Category: Life in Panama

The Ultimate Guide to Your Plan B in Panama

Everything about real estate, residence permit and bank account in Panama!

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FRAPAN-Invest

Klaus Happ’s company “FRAPAN-Invest” advises investors who want to invest in real estate in Panama. He offers advice on all aspects of living in Panama.

The real estate market in Panama is internationally one of the most interesting for investments. We would like to be your trusted local partner and assist you with the initial purchase. Additionally, we can take care of your real estate in Panama in a sustainable way.

Profitable, safe and beautiful:
Investments in Panama

Protests in Panama

Panama is a quiet and peaceful place to live. However, in July there were protests and street blockades, the likes of which have not been seen in over 30 years. In the meantime, the situation has returned to normal. Find our report on the background here.

In July, there were mass protests and street blockades all over the country. This was triggered by the increased cost of living and expensive energy prices, which the whole world is currently struggling with. This was joined by demonstrations against the ever-smouldering issue of corruption and other issues that are a thorn in people’s side. Basically, people in Panama like to demonstrate peacefully, but not in a way that affects the country’s transport system and infrastructure.

This time, however, the protests were more violent and partly deliberately organised by trade union groups (including the construction union), associations and other groups that wanted to fuel the mood and exploit it for their own benefit.

After all, presidential elections will be held in 2024 and the election campaign will start soon. This is where an unsettled mood and publicity-grabbing pictures in social media are to the advantage of one or the other. And if you then bring your own photographers into the crowd and create exaggerated images, you exaggerate the event in your favour.

The provinces of Chiriqui and Veraguas, which are located in the interior of the country, were the centre of the largest protests. Here there were some clashes with the police and complete road blockades of the Panamaericana, which is by far the most important traffic artery and connects the country.

In the capital Panama City, things were comparatively quiet. But the protests in the interior had a short-term impact on supplies in the supermarkets, because the country’s own products such as vegetables were stuck on the Panamericana.

The unanimous opinion of the people in Panama we spoke to is that protests (especially against corruption) are good as long as they remain peaceful and meaningful. But the protesters, who took to the streets for the “people”, have partly harmed themselves. Less well-stocked supermarket shelves and farmers and other traders who made huge losses and had to throw away their products.

At the beginning of the protests, the government had hidden and hoped that the problem would solve itself. But now the government has been sitting at the table with the different interest groups (and there are many of them…) for weeks to find solutions and compromises. The government has made several concessions, including subsidising fuel prices and “freezing” the prices of other staple foods. Negotiations are still ongoing, including on the prices of medical and pharmaceutical products.

The people responsible for stopping the trucks carrying food have now been arrested.

These protests cannot be compared to the violent protests in other countries in Central and South America. But they should be a warning to the government to tackle the problem of corruption in a targeted way and to distribute the country’s large revenues (from the Panama Canal, among other things) fairly and invest them sensibly (education and medical care for all strata of the population, etc.).

Extreme parties from the left and right have never had a chance in Panama, because the population is aware of the bad developments in other Latin American countries. This can also be assumed in the 2024 elections.


FRAPAN-Invest

Klaus Happ’s company “FRAPAN-Invest” advises investors who want to invest in real estate in Panama. He offers advice on all aspects of living in Panama.

The real estate market in Panama is internationally one of the most interesting for investments. We would like to be your trusted local partner and assist you with the initial purchase. Additionally, we can take care of your real estate in Panama in a sustainable way.

Profitable, safe and beautiful:
Investments in Panama

Corona Virus in Panama / Update 29 November 2021

The Corona situation in Panama is very good and the country is great to travel around with the current start of summer. There are almost no more curfews. Below you will find information around the Corona situation, the vaccination strategy and the impact of the pandemic on life, travel and the economy.

Health (figures as of 28 November 2021)

  • There are currently 2.693 active cases.
  • The R-value is 0,86.
  • The 7-day incidence is 33.
  • Panama performs the same number of tests per capita as Germany.
  • The percentage of positive tests is currently 2 – 5% daily.
  • The intensive care beds have never been fully utilized.
  • Corona vaccination (90% Biontech/Pfizer und 10% AstraZeneca) started in Panama in January.
  • Almost 90% of those over 12 are fully vaccinated.
  • There is no mandatory vaccination.
  • The graph shows the weekly trend (March 20 – Nov 21) of new infections (bars) and the test positive rate (curve / data link).

Economy

  • All sectors of the economy are open.
  • Current estimates predict economic growth of +12% in 2021 (2020: -17%).

Life in Panama

  • In Panama City and in almost all other regions, there are currently no longer any curfew restrictions.
  • There is still a mask requirement, which also applies outdoors. This is to be lifted, but the date has not yet been fixed.
  • The government measures the corona risk of the individual regions on the basis of certain indicators (R-value, hospital occupancy rate, etc.) and adopts region-specific measures on the basis of this.

Travel to Panama

  • Fully vaccinated persons may enter Panama without presenting a Corona test. Current entry regulations can be found in the previous link.
  • Panama offers vaccination trips for tourists to get vaccinated against Corona in Panama from 01 October 2021.
  • Departing travelers can take a Corona test at Panama City Airport (if required by their home country).

FRAPAN-Invest

Klaus Happ’s company “FRAPAN-Invest” advises investors who want to invest in real estate in Panama. He offers advice on all aspects of living in Panama.

The real estate market in Panama is internationally one of the most interesting for investments. We would like to be your trusted local partner and assist you with the initial purchase. Additionally, we can take care of your real estate in Panama in a sustainable way.

Profitable, safe and beautiful:
Investments in Panama

Corona Virus in Panama / Update 04 October 2021

The corona situation in Panama has strongly improved and is at a stable level. There are almost no more curfews. They now offer Corona vaccination trips to Panama for tourists from neighbouring countries, as they are doing very well with the vaccinations in Panama. There is no mandatory vaccination. Below you will find information around the Corona situation, the vaccination strategy and the impact of the pandemic on life, travel and the economy.

Health (figures as of 03 October 2021)

  • There are currently 3.095 active cases.
  • The R-value is 0,82
  • Panama performs the same number of tests per capita as Germany.
  • The percentage of positive tests is currently 2 – 5% daily.
  • The intensive care beds have never been fully utilized.
  • Corona vaccination (Biontech/Pfizer und AstraZeneca) started in Panama in January. Approximately 70% of the population have received at least one dose of vaccine and 50% are fully vaccinated.
  • 75% of those over 12 are fully vaccinated.
  • There is no mandatory vaccination.
  • So far, 10% of the Panamanian population has been infected with Corona. Taking into account the estimated number of unreported cases, this figure should be about 25%, which is much closer to herd immunity.
  • The graph shows the weekly trend (March 20 – Sept 21) of new infections (bars) and the test positive rate (curve / data link).

Economy

  • All sectors of the economy are open.
  • The support payment for socially weak people is 120 USD per month. As unemployment has skyrocketed, this amount is barely enough for many poorer families.
  • Current estimates predict economic growth of +12% in 2021 (2020: -17%).

Life in Panama

  • In Panama City and in almost all other regions, there are currently no longer any curfew restrictions. Exceptions are Colón, Panama Oeste and Chiriquí (daily 01.00am – 04.00am).
  • There is still a mask requirement, which also applies outdoors. This is to be lifted, but the date has not yet been fixed.
  • The government measures the corona risk of the individual regions on the basis of certain indicators (R-value, hospital occupancy rate, etc.) and adopts region-specific measures on the basis of this.

Travel to Panama

  • Since 12 October 2020 Panama Citys International Airport is open again.
  • Fully vaccinated persons may enter Panama without presenting a Corona test. Current entry regulations can be found in the previous link or on the page of the German Foreign Office.
  • Panama offers vaccination trips for tourists to get vaccinated against Corona in Panama from 01 October 2021.
  • Departing travelers can take a Corona test at Panama City Airport (if required by their home country).

FRAPAN-Invest

Klaus Happ’s company “FRAPAN-Invest” advises investors who want to invest in real estate in Panama. He offers advice on all aspects of living in Panama.

The real estate market in Panama is internationally one of the most interesting for investments. We would like to be your trusted local partner and assist you with the initial purchase. Additionally, we can take care of your real estate in Panama in a sustainable way.

Profitable, safe and beautiful:
Investments in Panama

Corona Virus in Panama / Update 21 July 2021

In recent weeks, there has been a slight increase in Corona numbers in Panama. Numbers have stabilized, progress is being made with vaccination in Panama, and all sectors of the economy are open. Below you will find information around the Corona situation, the vaccination strategy and the impact of the pandemic on life, travel and the economy.

Health (figures as of 20 July 2021)

  • There are currently 13.133 active cases.
  • The R-value is 0,99
  • The mortality rate is 1.6% (global average 2.2%)
  • Panama performs the same number of tests per capita as Germany.
  • The percentage of positive tests is currently 7 – 10% daily.
  • The intensive care beds have never been fully utilized.
  • Corona vaccination (Biontech/Pfizer und AstraZeneca) started in Panama in January. Approximately 30% have received at least one dose of vaccine and 16% are fully vaccinated.
  • Since Panama has a very young population (Ø 26 years), people aged 60 and over were already vaccinated in phase 1.
  • So far, 10% of the Panamanian population has been infected with Corona. Taking into account the estimated number of unreported cases, this figure should be about 25%, which is much closer to herd immunity.
  • The graph shows the weekly trend (March 20 – July 21) of new infections (bars) and the test positive rate (curve). The sharp increase in June 2021 began with the economic opening. The increase in November 2021 is due to the holidays in early November (data link).

Economy

  • All sectors of the economy are open.
  • Restaurants and stores in Panama City (other regions may differ) are allowed to open until 11.00 p.m., although many restaurants, hotels and stores are still closed.
  • The support payment for socially weak people is 120 USD per month. As unemployment has skyrocketed, this amount is barely enough for many poorer families.
  • Current estimates predict economic growth of +12% in 2021 (2020: -17%).

Life in Panama

  • The government measures the corona risk of the individual regions on the basis of certain indicators (R-value, hospital occupancy rate, etc.) and adopts region-specific measures on the basis of this.
  • In Panama City there is currently a curfew from 0.00am – 04.00am daily.

Travel to Panama

  • Since 12 October 2020 Panama Citys International Airport is open again.
  • Current entry regulations (as of 26.07.2021) can be found in the previous link.
  • Departing travelers can take a Corona test at Panama City Airport (if required by their home country).

FRAPAN-Invest

Klaus Happ’s company “FRAPAN-Invest” advises investors who want to invest in real estate in Panama. He offers advice on all aspects of living in Panama.

The real estate market in Panama is internationally one of the most interesting for investments. We would like to be your trusted local partner and assist you with the initial purchase. Additionally, we can take care of your real estate in Panama in a sustainable way.

Profitable, safe and beautiful:
Investments in Panama

Travelling in Panama in Corona Times / March 2021

What is it to travel in Panama in Corona times? What can you do during a long weekend in Panama. Klaus Happ talks about his experiences during his trip in Panama in March 2021 in his video. Just click on the video BELOW to learn more.

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FRAPAN-Invest

Klaus Happ’s company “FRAPAN-Invest” advises investors who want to invest in real estate in Panama. He offers advice on all aspects of living in Panama.

The real estate market in Panama is internationally one of the most interesting for investments. We would like to be your trusted local partner and assist you with the initial purchase. Additionally, we can take care of your real estate in Panama in a sustainable way.

Profitable, safe and beautiful:
Investments in Panama

Corona Virus in Panama / Update 26 March 2021

The Corona situation in Panama is currently good, as new infections have been falling steadily in recent weeks and are at a low level. All sectors of the economy are open. Below you will also find more information on Corona vaccination in Panama.

Health (figures as of 25 March 2021)

  • There are currently 5.030 active cases.
  • The R-value is 0,91
  • The mortality rate is 1.7% (global average 2.2%)
  • Panama performs the same number of tests per capita as Germany.
  • The percentage of positive tests is currently below 5% daily.
  • The intensive care beds have never been fully utilized.
  • Corona vaccination started in Panama in January.
  • The goal is to have 84% of the population vaccinated by the end of the year. The current figure is 8%.
  • 5.2 million doses have been ordered (Biontech/Pfizer, AstraZeneca, Jonson & Johnson) and negotiations are underway for an additional 3 million doses of Sputnik V vaccine.
  • Since Panama has a very young population (Ø 26 years), people aged 60 and over were already vaccinated in phase 1.
  • So far, 8,5% of the Panamanian population has been infected with Corona. Taking into account the estimated number of unreported cases, this figure should be about 20%, which is much closer to herd immunity.
  • The graph shows the weekly trend (March 20 – March 21) of new infections (bars) and the test positive rate (curve). The sharp increase in June began with the economic opening. The increase in November is due to the holidays in early November (data link).

Economy

  • All sectors of the economy are open.
  • Restaurants and stores are allowed to open until 10.00 p.m., although many restaurants, hotels and stores are still closed.
  • The support payment for socially weak people is 120 USD per month. As unemployment has skyrocketed, this amount is barely enough for many poorer families.
  • Current estimates predict economic growth of +9,9% in 2021 (2020: -17%).

Life in Panama

  • The government measures the corona risk of the individual regions on the basis of certain indicators (R-value, hospital occupancy rate, etc.) and adopts region-specific measures on the basis of this.
  • Throughout Panama there is currently a curfew from 11.00pm – 04.00am daily and in the greater Panama City area additionally on weekends.
  • Beaches are open from 06.00am – 06.00pm.

Travel to Panama

  • Since 12 October 2020 Panama Citys International Airport is open again.
  • Visitors (regardless of where they come from in the world) must present a Corona negative test (max. 48 hours old) or alternatively take a rapid test at the airport in Panama. If the test is positive, you will be quarantined in Panama.
  • Departing travelers can take a Corona test at Panama City Airport (if required by their home country).

FRAPAN-Invest

Klaus Happ’s company “FRAPAN-Invest” advises investors who want to invest in real estate in Panama. He offers advice on all aspects of living in Panama.

The real estate market in Panama is internationally one of the most interesting for investments. We would like to be your trusted local partner and assist you with the initial purchase. Additionally, we can take care of your real estate in Panama in a sustainable way.

Profitable, safe and beautiful:
Investments in Panama

“Golden Investor Visa” in Panama

The new “Golden Investor Visa” in Panama allows investors to apply for their second residence from abroad and receive it after just 30 days. This visa type requires an investment e.g. in real estate of at least 300,000 USD (from October 2022 it will be 500,000 USD) and a holding period of at least five years. All existing visa types in Panama will continue to exist and after 5 years you can apply for your Panama passport and citizenship. However, there are plans to make the Friendly Nations visa more difficult. This is the easiest form so far. Click on the link to find our “Visa & Invest Factsheet” with all information.


FRAPAN-Invest

Klaus Happ’s company “FRAPAN-Invest” advises investors who want to invest in real estate in Panama. He offers advice on all aspects of living in Panama.

The real estate market in Panama is internationally one of the most interesting for investments. We would like to be your trusted local partner and assist you with the initial purchase. Additionally, we can take care of your real estate in Panama in a sustainable way.

Profitable, safe and beautiful:
Investments in Panama

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