Panama is a great place for a holiday!

You can fly into Panama City and from there take internal flights or buses to wherever you want to be. And where is that you might ask? have an amazing choice. Firstly you could check out the incredible cosmopolitan exciting Panama City itself with all its museums, art galleries, historical buildings, parks and of course the famous Panama Canal.

After maybe a few days on one of the beautiful Pearl Islands opposite the city you could fly down to the Caribbean coast and the islands of Bocas del Toro and chill out on white sandy beaches, explore its miryad of islands by boat, surf the breakers, go deep sea fishing, watch sloaths in the wild or be one your self and drink beer in a bar for 40 cents while watching the world go by!

Alternatively you could have a cooler climate for your vacation and go bird watching in Boquete

Cable slide in Panama rainforest
or go and expolore the rainforests, fly above the forest canopy suspended by ropes, canoe down rivers, walk up the side of the Baru volcano or visit a coffee estate.

On your travels you can stay in hotels from $10 a night to $250 a night, B&Bs or rental holiday homes and go to restaurants serving local fare or cuisine from Thailand, China, Mexico, France, Peru, Argentina, Italy or Japan.

Whatever you do, Panama, just 2 hours 40 minutes flight from Miami, is a wonderful place for a vacation of a lifetime! See you there…

Travel to Panama, you will love it!

Places to See in Panama

You all know about the Panama Canal but what about visiting the Baru Volcano and the coffee plantations or seeing the old fort at Portobelo and watery resting place of Sir Francis Drake or seeing the fabulous coral gardens off the old ‘devil’s island’, the Island of Coiba? For more go to
Places to Visit

Islands and Beaches in Panama

Panama has literally thousands of islands and hundreds of fabulous white sand, palm fringed beaches. To find out where the best ones are go to
Islands and Beaches

Try Panama for a Vacation

Panama has so much to offer for a holiday: a vibrant capital city, fascinating history, wonderful beaches and water sports and warm weather all year round! For more go to
Panama Vacation

Looking for Somewhere to Stay in Panama?

Panama has all kinds of hotels from large all inclusive resorts to luxury city hotels, cheap local B&Bs or boutique hotels on its own private island. For a list of hotels go to
Hotels in Panama

Visas for Panama

For information on visas for visiting and living in Panama including retirement visas go to
Panama
Visas

For more on airlines, airports, buses, trains, car hire, taxis and
staying safe on your travels in Panama read on…….

While Panama is known mostly for its famous canal and the Panama hat, incredibly the best things it has to offer are largely unknown. This beautiful country has cool mountains, palm-fringed beaches, desert islands and modern cities and offers some of the finest birding, fishing, snorkeling and hiking in the Americas. It also has warm weather, great food, friendly people and cheap pina coladas! So pack that travel bag and let’s go!

Panama has astounding wildlife – boasting an incredible diversity of tropical birds (929 to be exact!) and unusual animals (sloths, anteaters, white-throated capuchins, mantled howlers, night monkeys and endangered species such as rufous-naped tamarins, and black-handed spider monkeys – as well as proud, vibrant, indigenous peoples, such as the Kuna, Embera and Wounan making up 5% of the population.

With its low cost of living and with so much to offer it is the place to travel to and discover this year!

Once you have been to Panama you’ll probably never want to go back home! In how many countries in the world can you see the sun rise and set on the same beach or swimin two tropical oceans in one day, stay on your own Private Island or wake up to local coffee and songbirds on a highland plantation?

In Panama you can go white water rafting today and sea kayaking tomorrow, you can hike through the cloud forest with quetzals or witness a giant leatherback lay her eggs. You can SCUBA dive pirate ships and train wrecks and snorkel some of the oldest reefs in the Caribbean. Or try going fishing in Panama and catch world-record sized sailfish and tarpon or catch bass on a fly or go out on the town and experience some of hottest club acts in the Caribbean.

Airlines

Airlines – International

There are many companies that fly to Panama. However if you want good deals from the US try Spirit Air from Fort Lauderdale. For those visiting west Panama i.e. Bocas Del Toro or Chiriqui province, you can fly to Costa Rica and then fly to David, Panama. Because of high volume, airfares are much cheaper to Costa Rica and with some research you can find flights to San Jose for as little as $200.00. From San Jose you can take bus (around $30) to David.

Try using Expedia.com or Vayama.com to find a cheap fare. And remember it will be cheaper if you fly Monday-Thursday.

Airlines – Domestic

Panama has a number of airlines and they fly all over the place at reasonable prices. Air panama and Aeroperlas are $185 to Bocas Del Toro and round trip flights to the San Blas Islands for $97 for example.For internal flights go to: http://www.aeroperlas.com/ http://www.flyairpanama.com/ http://www.tacaregional.com/

For an International Directory with flights
heck out vacationdirectsite.com

too. It is affiliated with the top travel agents in the world. You can find the perfect vacation, cruise, hotel, flight, carrentals and much more, all in one place to compareand save.

Booking Flights to Panama

Panama City Airport

Tocumen International Airport (PTY)

Location: The airport lies 17 miles (27km) from Panama City. Time: GMT -5. Contacts: Tel: +507 238 2700.

Transfer to the city: The only public transport into Panama City is provided by minivans dubbed ‘Taxi de Turismo’, which can be booked from the Information Booth in the arrivals hall. The fare is US$15, and transfer time is about half an hour. Regular taxis also operate day and night at fixed prices depending on the number of passengers, but are not metered. The taxi rank is outside the arrivals area.

Car rental: Car hire companies represented in the arrivals hall are Alamo, Avis, Barriga, Budget, Dollar, Hertz, National and Thrifty.

Facilities: There is a bank and ATM on the departure level. A restaurant and coffee bar are situated on the mezzanine overlooking departures, and snack bars in arrivals. Last-minute gifts can be bought at several stores on the first and second floors, including duty free. Baggage storage is available, and information booths are located in arrivals.

Parking: Open-air parking is available in front of the terminal.

Departure Tax: US$20.

Website: www.tocumenpanama.aero

Buses

Traveling by bus in Panama is efficient and affordable, with virtually every part of the country accessible. All buses in Panama City depart from the Albrook Bus Terminal, which is located just outside downtown city – a short 5 minute taxi ride. The standard taxi fare from Panama City to this airport is between $1.25 – $1.75, depending on where you depart.

International Buses

Two bus companies offer international bus service between Panama and Costa Rica – Panaline and Tica Bus. The trip between Panama City and San Jose, Costa Rica takes approx. 16 hours, with one-way tickets costing $25.00.Buses to David & Colon from Panama CityLarge, comfortable, air-conditioned buses service the cities of David and Colon. Buses to David depart 24 hrs/day. Daytime trips normally take approx. 6-7 hours, however, the express buses that depart during the evening hours can complete the trip in as little as 5 hours.

Express and local buses to Colon depart regularly everyday. Express buses depart Panama every 30 minutes between 4:40 a.m. – 10:30 p.m. and cost $2.50 each way – the trip takes approximately 1.5 hours. Local buses depart between the hours of 3:50 a.m. – 11:30 p.m. and cost $1.80 one way – the trip takes about 2 – 2.5 hours.

Buses to the Interior

The medium sized, mini-buses that service the country’s interior, i.e. Santiago, Chitré, Las Tablas, etc., are comfortable, normally air conditioned, and depart regularly throughout the day at set times.

Overnight bus service from Panama City to Bocas del Toro is also available. Buses depart Panama at 8:00 p.m., arriving Almirante at 6:00 a.m. (adults $23.00 one-way) and Changuinola at 7:00 a.m. (adults $24.00 one-way).

Local Buses in Panama City

In and around Panama City most of the buses is service are the old, school bus style that lack air conditioning, however, some of the more heavily traveled routes do use more comfortable, air conditioned buses. Public buses, including those that go to Tocumen International Airport, cost $0.25 – the air conditioned express buses to the airport cost $0.75.

Railway

 The Panama Canal Railway, a 47.6-mile transcontinental railroad operating parallel to the Panama Canal, offers passenger service between Panama City and Colon Monday – Friday. The train departs Panama City from Corozal at 7:15 a.m. and returns from Colon at 5:15 p.m., with the trip lasting approximately one hour. Tickets cost $22.00 one-way and $38.00 round-trip. You can’t reserve seats in the tourist car, which has a glass ceiling, however, if you arrive early you should be able to obtain tickets without too much difficulty – so arrive early. The standard taxi fare from Panama City to Corozal is approx. $5.00 one way.

While in Panama City travel the historic Panama Canal Railway, the original and world’s first trans-continental railway. Inaugurated in 1855, it was built for the California 49ers for their quest for fortune during the Gold Rush. The trip takes you in special luxury observation cars across the scenic Isthmus from Panama City on the Pacific, to Colon on the Atlantic Ocean in about 90 minutes. Along the way, enjoy views of the Panama Canal and lush rainforest surroundings. (Tel: +507-317-6070)

Car Rental

Avis, Budget, Dollar, Thrifty etc. are all here offering car rental services. Cars can be picked up from the airport or delivered to your hotel.

Taxis in Panama

Taxi’s throughout Panama are plentiful, and can be easily recognized by their numbered markings; however, they come in all size, shapes and colors. All fares are based on zones or areas, and not determined by meters – cab drivers are required to carry a copy of the zone chart with them at all times.

Most fares within the metropolitan area average between B/.1.00-B/.1.50, and for each addition person there is a B/.0.25 surcharge.

Trips from Panama City to Tocumen International Airport cost approx. B/.15.00 per person, with each additional person paying B/.5.00. The standard hourly rate for taxi rental is B/.8.00, however, that can vary depending on the type of service you are requesting, so establish a price before departing.

Staying Safe on your Journey

The US government warns U.S. citizens not to travel to Darien Province. Embassy personnel are only allowed to travel to Darien Province on official business with prior approval of the Embassy’s Regional Security Officer.

Titled Property and Right of Possession Property in Panama

Thanks to Business Panama for this information on Property Law. They provide legal and business consultancy to foreigners investing in Panama.

It is important to understand the law regarding real estate ownership in the Republic of Panama if you intend to puchase a home, invest in land for reforestation or acquire a beach-front property for development

No matter for what purpose the land or house is being purchased it is important to learn as much as possible regarding the property, including but not limited to limits and boundaries, its encumbrances, registered value, official blueprints, tax burdens and others. For this you need a good lawyer.

There are different ways to obtain property in the Republic of Panama. In this article, we will consider the two most common alternatives found by foreigners looking to invest in land in the Republic of Panama. First, we will review the purchase of a titled property, which is applicable to land duly recorded and titled in the Public Registry. Next, we will examine the purchase of a “Right of Possession” and the implications of the same. This last acquisition methodis common to land located in historically protected areas, such as the tropical paradises of “Bocas del Toro” in the northernmost province of Bocas del Toro and “Portobelo” located in the Province of Colon, in the Atlantic side of the Isthmus.

Titled Property Law

Panama is blessed with clear property law and one of the most reliable Public Registry systems in the region. The Public Registry Office keeps record of all titled properties in all nine provinces of the Republic of Panama. Information regarding titled properties is readily available through the Public Registry and thus it is fairly simple to undertake a preliminary due diligence on a lot or property.

Persons interested in acquiring titled property must follow these steps in order to successfully undertake and minimize the risk of their transaction.

1. Perform a complete due diligence of the property: This procedure includes a complete title search, review of cadastral maps, verification of tax good standing of the land, verification of good standing in utility bills (water and sewage, electricity, telephone, etc.), as well as verification of any other special characteristic, limitation of the property, liens or encumbrances over the property.

A professional surveyor should perform a physical inspection with the approved blueprints to verify the map points, measurements and boundaries to avoid future land conflicts.

2. Prepare a Promise to Purchase Agreement: This agreement is to secure the property, through a down payment is 10% to 20%, of the total purchase price, generally in order to have enough time to properly execute the due diligence regarding the property, obtain financing and arrange details to complete the transaction. Parties agree on a purchase price, term of the agreement and penalties if one of the parties does not comply with the contract. This agreement shall be duly recorded in the Public Registry in order to affect third parties and to ensure the property is not sold to another person.

3. Prepare a Purchase and Sale Agreement: When the term of the contract is due and the final balance is paid to the seller, it is time to prepare the final sale contract. The seller shall process the Property Transfer Tax and the Capital Gains Tax, obtain a good standing property certificate as well as a good standing water and sewage certificate. The buyer will pay for notaries and registration expenses of this agreement. It is important to include an indemnification clause in the event of hidden defects of the property.

4. Ownership of the real estate property: Once the public deed containing such an annotation is duly registered, title transfer has been completed. Generally, payment is not delivered to the owner until the proper transfer of ownership is undertaken, while in others, the parties agree to appointing an escrow agent (lawyer or banker) who receives the funds under an escrow agreement which states that payment will be made immediately upon presentation of the deed of transfer of ownership of the property, duly recorded at the Public Registry Office.

These types of investments are the ones that benefit the most from the purchase of title insurance, which is very traditional and popular in the United States of America. Title insurance has been well received in Panama since it provides assurance of the investment on both the land and the improvements to be made on the same. General Panamanian property law allows for both nationals and foreigners to purchase titled property in Panama.

“Possession Rights” Property Law

According to property law in Panama not all properties in the Republic of Panama are of private domain and are subject to registry in the Public Registry Office. Many beach front properties, islands and real estate located within special tourism zones are owned and managed by the Government and only “possession rights” are granted for a determined period of time over these lands. Possession rights are basically land use acknowledgments which are essentially recognized based on the occupation and use of a certain area of land, whereby the owner is the Government.

Persons interested in investing in projects located within these restricted areas should be very careful to ensure that the award of the “possession rights” or “limited ownership” have been duly granted by the National Agrarian Reform or the Cadastral Office.

1. Title granted by the Agrarian Reform –In the Republic of Panama, since the enactment of the Agrarian Code (property law) in 1962, the only authorized authority enable to award “possession rights” or “limited ownership” over agricultural or cattle lands is the National Agrarian Reform of the Ministry of Agriculture. This Code restricts the national and local municipal government authorities to grant “possession rights” or “limited ownership”. In this sense, it is important to verify the following aspects before investing in this type of real estate:

1. That the award of the piece of land is issued by Agrarian Reform of the Ministry of Agriculture.

2. That the award contains a complete description, including area, limits, boundaries, encumbrances, and other important details of the land. A complete blueprint shall be drawn and approved.

3. That the activity to be undertaken by the purchaser is allowed, that is, that the construction or building to be made is acceptable to the national or local municipal government.

4. That the award be extensive for a period of time suitable for the purchaser.

5. That the award, does not consist in properties restricted by the Agrarian Code (Art. 27). Due to the lack of uniformity regarding the granting entity for “possession rights” it is of utmost importance to review each purchase individually and make recommendations specifically for each land option.

The length of the transaction process for the possession rights transfer will vary and can take up to 2 years, depending on many factors, such as the date of recognition of the possession rights, inspection by the granting entity, among others.

NB. Many land developers in these special areas have undertaken the task of procuring the right of possession title documents and transfer the ownership of the same by means of the sale under a Panamanian corporation and its assets. Special caution should be taken with these transactions asthe corporation could have undertaken other businesses besides that related to the property and there is no official registry of the commercial undertakings of the same.

2. Title granted by the Cadastral Office of the Ministry of the Economy – Due to the fact that most land subject to “rights of possession” are located within islands and beachfront property, such as Bocas del Toro, Chiriqui, Portobelo, Veraguas, the government enacted Law No.2 of 2006, whereby administrative concessions and the purchase of islands and coastal territories for tourist investment purposes are regulated through the Ministry of the Economy and theCadastral Office. This law gives security to foreigners and national investors, because it has extended concession periods from 40, 60 and 90 years, depending on the amount of the investment and also grants the option purchase an island and coastal territories with some restrictions. Also this law will honor previously awarded rights of possession, granted before the start of this law.

Other Alternatives for Purchasing Property in Panama

Purchase of a property by means of the acquisition of a Panamanian corporation which already owns the land is an alternative that may be considered by investors interested in purchasing land, provided that a full due diligence is made on the corporation and the seller makes substantialrepresentations assuming full responsibility for the corporation’s previous activities.

If you decide to procure a corporation that owns a property as its only asset, according to Property Law No. 18 of June 2006, the buyer must retain 5% from the total share sale price and report this to the General Income Directorate as an advance of capital gains tax. Other methods for the transfer of property are donations or legacies, which follow a completely different procedure, and most likely will not be an alternative for foreign investors looking to invest and/or retire in Panama.

Conclusions of Property Law in Panama

It is important that before purchasing any kind of property in the Republic of Panama that any investor makes sure to follow these simple steps:

1. Perform a complete due diligence of the property, including a complete title search, review of cadastral surveys, verification of good standing tax of the land, verification of good standing on utility bills (water and sewage, electricity, telephone, etc.), as well as verification of any other special characteristic of the property.

2. Enter into a Promise to Purchase Agreement in order to have enough time to properly execute the due diligence regarding the property and corporation. For titled properties, this agreement shall be duly recorded in the Public Registry in order to affect third parties.

3. Enter into a Purchase and Sale Agreement. It is important to include an indemnification clause in the event of hidden defects of the property. Payment should not be made to owner/seller until the proper transfer of ownership or “possession right” is undertaken or when title property is duly transferred into buyers name, for this matter we recommend to use a letter of promise of payment through a local bank.

4. Consider title insurance over the property for the totality of the sum invested. This will ultimately guarantee your investment.

Given the complexity of making a purchase we strongly advise to seek the services of a company specialised in property law.

Thanks to Business Panama for this information.