Panama's Hotel Developments
Panama's Hotel and Commercial Rental Market in Focus, will Scion, Donald Trumps new venture look to open new projects in Panama, a popular US retirement location.
As real estate developer tycoon Donald Trump developed the Ocean Club International Hotel and Tower it seems plausible that at some time Scion, Trumps new real estate developer model, will look to capitalize on the interest US citizens have with Panama.
Panama City has long been held as a destination for US citizens looking to retire in a warm climate that has relatively easy access from mainland USA.
The Panama Property market is attracting the American retiree population, as well as many other buyers from North and Latin America and investors from Europe and Asia.
Whether investing or relocating Panama has many reasons why this region has been attracting people for several years and will it seems continue to do so.
Panama has long provided several important incentives for foreign investors, including:
- US dollar-based economy.
- Low inflation and zero foreign exchange risk.
- Total absence of exchange controls.
- Equal treatment of foreign and local citizens.
- One of the most flexible company laws in the world.
- No restrictions on 100 per cent foreign-owned companies.
- No restrictions on mergers, acquisitions or joint ventures.
- Excellent tax holidays for specific investments in sectors such as tourism, maritime, real estate, mining.
- High percentage of labor force is bilingual making it an attractive desitnation for Europeans and South Americans.
- Panama has been ranked first in the region for low cost of living, operational cost and index of labor by the Tripartite Committee, which consists of the Economic Commission for Latin America and the Caribbean (ECLAC), the Organization of American States (OAS) and the Interamerican Development Bank (IDB).
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