FAQs - Panama In General

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 few of the destructive earthquakes that plague its Central American neighbors. The Red Frog Marina in Bocas del Toro is one of the few marinas in the Caribbean that can claim hurricane free waters.

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.

How is the health care system?

The quality of the health care is very similar to that in 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 new John Hopkins Hospital in Panama City. The concept of "medical tourism" in Panama is taking shape quickly- mostly because while quality of care is on par with the US, prices for medical treatment are dramatically lower.

What is Panama doing to attract foreign investors?

A Lot! The President, Ricardo Martinelli, is absolutely committed to making Panama a great place to visit, live and invest. Our dealings with his administration demonstrate a pragmatic "can do" attitude with respect to helping foreign investors with their needs. Panama has also established many great retirement incentives including laws that waive property taxes for up to 20 years and allow foreigners to own property with equal rights as Panamanians. It is no secret that Panama has been ranked one of the top countries in the world to retire.

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 proportion of English speakers. This is due to the Caribbean influence in the area.

Would financing options be available in Panama?

Yes. As the developer, we do not yet offer private financing but we have received commitments from a number of banks in Panama to provide mortgages for our clients. The process is similar to that in the USA. The rates are very competitive in the world market and at times may be lower than that of rates in the US. Rates are predicated on prevailing interest rates and the qualifications of the buyer.

What dining experiences are available in Panama?

Red Frog Beach has two restaurants on Isla Bastimentos: Punta Lava and Kayukos. 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 a terrific combination.

How long a flight is it to 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 approximately 5.5 hours out of Los Angles and less than 5 hours direct from New York.

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.

Do I need to exchange money once I get there?

The US Dollar is Panama's currency and all major credit cards from the United States and Canada are honored here.