Panama Info

Information about Panama The Republic of Panama is located in the center of the Western Hemisphere under the following coordinates: 7º12’07" and 9º38’46" North, 77º09’24" and 83º03’07" West. Its Borders are: to the North, the Caribbean Sea; to the East, the Republic of Colombia; to the South with the Pacific Ocean and to the West with the Republic of Costa Rica. Panama is the link between Central America and South America, constituting an isthmus of 80 km. wide in its narrower section. Official Name: Republic of Panama Capital: Panama City Nationality: Panamanian Area, Population and Density: 75,990 square km; the total population is 2,839,177, 81 persons/square mi Age Distribution (%): 0-14 years 37.0%, 15-59 years 56.3%, 60+ years 6.7% Political Division: 9 provinces and 3 indigenous communities Government: constitutional democracy, centralized Republic Legal System: based on the civilian legal system, judicial revision of legislative acts in the Supreme Court. Accepting international tribunal jurisdiction, except in some instances Language: the official language is Spanish. However, many Panamanians speak English Literacy Rate: 90% Weather: Panamanian weather is tropical, and uniform throughout the year. The average temperature is 27 degrees C. Religion: there is an absolute freedom of Religion in Panama. Most Panamanians are Roman Catholic. However, due to the diversity in the country, you can find all kinds of temples of worship throughout the country. Time Zone: the time in Panama all year long is the same as the EST (GMT -5). We do not observe Daylight Savings Time. Currency: the U. S. dollar. The Panamanian currencies are equivalent in size and value to those of the U. S. A. Commerce: they are generally open from 9:00 a.m. to 6:00 p.m. from Monday to Saturday. Some open on Sundays Gratuities: from 10% to 15% of the bill, is the suggested amount Driving License: the visitors can drive up to 90 days with foreign license Electricity: 110 volts; 60 cycles Tropical climate & low cost of living 962 miles of coast line Population just over 3 million Valid Passport & tourist card to enter Colon Free Zone second largest in the world Panama has no Military No hurricanes or earthquakes Top 5 Places in the world to retire Stable economy with the US dollar as legal tender Economic growth that year after year continues to surpass most of the other Latin American countries. For over 40 years, Panama’s inflation rate has averaged less than 2% yearly, unheard of in other countries south of the US border. Special incentive laws for investors, and Favorable offshore banking laws. White sandy beaches, rain forests, exuberant vegetation and wildlife, thick jungles, mountains and unique islands. More than 30% of Panama’s fauna and flora are protected through 15 national parks and 5 forest reserves. Diverse geography ranging from mountains to tropical islands and from a booming metropolis to vast jungles. Panama has a level of security and efficiency not found in other Latin American countries. Panama has more amenities, lower costs and lower crime rates than traditional retirement destinations in Mexico or Costa Rica. How to get to Panama: the best way to get to Panama is through air travel. Continental Airlines, Copa Airlines, American Airlines and Iberia have daily flights to Panama. If you are driving, you can get here through the Inter-American Highway that runs through Central America. If you are coming by sea, you can disembark in one of our many ports.