Panama, a land of abundant fish, the canal, and amigos!

by John Hawley

This morning I felt compelled to explain myself to a lady friend whom I’d become rather close with through emails and telephone conversations. She acknowledged that at 32 years old she didn’t believe I was capable (considering I'm 45 years old) of making it through the screening process that she has for finding a husband and father for her son and future familial plans. She felt it necessary to console me for my being out of her league in that regard. In turn, I chuckled and replied, "As for the age, I'm with you on that and support your desire to find the right guy and situation to suit your wants and needs. Funny how we actually do have quite a bit in common as one reason I seldom talk/tease with women or show much interest considering that my first thought is usually to question my willingness to marry and spend the rest of my life with the person.  Por que no? I have little to offer a twenty or thirty something year old person likewise looking for marriage, children, etc. I value those things, but realize (unlike many stage & screen celebrities) that in 15 years I'll be 60 yrs old! Wow! I didn't think it possible at 18 yrs old that I could make it that far. There is nothing like a younger woman to remind me.

The sensible thing for me at my age is to enjoy the richness of my life where I can find it (mostly between my own ears) and plan for my retirement, which involves working my corporate job and developing opportunities for less than well off Americans such as myself offshore."

The means I employ in developing those opportunities involve mostly research into Central and South American countries. For years, I’d done the same focussed on S.E. Asia, but now realize that most Americans won’t seriously consider travelling that far from the states to live. And there are indeed wonderful opportunities in Latin America for Americans of all ages. Now let’s get down to business and consider one such country.

A Jay Leno Jay Walking contestant might confuse the country of Panama with the name of a headhunter’s dish with your mother as the main course. However, you are much smarter than that! What you may not know is that Panamanians tend to love U.S. citizens as most all of them have a connection with family or friends in the U.S.

Norte Americanos blend in well in Panama as many retired there before and after control of the canal was turned over to Panama in ’99. Panama is a place worth considering for your retirement with its moderate climate, a cost of living half of what Costa Rica currently has to offer, and a host of services and benefits for retirees. Clear title can be easily acquired on property in Panama and your investment would be reasonably secure. If your retirement nest egg doesn’t look as good stateside as you once thought it would consider learning more about the opportunities for you in Panama, Costa Rica, Nicaragua and the rest of Latin America. Learn a little about each of these countries past, present, and potential futures if you are seriously considering such a move.

A land of abundant fish is how native Central American Indians referred to the area that was so named Panama. Rodrigo de Bastidas along with his first mate Vasco Nunez de Balboa discovered the region for Spain in 1501. Thus, began a series of rigorous clashes between the conquistadors and indigenous tribal people the vestiges of which continue to influence the cultural and political dynamics of Panama today. Though most commonly known for the canal and a deposed dictator incarcerated in Miami, Panama is a country of 1500 islands that with the mainland continue to be a focal point for global commerce and cosmopolitan cultural diversity.

Panama’s archaeological history dates back 11,000 years to days when fishing and hunting were the economic mainstay followed by agriculture as evidenced by corn grinders (metates) at the Barrile encampments around Volcan Baru. Sportfishing, hunting, and agriculture are all important aspects of Panama today. Area natives learned the art of gold metallurgy from the Peruvian Incas that contributed to the grave attraction of conquistadors and pirates alike. It was here that Balboa made Western history as the first European on September 26, 1513 to see the Pacific Ocean followed shortly thereafter by his death at the hands of the Spanish Governor Pedro Arias de Avila. Spanish success at exploiting the wealth of the region including the trade route of the Camino de Cruces (Las Cruces Trail) was followed by rigorous attacks from those who sailed under the Jolly Roger. British pirate Sir Francis Drake destroyed the town of Nombre de Dios. Buccaneer Henry Morgan (more known now for his namesake rum) destroyed the city of Panama prior to being knighted and appointed Governor of Jamaica.

After Independence from Spain the region was part of Simon Bolivar’s envisioned union of Latin American states, the Gran Colombia, which included modern day Bolivia, Colombia, Ecuador, Peru and Venezuela. Then Colombia broke away taking the Panama region with it, which was later exploited by the United States in brokering with locals for a sweetheart canal construction deal. After the Suez Canal builder, French Ferdinand de Lesseps failed to complete his contract with Colombia for the canal, he sold it to the Americans. They in turn in that same year of 1903 provided military support to a Panamanian independence rebellion. The result was the establishment of the Panamanian nation along with a treaty agreement that Panamanians felt usurped much of the canal’s benefits from Panama for the United States. In 1977, U.S. President Jimmy Carter signed a new treaty agreement with Panama’s President Omar Torrijos Herrera that transferred ownership and control of the canal over to them in 1999.

There have been four presidents (the first appointed and then three elected) since Manuel Noriega was ousted in 1990 and imprisoned in Miami on drug charges in 1992. The country is a functioning constitutional democracy. The current President Martin Torrijos was popularly elected and is committed to economic development through efficiently running the canal, encouraging foreign investment (which includes welcoming U.S. retirees) and improving the opportunity for the poorest in Panama to lead productive lives.

One-third of Panama’s 3 million citizens live in poverty, but many on the other end of the socioeconomic spectrum live lavishly with luxuries the likes of which are found in major metropolitan areas of the U.S. and Europe. Lifestyles abound in Panama some of the most interesting of which are seen in the seven distinct indigenous tribes that continue to practice their ancient customs. The Kuna tribal people can be found on 400 islands of the Archipielago de San Blas along the Caribbean Coast. The central government of Panama affords the Kuna autonomy over those areas and other tribes authority over some of their own.

Panama has a tremendous wealth of bio-diversity with nearly one thousand bird species the largest number in Central America and most of the same plants and animals you find elsewhere in Central and South American aside from over 100 species of animals for instance found nowhere else on the planet. Macaws, quetzals, and toucans fly over rainforest canopy inhabited by capuchin, squirrel and howler monkeys that remain on lookout for jaguars, ocelots and pumas below. The humpback, sperm, and killer whales share Panama’s reef laden coast with fisherman catching sailfish, marlin, snapper and jack. Sea turtles abound with many of the islands serving as their annual nesting grounds. Oh, and the surfing is terrific! The 12 foot wave face on average February and March Santa Catalina breaks puts many international surfers on that shore. Jon Hanna at Panama Surf Tours can provide you all the surfing low down (www.panamasurftours.com). Partygoers are not disappointed as festivals and nightlife about in Panama. Carnival in Panama is one of the largest in the world. All manner of club music from meringue to heavy metal can be found at bars such as Panama City’s Bongo, Rock Café, Bucaneros, Opah, Zoomba, La Baviera, and Karmak. The gay and lesbian community is not to be left out of the revelry with clubs such as BLG, Glam and Punta G. There are several websites that specialize in gay and lesbian Panamanian entertainment events including www.rumbanight.com and www.farraurbana.com.

Panama’s currency is the balboa, which is nothing more than another name for the U.S. dollar. No mucho dinero is necessary para comer y beber (to eat and drink). A typical Panamanian meal (comida corriente) costs under $2 U.S. Medical insurance is available to Americans in Panama at far less than U.S. rates and many hospitals honor existing U.S. insurance plans. High quality medical care is available in Panama and is far less expensive as with an average doctor’s visit charge of $5 without any insurance.

Purchasing property is not as troublesome in Panama as in many other countries. There is no escrow required, property valued under $20,000 is tax exempt, and those above are locked in at the declared purchase price until it is resold.

The government Notary is the final say in property transactions. The only property category that most should consider purchasing is "titled" land registered in the national record and legal to own. There are untitled squatter lands and public lands that would not be suitable for a retirement home or development.

The escrituras (title) should be available for inspection along with a map description and the Certificado de Registracion. If the registration is clean and clear of any liens you might consider an offer with no more than five percent down and request a bill of sale available from the nearest municipality. After the Notary signs the document it must be registered with the National Registry in Panama City at which point with all the appropriate stamps and signatures the property is yours. Financing is available on property, but as in many other countries of the region it is far less expensive to purchase property from a local than from a bank or other Americans that setup real estate offices in town and charge exorbitantly inflated prices for locals they represent. You can setup a corporation with friends and associates to develop your property and business opportunities. It is relatively easy to establish a corporation, merchant account, and other services in Panama facilitated by firms such as Panama Offshore Services (http://www.panama-offshore-services.com).

Again, it is always advisable to study a country’s history, culture, customs, and explore the region first hand to see if it truly holds any promise for you. That is what we here are all about. Pura Vida!