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The once known city with a Canal is now known for real estate boom in Panama. With stunning forest and its interesting ecosystems, tropical climate, attractive beaches and affordable commodities, the convenient geographic location are just some of the reasons for the real estate boom in Panama. People from America, whether investors, retirees, vacation seekers, or individuals or families who wish to relocate outside the US considers Panama as the perfect place. By word of mouth or by various investment opportunities in Panama knocking at the doors of these people, real estate boom in Panama has been real in the recent years. Most developers are hoping that it will be sustainable in the coming years as demands are over its supplies.

Panama has a strategic location in Central America. It relies in the isthmus which means that is borders the North and South part of America. It has diverse opportunities for economic development as it serves international trade, commerce and shipping. However, its economy is mainly into service industry which comprises 80% percent of the Gross Domestic Products. The economy of Panama in the service industries includes finance, health, insurance, telecommunications, transportation, banking, maritime service and Canal, logistics due the Colon Free Zone and the strategic ports, tourism and general commerce.

As Panama is mostly visited by tourists as a developing country and one that is involved in trade, tourism, real estate, commerce, and banking, it can be observed that there are many interesting facts about Panama that may range from infrastructure, economy, politics and its culture. The interesting facts about Panama leave a trademark of what Panama is all about. There are several points that can be marked but we can just limit it to the six most common among many observations on Panama.

Panama banks are part of Panama’s International Banking Center, the most modern and most successful in all of Latin America. It is only a single step comparing behind Switzerland. Panama banks number more than 100 banks operating in more than 300 offices from more than 32 countries all over the world. Major banks include those from Argentina, Bahamas, Bolivia, Brazil, Canada, Cayman Islands, Colombia, Costa Rica, China, Dominican Republic, Ecuador, France, Hong Kong, India, Korea, Israel, Japan, Spain, Switzerland, Taiwan, The Netherlands, United Kingdom, United States of America, and Venezuela. Indeed, Panama banks represent a wide spectrum of banks from Asia, Europe, and the Americas, resulting in a modern and effective banking system.

Despite the smallness of the area of Panama compared to other nations in Central America with large economy, Panama has diverse forms of natural landscapes and ecosystems: rainforests, mountain forests, coral reefs, beaches, and wetlands with mangrove trees. Panama’s diverse ecosystem is one of the popular attraction and interesting things about Panama. Because of its strategic location as isthmus, a nation that connects the South and North America, it becomes a good place for animals to migrate and plants to grow well.

Globalization is commonly viewed as the integration of economies and societies of nations all over the world by exchange of goods and services of nation to nation. Contrary to the conservative practice of economy back in history where economic activities are limited domestically, globalization is geared towards open market that involves other nations. There are many issues to globalization and this includes specifically Globalization in Panama. In fact, debates from all over the world are heard about the pros and cons globalization brings to a certain nation. The subject of the debate on globalization includes American influence in nations against preservation of domestic resources; and economic growth and prosperity against environmental devastation and exploitation of natural resources.

The government of Panama follows the patterns of presidential representative with three branches: the executive, legislative, and judiciary. The executive is elected by popular election vote exercise the senior’s citizens for a period 5. The president is considered the head of the state and the head of the government and has two vice- presidents. He also presides over multi party system. The legislative branches are also elected by popular election vote in the same terms as the president as well. It is composed of Unicameral National Assembly of 78 members. Positions in Judiciary are appointed independently some of them by judicial careers contest.

One of the advantages of investing in Panama is the government’s provision on law for assets protection this entity has been created by the law 32 of 1927. Aside from the assets under the private interest foundation which allows the natural owner to control his assets under the name of the foundation, Panama also provides law on Panama Anonymous Corporation. In fact, Panama is the only country in the world who allows such anonymous existence of corporation for the singular purpose of operating through the use of actual shares of stocks instead of actual name of the natural owner. With the Panama Anonymous Corporation, the state does not generally know the owner behind the corporation aside from the fact the persons involved in the corporation have the shares.

Panama economy is dictated mostly by service industries. This includes tourism, banking, Panama financial institution, telecommunications, Panama Canal and the Colon Free Zone to name a few. As a service oriented country, most of its infrastructure is towards servicing needs like banks, financial institutions, hotels, resorts, telephone facilities, and others. One of the contributory factors for Panama’s economic stability is the provision and policies in Panama financial institution.

The Panama financial overview is a success story. During the 1980s Noriega dictatorship, Panama lost its status as a banking and sanctuary for free trade zone. After the successful restoration of democracy Panama recovered to regain its reputation as the Western Hemisphere’s primary financial and trading tax haven. In fact, Panama financial overview would not be complete without citing that Panama is known in the international finance community as the “Switzerland of Latin America”. This is definitely a well-deserved moniker.