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 FAQ's - Panama In General
Q: How often does Panama get hit by Hurricanes?
NEVER! Panama is the only country in Central America in a climate zone that is absolutely hurricane-free. There has never been a single recorded hurricane to hit its shores. Panama also has none of the destructive earthquakes that plague its Central American neighbors.
Q: What is the population of Panama and Panama City?
Panama's population is approximately 3 million with about half of that population living in and around Panama City.
Q: How is the health care system?
It is very similar to the USA. Many of the doctors have been educated in the United States and choose to practice in Panama. There are several great hospitals in the country including a brand new John Hopkins Hospital in Panama City.
Q: What is Panama doing to attract foreign investors?
A Lot! The President, Martin Torrijos, is absolutely committed to making Panama a great place to visit and live. He has done many things such as appointing Rueben Blades, a national hero, to run the Tourism ministry. Panama has also established many great retirement incentives including laws that waive property taxes for up to 15 years and allow foreigners to own property with equal rights as Panamanians. It is no wonder that Panama was ranked the number one country in the world to retire for 5 years straight.
Q: Is English spoken by many Panamanians?
Yes. Spanish is the national language but many Panamanians speak English, especially those working in the service industries. It has been reported that of all of Panama, Bocas has the largest English speaking population.
Q: Would financing options be available in Panama?
Yes. As the developer, we do not offer the financing privately but we have received commitments from a number of banks in Panama to provide mortgages for our clients. The process is similar to that of the USA as Panamanian banks offer very similar financial products. The rates are very competitive in the world market and are often lower than that of the USA but, of course, depend on the qualifications of the buyer.
Q: I have no idea what to expect as it relates to food in Panama?
One of the most often heard compliments about our exploration tours is that the food is far better then they ever imagined. Panama is proud of its incredibly diverse population which brings the best in food specialties from around the world. Add to that the proximity of the finest fresh seafood and you have it all.
Q: How far of a flight is Panama City from the US?
If you are flying Continental through Houston it is a little over 3.5 hours of flight time and American Airlines through Miami is just over 2 hours. Delta out of Atlanta is about 4 hours and Copa Airlines is around 5.5 hour out of Los Angles and less than 5 hours direct from New York.
Q: What time zone is Panama in?
Panama does not observe day light savings time and thus falls in the Eastern Time Zone from October to March and is in the Central Time Zone from April to September.
Q: Do I need to exchange money once I get there?
The US Dollar is Panama's currency and all major credit cards common in the United States and Canada are honored here.
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