Land in Panama is not taxable if the value of the property is $30,000 or less. Property valued above that is taxable. Improvements like a house may have an exoneration for up to 20 years so this comment is only about the land not the improvements. In the past it has been a benefit to both the buyer and seller to minimize the on paper value of a land sale. Lower captial gains for the seller, lower or no property taxes to the buyer.

Enter change. Property owners have until December 2007 to have their property reappraised to market value. This provides the owner a tax free increase in basis which will reduce the capital gains on sale, but if Read more

Barranquilla – The Panamanian Minister of Agricultural Development, Guillermo Salazar, met representatives of the Cooperativa de Servicios Múltiples de Puerto Armuelles (Coosemupar), to discuss the alternatives to convert the unproductive areas of banana into palm oil plantations. Members of the cooperative of palm oil producers of Chiriqui (Coopemapachi) also assisted to the meeting. The exchange of ideas will allow Coosemupar evaluating the possibility to convert in the medium term the current 2,000 hectares of unproductive areas. Coopemapachi has 1,600 hectares of palm oil and have the scale to triple the current production, argued Mr. Salazar.

via FreshPlaza

In his first visit to the Republic of Panama and the Panama Canal on Sunday, U.N. Secretary-General, Ban Ki-moon accompanied by Panamanian President Martín Torrijos, emphasized his support for the historic Canal expansion and highlighted the importance of the transoceanic waterway in global trade.

“This Canal has made a great contribution to the world trade and movement of the international community,” the South Korean dignitary wrote in his message as he signed the guestbook at the Miraflores Locks Control House.

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By DON WINNER for Panama-Guide.com – Today I interviewed Lic. Karen Zamora, the Chief of Investigation for Panama’s Department of Immigration, regarding the recent changes to the tourist visa law. She said they can instantly check the status of any tourist in Panama using a new and sophisticated computer system. They capture the tourist movement data at entry points such as Tocumen Airport and Paso Canoas for every entry and exit, and they have the technology to instantly check on the status of any tourist in the country at any time (pretty cool). She demonstrated the technology using a mock suspect, and said “he last entered in January and has not left, so he’s currently illegal.â€? They can also now Read more

We finally have received our Jubilado Visas! Gone are the monthly trips to immigration for renewal of temporary Visas.

The “Jubilado Visa” is a permanent tourist visa. It allows a holder to stay in Panama indefinitely without exiting the country. In fact, exiting requires another visa entirely. As a holder you are not an immigrant in any real sense, just a tourist with some benefits.

One major benefit not listed below is that you do not need to leave Panama every 90 days for 3 days to re-enter as a tourist.

Here is the official list of benefits.

PANAMA CITY, May 24 /PRNewswire/ — Vista Mar Golf & Beach Resort today announced the real estate launch of Las Brisas at Vista Mar, Panama’s newest oceanfront resort condominium project. Located within the gated oceanfront community of Vista Mar Golf & Beach Resort, Las Brisas at Vista Mar will rise above the 18-hole championship golf course designed by J. Michael Poellot. Each luxury residence will command panoramic views of the golf course and the Pacific Ocean to the west.

Las Brisas residences are available for purchase with prices starting at $288,700 USD for a 1,765-square-foot, two-bedroom condominium. Penthouses start at $563,600 USD for a 3,018-square-foot condominium.

The two- and three-bedroom and penthouse condominiums include owner option to seal off one Read more

It would be very hard for anyone today to imagine what the Panama Canal Zone was like in its heyday, which would have been in the 1940s and 50s. It was after the Suez Crisis of 1956 when Egypt took control of its Canal that the whole question of sovereignty over the Panama Canal and the Canal Zone began to change: you could say the whole process of decolonization in the developing world which was strongly backed by the U.S. after WWII, put an end to America’s oldest colony. But while the Canal Zone was in existence it can’t be denied that it was the most stunning commune ever built: the planning of the Canal Zone was like something straight Read more

ENTRY/EXIT REQUIREMENTS: U.S. Citizens traveling by air to and from the Panama must present a valid passport when entering or re-entering the United States. Sea travelers must have a valid U.S. passport (or other original proof of U.S. citizenship, such as a certified U.S. birth certificate with a government-issued photo ID). U.S. citizens are strongly advised to obtain a U.S. passport before traveling to Panama. Although entry into Panama is currently permitted with proof of U.S. citizenship (such as a certified birth certificate or a Naturalization Certificate) and official photo identification (such as a driver’s license), travelers have experienced difficulties exiting Panama and re-entering the U.S. when not in possession of a valid U.S. passport.

IMPORTANT NEW INFORMATION : As Read more

The best time to visit Panama really depends on what you plan to do. If you intend to spend most of your time on the Pacific side, try December or January, when there’s generally little rain and the weather is pleasant. If you’ll be doing any serious hiking, this is also the most comfortable time to do it; the Darién Gap can be crossed only at this time. Bear in mind, however, that hotel prices and airfares are generally higher in the dry season (mid-December to mid-April). For planning purposes, be aware that Panama’s mountains can get very cold at night; be sure to bring warm clothing.

Some of Panama’s colourful festivals draw large crowds. If you like to party, Read more

The Panama Canal rainforests are the most accessible pristine rainforests in the world. Just minutes from Panama City in the former American Canal Zone, now Soberania National Park, they are home to exotic nature and outstanding ecotourism attractions. A veritable treasure of nature, these 50,000 acres of pristine rainforest host 105 species of mammals, 525 species of birds and 124 species of reptiles and amphibians.

Recently, a well traveled travel writer told us that she had traveled to the deepest part of the Amazon, but not seen nearly as much nature in the Amazon as she saw in the Panama Canal Rainforest…just 30 minutes from the modern metropolis of Panama City.

A travel article in Los Angeles Times reports Read more