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Panama is
characterized by its
biodiversity, its system of protected areas, social stability, high education
levels and efficient infrastructure and services. The combination of incredible
natural beauty and the hospitality of the inhabitants make this country one of
the most sought after destinations for international property acquisition.
Strategic geographic location, a government that promotes foreign investment,
an existing first class infrastructure, access to international markets, the
high quality and low cost of its labor force and use of the US dollar all make
Panama an ideal place to live and invest.
This beautiful country combines remote, pristine wilderness, the accessibility
of two ocean coastlines, and countless types of wildlife and other natural
resources with the convenience and quality of a first-class metropolitan
lifestyle.
Official Name:
Republic of Panama
Capital:
Panama City
Nationality:
Panamanian
Area, Population and Density:
48,591 square miles; 3,191,319 (July 2006)
Age Distribution (%):
0-14 years 37.0%, 15-59 years 56.3%, 60+ years 6.7%
Government:
Constitutional Democracy, Centralized Republic.
Political Division:
9 Provinces and 1 Comarca.
Legal System:
Based on the civilian legal system, judicial revision of legislative acts in
the Supreme Court. Accepting international tribunal jurisdiction, except in
some instances.
Language:
The official language is Spanish. However, many Panamanians speak both
Spanish and English.
Weather:
Panamanian weather is pleasantly tropical, and uniform throughout the year.
Nights are usually cool. The average temperature is 27 degrees Centigrade. Panama has two
weather seasons: rainy and dry. The former stretches from March to December.
Religion:
There is an absolute freedom of religion in Panama. Most
Panamanians are Roman
Catholics. However, due to the diversity in our country, you can find all kinds
of temples of worship throughout the country.
Time Zone:
The time in Panama
all year
long is the same as the EST (GMT-5) Panama does
not observe Daylight
Saving Time. Panama City
is one the world's least expensive first-world cities. It is also among the
most modern and prosperous cities in Latin America
with over one million people. The city's skyline is constructed with tall
skyscrapers that are very reminiscent of Miami,
San
Francisco and New
York. Panama
City also
boasts incredible shopping with many name brand products from the
United States
and Europe.
Some of the other things that Panama has to
offer:
- First
Class, cost effective Healthcare
- World
Class private banking
- Excellent
business opportunities
- Pleasant
year-round climate
- First
World
infrastructure and
communications
- Despite
having one of the highest standards of living
in Latin America, buying
power is greater in Panama
than in the United States,
Europe and Canada.
- Foreign
residents will find their daily expenses to be
significantly less than in comparison to their home country.
Shopping in Panama
is amazing! Whether you are looking for a major department store or a
specialized boutique, you are guaranteed to find what you are searching for. Panama boasts
some of the largest and most diverse shopping malls in the region. Supermarkets
are very clean, well organized and stocked with all your local, US, Canadian
and European favorites. Panama
is also a paradise for those who love good restaurants. Here you can find all
types of food that pay tribute to the world's finest kitchens, some of the with
world renowned chefs.
One review describes Panama
City as the "Hong
Kong of the Americas".
The Panama Canal:
Truly one of the greatest engineering feats of all time, the Canal is an
absolute must see while in Panama.
Extending 80 kilometers in length and connecting the Atlantic
to the Pacific, the Canal grants passage to all types of vessels from sail
boats to the most sophisticated Cruise and Cargo ships known to man.
The canal was designed at the turn of the century and has been operating since
1914. Even by today's standards it is awesome to see a container ship gliding
through the massive locks and past the rain forest.
The Panama
Canal has 3 sets of locks
that
raise and lower the ships 54 feet to the next stage in their journey. These
locks are known as Mira Flores, Pedro Miguel, and Gatun on the Atlantic side.
Interesting Facts:
- The
cargo ship Ancon was the first vessel to transit
the Canal on August 15, 1914.
- A boat
traveling from New
York
to San
Francisco saves 7872 miles by
using
the Panama Canal instead of going around Cape Horns.
- A ship
takes approximately 8 to 10 hours to pass
through the Canal.
- The
lowest toll paid was $0.36 and was paid by Richard
Hamlliburton who crossed the canal swimming in 1928.
- The
Hydrofoil Pegasus of the United States Army
did the fasted transit of the Canal by completing it in 2 hours and 41
minutes.
- Each
door of the locks weighs 750tons.
- The work
force of the Panama Canal Commission is made
up of approximately 9,000 US and Panamanian Citizens.
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