March 4, 2010
Panama City, Panama
PLUS:
- Isn't Guatemala Unsafe?...
- How To Expatriate...
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We Got It All On Tape!
Here's Your Last Chance To Benefit And Save More Than 50%
If you were unable to join us in person last week, we missed you. And we want to offer you a chance now to benefit from the insider and expert insights and information that has been shared, discussed, and debated over the two-and-a-half days of this high-powered event.
No, it's not the same as having been here...
On the other hand, you don't have to get on a plane.
These recordings are being edited as you read this. When they're ready, they'll be bundled with the PowerPoint presentations and other speaker materials...along with other top Panama resources, including our complete Live & Invest in Panama manual. This Total Panama Package will be ready for fulfillment starting next week.
Meantime, you have this final chance to claim your pre-publication copy.
If you weren't able to be in the room with us last week, this is the next best thing. And, right now, while the editing continues, you can purchase this all-new Live & Invest in Panama Conference Kit at a savings of more than 50%.
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Dear Live and Invest Overseas Reader,
At last week's Live & Invest in Panama Conference, longtime friend and British expat David Stubbs, five years resident in Costa Rica, compared that country to Panama. David is partnered with my husband, Lief Simon, in their
Los Islotes development on Panama's Azuero Sunset Coast, meaning David travels back and forth between the two countries regularly. And he can't help but make comparisons...
"One of the biggest differences, Panama to Costa Rica," David began last week, "is to do with infrastructure. It's better in Panama. When it comes to roads, bridges, telecommunications, Internet, really, there's no comparison.
"Looking at the numbers, it's easy to understand why. In 2008, the most recent year for which I was able to find complete data, Panama invested 77% more in infrastructure than did Costa Rica. That's a 77% greater investment per capita.
"Of course, it helps that Panama has the money to spend. Where does it come from? One important source of revenues is the Panama Canal. Since Panama took over operations a decade ago, both annual tonnage and transit rates have increased steadily. Transit time through the canal has been reduced from 33 to 23 hours. And canal revenues have returned US$4.5 billion to the Panamanian Treasury. The Panama Canal is today the most active port in the world (followed by the Suez Canal and the port at Shanghai).
"Panama boasts more maritime registrations than any other jurisdiction and has made a major business of maritime insurance."
This country's mega-investment in infrastructure continues. Currently under way are the US$5.2 billion Canal Expansion Project, and recently completed were the US$267 million expansion of the highway between Panama City and Colon and the US$190 million development of the Cinta Costera through downtown Panama City.
The former U.S. military base at Howard is being redeveloped into a new city. That's the only way to describe what's going on here. This is no ordinary development project. This is the construction of a new city that will be as big again as the country's current capital. Seven-hundred-million dollars are going into the undertaking that is Panama Pacifico.
About US$140 million has been committed to the clean-up of the Panama City bayfront. In addition, President Martinelli has committed:
- US$430 million to the construction of a new Liquid Natural Gas (LNG) terminal...
- US$1 billion to the development of a Panama City metro...
- US$180 million to a new highway in Chiriqui...
- US$52 million to extend the Cinta Costera into Casco Viejo...
- US$2 billion to 31 new hydro-electric projects...
- US$386 million to build new and to renovate existing hospitals...
- US$25 million to the expansion of the international airport at David...
Martinelli has also begun implementation of a national Internet network that eventually will provide 600 hotspots in 22 cities around the country.
Panama's economy, which continued to expand through 2009 despite the global recession, is expected to grow by a further 3.5% to 5% this year, by 6.1% in 2011, and by 7% in 2012.
Bottom line, David concluded, what's the difference between Panama and Costa Rica?
Significantly better infrastructure in Panama, first and foremost.
In addition, the cost of living is lower in Panama, meaning that, living in Panama, you enjoy a higher level of services and support at a lower cost.
In Panama, it's possible for anyone to walk into any electronics store and buy a cell phone for US$20 or less. In Costa Rica, the only place a non-resident can obtain a cell phone is in the arrivals hall of Juan Santa Maria airport. If you don't know to do this when you're collecting your bags upon arrival in the country, you're outta luck And even a resident must jump through hoops for the privilege of investing in a cell phone.
Costa Rica's government is a basket-case, while Panama's recently installed administration seems focused laser-sharp on growth and development.
While Costa Rica continues mired in typical Banana Republic confusion and disorder, Panama is moving quickly toward an "investment grade" rating and First World status.
What's David still doing living in Costa Rica? He's beginning to wonder...
Kathleen Peddicord
P.S. We got David's complete address on tape...and it's featured along with the dozens of other presentations from last week's conference in our all-new
Live & Invest in Panama Home Conference Kit. The audio recordings are being edited as I write. When the editing work is complete, they'll be available for immediate fulfillment. Meantime, you can purchase your pre-publication copy of this all-new Total Panama Program and save more than 50%.
Full details here.
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Crisis Investing
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From foreclosure opportunities to wholesale prices to exclusive early-in benefits, the deals are out there...you need only know how and where to look.
With almost two decades of experience, resident international property investor Lief Simon can help you take advantage of the incredible opportunities on the table right now, worldwide, to make money from international property investments.
Lief will detail not only specific strategies to follow to take best advantage of current market conditions, but also specific markets to focus on and specific current deals to consider.
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"Kathleen, a family friend just returned from a trip to Guatemala. While in Guatemala City, she stayed with family and was upset by the reports of crime in that city. I realize that most large cities in the world have crime and that to believe you can get away from it in total would be a mistake.
"However, in the past, you have touted La Antigua as a place to retire. Has your felling about La Antigua changed, or do you still consider it a safe location for retirement?"
-- Barry F., United States
Central America Correspondent Michael Paladin replies:
"Yes, Guatemala City, population 3 million and counting, has its share of crime. Antigua, on the other hand, is a different story. This town enjoys a very, very low crime rate, in part thanks to the significant police presence. Antigua is the top tourist destination in this country, so the government invests in keeping it safe. In my experience, Antigua is safer than any city of this size I've ever known. I never lock my doors when I go out, for example, and I don't worry about closing my windows, even when valuables are in plain sight."
"I want to become a Belize citizen and
renounce my U.S. citizenship. Exactly how do I do this? Do I need to become a Belize citizen first? I wouldn't want to give up my U.S. citizenship and then not get the other one for some reason. Then I would be really stuck. Can I get some advice? "
