Panama: Offering Enticing Incentives to Foreign Investors
The Panamanian government recently passed laws allowing Caribbean property to be titled and offers enticing incentives to foreign investors. Emerald Monkey Eco-Luxe Resort & Residences offers investors the opportunity to take full advantage of these incentives.
BOCAS DEL TORO, Panama, Sept. 9 /PRNewswire/ — A Panamanian resort that offers an eco-luxe sustainable lifestyle is attracting an affluent retirement market with a striking mix of luxurious amenities teamed with enticing government incentives for foreign investors. Emerald Monkey Eco-Luxe Resort & Residences is located in the lush tropical Archipelagos of Bocas del Toro and is privately owned and fully titled.
According to the CEO of Emerald Monkey Eco-Luxe Resort & Residences, Kimberly DeLape, “Interest in the development is soaring in light of new laws that protect investments in the Caribbean. The natural beauty of the tropics that surrounds our development, combined with easy access to the U.S., and so many financial incentives, makes Emerald Monkey one of the most sought-after destinations for retirement or second home choices.”
Currently under construction, The Emerald Monkey development is designed and marketed as an elegant and private lifestyle that is located in a “hurricane-free” zone of the Caribbean. Handcrafted island villas in the timeless Balinese tradition enhance an eco-luxe sustainable lifestyle and amenities for owners boast five-star standards. Villas start at the mid $500’s to over $2.5 Million. Fractional sales are available. Infrastructure is underway and the resort is scheduled to open in the fourth quarter of 2010.
Energized by the expansion of the Panama Canal (a $5 billion project), the government of Panama requires no special authorizations, permits or prior registrations for foreign investors. Specific investment incentives include:
* No property tax for 20 years
* Panamanian residency available for buyers of homes costing $250,000 or more
* Foreign investors are protected from changes in tax, customs, municipal and labor rules for a period of 10 years
Additionally, Emerald Monkey Eco-Luxe Resort & Residences will be investigating the opportunity to provide our investors/owners with title insurance. Title insurance protects the investor and guarantees the investment on the land and the improvements upon the land should any claim be made on the land/property by a third party at any stage of the development.
Also, another exciting opportunity is the Pensionado Program outlined below:
* 10-50% discounts on many necessity and entertainment costs, including 50% off home closing costs
* Applicants must be over the age of 18 years old
* Have a residence in Panama
* Guaranteed pension income of $1,000/month (plus an additional amount per dependent)
Purchasing a whole or fractional ownership in Emerald Monkey Eco-Luxe Resort & Residences enables U.S. residents easy and quick access to their property. Panama has direct flights from New York, Miami, Fort Lauderdale, Newark, Los Angeles, Washington, D.C., Orlando, Houston, Dallas, Atlanta, Madrid, Amsterdam and major cities in the Caribbean. Panama offers a sophisticated business district, high-speed Internet connections, an American-style infrastructure and the U.S. dollar as the legal tender.
Word of Panama’s newfound popularity is spreading throughout the media, according to DeLape. Conde Nast Traveler selected Panama as one of the six best places for a second home in the Americas and Panama also received the highest rating for tourist safety by prestigious Pinkerton Global Intelligence. Panama has also been featured as one of the world’s newest “hot spots” for investment options. While other publications such as Fortune and International Living magazines have also ranked Panama among the top five places for retirement, it is the colorful history and profound beauty that is attracting prospects to Emerald Monkey.
For additional information regarding Emerald Monkey Eco-Luxe Resort & Residences, please visit us at www.emeraldmonkey.com.
