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About Panama
Property Investment Panama, Property for Sale

Panama with an area of approximately 29,700 sq. miles is located between Costa Rica and Colombia and forms the narrowest and lowest section of the Isthmus which links North and South America. Shaped like a letter "S", the country has a width that varies between 31 to 115 miles and has a coastline of 490 miles on the Atlantic Ocean and 870 miles on the Pacific Ocean.

The population of Panama is around 3.2 million, with over half living in urban areas. Spanish is widely spoken, but many of the people in Panama including businesses, top Government Officials and Executive Staff are fully bilingual. Panama time is five hours behind Greenwich Mean Time (GMT) and one hour ahead of Central American countries. UK Nationals do not require visa's just a valid passport. To find out more about buying real estate in Panama.

The famous Panama Canal joins the Atlantic and the Pacific Oceans; it is about 50 miles long and is the land bridge between two continents, making it a crossroads of the World. Each year hundreds of cruise ships travel through the Canal. Panama City is the country's capital and the principal commercial centre. It lies on the Gulf of Panama on the Pacific Ocean side and is the only city in the world that has a tropical rain forest within it's city limits.

General Facts

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: 75,517 square Km; the total population is 2,839,177, 81 persons/square million.
  • Age Distribution (%): 0-14 years 37.0%, 15-59 years 56.3%, 60+ years 6.7%
  • Political Division: 9 provinces and 5 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 US Dollar. The Panamanian currencies are equivalent in size and value to those of the USA.
  • 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.

Dress Code: light clothing is recommended. Dress attire for business is formal: we recommend a light suit for men and for women a light skirt or pants outfit. You should consider a straw hat and sunglasses if you are going to the beach.

How to get to Panama: the best way to get to Panama is through air travel. Copa Airlines, Continental Airlines, American Airlines, Delta Air Lines 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.

Source:Information from Authority of Tourism Panama, www.atp.gob.pa

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