nomo-aloha
Dryer sheet aficionado
- Joined
- Feb 15, 2006
- Messages
- 45
atla said:Panama sounds interesting and I may want to go visit on an extended stay. However I just have a difficult time convincing myself to invest in real estate outsied of the US. Anyone else have similar concerns?
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I've always shared your concerns in investing outside of the US. In the meantime, I've watched friends make fortunes in Costa Rica. I missed that ship..but have no real regrets because I wouldn't have slept well.
I think Panama is a different story. I mentioned earlier in this thread how pro-American everyone was. The cops do random stops and as soon as we said "tourista, norte americano" they would wave us on.
I don't know the exact number of us that pulled out of there when they got the canal back...but it was thousands and definately significant. They want us back.
The biggest thing contributing to my level of comfort is their banking industry. As I mentioned earlier, they do not want anything, like stealing land from americans, to disrupt what they have going on in that sector. I don't know exactly what's up down there...but something is going on. There are gorgeous highrises all over the place and many more slated to start.
Their pensionado thing is great and the tax breaks are unparralled. 20 years in some instances where your residence is tax free. However...if I am not mistaken, I think the taxes then become rather high (at least by Hawaii standards) I should probably not make that comment because I am not positive. But check it out.
I understand there has been some shady land deals up there in that Bocas del toro area. like anywhere else..i imagine you have to be smart. I would get a good realtor..I used Diana Bishop of panamarealtor.com , great lady and very hospitiable. She's a Canal brat..or whatever. American born and raised in Panama. I have 100% faith in her and IF I decide to buy...I will look no further.
Hope this helped.