The Republic of Panama is a country located on the Isthmus of Panama, which is a bridge between North and South America. Few centuries ago Panama was one of the many colonies of the Spanish Empire that served as a place of trafficking Incas gold to Europe, attracting pirates and slave traders from all over the world to this region.
With the decline of the Spanish Empire, Panama lost its weight, and in 1821 the country declared its independence from Spain. Until 1903 Panama was a part of Gran Colombia of Simon Bolivar. The country's economy was backward, but freights transit through Panama increased interest to this country among businessmen, especially in 1850, after the discovery of gold in California. Soon the railroad was built there. And in 1879, a French company began construction of the famous Panama Canal, through which Panama has become world famous. Construction of the Canal, which eventually connected the Pacific and the Atlantic oceans, and thus facilitated and shortened the way for the merchant ships, was completed in 1914 by the United States. The US controlled the Canal and the area around it throughout the 20 th century, which in its turn associated Panama with this North American country and made it dependent on it.

The economy of Panama is oriented mainly to the maintenance of international transit and is based on exploitation of the Panama Canal, as well as banking, insurance, registration of ships under the flag of the country. And the other branch is tourism. These sectors comprise about two-thirds of the Panamas GDP about two thirds of employees work in these spheres.
It all began in the 1950's, when the government of Panama started to expand the scope of its services and a free trade zone in the port city of Colon was created. Foreign citizens and companies can use there    duty-free warehouses for transit goods, as well as to purchase goods from everywhere in the world at low costs and excluding tax. By early 1980's, Colon has become one of the largest free trade zones, second after Hong Kong and became the second most important source of income for Panama. Here, more than 350 companies are engaged in entrepreneurial activity, mostly North American countries. Due to a new package of laws on banking activity adopted in 1970, Panama has become the sixth largest world financial center with a stable economy and effective banking system. In addition in Panama there is a high level of medical care in Panama, as well as high education level, low drug prices, affordable insurance system, low criminal rate, low cost of living though decent standard of living.
Of course, all the above mentioned attracts a lot of people wanting to do business, invest and buy property in Panama. The real estate market in Panama first of all characterized by: stability, profitability, self-sufficiency, protection of the rights of all investors, and exemption from property tax for 10 - 20 years.
But despite all these facts, the Panamanian economy is heavily dependent on the US, because the government used to take large loans in this country as to fund its internal programs. Furthermore, the main currency of the country - is the US dollar and finances of the country entirely depend on it, which makes its economy highly vulnerable to financial pressures of the United States. Also many commercial banks are controlled by foreign banks.

Tourism in Panama is one of major industries and significant items of revenue. The Panamanian government pays great attention to the development of tourism and gives a full support to this kind of business. Various government tourism support programs and tax facilities promote the dynamic growth of the tourism industry. Over the past six years, flow of tourists to Panama has more than doubled and revenue associated with tourism services has increased threefold.
And it is not a surprise, as Panama is one of the most amazing countries in Latin America, which has evolved over the past ten years into this paradise, where miraculously was preserved a unique national character, conveniently combined with all the achievements of modern urbanization. Here we feel the breath of history in every detail, everything is filled with a spirit of colonial times, but at the same time, everything possible has been done for the development of various types of tourism from holiday retreatment and diving on both coasts to jungle tours and whale tourism.
You can enjoy all the magnificence of this incredible country almost all the year round, as in this paradise of the world you will face a tropical sea climate where an average annual air temperature ranges from +24 to +28 degrees, and sea water temperature is kept at 24 degrees above zero.

Panama – is a country of great opportunities for recreation and income. It joined recently the international real estate market and soon has won the hearts of investors. An increasing number of our compatriots preferred real estate in Panama!

This fascinating country offers a lot of interesting options for buying, selling and renting, both affordable and exclusive. It is possible to buy practically every type of property in Panama: apartments, villas, land, commercial property, hotels, islands, agricultural options and much more.

What do you need to buy a property in Panama?

1. Make a right choice with the help of professional advisers and personally inspect the selected option.
2. You should make a deposit and sign a preliminary contract, clearly stating all terms of  transaction. In case of termination of the contract, all money will be returned.
3. You need to complete the transaction and sign the final contract. This procedure can be performed by trustee buyer.
In case of purchasing the first hand property, the first payment is 10% of total amount, and if acquiring second hand - a buyer makes only a guarantee. If the money is invested in second hand, the seller must pay the local tax of 2% from its value and obtain permeation in public bodies.

To become an owner, the buyer must make an act of buying property that is a sale contract or a purchase agreement certified by the notary.

Panama is well suited for the Russians in terms of profitable investments and permanent residence. Firstly, as well as Russia, Panama is a multinational country.  Secondly, local people of Panama are very tolerant and friendly with all foreigners. So Panama can really become your second home!