staff can communicate well in English
    • Panama City is considered Central America’s safest and most modern city. Even the tap water is safe to drink
    • Panama is relatively close to US and Canada.
    • The currency is the US dollar, so prices can be compared easily.

    Cons

    • There is only one JCI-accredited hospital in Panama, although a few have already submitted requests and are currently going through the accreditation process.
    • Costs of medical procedures are higher compared to other medical tourism destinations, although these are still significantly more economical as compared to the US, Canada and the UK.

    Traveling to Panama

    Direct flights to Panama City are available from major cities in the US and Canada. This close proximity and shorter travel time, makes Panama a destination choice for medical travelers.
    Average estimated travel time in hours

    From/To Panama
    New York City 5
    Los Angeles 7
    Miami 2.75
    Houston 4
    Dallas 4.5
    Washington 4.75
    Atlanta 4
    Toronto 5
    Vancouver 8

    and Exit Requirements to Panama

    USA and Canadian medical travelers with a valid passport that extends at least 6 months beyond the traveler’s intended last day of stay, do not need to get a visa to enter Panama. A card can be purchased upon arrival, allowing the recipient to stay for 90 days in the country.
    Other requirements include: return tickets, sufficient funds to shoulder the stay, confirmed accommodation and other targeted facilities. Panamanian immigration laws are very strict, so it is advisable to carry your passport with you at all times to your proof of entry and avoid any complications during your stay.

    Statistics of Medical Tourism in Panama

    Doctors have estimated that there are only hundreds of medical tourists hundreds of medical tourists from the United States visiting Panama per year. Some hospitals have declared that they have received at least 400 to 450 international patients within the last four years seeking various medical procedures.
    These figures will continue to grow, as Americans without health insurance continue to seek healthcare in nearby medical tourism destinations such as Panama. More and more baby boomers are contemplating retiring to this Latin American destination, as well as seeking healthcare services and beauty treatments at lower costs.

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  • August25th

    Visa & Residency Information

    Posted in:

    Visas

    Panama is now positioning itself as the “new Costa Rica.” It has put together the most appealing program of special benefits for foreign residents and retirees you’ll find anywhere in the world today.

    In fact, anyone over the age of 18 may apply and can qualify as a pensionado in Panama. All you need is a guaranteed pension income of only $500 per month ($600 per month for a couple). It must be a pension from a agency (Social Security, disability, or armed forces) or from a company.

    As a qualified pensionado/retiree in Panama, you will be entitled to:

    • 50% off entertainment anywhere in the (movies, theaters, concerts, sporting events)
    • 30% off bus, boat, and train fares
    • 25% off airline tickets
    • 50% off hotel stays from Monday through Thursday
    • 30% off hotel stays from Friday through Sunday
    • 25% off at restaurants
    • 15% off at fast-food restaurants
    • 15% off hospital bills (if no applies)
    • 10% off prescription medicines
    • 20% off medical consultations
    • 15% off dental and eye exams
    • 20% off professional and technical services
    • 50% closing costs for home loans and more…

    In addition, you are entitled to a one-time exemption of duties on the importation of household goods (up to $10,000) and an exemption every two years of duties for the importation or local purchase of a car. All this, and you can “retire” in Panama starting at age 18.

    Plus, Panama’s pensionado law stipulates that anyone entering the country as a qualified pensioner today is guaranteed that status as long as he chooses to in the country.

    The general rules:

    • All visa applications must be made through a Panamanian lawyer
    • There is no age limit required for applying for any of these visas, save for the minimum legal age of 18 years. Children under 18 will qualify for a visa as dependents of their parents
    • All overseas documents to be presented to the authorities in Panama must be authenticated by a notary and by the Panamanian consulate nearest you, or by a notary and the Apostille. The Apostille (The Hague Convention of 1961) is a faster way of authenticating documents and is normally obtained through the secretary of state in your home state (in the United States) or through the foreign office (in Britain). For Canada, please check with the Panamanian Embassy or consulate nearest to your home city
    • All documents must be fresh (within three months of visa application) and passports must have at least one to run
    • Dependents: Bring a marriage certificate. However, marriage certificates are not acceptable if over three months old, so you’ll need to request new ones. If your children under 18 are to be covered by your visa, you’ll need to bring new birth certificates (not originals)
    • None of these visas grants work permits
    • All visa applications require that you obtain a health certificate in Panama.

    The Pensioner Visa (Turista Pensionado)

    This visa is designed for people whose pension from a government entity or private corporation is $500 or more ($600 or more for a couple per month). It is granted indefinitely. The benefits include one-time exemption of duties for the importation of household goods (up to $10,000) and an exemption every two years of duties for the importation of a car (sales tax will still apply). However, please note that under this visa you cannot qualify to acquire Panamanian nationality.

    Private Income Retiree Visa (Rentista Retirado)

    This visa is for people who don’t have a monthly pension, are no longer working, and have received a retirement lump sum. As a visa requirement, that money is to be deposited on a five-year certificate of deposit with the Bank of Panama, to yield at least $750 a month (at current rates, the face value of the CD would need to be approximately $220,000). The visa is renewable every five years, as long as the CD is renewed. The Private Income Retiree Visa includes such benefits as a traveling Panamanian passport (that, however, does NOT grant nationality), a one-time exemption of duties for the importation of household goods (up to $10,000), and an exemption every two years of duties for the importation of a car.

    Person of Means Visa (Solvencia Económica Propia)

    Designed for those who wish to live in Panama off their own means, without the need to work or start a business. The person must have a two-year certificate of deposit in any local bank of at least $200,000. The visa is granted in two steps: First, a one-year provisional visa is granted, and then the process is repeated and the visa is approved permanently, with the right to a cedula (local identity card). Five years after obtaining the permanent visa, holders will be eligible to apply for Panamanian nationality.

    Investor Visa (Inversionista)

    Designed for those who wish to establish a business in Panama (note, though, that some retail businesses and some professions are reserved to Panamanians). There must be a minimum investment of $150,000 and a minimum of three permanent Panamanian employees hired. It is granted provisionally for one year and, after renewal, is granted permanently with the right to be issued a cedula. Five years after obtaining the permanent visa, holders will be eligible to apply for Panamanian nationality.

    Forestry Investor Visa (Inversionista Forestal)

    Note: Although currently suspended, this visa is being revised to be brought back.

    Designed for those who wish to make long-term investments in reforestation and take advantage of tax breaks. There must be a minimum investment of $40,000 into a duly accredited reforestation company. This investment must be kept until final harvest (approximately 20 years). This visa is granted provisionally for one year and, after renewal, it is granted permanently with the right to be issued a cedula. Five years after obtaining the permanent visa, holders will be eligible to apply for Panamanian nationality.

    Small Business Investor Visa (Inversionista de Pequeña Empresa)

    Designed for those who wish to establish a small business in Panama (note that some retail businesses and some professions are reserved to Panamanians). There must be a minimum investment of $40,00 and a minimum of three permanent Panamanian employees hired. It is granted provisionally for one year, and needs to be renewed three more times before it is granted permanently with the right to a cedula. Five years after obtaining the permanent visa, holders will be eligible to obtain Panamanian nationality.

    Residency

    Panama has one of the easiest and most affordable residency programs in the world.

    The visa process for the pensionado program in Panama is also very simple. It’s a one-time application. There are no renewals and no additional fees. Other residency programs require you to file a renewal each year. This involves time, hassle, and additional fees. In Panama, you can apply today for no more than a few thousand dollars and have residency for life. Your takes only a month. It’s fast. It’s affordable. It’s easy.

    Panama is truly one of the best–if not the best–residency deal in the world today. For the tiny price, the benefits are incomparable. And it is an extraordinary opportunity…

    The Panama pensionado program will not net you a passport, however. But it will grant you residency rights for life. If you want or need a Panamanian passport for tax or other reasons, don’t worry. There are many other programs you may qualify for.

    For instance, with as little as a $10,000 investment, you can start up your own business, and within nine years, be granted a Panamanian passport. Or you can invest $40,000 in a government-approved–and potentially very lucrative–reforestation project. These are just some of the additional ways in which you can qualify to live, retire, or do business in Panama.

    Rainelda Mata-Kelly, our recommended lawyer in Panama, will tell you more. Rainelda holds a master’s degree of law from Cornell University and founded the London office of a Panamanian law firm in 1983. In 1991, she became a Miami correspondent for La Prensa, the Panamanian newspaper, and then went on to be that paper’s executive editor. Since 1989, she has been engaged in her own practice, specializing in commercial and shipping law. Rainelda represents both Panamanian and foreign clients.

    Below, Rainelda details the requirements and features of the most popular programs available in Panama right now…

    Where and When

    * You need to to Panama in order to obtain your visa. You need to be present for the filing of the application. For most visas, you receive an interim card for three months, and within that time, the visa should be issued (sometimes it takes four months). For the Tourist Pensioner Visa, however, there is no interim card and your permanent visa should be issued about three to four weeks after filing. You need to be in Panama when the visa is issued, and you should preferably be in Panama from the filing of the application to the issuance of the visa. If you decide to outside Panama during that interval, you need a multiple- permit, which costs $75 per person.

    * If you obtain a visa to reside in Panama, but you wish to live overseas, we recommend that you make plans to visit Panama at least once a year (legally you may be away up to two years). In any case, you must obtain a multiple entry permit valid for up to two years before leaving and must never let it expire while overseas.

    * Once you obtain a visa in Panama, even if you decide to live here permanently but you wish to travel often or unexpectedly, we recommend obtaining a multiple-entry permit.

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  • August25th

    Incorporating Services

    Posted in:

    NOLAIM CORPORATION Inc. is a Panamanian Corporation specialising in the legal and banking . NOLAIM counts more than 500 satisfied clients in Europe and Latin America. The firm is owned and managed by Jean Luc Molina a French lawyer who specializes in corporate finance and banking.

    NOLAIM CORP can offer a choice of tailormade services of the highest quality at reasonable prices.

    Corporation: incorporation, share certificate, bank account opening (on line banking), first tax, agent fee, registration taxes, incorporation certificate, notary fees, lawyer fees: $1300

    Optional:

    • Panamanian board member $200 for each;
    • apostillation: $30 for each document;
    • VISA debit card: $150;
    • Documentation mailing: Fed-ex fee
    • English translation: $60
    • Incorporation in English: $80 notary fee

    Yearly fees:

    • Agent: $150
    • Board member (if applicable): $200 each
    • Annual tax: $300

    Other services are also available to suit the clients’ needs.

    You can contact Jean Luc Molina:

    : +507 66 76 98 73

    email: molina_jl@bridgemon.com

    Ave. Samuel Lewis y Calle 53,
    Edificio Omega 5to piso,
    Panama,
    Republic de Panama

    mailing:

    NOLAIM CORPORATION Inc., PTY 16076,
    P.O. Box 025724,
    Miami, FL, 33102-5724

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  • August25th

    Mortgages

    Posted in:

    The Federal Mortgage Centre, Inc. is a company that provides financial
    services to foreign and nationals who are in the process to obtained
    properties or already purchase the property in Panama.

    Specifically in arranging mortgages through local banks, Federal Mortgage
    Centre, Inc. will provide due diligence for our clients at the highest
    level in compliance with all laws and regulations of Panama.

    We look forward to provide our customers the best opportunity to get their
    mortgage loan with serious and prestigious banks, with the best rates in
    the financing market, and the shortest possible time.

    To complement our services we also provide to get life and fire
    , opening banks accounts, financial advisory,
    consultation and legal services.

    Will be a pleasure for us to provide our services.

    Contact information:
    Federal Mortgage Centre, Inc.
    Balboa Ave. P.H. Bay Mall
    3rd Floor Ofic. #308
    Office: 507 209-5007/5008
    Fax: 507 209-5049
    Mobile: 507 6550-2423 / 6550-3940
    Skype: federico.loans
    Email: info@loanpanama.com, roman@loanpanama.com, federico@loanpanama.com
    Visit us: www.loanpanama.com

    Home Financing Specialist
    Scotiabank Panama – Personal Banking
    ph: (507) 315-6700  cell (507) 6671-5031
    email:telva.chang@scotiabank.com

    Click Here to see requirements

    ___________________________________________________________________

    LOAN REQUIREMENTS FOREIGNERS

    Home Mortgage Loans

    Juan Gabriel Alain, Tel:(507) 210-7661 Fax: (507) 210-4007

    email: juan.g.alain@hsbc.com.pa

    Requirements:

    People earning a salary

    Original Job letter, Copy of Passport, Copy of the latest two payroll receipts

    Last (2) Income Tax Returns ’04 and the ‘05, Signed and Completed Application Form (provided by HSBC)

    (2) bank reference letters (credit references preferably)

    Authorization to check credit references

    SELF-EMPLOYED

    Copy of Passport, Last (2) Income Tax Returns ’04 and the ‘05, Signed and Completed Application Form (provided by HSBC)

    (2) bank reference letters (credit references preferably)

    Authorization to check credit references

    **Note: No need to present Bank references if you live on the United Status, also please attach :

    - Copy of the last (2) Income Tax Returns ’04 and the ‘05 (Earning a Salary and Self-Employed)

    - Copy of the last (2) W-2 Forms ’04 and the ’05 (Earning a Salary)

    IMPORTANT NOTE: A life insurance must be taken out for the amount of the loan.  This can be included in the mortgage payment if you are under the age of 65.  A medical exam be required to be taken in Panama depending on your age and the amount you borrow.  If not taken with the bank, a life insurance must be endorsed to the bank by a Panamanian insurance company.

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  • July1st

    Newsletter June/ July 2010

    Posted in: Brisas Updates

    PANAMA LATEST NEWS

    Panama: The Best Place to Do in Latin America
    According to the Latin Business Chronicle’s annual Latin Business Index (released this week), Panama is the number one in the region for doing business. Last year, Panama just barely missed nabbing the number one spot on the index—it went to Chile, which swapped places with Panama to rank second this year.With Panama and Chile attaining scores of 17.63 and 17.61, respectively, Uruguay rounded out the top three this year with a of 16.3. Venezuela retained the dubious distinction of worst business climate in Latin America with a of 1.4 (second-worst , Haiti, has a much higher score of 7.8).

    Panama gained the top spot thanks to improvements in a variety of categories, including: doing business, economic freedom, and technology. The improvements helped offset Panama’s lower score compared to last year.

    The index covers 19 countries and is the broadest measure of business climate in Latin America. The index considers data beyond GDP, taking into account considerations such as political freedom, ease of starting a business and corporate tax rates. In the globalization and competitiveness category, for example, Panama moved up from second place last year to knock Costa Rica out of the top spot.

    A recent article detailing the report says: “Panama is now the only country that is among the top five in all our five main categories.” In addition to this ranking, Panama continues to be the most globalized country in the region, as per the ’s Latin Globalization Index.

    This year, Panama also moved up six spots on The World Bank’s Doing Business to 77th place worldwide. Panama ranked number one in the Latin America/Caribbean region in the ’s Trading Across Borders category, and number three in the Getting Credit and Starting a Business categories. Per the World Bank, Panama made progr ess in property registration and construction permit transactions. “A smart move, since much of Panama’s recent growth and expected future growth will come from real estate and construction,” says the Latin Business Chronicle.

    Factors contributing to economic growth in Panama include the $5.2 billion Panama Canal expansion mega-project and Panama’s fast-growing shipping sector. Panama Pacifico, one of the largest real estate projects in the world today, is luring multinationals like Dell and Caterpillar into setting up regional headquarters in Panama. The tiny Central American nation also boasts the City of Knowledge, where such as UNICEF have regional headquarters, as well as the world’s top shipping registry, the world’s second-largest free (after Hong Kong), and the region’s largest international banking district.

    Some experts cited in the Latin Business Chronicle report say the differences between Chile and Panama are too small to weigh against the South American powerhouse.

    According to an expert from the College of Business Administration at Florida International University, investors should consider all countries with a score of 14 or higher on the index.

    CONSTRUCTION UPDATE

    In the past few months 2 buildings were completed and a road was built to allow comfortable access, the buildings are now open for business and are attracting a steady flow of interest.

    Immobiliare has hired a very experienced Hospitality Manager to overlook Brisas. He will be liaising with Wyndham on a daily basis and will be responsible for the smooth running of all the rental properties.

    Alfredo is delighted to join a solid and established company and very excited to share with us is extensive and varied experience. We asked him for a short resume of his past activities:

    “I have been involved in Hotels and Tourism for the last 25 years, starting with Hilton International and later gaining more client’s hands on experience through several tour operator companies in Israel, Africa and the Americas. I have lived in Panama for the last 4 years and directed the opening of Playa Blanca Hotel and Resort as well as opening and managing the early months of the Radisson Colon 2000 Hotel and Casino. In the last year, I was retained as a consultant by the Veneto Hotel and Casino (also under Wyndham flag) and was instrumental in the cosmetic and operational enhancement of this popular hotel in Panama City. I have seen a lot of hotel projects around the world and I must say that Brisas surpass them all by its unique position and breathtaking views. As each building is completed our inventory grows and delighted renters discover the beauty of Panama from this unique and luxurious vantage point.”

    Thank you for your continued interest in Brisas, we will send you a new update in July/August and share with you any news regarding BRISAS and Panama.

     

    Hasta Luego ! 

    		  
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  • June19th

    Overview

    Posted in:

    Overview

    Bridgemon first came to Panama in July 2006. The Panama  property boom was close and  soon followed mostly triggered by the confirmation of the and Donald Trump’s ambitious and now without any doubt successful Trump Ocean Club project.  A lot of people became developers overnight. All it  took was money to feed a bottomless marketing budget and empty promises…

    Bridgemon spent months sifting through the good , the bad and the outright ugly.

    Our web site could list a few hundred developments just for the sake of showing a lot of traffic but we have decided to stick with what and who we know .We have followed all developments since pre stage andthe developments we are listing are  built or are showing at least two phases built. We have known all 3 developers for at least three years and we like and respect them.

     We follow and assist our clients all the way to closing and never shy away from problems.

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