Moving to Panama

Moving to Panama

(from our April Newsletter)

Taking the Plunge
Who succeeds in Panama and who might be better off somewhere else

Over the years, Panama Equity has had the opportunity to work with clients from all over the world. For them, the elusive and at times effervescent idea of Panama would come and go. It started with a magazine article here, a TV news feature there, with the idea of Panama that would keep reappearing until finally they would decide to come down and see for themselves. For some, the trip was closure, a revelation of sorts, a way to say “been there, done that.” Others never went back home.

So this month, I ask: What Can Panama Do for YOU? Personally, I came down here because I felt a calling. I kept hearing about all of the big things happening in this little country down in Central America and I decided that I just had to see it for myself. What was the draw? For me it was opportunity. I saw Panama as a fertile country to plant my entrepreneurial seeds and see what I could make of myself. The amount of untapped niches here – many of which we’re all familiar with at home – were astounding. In the course of my time, many others like me have come down to Panama over the last five years and are considered a part of the tremendous “boom” that we’ve been experiencing over that time, and there are thousands more that have yet to take that first step.

Every day is an adventure, and while Panama has a lot of the creature comforts I was used to back in the US, I still never forget that I am living in a foreign land in the tropics. Maybe it’s not having to set an alarm clock because the same group of birds start signing

to wake me up every morning. Maybe it’s looking into my closet and seeing literally ONE sweater (for the movie theatre). Or maybe it’s even the Diablo Rojo’s that make me fear for my life every time I merge onto Calle 50…Hard to tell. What I know is that every day that I wake up and hit the street and I know that I am down here making it happen in Panama. To me, that’s a big part of my adventure and my life.

Families: Panama has fantastic schools, safe neighborhoods, and affordable health care. What better environment to bring your kids up in than one where they are guaranteed to learn a second language and make friends from all over the world. The risk of taking a family down here is daunting: putting the kids into new schools, starting a new routine, learning a new language…but think about the possible rewards. I know that my kids are going to be bilingual from day one, and that they will live in an environment where they will learn and see first hand what it’s like to live without the $5,000 birthday parties and the social pressure to wear designer clothes and drive a flashy car. Raising children in Panama is as rewarding as it is unique.

Retirees: Retiring to Panama is certainly not the straightforward Florida migration we’ve seen in the states. While many of the benefits that made Florida competitive exist here in Panama, the current migration of retirees here tend to be more adventurous with interests in learning new cultures, outdoor activities, and being part of a pioneering wave.

Entrepreneurs: With Panama’s focus so long being the Panama Canal and its international banking district, a bevy of untapped business niches exist in Panama that are ripe for picking. Tourism and real estate-related establishments are the forerunners while up-and-coming industries such as transportation, energy, recreation, shopping, and education are desperate for foreign experts.
The Panamanian government continues to actively court foreign investment, both direct and indirect through a slew of new laws that make it easier to live and do business in Panama.
Panama wants you! Call me and we can talk about the first steps to making it happen for YOU in Panama.

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