| One of the most common questions I get -
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| | Panama we are immediately accepted - we
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| "Is Panama a safe country?"
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| | tend to blend in.
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| Yes, without a doubt. In fact Panama has
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| | The US dollar contributes to safety as
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| been ranked one of the safest tourist
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| | well. Often when traveling in foreign
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| destinations in the world right along
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| | countries we are taught to keep our
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| side Canada. Let me give you some
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| | dollars out of sight - it's just too
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| personal examples and then let me give
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| | tempting to the locals. In a country
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| you some additional reasons why I believe
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| | where the local currency may be devalued,
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| Panama is so safe.
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| | the US dollar has a certain allure. But
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| For some time we lived near the village
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| | in Panama everyone is using the same
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| of Boquete in the highlands region. It
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| | money be they a farmer, banker or
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| was a daily scene - young children and
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| | tourist.
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| young women walking many miles to work or
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| | Another Safety issue many investors fail
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| school. My wife and I are exercise
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| | to consider is the weather. In recent
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| addicts and you might recall we were in
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| | years hurricanes throughout the southern
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| the health club business. At that time
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| | US and most of Latin America have brought
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| there were no health clubs in the area so
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| | this issue to the forefront. As you saw
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| I purchased a used mountain bike. I just
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| | in my last Letter about Safety, Panama
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| found one so my wife and I had to share.
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| | lies in a unique region where violent
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| Each morning I would go out around 6am
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| | weather is almost unheard of and it is
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| and then about 7am my wife would go. She
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| | the only Latin American country which is
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| would cycle through town and out of town
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| | Hurricane Free - that's right, records
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| on the quiet winding country roads for
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| | dating back to 1851 show that Panama is
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| about 10 km. Not once did she feel
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| | in a safe zone where hurricanes never
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| unsafe. At the time my boys were just 11
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| | hit. (Click on this image to see the map)
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| & 9. They would walk out to the road and
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| | As investors from Florida to Texas can
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| grab one of the local taxis, pay 25c each
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| | attest rising insurance rates can take a
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| and get a lift into town where they would
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| | dramatic bite out of your return. In
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| buy 25c ice cream. Honestly, I would not
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| | Panama your vacation and your investment
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| have had that much comfort and trust back
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| | will never get blown away!
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| in our home town in Ontario Canada. In
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| | It's also very safe to buy Real Estate in
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| fact I wouldn't have done it there.
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| | Panama
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| So what makes Panama so safe?
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| | Foreigners, whether residents or
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| First, I believe we need to look back at
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| | non-residents, enjoy the same rights and
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| Panama's history. Panama is a peaceful
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| | privileges when purchasing and selling
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| republic and for most of the past century
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| | real property as do Panamanian citizens.
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| has been under the watchful eye of the
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| | Foreign investors are given a 10-year
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| United States. Today's Panama was born of
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| | stability guarantee that all legal, tax,
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| a multi-culture mix of peoples from
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| | customs, municipal and labor rules will
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| around the world thanks to the Panama
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| | remain identical to those in force at the
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| Canal. To this day the people debate "Who
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| | time of the investment registration. Law
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| is the true Panamanian?" Most agree that
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| | # 54: Foreign Investor Protection Law
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| the 7 indigenous tribes probably have the
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| | provides these guarantees
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| best claim. For the rest they are all
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| | The U.S. Embassy publishes the U.S.
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| immigrants of one sort or another. As a
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| | Government Report on Buying Panama Real
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| result it is difficult to tell the
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| | Estate and says, "Titled land, and the
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| Panamanians from the visitors. You may
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| | process of buying this, is similar in
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| see someone who looks very much like an
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| | concept to that in the U.S., and land and
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| American, a Canadian, maybe they are from
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| | deeds are duly recorded with the Public
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| India or China - the reality is they
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| | Registry".
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| could all be Spanish speaking 2nd or 3rd
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| | Buying real property in Panama is so safe
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| generation Panamanians. Because of the
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| | that major U.S. Title Insurance companies
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| multicultural mix of the country no one
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| | like like Land America Title provide low
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| really stands out as a foreigner - or
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| | cost policies in Panama.
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| different. So, when you or I arrive in
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