Archive for Category ‘About Panama’

General Information

March 8th, 2015
Carro Avión Barco_opt

TAXIS

Sometimes it seems Panama has more taxis than mangos. Sometimes, if it is raining at knockoff time, it seems there are no taxis at all. In Panama City fares are based on a zoning system. A cabbie must show you his zoned map of the city if you challenge his charge.

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Immigration

March 8th, 2015

  ENTRY REGULATIONS

A tourist can remain in Panama for 90 days. This is normally not extendable but exceptions can be made for such valid reasons as visiting family members or for medical reasons. In these cases visitors must apply for a Short Term Visa (Check the related article about the Type of Visas).

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Welcome to Panama

February 15th, 2014

It’s more than just a canal…. much more. And what you find in Panama depends on what you are looking for. And if you’re not quite sure what that is, don’t worry. Look what Vasco Nunez de Balboa found in Panama — the Pacific Ocean.

Since then, visitors have been making discoveries about this very special country.… Read the rest

Business

February 14th, 2014
Business in Panama

 Panama’s economy grew 10.5 percent in 2012 and is projected to moderate to 8 percent in 2013. A steady flow of investment is ensured by top ratings awarded by the “big three” risk assessment agencies. Standard & Poor’s raised Panama from BBB3 to BBB2 with a “stable outlook”. Fitch Ratings affirmed Panama’s sovereign ratings at BBB and Moody’s gives a rating of BAA3.

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Company Law

February 8th, 2011

Panamanian commerce is based in one of the world’s few truly service-dominated economies. Industries such as banking, insurance, shipping and transport, "offshore" business and import/re-export account for between 75% and 80% of the GNP and the dynamic of the sector requires constant change. The number of companies registered in Panama –the majority of which deal with the aforementioned services– is approximately 350,000, a number exceeded only by those of Hong Kong, which has close to 400,000.… Read the rest

Labor Laws

February 7th, 2011

Panama has a relatively small labor pool (Government statistics for 1999 listed approximately 1.5 million persons as "employable.") and this tends to limit availability in upper-echelon positions. As a rule, Panamanians respond well to in-house training and the bilingual workforce (especially Spanish-English) is proportionately quite large.

Unionism is not as prevalent as in European countries and the United States and tends to be centered in the construction, government works and private manufacturing sectors.… Read the rest

Economy

February 7th, 2011

Panama escaped the world economic crisis with relatively minor repercussions. Elements like port activity and Panama Canal cargo volume dropped in line with international business but the effects were light and the economy grew by nearly 7 percent in 2010.

Big investments, not to mention the $5.2 billion enlargement of the Canal, have been causing a snowball effect, reaching down into nearly every economic activity.… Read the rest

Government

February 1st, 2011

The Panamanian nation is organized as a sovereign and independent state, known as the Republic of Panama. The power is solely vested in the people and exercised by the state, which functions through the Executive, Legislative and Judicial branches, as is expressed in the first two articles of the Political Constitution of the Republic of Panama, which lays down the social, economic and political principles of the country.… Read the rest

Panama’s History

February 1st, 2011

A summarized version

Archaeological evidence indicates that Panama has been inhabited for over twelve thousand years. Early inhabitants left a rich store of pottery and burial sites to mark their passing.

Spanish colonization began in the 16th century and lasted till 1821 when Panama, Colombia, Venezuela and Equador formed a union called Gran Colombia and declared independence from Spain.… Read the rest


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