We had just been in Bocas del Toro and stayed at the Swan’s Cay Hotel there. When the fellow who was touring us around learned were off to Boquete next he made a call to an associate. He was trying to get us into Isla Verde a spot he thought was the nicest place to stay in the Boquete Highlands. Unfortunately they were all booked up as a matter of fact so was everything else in town. So, we ended up at the Fundadores Hotel.

The Fundadores was a little tired but so were we after another days journey! So, we took the boys for a walk and found some delicious ice cream at a place called Annas Sweets and then turned in for an early night.

By morning we hadn’t seen much of Boquete and although the air was cool and comfortable and the mountain jungles absolutely gorgeous we didn’t think much of the town. Of course we had yet to discover Valle Escondido or the Panamonte Hotel or any of the other hidden gems Boquete has tucked away around the next corner or lush green mountainside.

I remember meeting Sam, the developer of Valle Escondido and his comment that he had never seen a mosquito in Boquete. Well that night it seems our young son managed to experience the only mosquitoes  in Boquete and they were right there in our room at the Fundadores! But all said it really wasn’t too bad an experience. I think we paid around $40 for our family of four. The large room had a double bed and two singles. The old place had a certain charm or maybe better said, ‘character’ and you could tell it was a pretty interesting hotel in it’s day. The unique feature of a small river (probably the source of the mosquitoes) running thorough the restaurant is quite charming. Now Boquete has changed dramatically and there are a lot more Boquete Hotels to choose from so I’m not sure very many people still stay at he Fundadores Hotel in Boquete but it still retains memories for me!

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In fact, almost everyone we know who has come to retire in Panama has capitalized on the opportunities here, and many have begun businesses of some sort…guesthouses, property developments, resorts, eco-tourism projects, forestation projects, charter dive operations—even boat repair outfits.

If your plans in 2010 and beyond include starting a business—look to a Panama Business. If you don’t yet have a good business idea of your own, Simon Black, below, shares some of his.

Panama Business Opportunities

By Simon Black

I see a lot of opportunity in Panama right now for entrepreneurs and small businesses; in fact, I see more opportunity here than in just about every other country in the western hemisphere with few exceptions.
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–Recommended Reading –

Do you know about the “No-Savings Retirement Plan”?

Thousands of Americans are now retiring luxuriously… even though they didn’t save ‘enough’ during their working years.

They are using a Retirement Plan that Fortune Magazine claims is “a way to double your retirement dollar… trade up to a larger house, get a pool, hire servants – and guarantee visits from your kids.”

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Why?

Panama has two strong emerging consumer markets.

The first is the obvious low hanging fruit: foreigners. Their ranks in Panama are growing by the day, swelling the country with their capital and their consumer demands. Simply put, they are accustomed to certain products and services, not all of which are available in Panama. That spells opportunity.

Sure, there are droves of foreigners here already posing as real estate agents trying to sell the next expat on an overpriced, generic condo in Panama City…but that business model is dead for now. There are better options.

One possibility is a professional property management company. There are thousands of new condo units in the city whose owners might only visit a few times a year. During the vacant periods, there are bills to be paid, maintenance to be performed, and in many cases, tenants to be found and managed.

Only a few companies in Panama focus on this business model, and they’re completely slammed. The market could use some competition, especially considering all the new construction coming online in the next 12-months.

Another consumer demand that needs to be addressed is high-end storage. Panama’s heat and humidity can be disastrous for sensitive belongings like wine, paintings, and antiques; thus, a high-end self-storage facility would likely do quite well here, and it would be fairly inexpensive to start up.

One idea that I have been considering myself is providing services for companies involved in Panama’s two major construction engines right now—the Canal expansion project, and the Panama Pacifico redevelopment project.

(Panama Pacifico is a $1 billion mixed use commercial/residential development on the former Howard Air Force base just outside of the city near the Canal.)

These two projects are attracting a myriad of foreign companies, and right now there are limited options available for corporate services, especially lodging for business travelers.

Nearly every reasonable hotel in Panama province is tucked inside the city, making for an unreasonable commute, and the first business class hotels outside of the city aren’t due to be rolled out until 2016. A well-located existing structure could be renovated, marketed, and profitable as a business-class hotel within 12-months.

The second consumer market worthy of an entrepreneur’s attention in Panama is its emerging middle class, and this is another group that is growing by the day thanks to the income effect of Panama’s growing economy.

The wealth of most developing countries is concentrated in the hands of the few, leaving the remainder of the population living on scraps; these types of markets should generally be avoided by smaller enterprises.

The mark of any well-developed country is a solid middle class—roughly 60% to 80% of the population that earns enough to provide a comfortable standard of living, savings, and discretionary spending.

Panama is clearly moving in this direction; middle class households earn between $800 and $1,500 per month, which is enough for them to buy a house and car while having plenty of money left over for savings and mindless consumption.

One clear opportunity is the current shortage of housing units for middle class Panamanians, which fall in the range of $60,000 to $80,000. The government projects that roughly 70,000 units are needed just in the area around Panama City; existing approvals show only around 8,000 in various stages of planning or development.

Retail opportunities also exist; by nature, Panamanians are a consumptive group—as a culture, if they have money, they’ll spend it. It seems like everyone has a new car these days, and given how poorly everyone drives here, there’s opportunity for maintenance and body shops.

Assisted living facilities and elderly care is also a fantastic opportunity, particularly when targeting the Panamanian middle class; for the first time ever, this group now has the income to outsource the care for their elders, and they’re starting to do it. The few facilities that offer this service in Panama are booked solid.

These are just a few small business ideas in Panama that I’ve noticed recently; if you spend much time on the ground here you will probably come up with several more on your own.

One thing I would caution you about is running any employee-intensive business; Panamanian labor laws, while relatively relaxed in comparison to the rest of Latin America, clearly favor the employee.

Between the mandatory “13th month” annual bonus, 40+ days off, increasing minimum wage, and Byzantine termination rules, it’s in your best interest to keep the workforce slim and/or temporary.

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Of course, it’s not really “hidden.” In fact, some of Panama City’s oldest and most affluent families have been coming here for years.

But if you’re not in-the-know, you’d probably never hear of this place. Jessica gives you the scoop, below.

Panama’s Best Kept Secret

by Jessica Ramesch

A cool breeze tickles my neck as I take in the view from Gaital Hill. The sky is a gingham pattern of crisp blue and white now that the mists have dissolved in the afternoon sun. The fauna is deeply green and seems to cover everything. At the foot of the hill lies my destination…“the valley.”

Panama's Hidden Valley

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The drive into El Valle is my favorite part of visiting here. In the morning mist, the view of the Gaital Hill and Nature Reserve seems to appear out of nowhere as I follow the road that snakes into the town. The houses below are camouflaged by trees, so all I can see is green and more green. That is, until I reach the famous market, a riot of color bursting with flowers and sweet tropical fruit.

From its once-mighty volcano to its minuscule golden frogs, El Valle is a treasure of a town. Residents, many of them retired members of the Panamanian elite, rave about the strategic location and Spring-like climate.

Perhaps the best kept secret in Panama, El Valle is tucked into a crater five miles wide. About 2,000 feet above sea level, El Valle boasts fertile volcanic soil and a misty mountain clime. The combo makes this a gardener’s dream. Best of all, this cool oasis is only 45 minutes by car from Panama’s best Pacific beaches.

A tiny town, El Valle has grown in past years and today hosts a growing expat community, including North Americans, Europeans, and South Americans. Though there’s not much of a night life, the expat community in El Valle and the surrounding beaches has become much more active over the past two years. Expat events in the region include festivals and charity work, concerts and gourmet cooking classes, and much more.

Plus, El Valle is a true paradise for lovers of the outdoors. Whether or not you’re a bird watcher, you’ll marvel at the sheer variety of species. Tanagers, hummingbirds, and rare birds such as the mottled owl are frequently sighted here. It’s also the perfect place for plant lovers; city dwellers flock here to buy orchids at the weekend market.

One of the nicest places to visit is El Nispero Plant Nursery and Zoo. You’ll find more than 200 orchid species, as well as peacocks, storks, serpents, crocodiles, and the famous golden frogs that are unique to Panama.

Panama's Famous Golden Frogs

If the walking trail at El Nispero doesn’t whet your appetite for adventure, there are more challenging trails on Cerro Gaital. Or hike to the 125-foot waterfall, Chorro El Macho. The waterfall empties into a cool creek, the perfect spot for a swim or a summer day picnic. Or seek the therapeutic heat of the thermal springs and mud baths just off the main road to El Valle. Locals sit in the springs and then plunge into cold river water.

If you’re interested in indigenous culture, visit the El Valle Museum or La Pintada, a site where undecipherable petroglyph baffle historians.

Round out the day with a gourmet dinner at the hotel La Casa de Lourdes, known for its tasteful Tuscan décor.

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–Recommended  Reading –

Going Fast: $30,000 Homes as Forgotten Peninsula Becomes Exclusive Retreat

A famous French architect is about to transform a quiet tropical peninsula into one of the world’s most exclusive retreats for the rich and famous. New York Magazine has hailed it: “the latest eco-playground with panache.” And now a torrent of big-name Hollywood stars have begun to descend on the area including Mick Jagger, Tom Cruise, Bruce Willis, Mel Gibson, Eddie Murphy, Brad Pitt, and Arnold Schwarzenegger. But you can still buy homes today along this peculiar piece of paradise for as little $30,000! Read More Here!

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Not so. The town of Cerro Azul, where Paul lives, was one of the trendiest places to have a home until the late 1980s or early 1990s. Then, for no apparent reason, the elite turned its attention to beach locations like Coronado, making Cerro Azul feel like something of a ghost town. From 2004 to 2008, when real estate prices all over Panama were steadily rising, Cerro Azul stayed surprisingly affordable. This was probably because expats flooding the country didn’t know about it. They were too busy in trendy locations like Boquete and Bocas del Toro.

But little Cerro Azul couldn’t remain a secret forever. Word got out, little by little, and a small expat community began to grow here. Today, Paul says at least 70 expats live in Cerro Azul. The effect has been a revitalization of sorts. Members of the Panamanian elite have rediscovered Cerro Azul as a weekend destination—just 30 minutes by car and you’ve left the city and its madness behind. And the full-time population continues to grow…

I went recently to check it out. The drive out of Panama City was easy, thanks to the excellent road. As we ascended, it seemed we were driving up, up, up into the clouds. Passing dairy farms and ranches, we came upon a colorful Chinese arch—an exotic accent amid the greenery and a signal that we were there.

Some people say that Cerro Azul is an “energy center,” and that in certain areas you can watch your compass go haywire. Perhaps this is why local groups come here for yoga and other spiritual retreats. Or perhaps they come simply because the pines and mountain peaks are an uplifting sight, complimented by jewel-toned hummingbirds and ginger flowers as tall as a ten-year-old.

You will find plenty of property for sale here, and if you get here now, you’re sure to uncover some real bargains. One lot for sale is just off an unpaved road and has water and energy service already installed. The lot is in a residential zone and is well over a half acre. Asking price: $17,600. For $40,000 you can get a half-acre lot in a gated community. A creek runs through the lot, which is in a cul-de-sac and has a distant ocean view.

If you prefer to buy a house and move right in, you’ll find even more options, from inexpensive cottages to big mountain mansions. One home is on offer for $80,000 and comes furnished. The four-bedroom, two-bath home comes with maid’s quarters with separate bath and a covered terrace. Another four-bedroom home is on offer for $90,000. It sits on a lot of nearly half an acre and comes with a pool, storage locker, and two covered terraces.

If your budget is in the $100,000 to $150,000 range, you will have even more options to choose from. One Swiss-style chalet is $120,000. It has four bedrooms and two baths, a balcony, and a patio.

Almost anything grows in abundance, from orchids to bromeliads that pop up wherever you look. It’s close to Panama City and to the international airport, but quiet and peaceful. Far from the city’s light pollution, you can actually see the stars…and there’s no noise to keep you from hearing the nightly symphony of frogs and crickets.

Most importantly, Cerro Azul may be right for you if you want breathtaking views but don’t want to pay hundreds of thousands of dollars for property.

Where did I find these great property listings? Here!

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The Chiriqui Mall in David opened just prior to our arrival back in 2003 and it’s still going strong today. We always like going down to enjoy an English language movie in the six plex theatre then wandering the mall and typically stopping over at PriceSmart (the Latin American version of CostCo) to stockup.

The Chiriqui Mall is on the Pan-Am Highway just west of PriceSmart. It has wi-fi, the movie theatre, a great food court and a variety of stores that unfortunately don’t attract very many customers. I don’t know why. I really like this mall and can’t understand why it isn’t full. Maybe it’s too far form downtown David to draw the local population?

Here are some of the stores you will find at the Chiriqui Mall on the outskirts of David, Panama:

Yadi – A pharmacy that also carries some household decor.

Theatre – Six-Plex modern movie theatre with A/C. Most movies are new features in English with Spanish sub-titles – a great way to learn Spanish.

Super Baru – Grocery store with an awesome import & gourmet foods section.

Food Court – the usual fare found in pretty much any mall food court.

Sebastiano – Clothing and shoe store.

Valla Actives – a TV Cooperative.

Digicel Kiosk – Cell phones, calling cards, service.

Roly Lab – Medical Testing

Sportline – Athletic apparel; shoes; sporting goods

Kardy – Clothes store

Pretty Kidz – Kids clothes

Melo – Pet and farm animal supplies; garden stuff too.

Shoe Outlet – shoes!

Autoridad del Transito – drivers license office.

Passarela – Women’s Clothes

El Hombre de la Mancha – Book store

World Time – Watch store

Guess – Men’s, womens and kids fashion Clothing

Centro de Capacitacion – Driving school – cars, trucks, bus, etc.

If you’re thinking you want to get a retail business going in David there are at least 8 vacant store fronts available in the Chiriqui Mall, David Panama.

A Conway store just opened up in the Terronal Plaza which is right at the intersection for the road to Boquete from David. They have a lovely Rey grocery store and a ‘Do-it’ Center which is very handy.

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Volunteer Boquete has developed a campaign that was officially kicked off on December 24^th with the first Community Cleanup in Boquete. With the new campaign, the foundation will be hosting a community wide event on Earth Day (April 22). “We have found a need in the community and we plan to address it because it needs to be done” said Kaytee Hoverson, project coordinator. In the meantime volunteers from the program, as well as local volunteers, have targeted areas of litter and attacked them head on.

A group of dedicated volunteers picked up litter on Christmas Day and then again the first week in January. While this hearty band of volunteers separates recyclables out of the trash picked up, they plan to further coordinate with Boquete’s recycling program ReALBoquete.

Project plans include researching joining forces with Boquete’s workforce for a more concerted effort, placing trash cans around the city in problem areas, building a regular volunteer base to pick up litter on a regular basis, and working with schools to educate young people about the litter problem.

As of this writing, a meeting was scheduled with Mayor Manolo Ruiz, to present him with a very concise 17-point topic list, outlining detailed solutions to litter problems in the Boquete area.

This is not just a group picking up trash, states Hoverson, but “…a long term project to make Boquete the cleanest, most beautiful town in Panama.”

More information about how you can be a part of this important program is available at www.unexpetctedmomentsofmagic.org or by calling 720-1025.

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If you are looking for a great place to retire, vacation or invest you may want to consider Panama. This small and often overlooked country has something to offer people from all over the world. Over the past five years people from the United States and Canada have been discovering Panama to be a great place to live and many consider it the best place to retire.

The official language of Panama is Spanish with English being the official second language. Many native people of Panama are bilingual and with plenty of shop owners, taxi drivers, police and government officials speaking English. If you are not comfortable rediscovering your high school Spanish or playing charades with the locals then you may want plan on spending more time in Panama City. However, adventuring out into the interior is nothing to shy away from. Just make sure you carry a good Spanish-English dictionary and a playful heart. The people of Panama are very friendly and gracious. They will go out of their way to understand and to help you. If you are planning to move to Panama, your best bet is to learn at least a little Spanish so you will be more comfortable in your environment and better able to blend in with the community.

Panama uses the US currency which makes it very easy to shop and get around in Panama. No hassles with exchange rates and no worries over the ever changing value of the dollar. The one thing you will notice right away is that everything is cheaper. It’s often unnecessary to break a $20 bill for a nice dinner and thats for a party of two. Food is cheaper and so is travel and accommodations. If you decide to move to Panama you will discover Panama Real Estate for a fraction of what it would cost in other places. You will find beautiful Panama City condos, ocean-side properties, cool mountain retreats and much more.

A booming Panama City is another reason why Panama is considered one of the top places to live. Don’t mistakenly think this country is underdeveloped or underprivileged just because it is so cheap to live there. The capital city of Panama has been a major financial center for two decades and it is continuing to grow each day by becoming a popular vacation and retirement spot. New shopping centers, restaurants, night clubs and other attractions are being built in this beautiful area, giving you plenty to see and do.

The sense of community in Panama is strong and vibrant. The people are very friendly and peaceful. Community members work together to achieve common goals and to help their fellow neighbors. Neighborhoods are safe and residents look out for one another. Just another reason why Panama is one of the Top Places to Live. For more Panama information visit LearnAboutPanama.

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This contributes to the safety of Panama and continues to make it the Best Place to Retire.
A preliminary agreement on the bases was reached recently in New York between Panamanian President Ricardo Martinelli and US Secretary of State Hillary Clinton.

A final treaty is expected to be inked in the coming days, reported Panama’s La Prensa newspaper, according to Russia’s RIA Novosti.

“The US and Panama will sign before October 30 an agreement on the deployment of two naval bases on the pacific coast of our country to fight international drug-trafficking,” Minister of Government and Justice Jose Raul Mulino said Sunday.

“One of the bases will be located in Bahia Pina…450 kilometers [280 miles] east of the capital, Panama City, and another one – in Punta Coca about 350 km [217 miles] west of the capital,” Mulino added.

The US dismantled all its bases in Panama and withdrew its military forces from the country at the end of 1999 in accordance with the Panama Canal treaties.

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If you can do it properly, the time to buy may be now. Recognized as one of the Cheapest Places to Live and Best Place to retire Boquete Real Estate just got better.

The new government is committed to giving occupants title to their land protecting their rights and creating a stable environment for investment. President Ricardo Martinelli said in his inauguration address that “We will begin a massive land titling program, so what I can tell everyone who’s listening who has possessory rights, prepare these rights because you’re going to have your piece of land titled.”

The new governments first attempt at improving the titling process, Law 23, 2009, is a promising piece of legislation that equitably accounts for the needs of residents, investorsand government. Even if it isn’t implemented as well as it’s conceived, it’s only a matter of time before all ROP land is titled.

Purchasing Panama ROP Real Estate can pose  Challenges

Some of the best Panama property is claimed under the confusing ROP system instead of being fully titled. The best deals will be for land that isn’t fully titled. This is one thing that makes Boquete Panama one of the Cheapest Places to Live and Best Place to retire. Once titled, the competition for prime Panamanian properties will be much greater and the price much higher, but the risk will be much lower.

Under the ROP system, it is quite possible to find several conflicting claims to a plot of land, both registered and unregistered. This can cause a situation where the person selling the ROP may not actually be in a position to sell. The difficulties that some developers have had with ROP has scared a number of potential investors, but it has also educated people about the risks so they can now do something about them. There isn’t much Boquete Real Estate that falls into this category but there is plenty of property on the Caribbean Coast that does.

Trick to Investing in Panama ROP Real Estate

All it takes to discover these problems is a little investigation. Competing claims typically come from family members and neighbors so it is fairly straightforward to send investigators in to a potential land purchase to interview and get signed affidavits from  the family and neighbors.

Even with the recent correction in real estate prices, Panamanian vacation and retirement properties have a lot of promise. Tourism continues to grow and so do the number of foreigners looking to buy a holiday property in Panama and Boquete Panama in particular. It’s possible to buy ROP land quite safely with a little knowledge and effort and soon those ROP holdings will be fully titled.

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