Panamainfo’s Blog

A New Law and the Difficulties for Latin Americans to Get Visas to the States are Causing Panama City to become the Next Miami.

Why have Dell, Hewlett Packard, , Proctor & Gamble, Caterpillar and the United Nations have all decided to make Panama their regional headquarters? The answer is simple: Today Panama is the best place in Latin America to live and do business.

According to a 2007 study in Foreign Policy Panama has the most globalized economy in Latin America based on direct foreign investment, import and exportation figures and secure, speedy internet services.

Panama is also politically stable, safe, has the US dollar as currency and a nearly first-world communications and transportation infrastructure. (Broad band and internet services are better than most places in the States.) Panama is also the most foreigner-friendly country in the region. Due to its long history as a world cross roads, Panamanians actually enjoy foreigners.

Panama recently enacted Law 41, modeled on a Singapore law that gives tax breaks, hiring priviledges and other incentives for companies who want to establish a headquarters in Panama.

For business travel Panama City is Latin America’s most connected city. No other city offers more direct flights to the Americas and the Caribbean than Panama’s as Copa Airlines regional hub.

International companies are choosing Panama also because their Latin American staff since 9/11 have a very hard time getting visas to enter the United States. Thu Panama is becoming the new Miami for Latin American-based business.

For executives and their families, sophisticated Panama City offers a high quality of life. To start, it is one of Latin America’s safest cities. For family life, there’s a wide selection of fine neighborhoods for residence, modern shopping malls, fine dining, three accredited international schools, the best health care in Central America and plenty to do. For recreation and vacation, Panama’s many beach and mountain destinations are ideal for family vacations and excursions.