Friday, January 29, 2010

Property in Volcan, Panama

panama real estate

panama real estate

panama real estate

In Chiriqui,Volcan a relative of my father is selling this property. It fully entitled, it has approximately 300 hectares and it is for sale for 2 Million Dollars.
If you havent heard about Chiriqui real estate, I can give you a brief description of this market.

Boquete is one of the hottest areas in Panama, with several projects in development.
The highland area wich includes Boquete and Volcan has an average temperature of 20.

Please if you are interested, you can send me an email here.

Resellers would have 1% commission fee over the 2 M.

Here are some pictures of the area. I will add video as well in the next days.

Saturday, April 05, 2008

Panama mortgage financing

January 1, 2007

The following are the average terms and conditions of mortgage banks in Panama. This mean that specific rates and conditions may vary from bank to bank.


Between 60% - 70% of the purchase price or appraised market value, whichever is the lesser.

Interest Rate:

From 6.5%, plus FECI 1% per year.


Maximum amortization of 20 years divided into Five (5) years renewable at the Bank’s option for three (3) additional terms of five (5) years each. The maximum amortization period will be subject to factors such as Borrower(s) age and Net Worth.


First mortgage over the property.


Banks generally require that the borrower(s) contracts a life insurance policy for the amount of the loan, endorsed to the Bank, and a fire insurance policy with catastrophic extension for the amount of the loan, endorsed to the Bank. The insurance must be underwritten in Panama.

Bank Commission:

Approximately 1% of the amount of the loan payable at time of loan drawdown.

Other Conditions:

1. The borrower(s) cover all legal and registration expenses charged by Bank.
2. An appraisal of the property given as security to report an estimated market value at least equal to the purchase price.
3. Opening of a savings account, through which, the payments for the loan will be deducted, with a minimum balance equal to three (3) monthly installments.
4. The customer must meet with the lending officer at the Bank at least once.

Documentation Required:

Job letter and copy of two pay slips (for borrowers currently earning a salary).
Copy of the last three personal income tax declarations and/or business income tax declarations or audited financial statements.
Two clear copies of the ID cards or passports. Copy of all the pages in the passport.
Adequate verification of sufficient personal assets (copy of bank account statements, real estate titles, bonds, common stock, etc.).
Copy of the Purchase-Sale Agreement.
Credit references.
The BusinessPanama Group, owner of this website, is one of the largest integrated services groups in Panama. We have experienced real estate brokers, lawyers, bankers, title insurance experts and other professionals to assist clients on any business they need.

At BusinessPanama Real Estate, we can help you with:

Buying a property or home in Panama City, Bocas del Toro, Boquete, Islands or Mountains
Forming a company to own your property
Legal services to purchase the property
Applying for your residence program
Title insurance
Home owners insurance
Bank mortgage financing
In bank mortgage financing, we can take care of the whole procedure from beginning to end on your behalf. We will find the most comprehensive terms for your specific case and coordinate all requirements with the bank and yourself.

We work with all mortgage banks operating in Panama such as ScotiaBank, HSBC, Banco General, Banco del Istmo, Banco Cuscatlan, Banco Nacional, Caja de Ahorros and others.

Panama real estate taxes

Transfer tax must be paid by by seller at the moment of transfer of the property.

A 2% real estate transfer tax is levied on the transfer of real estate based either upon (1) the sale price stated in the official purchase/sale document (sale contract) or (2) upon the official property value, which ever is higher.

The taxpayer may choose to pay either (1) the 2% real estate transfer tax over the greater of the purchase price of the property or the oficial property value, increased by 5% per year of tenancy, or (2) to pay income tax at a 10% rate based upon the assessment value plus a 10% increase for each year of tenancy. If the taxpayer chooses this second option, no further taxes on capital gains on the transaction are levied.

Sale of a new residential property is exempt from this tax if the buyer uses it as a personal residency.

The real estate transfer tax can be offset as a direct credit against the income tax levied on a capital gain arising from the sale, if any.

Income on capital gains resulting from the sale of real estate is taxed in full and on a separate basis regardless of whether the company or the individual had a net taxable income or a net operating loss.

Real Estate or Property Tax

All land and real estate improvements thereon located in Panama are subject to real estate taxes.

Real Estate tax is appraised by an agency of the Ministry of Economics and Finance. It must be paid according to the official assesment value, which is usually the declared value on the sale document.

The maximum annual percentage of assessment is 2.10% which is based upon two items: (a) over the value of the land, and (b) over the declared value of the improvements built.

The taxable base will depend upon the total value of the land plus all improvements. Real estate transactions at prices of more than the appraisal value will automatically increase the value of said properties for tax purposes. Certain properties and improvements thereon are exempt or can obtain exemptions from real estate taxes according to special incentive tax laws.

Real Estate Properties with assessed official values of less than US$30,000.00 are exempt from taxes. Real estate taxes have priority over all incumberances on the property.

Taxes can be paid in three installments, namely by April 30th, August 31st, and December 31st.

A tax clearance certificate must be obtained before any real estate transaction can be completed and will be required by the Panamanian Public Registry Office for any transaction regarding the property.

The New Panama Island Law

The New Panama Island Law

The day that President Martin Torrijos stamped his signature to Law 2 in the island of Bocas del Toro, an initial group of 7 projects for an estimated amount of US$732 million were unveiled. Now there are other projects in the pipeline in the Pearl, Veraguas and the Parida islands, showing that investors were awaiting this law....


During recent years, Panama has become a top destination for tourists, investors and retirees from all over the world. Most retirees or “pensionados” come looking for more friendly, secure and affordable communities, such as Boquete, Volcan, the Caribbean islands of Bocas del Toro, the Pacific beaches and, of course, cosmopolitan Panama City.

Incentives for tourism investments were first granted by means of Law 8 of June 14, 1994. The enactment of this law began the process of branding Panama as a tourism destination, attracting investors and tourists alike, but mainly in the hospitality sector.

In the last few years, resort residential communities have taken off and entrepreneurs have identified islands such as the Archipelago of Bocas del Toro to develop their projects, but found that most of the lands in these areas were yet to be titled, thus making the process of installing their projects more difficult.

As early as 2003, a group of foreign and Panama lawyers and entrepreneurs headed by Juan Pardini and JJ Espino identified the serious problems with certain land transactions known as “rights of possession” and started lobbying with authorities and senators from the government of Panama to enact legislation to regulate land tenure and establish clear rules of the game to title land for tourism projects and local inhabitants. The government became aware of the need for second-home or retirement investors to obtain registered title to the lands where their projects are to be developed and secure legal stability for their investments. With this in mind, the Cadastral Land Office (locally known as Catastro) headed by Benjamin Colamarco with the help of Edgar Aguilera, Irma Lee, Carlos Moreno and others promoted a bill of law early in 2005 which after extensive discussions and debates with multiple groups was approved and enacted by the Legislative Assembly as Law No. 2 of January 7, 2006 “which regulates concessions for tourism investment and the sale of island territory for purposes of tourism development and other provisions” (and an Executive Decree containing the enabling regulations for Law No. 2 to be enacted soon), also referred herein as the “Island Law”. This law provides legal security, clear procedures and continuity to the efforts to promote tourism investments in Panama, as set forth in Law No. 8 of 1994.

The day that President Martin Torrijos stamped his signature to Law 2 in the island of Bocas del Toro, an initial group of 7 projects for an estimated amount of US$732 million were unveiled. Now there are other projects in the pipeline in the Pearl, Veraguas and the Parida islands, showing that investors were awaiting this law.

Panamanian law distinguishes between two kinds of property: (a) private or titled property, and (b) public or state-owned property.

Titled property is that whose ownership, area, value, boundaries and other details are duly recorded at the Public Registry of Panama. The Public Registry of Panama contains a centralized record system of all titled property in the Republic of Panama.

State-owned property is all land and territories owned by the Republic of Panama, which can be used by a private person (individual or company) if an administrative concession has been granted over the same for a limited period of time. State-owned properties can also be exploited or used for agricultural purposes by persons in the event a possession rights certificate has been granted by the Agrarian Reform of the Ministry of Agriculture. Rights of possession (in this article referred to as “RoPs”) have also been recognized by local authorities such as Municipalities and Regiments (“Corregidores”). Law No. 2 of 2006 acknowledges RoPs granted by any of the authorities identified above, subject to the process established for the issuance of concessions.

Law No. 2 of 2006 provides to tourism investors the opportunity to either obtain a long term concession or acquire and title the property where they will undertake their projects.


Concessions can be defined as leasehold agreements between the Ministry of Economics and Finance through the Cadastral Office, a government institution in charge of the management of all state owned property, and individual persons or companies for a determined period of time. Once the concession is granted the person awarded the concession must pay to the Ministry of Economics and Finance an agreed lease amount.

Law No. 2 provides the following additional characteristics for concessions over areas located in the tourism zones as defined by the Ministry of Tourism, whether located on islands, coastal lands, and other properties of the State, to be granted for tourism projects:

Longer concession periods granted to investors for use of state-owned lands:
Law No. 2 of 2006 establishes concession periods of 40 years with the option for an extension of 30 years.
There also exists the possibility of a concession for 60 years, with an extension for an additional 30 years.
The length of the concession will depend on the amount of the investment and potential for generation of employment, subject to the parameters to be set by the Ministry of Economics and Finance.
The granting of these concessions will be awarded by means of a public bidding procedure as it will be more fully detailed in the enabling regulations.
An express procedure for the procurement of concessions over lands to be used for tourism projects.
All improvements and buildings constructed over concession areas may be titled and recorded in the Public Registry. This will facilitate procurement of financing for the investors as well as the option to sell, lease, transfer, mortgage or in any other manner make use of the concession granted to him and the improvements attached thereon.

Law No. 2 of 2006 creates an “Express Window” (“Ventanilla Unica”) within the Cadastral Office of the Ministry of Economics and Finance in charge of receiving all applications as well as processing all approvals and authorizations required for concessions. This special department will have representatives from all entities whose approval is necessary to complete the concession contract and start a project. To speed up project start-up, and once the developer present all basic requirements, this Express Window department may issue a provisional authorization to begin operations, while the developer complete all remaining requirements for the permanent concession.

Among the requirements to be provided to the Ministry of Economics and Finance to obtain the concessions created by this law are:

· Preliminary development master plan of the property.

· Project budget.

· Development program and execution schedule.

· Evidence of financial capability of the petitioner.

· Certificate issued by the Ministry of Tourism certifying that the requested area is located within a tourism development zone.

· Approved Environmental Impact Study.

· Certificate that the petitioner is registered before the Tourism Enterprise Registry of the Ministry of Tourism.

· Performance bond for 10% of the value of projected works, which will expire once the improvements are recorded.


Islands, whose ownership, according to the Constitution of Panama, up to now, was limited to nationals, have always been an area of special interest for tourism related investments.

Law No. 2 of 2006 provides the following incentives to foreign or national individuals or corporations interested in purchasing island territory for developing a tourism project:

· Island territory may be sold for tourism related purposes, provided an affidavit is granted, confirming the purpose of the investment and the number of jobs to be created.

It is important to repeat that no more than 50% of an island can be sold to foreigners or foreign interests in a corporation. The sale of island territory must be submitted to a public bidding procedure as it will be more fully detailed in the enabling regulations and obtain the approval of the Ministry of Economics and Finance. However, projects over RoPs or already initiated or undertaken on an island before the enactment of Law 2 may request direct sale of the island property.

· Individuals or corporations legally occupying island territory will have the right to obtain concession of the same and be able to transfer it to a third party.

The contract for purchase of island territory must include at least the following:

· Description of the land granted for sale, including area, measures and boundaries.

· Value of the land object of the sale. The price will not be less than the average of the appraisals made by the Ministry of Economics and Finance and the Cadastral Office.

· Estimated amount and details of the investment, including the amount to be invested in utilities and infrastructure for the project.

· Environmental Impact Study and Mitigation Plan.

· Complete description of the project in its definite phase, including investment amounts and execution term for the development of the project.

· Description of beach easements, which can be no less than 22 meters.

· Precise description of the public domain assets located within the island territory.

· A bond of at least 10% of the value of the contract and that will be valid during the term of the project. This bond will expire proportionally as the improvements are recorded.

All projects within these areas must comply with the territorial zoning master plan to be prepared by government authorities. Until this master plan is approved, each project may submit its own zoning plan which will be processed and approved through the Express Window.

The same “Express Window” (“Ventanilla Unica”) within the Cadastral Office of the Ministry of Economics and Finance will be in charge of receiving all applications as well as processing all approvals and authorizations required for direct purchases of island territories.


Due to the nature of islands, and for sovereign protection purposes, the following restrictions have been set for these special tourism areas:

· They cannot be located less than 10 kilometers from the borders.

· They cannot have been designated as historical patrimony or national patrimony.

· They, due to their characteristics, cannot have been dedicated to the conservation of the environment or for forest or scientific purposes.

· They cannot be part of Indian territory.

The sale of these special tourism areas cannot exceed 50% of the total territory of each island and ownership cannot be transferred to another State. Tourism projects pursuant to Law 2 cannot exceed 30% of the total territory of an island.

As an effort for nature conservancy, the following limitations have been set for certain areas:

The construction over coral formations is forbidden as well as any activity that may cause the death or destruction of their ecosystem.
The cutting, use or commerce of swamp forests, their products, parts or derived products is forbidden, except for tourism projects after the approval of the respective environmental impact study.

As a final note regarding restrictions, concessions and sale of beachfront property may only be granted up to 22 meters as of the line of high tide. The area of 10 meters as of the line of high tide is considered beachfront and cannot be granted in concession under any circumstances. The area of 12 meters as of the beachfront can be granted in concession as a coastal easement.


Law No. 2 of 2006 cover a special procedure for individuals domiciled in an area, who have kept a permanent and uninterrupted possession of national island property, for at least 2 years before the enactment of the law, and prove that they have used such property for their own home or agricultural purposes.

These persons will be granted a concession for a period of 90 years without having to participate in a public bid process, plus not having to comply with the requirement of posting a bond and, being exempted from payment of the concession lease.

A corporation that properly purchase the RoPs from an individual resident in the area who proves that he complied with the requirements of Law 2 will be subrogated in the rights of such person for purposes of obtaining the concession.

Another special situation set forth in Law No. 2 of 2006 is the obligation of concessionaires and investors to hire non-skilled local personnel from the area during the construction of the project.


In an additional effort to promote residential tourism investments in Panama, Law No. 2 also provides incentives for “Vacational or Permanent Residential Units”. The purpose for this incentive is to promote the development of vacation and retirement homes or buildings, which may be built over concession areas on islands or coastlands, provided they are located within a tourism development zone as defined by the government and only one parcel per petitioner. These projects additionally will enjoy the incentives and benefits of Law 8 of 1994. Enabling regulations will be enacted to provide rules for the size of the parcel, costs of constructions and improvements over the same.


Law No. 2 of 2006 confirms the decision of the Government of Panama to support, promote and grant more legal security to tourism investments plus an orderly development and a better use of the island and coastal resources of Panama. The implementation of this Law No. 2 of 2006 will definitely result in benefits and profits for both the tourism industry and the country of Panama and its people.

Written by

Juan F. Pardini


BusinessPanama Group

With the assistance of

Gilda Berman and Michelle Delgado

Attorneys at Pardini & Associates

In the BusinessPanama Group, we have experienced licensed real estate brokers, lawyers and other professionals to assist you on any business you need.

We can help you with:

Locating properties in Panama City , Bocas del Toro, Boquete, Islands or Mountains
Developing a project on the islands
Forming a company to own your property
Legal services to purchase the property
Applying for your residence program
Title insurance
Home owners insurance
Bank mortgage financing
We will be delighted to assist you, represent you, or advise you. As Panama is the bridge of the Americas , let the Business Panama Group be the bridge between you and Panama 's rich potential. We are here to help you find a beautiful home or successfully launch your project without problems in Panama .

For more information, please contact any of offices in Panama City, Boquete or Bocas del Toro.

Dupont Towers Panama

BP-499 Dupont Towers
Last updated: 2008-04-05

Province/Town: Panama City
Exact Location: Punta Pacifica
Type: Panama City Apartments
Transaction Type: Sale
Sale Price: $331,000.00
Sale Price Terms: Between

Wanting a piece of the Panama City skyline? This project is located in Punta Pacifica, one of the newest and most modern neighborhoods in the city with magnificent views to the ocean and the city skyline. With easy access to shopping malls, supermarkets, fashion spots, and an infinity of places around the city, along with all the amenities just a walk away.

This project is on pre-construction. It has 42 floors. It has different sizes of apartments starting from: 166mts with 2 bedrooms and 2 bathrooms; 211.30mts with 2 bedrooms, family room and 2.5 bathrooms (maid’s quarters w/ bathroom); 265.60mts with 3 bedrooms and 3.5 bathrooms (maid’s quarters w/ bathroom)

With an easy access to a different avenue, in 20 minutes you can be at the mountains, 1.5 hour at the beach, and 5 minutes from the City of Panama.

The project has 24 hour security, a water reserve tank, fire alarm system, power plant, handicap access, high speed elevators, and a beautiful social area with: Gym, Pool, Solarium, Jacuzzi, Basketball court, Putting green, Gazebo, BBQ area, a beautiful lobby and even a private spa.

All installations ready if you want to install air conditioner. Central air conditioning is the primary however, a split air conditioning system is possible.

Project will be ready in October 2008

Friday, April 04, 2008

Grupo Provivienda

This new real estate group has many project to offer, one of the latest if Bijao
You can visit their web site here

Panama, better known as Central America's most modern and architecturally diverse city, has become the new hot trend in the international real-estate market. Panama’s changing skyline is due to the growing number of US and Venezuelan Residences that are choosing Panama as their number one place to live and retire. Panama has it all…incredible weather, modern centers, shopping, white beaches, rivers, lakes, mountains, jungles, rainforests, diverse culture and cuisine, and the best real-estate investment opportunities that can be found in all of Central America.

Live in Panama…Panama has near perfect weather, a stable government, no currency barriers, low cost of living, low crime rate, clean air, relaxed pace of living as well as abundant outdoor recreation. Panama has everything from golf and tennis to river rafting and diving. Modern infrastructure gives Panama the edge over traditional retirement destinations like Mexico or Costa Rica.

Grupo Provivienda, Panama's top residential real estate developer, has been an instrumental asset in Panama’s real estate development and growth for more then a decade. Grupo Provivienda has become the benchmark in Panama’s real-estate boom. Their experience and knowledge in construction makes their product the right choice for living or real-estate investment.

Grupo Provivienda successfully constructs and markets state-of-art apartments which make life in Panama an extremely comfortable and memorable experience. Grupo Provivienda understands consumer needs and has demonstrated the ability to deliver high quality developments throughout Panama and international markets.

Come live in Panama and enjoy all the benefits which it has to offer
Panama real estate

Trump Ocean Club

Trump Ocean Club,

International Hotel & Tower

Panama City, Panama
A $400 million, mixed-use development, the Trump Ocean Club, International Hotel & Tower will be an immense joint venture of the Trump Organization and K Group, a premier high-end resort developer in Panama. It will be located in Panama City at the beautiful Punta Pacifica Peninsula.

The 1.8 million square foot project will feature a 68-story condominium tower with approximately 300 hotel condominium units and an additional 500 condominium units. Each of the units will have unobstructed panoramic ocean views.

As a mixed-use project, the Trump Ocean Club, International Hotel & Tower will be much more than a high-rise tower. Its impressive amenities will include:

* International casino
* Yacht Club and Pier
* 24-hour marina
* 8,600 sq. ft. wellness spa
* State-of-the-art gym
* Two pools including an Infinity Pool
* Gourmet and casual dining restaurants
* Boutiques & shops including jewelry store, beauty salon, etc.
* Private beach club at Contadora Island
* 4,400 sq. ft. business center
* 24-hour concierge service
* 24-hour valet service
* Chauffeur driven limousine service
* 24-hour medical service

The development of Trump Ocean Club in Panama coincides with Panama's plans for a $5.5-billion improvement of the Panama Canal. Donald Trump said his interest in Panama was sparked three years ago when his Miss Universe pageant was held in the country. "I am excited to bring the prestige of the Trump Organization to this exceptional destination project," Trump said.

Trump Ocean Club will occupy prime real estate in Panama City overlooking the Punta Pacifica Peninsula.

"With this development, we will set a new standard of luxury in Panama. The Trump Ocean Club, International Hotel & Tower, will be a magnificent and distinctive contribution to Panama City, one of Latin America's most dynamic cities."

Roger Khafif, president of K Group commented, "The Trump Organization is committed to realizing in Trump Ocean Club, a one-of-a-kind, best in class, destination for living, working, boating and shopping in Panama.

"No other property in this rapidly growing and desirable region can compete with the Trump signature brand and its level of world-class amenities.

"This is the first time that the Trump Organization has invested in real estate development in Central America, highlighting the present level of confidence Mr. Trump has in Panama, our budding economy and our first-class developments."

Punta Pacifica is a high-end, newly developing area on a peninsula that juts into the Pacific. This exclusive neighborhood is next door to high-end malls, high-rent offices and the most luxurious high-rise condos in Panama.

Keep in mind, Trump Ocean Club is in fact a Trump property and will reflect the elegance and opulance that go hand-in-hand with the Trump name.

Furthermore, Panama is quickly becoming the mecca for luxurious residences in Latin America, and the Trump Ocean Club is destined to be its crown jewel!

Construction on the project began in May 2007 and should be completed by late 2010.

Prices for the condo hotel studios at Trump Ocean Club are from $383,000. Prices for the 600 condominiums range from the $500,000 to $850,000+.

Additionally the Bay Loft units just came on the market. These are some of the most desirable residences in the entire Trump Ocean Club building. Not only do they face the water, but they overlook Trump Yacht Club, too. And if you enjoy your privacy, then these units are worth every penny.

Bay Loft owners will have their own private lobby, private concierge and private elevators leading up to the studio, one- and two-bedroom units. Bay Loft units at Trump Ocean Club start at $332,000, and all units have their own private terrace with commanding views of the Pacific Ocean and Panama Bay.

Demand for this project has been tremendous and inventory is moving very quickly. Please contact us for additional information and instructions on how to reserve a Trump Ocean Club, Panama condo hotel unit while a broad selection of units remains.

Want to learn more about Panama? We've put together a brief summary.

Wall Street Journal writes about Panama

Whether it’s the mainstream media, or individuals who have discovered Panama, the praise for this tiny Central American country keeps growing. The travel book publisher Foot Print Books calls Panama one of the world’s “great crossroads.”

In a July, 2007 article in Fortune Magazine entitled “Latin America’s real estate Panamania,” Fortune describes Panama as “one of the world’s hottest real estate markets.”

The Los Angeles Times, the New York Times, and National Geographic have published exciting pieces highlighting the undiscovered delights of Panama.

The Wall Street Journal describes “the new breed of intrepid retirees (that are) branching out” to Panama. The Boston Globe calls Panama “an undiscovered tourist paradise.”

One retired investor admiring the view from his apartment recently said, “Panama looked like a good investment and a place to have a good time. You don’t need a lot of sense to see that property will increase in value.”
Said one Canadian who spent a year in Panama with her husband and two children.

“It’s an awesome experience. It was very, very nice. It was very different. It was very relaxing. When you look at Canada everything is fast-paced. When you come here you have to take a couple steps back…They don’t believe in a clock,”

The Panama Festival and Expo 2008

The Panama Festival and Expo 2008 A Premier Trade Show.

Come to PanaExpo, the world class 3-day trade show which exhibits investment and lifestyle opportunities in Panama, that runs from Friday May 2 to Sunday May 4 at the Toronto Congress Centre, 650 Dixon Road in Mississauga, Ontario. Mississauga is just west of Toronto, Canada.

PanaExpo visitors will have the opportunity to ask experts about investment and retirement opportunities in Panama and how to enjoy this gem of a country. International Living magazine called Panama “one of the best places in the world for retirees today.” Frommer's listed Panama as the world’s number four travel destination in 2007.

PanaExpo will also showcase Panamanian cuisine, culture, dance, and the arts. Exhibition space is currently available.

Thursday, March 15, 2007

London & Regional Panama

London & Regional Panama

planea la construcción de una mini ciudad en la antigua Base de Howard.

Jason Mills

director de L&R, dijo que su proyecto se realizara a lo largo de 8 años y que 405 millones seran invertidos.
El desarrollo del area de Howard, una antigua base aerea de la Fuerza Aerea de los Estados Unidos incluye el desarollo del puerto multimodal.
Debido a la existencia de la infraestructura area, que constituye la pista aerea mas grande de latinoamerica con un area de 2.75 km, ademas de la cercania con el canal de Panama, por el cual atraviesa el 60% del comercio hacia y desde Estados Unidos, hacen que el proyecto multimodal se perfile con excelentes expectativas.

El gobierno debe estar por aprobar por consejo de gabinete la ratificacion de este proyecto. Aunque este proyecto tampoco ha escapado del escandalo, por una supuesta relacion con inversionistas colombianos.
Despues del decreto del gobierno panameño, se espera que

London & Regional Panama

, entregue un plan maestro de desarrollo en un período de 3 meses.

Howard Development
London & Regional Panama

"It cannot be overstated that Panama now presents global opportunities non-existing in other neighboring latin american countries since the deprarture of the U.S. Howard, like many other former U.S. controlled sites in the former Canal Zone, have the advandage of haveing most of its former infratstructure in place; ie, residential home sites, buldings, roads, water, electricity, sewage, etc., requiring much less investment than would normally be expected for a development of this magnitude. The former US Air Force Base in Howard is the largest landing strip in Latin America and complete with hangers, towers, etc."
more on London & Regional Panama

Wednesday, March 07, 2007

Panama, casa grande, Playa Blanca

Casas Grandes Panama video in youtube.

casasgrandes panama in Panama City

Inversiones Natasha :: Real Estator of the Day


For more than 35 years, Natasha Sucre, have leaded inversiones natasha to the important spot they have in the real estate environment in Panama City, Panama.
Natasha Sucre Benjamín was president of the Acobir for 4 consecutive periods. (1997-1998; 1998-1999, 1999-2000,2002-2003). His son Ivan Carlucci is the actual president of Acobir.

Inversiones Natasha S.A and his staff that includes: Tanya Carlucci Sucre, Natasha Sucre, Natasha Carlucci Sucre, Maciel de Carlucci, Iván Carlucci Sucre and several other professionals with valuable experience in the real estate business that will help you find the right property or investment for you.


Related keywords: inversiones natasha, natasha, natasha panama, bienes raices natasha, bienes raices

inversiones natasha panama

Inversiones natasha panama

Inversiones Natasha S., A. It is located in el Cangrejo. In the intersection of Via Argentina and Calle Alberto Navarro, next to the Greenhouse restaurant. Natasha has been an emblematic icon in the real estate business in panama for more that 35 years. Their website totally designed in flash, has an impressive database with all the hottest projects in Panama.

Inversiones Natasha, S. A. is the prestigious real estate corporation with License CBR Nº 0001, issued by the Real Estate Technical Board of the Ministry of Commerce & Industry of the Republic of Panama. The prestige of Inversiones Natasha, S. A. is based on the efficiency, reliability and effectiveness of the services it provides for the real estate sector. The business is managed by Economist and Realtor, Natasha Sucre Benjamín, who, with more than 35 years of experience, is both locally and internationally well known for her valuable personality in the real estate field. Her team of specialist consultants consists of professionals on different areas of the real estate business; highly trained professionals with technical, economic, housing, and legal knowledge, ready to provide sound advice to the company’s customers so they may attain the best investment in real estate.
Inversiones Natasha, S. A. gives ongoing and innovative response to the growing development of the real estate activities in Panama, providing their customers with the best services; for this reason Inversiones Natasha is recognized as the number one in Real Estate business.
Inversiones Natasha, S. A. is a corporation that can handle all of your Real Estate needs, including:

• Purchase and sale of real estate.
• Advice on purchase property for investment purposes.
• Lease services of houses, offices, commercial properties, galleries, etc.
• Management of condominiums and other properties.
• Property appraisal.
• Project Planning and Development
• Advice on any type of real estate project development.
• Feasibility Studies for obtaining temporary financing.
• Advice on obtaining mortgage financing.

for more information visit

Brisas de Amador Panama

The ambitous project "Brisas de Amador" has almost completed its first stage
"Causeway Boulevard"
Actually it offers you

- 900 parking spots (will be 2,500 when completed)
- 13 restaurants
- 6 bars and discos
- Ice cream Parlor
- Bungee rope
- Canopy Tour

Causeway Towers

Imagine waking up with the panama canal view. It is an apart-hotel project with modules of 84mt2 and 211 mt2.

Port for Cruises

more information at

Relocating to Panama


The Advantages of Relocating to Panama
Lower Cost of Living
Quality of Life
Retiree Immigration Incentives
Medical Facilities
Flexible Incorporation Law
Asset Protection
Taxation Exemption
Ground Floor for Business Opportunities
Real Estate
Rainforest Heaven
Best Fiber-Optic-Cable Access & Bandwidth

Once you have decided this and the exact location for your new home, be it Boquete, Cerro Punta, Coronado, or any other place in Panama, MOLINA & CO will assist you. You must know the type of Visa you will obtain and the requirements and advantages of different types of Visa. Upon filling the Visa application, we will submit all required documentation for your Visa in David or in Panama City. At this point, Molina & CO will have the “Certificado de Recibo de Documentos en Inmigración (The Immigration Office Certificate of Received Documents)”, in which the Immigration Office states they have received your documents and they are being processed.

If you already have the “Carnet de Retirado (Retired ID)” (Pensionado Visa), the process is much easier as the “Certificado de Recibo de Documentos is not required.

The following are the documents required in order to process your shipment:

The Immigration Office Certificate of Received Documents or Retirement Visa.
Original or notarized copy of your passport (with photo page and the page with your most recent Panama entry stamp.
Original Bill of Loading, Air Way Bill or Express Release
Original Packing List without prices
Certification of bank account in the name of the retired citizen.
If you are requesting another type of visa, contact your moving company to review which documents are required.

Remember, it is the customs authorities who require these documents, not the moving company.

Panama Financing for Foreigners.. part 1

You have to be prepared when you apply for a mortgage in a local bank.
Most banks in panama will ask you this documents when you apply for a mortgage:

Photocopy of your entire passport (all pages including stamps)
Utility bill (showing your name and physical address)
Photocopy of one additional photo ID (Drivers License)
Curriculum Vitae (personal education & work resume)
Two (2) original bank reference letters
Two (2) original professional or commercial reference letters
Photocopy of bank statements for last 12 to 24 months
Las two (2) years tax returns (or audited financial statements)
Letter explaining your income sources & reason for the purchase of the property (personal residence, vacation home, rental property, investment, etc.)
Appraisal of the property (must be done by a bank-approved appraiser)
Purchase contract
Title deed of the property
Completed and signed bank mortgage applications and agreements

Please note, that most Panamanian banks require that all documents originating from outside of Panama, must be “authenticated,” either through the Panamanian Consulate in the home country (or region) of issue, or authenticated by “apostil” (an apostil is an internationally recognized form of notary/authentication).

so where to apply....
here is a list of banks

Cuentas Corrientes y Ahorros, Préstamos de Auto, Personales, Comerciales, Hipotecarios y Casacash, Tarjetas de Créditos y Banca en Línea

Prestámos Personales, Hipótecas Agropecuarias, Transferencias Internacionales, Cobranzas Internacionales, Giros, Tarjetas de Crédito Visa.

Préstamos con Garantía de Terrenos, Casas, Apartamentos y Automóviles

35 Años de Trayectoria, con el Mejor Servicio en Comercio Exterior, Hipotecas, Cuentas, Inversiones, Créditos Corporativos e Internacionales

Cls 50 y 56 ObarrioPANAMÁ - Panamá, PanamáTelefonos: (507)3021555Fax: (507)2639071

Cl 50PANAMÁ - Panamá, PanamáTelefonos: (507)2157000, (507)8006777, (507)3037000Fax: (507)2157134

Vía EspañaPANAMÁ - Panamá, PanamáTelefonos: (507)2690188Fax: (507)2644014

Tuesday, March 06, 2007

Procasa development in Panama

Here are some of the projects this new and important developement company has to offer


more information in

King Fisher Bay - Pearl Islands Panama

Pearl Island Real Estate is truly unique in several ways.
For one, it is veritably unspoiled island real estate. The Pearl Islands have mangaged to remain pristine, beautiful and virtually untouched over the years. Its water´s abound with wildlife such as: sea turtles, whales, dolphins, whalesharks, a huge array of game fish such as marlin, tuna, wahoo and sailfish to name a few. In the jungles of the Pearl Islands you can find such wildlife as, parrots, toucans, deer, iguanas, monkeys, agouties, and anteaters.
The Pearl Islands are also home to an incredible history dating back to the times of the Spanish Explorers. Many of the Pearl Islands served as hiding places for treasures looted by Pirates such as Henry Morgan, Sir Francis Drake and Balboa. In fact, last year a Spanish Galleon with over 50 million dollars worth of treasure was found off the coast of the Perlas Islands. At one point in its history, the Pearl Islands were famous for, you guessed it, pearls. The most famous of the Pearl Island Pearls is a A 31-carat, 400-year-old Peregrine pearl now owned by Elizabeth Taylor. Its previous owners included the Queen of Spain, a French Emperor and an English Queen.
Buying Pearl Island Real Estate is safe. In Panama, all foreign and national investors are guaranteed equal rights by law, furthermore, foreign investors do not require special authorizations, permits or prior registration. Foreign investors are encouraged to, and able to obtain Panamanian residency through several different venues. Additionally, because Panama has the stability of the US Dollar as its currency, a modern and extensive International Banking Center, low cost of living, labor and construction expenses it is one of the best business infrastructures in Latin America and the Caribbean. Additionally, Panama was recently voted one of the top 10 best countries to retire abroad in by the American Association of Retired Persons (AARP)

Skycrappers in Panama

Here is a list of skycrappers in construction and others have not started yet.

Visit for more information.

Buidings with more than 300 meters( )
1) Ice Tower, 104 floors - 381 mts. *Date of Start: June, 2006.
2) Faros de Panamá, Central Tower, 84 floors - 346 mts. *Date of Start: October, 2006.
3) Ocean One, 54 floors - 207 mts. *Date of Start: May, 2005.
2) Aqualina, 67 floors - 210 mts. *Date of Start: October, 2005.
3) Ocean Two, 70 floors *Date of Start: March, 2006.
4) Vitri, 72 floors *Date of Start: May, 2006.
5) Pearl, 70 floors *Date of Start: December,2006.

Projects about to start their construction
1) Torre Planetarium, 82 floors - 300 mts.
2) Trump Ocean Club Intl. Hotel & Tower, 68 floors - 293 mts.
3) Arts Tower, 80 floors.
4) Q Tower, 82 floors - 250 mts.
5) Waters, 74 floors - 245 mts. Date of Start: December,2007
6) Rivage, 68 floors - 208 mts. Date of Start: February,2007
7) Megápolis - (1st tower of 65 floors - Date of Start: Summer,2007)
8) Panorama Bay, 78 floors (Date of Start: May,2007)
9) Oceania Plaza - 2 Towers of 62 floors.

List of Panama Realtors

Panama Realtors Grupo Tribaldos Phone: (507) 300-2222 Fax; (507) 300-1087 email: (507) 716-0722 Commercial Center Pacific Seat - Ground floor Local Nº 5 End - Pacific City of Panama. Post-office box 0980 WTC. -

Palmetto Realty 011 (507) 6676-5818 P.O. Box 0819-02942 - Panama, Rep. of Panama

CENTURY21 Semusa Realty Panama City Office, Balboa Avenue, Multicentro Mall, Tel. (507) 202-2121 • Coronado Office, Corowalk Strip Mall Tel. (507) 202-2122

Byrseg Bienes Separated Raices S.A. 0819-08522 GILDED - (507) 236-5347/236-3598/236-2729

Panama Realtor Panama Office: +507-265-8545 - Panama Fax: +507-265-3601 Obarrio Galleries - 1st floor, office 67 - Via Spain - Panama City, Rep. of Panama

Villas de Cerro Lindo and a free Plasma 42 inches screen

When you buy one property here, you will get a free 42 inches plasma screen.

It is a walled urbanization that consists of 200 houses and that the security will offer them and tranquillity that you and their family is deserved. Surrounded by mountains and green landscapes Pretty Hill Villas, count full-featured that a modern urbanization must have: sentry box of security, streets of concrete, tank of water reserve, and more than 3.500,00 mts2, of green areas. All this and more single to 10 minutes of you take care of it, centric and near everything. For greater information it can communicate to 278-1240/1241/1242. Fax: 278-1243. Email: Can visit our house model of Monday Sunday of 10:00 a.m. to 6:00 p.m. Address: Via Tocumen, after Villa It obtains, entering by the Casa de Materiales, to two minutes of the entrance, left hand of the LaCastellana. We are next to the future exit of the Corredor Norte

Es una urbanización amurallada que consta de 200 casas y que les brindará la seguridad y tranquilidad que usted y su familia se merecen. Rodeada de montañas y paisajes verdes Villas de Cerro Lindo, cuenta con todas las facilidades que una moderna urbanización debe tener: garita de seguridad, calles de concreto, tanque de reserva de agua, y más de 3,500.00 mts2, de áreas verdes. Todo esto y más solo a 10 minutos de la cuidad, céntrico y cerca de todo.

Para mayor información puede comunicarse al 278-1240 / 1241 / 1242. Fax : 278-1243. E-mail: Puede visitar nuestra casa modelo de lunes a domingo de 10:00 a.m. a 6:00 p.m.


Vía Tocumen, después de Villa Lucre, entrando por La Casa de Materiales, a dos minutos de la entrada, mano izquierda de La Castellana. Estamos próximos a la futura salida del Corredor Norte.

for more information go here/para mas informacion

H2O- Panama new projects



Balboa Avenue, facing the ocean.


Specially designed for persons like you, featuring:

º32-story tower.

º153 apartments.

ºFour high-speed elevators.

ºElegant lobby.

With an excellent social area on the last floor with an ocean view, featuring:

ºInfinity pool.


ºParty salon.



Waters Panama Panoramic View



Balboa Avenue, facing the ocean.


º74-story tower. All apartments have ocean views.

ºThree apartments per floor.

ºSpectacular lobby.

ºSix elevators, plus a high-speed service elevator.

ºTotal of 174 apartments.

Features a complete and pleasant social area with the following:

ºParty salon.



ºSwimming pools.

ºJacuzzi and multi-use court.

Aqualina Apartments



Strategically located at Punta Pacífica, one of the finest areas in Panama City.


Condominium with a permanent ocean view

ºOne tower with three different areas

º144 apartments, all with ocean views

ºSix high-speed elevators

ºElegant lobby

Features a social area located on the first level, with a gymnasium, spa, tennis court, squash court, party salon for adults, party salon for children, games for children, pool and Jacuzzi.




A new building in Costa del Este, one of the finest residential areas in Panama City.

Features access routes from the South Corridor with reduced traffic conditions.


Setai was designed to provide luxury and comfort. The apartments have a practical floor plan that allows cross-ventilation to provide comfortable temperatures, at the same time permitting ease of decorating to your taste.

Arts Tower Panama



An impressive tower located in the heart of Balboa Avenue with a permanent ocean view.


A tower unique in its class featuring one and two-bedroom apartments, with penthouse options available.
ºLuxurious double-height lobby
ºCleaning service
ºHigh-speed elevators
ºValet parking
º24-hour surveillance
ºSwimming pool, spa and gymnasium
ºRacketball court
ºEvents salon
ºZen gardens

ºApartments with one or two bedrooms and baths
ºLuxurious finishes
º9.5 ft. floor-to-ceiling height
ºLaundry area
ºVisitor's bath
ºWalk-in closets

Vitro Loft Project Panama


Between 53rd Street and Eric del Valle in El Cangrejo, behind the Hotel El Panama.


ºAn apartment tower

ºThirteen floors of double height apartments

ºSpacious lobby

ºFour parking levels

ºPartial service emergency power plant

ºThree elevators

ºFire detection system

ºClose to the banking area and the best universities

º24-hour surveillance

ºReserve water tank

ºAdministrative office

ºFour business locales with mezzanines (double height)

Pacific Village Panama



In one of the finest areas in Panama City: Punta Pacífica.


A luxurious residential complex consisting of spectacular apartment towers facing the ocean in a private community surrounded by green gardens, entertainment areas and a unique environment, all with high safety standards and the finest benefits for its residents.

Acqua Front Plan



In Costa del Este, one of the finest areas in Panama City.


Luxurious and majestic apartments with:

ºThree bedrooms

ºThree baths

ºVestibule with natural lighting at the entrance

ºLiving room


ºDining room

ºSpacious terrace with ocean view

ºFamily room

ºLinen closet

ºKitchen with breakfast area

ºVisitor's bath


ºMaid's room with bath

ºService entrance

ºMaster bedroom with walk-in closet

ºLarge bath with ocean view in the master bedroom

PIMM project in Free Zone Panama in Colon

Panama International Merchandise Mart (PIMM) is a project that will reach 1 Billion in investment.

PIMM will be a complex with more than 672 exhibition areas and deposits for merchandise. It will require more than 50 million dollars of investment in the primary stage of development.

The CFZ has grown rapidly to become the second largest free zone in the world, after Hong Kong. The CFZ, in existence since 1953, was a base for 460 companies in the late 1980s. Goods from foreign countries were landed and stored or repackaged there and shipped onward without being subject to Panama's customs duties.

According to La Prensa
"Un centro especializado para atender a comerciantes mayoristas operará en un área total de 37 hectáreas en Cristóbal, provincia de Colón, informaron sus promotores.

El Panama International Merchandise Mart (PIMM) consistirá en un complejo formado por 672 salas de exhibición y depósitos para mercancía, todo lo cual requerirá de una inversión de 50 millones de dólares solo en la fase inicial.

Al explotar toda su capacidad de crecimiento, el costo total del proyecto alcanzará los mil millones de dólares para 2015."

Pacific Point Tower 200



In Punta Pacífica, the most priviledged area, with a spectacular view of the ocean.


Pacific Point is the most prestigious and exclusive residential project in Panama. Its modern architecture, ample spaces for recreation, gardens, fountains, playgrounds and green areas make Pacific Point the most desired residence in Panama City.

The project comprises impressive towers with luxurious apartments, two exclusive villas and 20 lots for residences, all in view of the most beautiful daybreaks in front of the Pacific Ocean.

For recreation and entertainment for residents of all ages, the building features spectacular social areas that offer:

ºSwimming pool for adults

ºSwimming pool for children


ºRoofed terrace

ºSauna for men and women

ºEvents salon for approximately 125 people

ºTable games salon

ºBirthday celebration salon

ºChildren's games salon




ºTypical 389 m² (4,186 ft²) apartments

ºPenthouses from 682 m² (7,338 ft²)

ºOne 1,000 m² (10,760 ft²) Grand Penthouse

Mandarin Bay Panama


In San Francisco, with easy access to the main streets in Panama City, and just one minute from the South Corridor.


It offers unequaled advantages for decoration.

Its strategic floor plan and ample spaces allow various options for decorating. Natural light fills the apartment and creates a warm and peaceful environment where you will spend many pleasant moments.

Every sunset is unique, and now you will be able to see them all from the comforts of your home with the most spectacular view of Panama's bay.

The condominium offers:

ºOne master bedroom with walk-in closet and bath

ºFamily studio

ºLarge living room

ºA comfortable dining room

ºA balcony for spending romantic moments and cool evenings while enjoying the beauty of the ocean



ºMaid's room with bath

ºTwo parking spaces per apartment

ºVestibule for cars

ºHigh-speed elevators

º24-hour surveillance

Jobs in Panama, Empleos en Panama

The economic growth in Panama is noticeable. No doubt about it.
You can see it. You can read about it. But locals and immigrants need jobs.

Where in Panama can u find a job?

If you are looking for a job or maybe you want to change your work environment here is a list of good resources.

Web Sites
Mas Trabajo


Estas contratado

Mas Trabajo

Es tu empleo

Adecco Panama

Empleos Amilesa

Good will Panama for handicapped and mentally challenged people

Call centers
Star Contact

Local Newspapers and classifieds
Panama America

Encuentra 24 Jobs

Learn 4 good job openings

Accion Trabajo Panama

Expocomer Panama 2007

Expocomer Panama 2007, will take place at the Atlapa Convention Center, in march 7-10, with an special 25th anniversary edition.
The biggest international comercial fair in Latin America and the Caribbean, celebrates its first 25 years of success. The world is changing and business with it. Expocomer evolves and answer the needs of our sponsors and clients. International companies make an intense commercial exchange with transactions that surpases 100 of millions of dollars.

1,100 - It is the number of companies, from more than 33 countries, that will participate in Expocomer 2007
Expocomer Panama 2007 , it is a multisectorial exposition.
The more important categories in Expocomer are: food, fabrics, construction, technology and services.
Taiwan has the record of 71 modules, just followed by south americans. Brazil has 60. A total of 640 modules signed in for this year edition of Expocomer,

The orador of the inauguration will be the writer Carlos Alberto Montaner, vice-president of the Foundation Internacional for the Freedom.

Monday, March 05, 2007

Como Emigrar a Panama

The Panamanian government has created several laws which, depending on the particular type of visa applied for, enable foreigners to obtain legal temporary or permanent residency, work permits, and in some cases citizenship and / or passports in the Republic of Panama. Most of these laws have been created to promote foreign investment in the country which benefits the local environment or local economy of Panama.

El gobierno de Panama, ha creado muchas leyes dependiendo del tipo de visa en el que quieras aplicar, las cuales permiten a extranjeros obtener visas de residencia, permisos de trabajo y el algunos casos ciudadanía y/o pasaportes de la republica de Panama. la mayoria de estas leyes promueven la inversion en el pais, lo cual redunda en beneficios para la economía de Panama

Algunos de los programas para emigrar a panama,estan listados a continuacion. Algunos son para permisos temporales, residencia permanente, ciudadania y pasaportes. Permisos tempotrales de trabajo.

Below we have listed several immigration programs. Some of these programs offer temporary or permanent residency, citizenship, and passports and others may not. Some of these programs only offer temporary resident visas, or work permits.

Please read through the programs and determine which is the best for you:

Programs offering Immediate Panamanian Passport:

- Immediate Passport Program

Programs offering Permanent Residency & Passport:

- Self Economic Solvency Visa
- Agricultural Investor Program
- Small Business Investor Program
- Tax Free Processing Zone Investor Program
- Reforestation Visa (New)

Programs offering Permanent Residency only:

- Retired or Pensioned Program

Programs offering Temporary Work Visa only:

- City of Knowledge Work Visa

Programs offering Temporary Immigrant Visa only:

- Missionary Visa
- Student Visa

Multiple Entry & Exit Visa (Optional):

Multiple Entry and Exit Visa

more information here

Mel Gibson, real estate? not really...

Mel Gibson recent visit created curiosity in the local media, since the very moment he presented his passport at the Tocumen Airport, the local workers called immediately to La Prensa, a local newspaper, and then the tracking begun.

Rumors started about Gibson recently bought front beach properties, even an island.

Well, according to la Prensa, he was looking for locations for a movie he would make about the spanish conquistador, Vasco Nuñez de Balboa.

"Balboa: soldier and dreamer", is an script that the panamanian José Chevy Severino, wrote about the discoverer and conqueror, that became the first european to see the pacific ocean, that he called "Mar del Sur".

Gibson in his shor visit to Panama, visited in helicopter famous spots in Panama, mentioned in the Severino script as Gamboa and the tropical star lodge in Darien.

Balboa Park will be moved


The iconic "Balboa Statue" in the Balboa Avenue, will be relocated because of the future expansion of the South Corridor "Corredor Sur" that will help decongestionate the evil traffic jams in peak hours in this important way of the panamanian capital.

Balboa statue fill still face the south. This beautiful park was once part of the gardens of the Hopital Santo Tomas, also known as the "people's hospital".

The go of this project is set for 2008.

PSA to construct a Megaport in Panama

The harbor giant of Singapur, PSA the International, will construct a terminal of containers in the Panamanian Pacific, informed yesterday the minister into commerce and industry, Alexander Ferrer.The beginning of the construction and cost of the investment, to be made in the area of Rodman, old military base of the United States, not yet has been revealed.PSA is the third singapurense company in settling in Panama, after the company/signature of the Free Trade Agreement between both countries, in 2005.The company handles ports in Singapur, Europe, China and Thailand, is in addition one to the four preclassified to participate in a licitation for the Panamanian project “megapuerto”, which will be constructed in an area of 112 hectares and includes wharves of 1.600 meters in wide length by 750 meters and capacity for the installation and operation of 18 cranes “post Panamax” (ships of more than 160.000 tons).The cost considered of his first stage is of approximately 600 million dollars, and already finished, will allow to the simultaneous dockage of two ships “post Panamax”, that are those that by its size, cannot happen through the sluices of the Panama Canal. The port will allow a maximum openwork of 15.0 meters and will have capacity to handle 2,4 million annual containers.The construction of “megapuerto” contemplates the construction of a marine filling whose cost comes near to the 250 million dollars.Minister Ferrer received the week last to representatives of the company Royal Vopak, independent operator of tanks of product storage derived from petroleum, that showed the possibility of installing a terminal in Panama

Figali and his marina.

photo by La Prensa
Jean Figali, colombian-panamanian investor, whom project development is on a legal hold, not so effective by the way, because although local authorites ordered a suspension of the marine filling he already started to build.

Figali's well known relations with the previous goverment administration, and his "compadre" William Spadafora, member of the Supreme Court, eased his papeword and permissions for the construction.

He argues that the extinct ARI (Autoridad de la Region Interoceanica) gave him all the required permissions to carry on his multimillionaire project. And of course his compadre rules always in his favor, what a convenient law. Thanks god panamanian blood is as cold as fish.

here i attach a translated extract from La Prensa that dates Panama, Wednesday 13 of 2005
"Once again, the Supreme Court of Justice - specifically the Room Third generates controversy. In this occasion one is a case that it has like protagonist to Jean Figali, a member of the circle of friendships of the ex- president of the Republic Mireya Moscoso.
The located land industralist and concessionaire affluent Loving in - to that granted a diplomatic passport to him during the government of Moscoso- obtained from the Room Third of the Court, and with the communication of the magistrate Winston Spadafora, the “immediate suspension of the effects of Note ARI-AG-4491-2004 of 1 of December of 2004, emitted by the Authority of the Region Interoceánica (ARI)”.
By means of the failure of the 22 of June - objected by the magistrate Adam Arnulfo Arjona- the International with the institution is tried to lapse the decision of the ARI to maintain the use of the debt of Group F. and that until the 30 of November of 2004 surpassed the 2 million dollars.
Figali had asked for to the ARI the “comparison” of the renting with other areas of Loving, with the objective to obtain a reduction in the price agreed originally.
Like answer to their request, the ARI independently proposed a gradual formula of payment for the cancellation of the dilatoriness that determined to maintain, that the institution acceded or not to its request of “comparison”.
Thus, the note that soon was resorted by Figali before the Room Third of the Court determined that “the comparison does not operate of retroactive way and, therefore, its debt before the ARI stays”.
The relations of Figali with the last administration allowed the organization him of the aid of beauty Universal Miss 2003 in the Figali Convention Center de Amador.
There same, but it makes two months single - the 29 of April, the fight of world-wide championship was carried out mini fly. That night, in which the Vásquez Spider prevailed the Panamanian Robert, the Figali industralist shared his table with the ponente of the case, the magistrate Winston Spadafora. "