Building the New Panama Canal

Thousands of poetic works have been penned about every aspect of life in Panama. This country is driven with a literary heritage dating back nearly 400 years. In modern times, few of the features of life in Panama have inspired more rough neck poetry than the world famous Panama Canal.

A wonder of the world it is

Equal to 6000-plus, war ships

Six pyramids by the Gaza strip.

With all its tunnels, and locks,

Dams, lakes, fifty-one miles of it;

Buildings, mess halls, bridges— Structures and more structures;

Spillways and much cartage;

Bulldozers, trains—ten-years of it,

Building:

Excavations, constructions—:

Like digging a big ditch, through

Mountains, valleys, lakes—all

All I say, all immense, immense

With tons of cement and steel,

Between silt and mud; and two

Oceans between: obstacles

One after another—yellow fever. The Suez Canal is but a glimpse

Of this immense task, in Panama;

Unequal in every way, to its grandeur.

When you visit Panama, make sure to bring pen and paper. You can never tell when a muse will stroke save to say that in Panama, they strike often. From picturesque mountains cloaked in lush rainforests, to pristine beaches, and the cosmopolitan sophistication of Panama City, the Gem of Central America stands alone. While in the country, make sure to take time to walk through some Panamanian real estate. Bargains are plentiful and the real estate market in Panama remains strong. Find the inspiration for your next masterpiece, in Panama.

If you are interested in investing in Panama, gaining residency here, doing your offshore banking in Panama, starting a business, meeting the right people, or finding the ideal retirement location on the beach contact one of our Panama experts today.

Email us at The Panama Club for discrete answers to any questions you may have about Panama.

+507-836-6542 / 43 (Panama) | 1-(305)-503-9957 (USA)

The Image and fortunes of Panama are inextricably bound to fifty of the most famous miles of water and locks on earth. The Panama Canal began reshaping the fortunes of this Central American nation in 1914. The original project spanned more than 25 years and cost more than 27,000 lives to complete.

The French began the modern day canal around 1880. When these efforts proved futile around the turn of the 20th century, the US stepped in. It would take another decade and half to complete the world’s most famous short cut. Looking back, more than 95 years of successful operations and millions of ships transited are proof that the canal was well worth the time and sacrifice required to construct it.

The US assumed operations of the canal and its buffering defense, housing, and business area called , the “Zone” upon completion. US management of the Zone continued for 75 years until 1999 when control of the canal and related lands was restored to the nation of Panama.

Panamanians and Americans blended well during the days of US canal operations. Residents of the Canal Zone became known as “Zonies”. Many Zonies married locals. As generation followed generation, many came to think of themselves as more Panamanian than American. The descendants of Zonies now occupy positions of business, political, and cultural leadership at the highest levels. This blending of US and Panamanian culture under girds much of the affection “Gringos” enjoy to this day.

After more than 80 years, the Canal remains Panama’s most significant and reliable national asset. Current expansion plans assure that this will continue to be the case in the future.

A stable economy is essential to a stable real estate market. Panama is uniquely gifted in this way. When you think about it, as long as sailors take to the sea in boats, they will be looking for the shortest line between two points. This simple necessity predicts a bright future for a short cut that eliminates more than 8,000 sailing miles when traveling from the Atlantic to the Pacific.

If you are interested in investing in Panama, gaining residency here, doing your offshore banking in Panama, starting a business, meeting the right people, or finding the ideal retirement location on the beach contact one of our Panama experts today.

Email us at The Panama Club for discrete answers to any questions you may have about Panama.

+507-836-6542 / 43 (Panama) | 1-(305)-503-9957 (USA)

A delightful day trip just outside of Panama City is a visit to the Miraflores Locks on the Panama Canal. The Miraflores Locks are at the Pacific end of the Panama Canal, just a taxi ride North of Panama City. At the Miraflores Locks is a large, modern visitor center from which you can watch city block long container ships enter and leave the locks.

At the visitor center be sure to watch the English language movie showing the history of the Panama Canal. This serves as a reminder that trade has been passing across the Isthmus of Panama from before Columbus. The movie starts with the French effort to build the canal, defeated by the thousands of deaths from Yellow Fever, to the eventual completion in 1914. The movie documents the excavation of the previously unheard of amount of rock and earth necessary to create the passageway.

Following the movie, visit the very comprehensive Panama Canal Museum Exhibit. The museum by itself is worth the trip to Miraflores.

After the museum exhibits, you may spend as much time as you like on the observation deck as the world’s container vessels, tankers, cruise ships and the occasional recreational vessel pass beneath. You will be able to look down into the locks as the waters of Lake Gatun flow into the locks raising Atlantic bound vessels and as they empty again allowing ships to pass to the Pacific.

There is a rather nice restaurant from which you can also watch the ships of the world pass. However, to be kind, we will say that it is a trifle pricey.

If you are interested in a cruise on the Panama Canal, ask the concierge at your hotel for help. You can book a boat trip to the Caribbean end of the canal and a return on the Panama Canal Railroad, all in the same day.

If you are interested in investing in Panama, gaining residency here, doing your offshore banking in Panama, starting a business, meeting the right people, or finding the ideal retirement location on the beach contact one of our Panama experts today.

Email us at The Panama Club for discrete answers to any questions you may have about Panama.

+507-836-6542 / 43 (Panama) | 1-(305)-503-9957 (USA)

In an address before the Retail Industry Leaders Association (RILA) Logistics Conference in Dallas, Panama Canal Authority (ACP) Administrator/CEO Alberto Alemán Zubieta reported that the much anticipated second canal project is on time and on budget

Slated for completion in 2014, one hundred after the opening of the existing canal in 1914, today’s expansion project will double the capacity of Panama’s Atlantic to Pacific short cut.

With a budget of $5.2 billion, the expansion of the canal is the largest public works project in Panama’s history. Zubieta was quick to deny rumors that the prject was falling behind, assuring all at the conference that the expansion would be completed on time.

One of the next milestones in the completion of the canal expansion will be the awarding of the largest contract associated with the project. Consorcio C.A.N.A.L., Consorcio Atlántico-Pacífico de Panamá, Consortia Bechtel, Taisei, Mitsubishi Corporation, and Consorcio Grupo Unidos por el Canal are all vying for the contract to build the lock system that will make the canal a working reality. If this process moves forward as expected, a choice will be made by the end of March, 2009.

Visitors from around the world first fell in love with Panama while standing on the deck of a ship making its way through our famous canal. These sailors, scientists, tourists, and military personnel from around the world return to Panama to make their home. This constant influx is what makes the real estate market in Panama one of the most vibrant in the region.

Doubling the capacity of the canal system means that twice as many new visitors will have the opportunity to discover the charms of Panama—the Gem of Central America

If you are interested in investing in Panama, gaining residency here, doing your offshore banking in Panama, starting a business, meeting the right people, or finding the ideal retirement location on the beach contact one of our Panama experts today.

Email us at The Panama Club for discrete answers to any questions you may have about Panama.

+507-836-6542 / 43 (Panama) | 1-(305)-503-9957 (USA)

Ferdinand de Lesseps (1805-1894) -the father of the Panama Canal

Every American school child is taught to revere names like Daniel Boone, Lewis and Clark, and Thomas Edison. In Panama one of the names you will find on any list of historic figures is Ferdinand de Lesseps.

You have probably never heard of Monsieur Lesseps, but the contributions of this obscure French diplomat literally rewrote world history.

Lesseps was a descendant from a long line of wealthy French aristocrats. He became famous as one of the pivotal figures in the construction of the Suez Canal. Sometimes called the hero of the Suez, Lesseps’ involvement with the project came to a close following its opening in 1869. Ready for new adventures, Lesseps attempted to capitalize on his successes with the Suez by launching a bid to link the Atlantic and Pacific with a canal through a Colombian possession called Panama.

The Spanish had been trying to find a path way through Panama since the early 1500’s. The French led by Lesseps, hoped to capitalize on these efforts with a sea level canal similar to the one built in the Suez. At stake was a prize of almost inestimable value; control of a short cut that would save nearly 14,000 miles of sailing around Cape Horn.

In the end, the hero of the Suez lost all in his bid to conquer Panama’s hostile interior. Rocky soil broke the back of the best equipment French engineers could produce, and diseases like malaria and yellow fever ravaged workers on the project. The Americans would be the ones to complete his dream, but it was Monsieur Lesseps who would come to be known as the father of the Panama Canal.

Make some history of your own when you explore Panama for yourself. Discover the natural treasures of this remarkable nation as you enjoy its business, tourism, and retiree friendly culture.

The benefits of living and working in Panama are remarkable. Just for starters, you will not have to pay taxes on income you earn outside of the country. With the right you can buy a home here that is exempt from property taxes for up to 20 years. And don’t forget, Panamanian law allows you to invest and bank in secrecy. This provides individuals and businesses with the ability to keep their business… their business.

If you are thinking about developing a Panama based asset protection, business, banking, investment, or retirement strategy, make sure to begin by building a strong relationship with a local attorney. There are many third party sources able to help you select the best one for your needs. These groups provide unbiased reviews of providers in Panama’s professional community speeding you to a successful pairing.

If you are interested in investing in Panama, gaining residency here, doing your offshore banking in Panama, starting a business, meeting the right people, or finding the ideal retirement location on the beach contact one of our Panama experts today.

Email us at The Panama Club for discrete answers to any questions you may have about Panama.

+507-836-6542 / 43 (Panama) | 1-(305)-503-9957 (USA)

Panama is a diverse nation of more than 3 million persons representing every nationality. This remarkable diversity in its citizenry is matched by the many facets of its economy.

In the 90’s, Panamanian officials began to notice that increasingly large ships exceeding the width able to pass through the canal (PanaMax Class) were beginning to appear in increasing numbers. In response to this challenge, the Panamanian government announced a canal expansion in 2006 to insure that Panama would not be unseated from its role as the best maritime shortcut from the Atlantic to the Pacific.

The expansion announcement boosted Panamanian GDP nearly 2 percentage points in 2006. In the years since, Panama’s rate of economic growth is ranked as the fastest growing in Central America and the Caribbean, and among the fastest growing on the planet.

The canal expansion is also a big boost to subordinate industries like logistics, exports, free zones, and ports. The Colón Free Zone is already recognized as the second largest in the world. If management at Hong Kong’s Hutchison Whampoa has its way, Balboa will soon be the largest port in Latin America. In addition, two new passenger terminals are now serving the rapidly growing cruise and yachting industries.

As Panama’s economy grows, prospects for real estate ownership in country improve as well. Investments in Panamanian real estate continue to outperform any in the region. As a chilly wind blows through real estate markets world wide, Panama’s warmth and red hot economy, continue to keep real estate here warm and cozy.
Real estate is a long term investment. A predictable economic future for your host nation is essential. Panama is a superstar in this capacity. Its super diverse economy stands alone at the top of it region insuring a safe haven for investors for many years to come.

If you are interested in investing in Panama, gaining residency here, doing your offshore banking in Panama, starting a business, meeting the right people, or finding the ideal retirement location on the beach contact one of our Panama experts today.

Email us at The Panama Club for discrete answers to any questions you may have about Panama.

+507-836-6542 / 43 (Panama) | 1-(305)-503-9957 (USA)

Panama’s recent rise to a position as Latin America’s poster child for economic success has been built on a number of sectors has continued to fuel growth during challenging times. What is the most important force driving Panama’s success?  Location, location, location!

What Panama lacks in oil and exports it more than makes up for with its amazing location. Panama’s remarkable positioning in the earth’s topography gave rise to the Camino Real, the Pan-American Railway, and one of history’s best known short cuts, the Panama Canal.

Panama has long been positioned in the center of global trade routes. For centuries, new residents have found an inviting culture, brisk trade, and expanding economic fortunes in our country.

Even though things have slowed a bit, Panama remains at the hub of global commerce. When the global economy emerges from its doldrums, the energy of that recovery will reach our shores first.

With every vessel that makes its way through the Canal, Panama’s legend and desirability grows. Just as it is in all businesses, drive-by traffic is essential to success. The Canal will continue to provide the best international drive-by traffic anywhere in the world.

Photo Courtesy: Panama Canal Authority

Every sailor and tourist on every ship takes away a memory of the natural wonder of our home. These memories call to them through years to return, fueling Panama’s tourism industry. While the rest of the world pays to distribute its tourism message, Panama’s allows it to be paid as it shows off for millions of new friends each year.

If you are interested in investing in Panama, gaining residency here, doing your offshore banking in Panama, starting a business, meeting the right people, or finding the ideal retirement location on the beach contact one of our Panama experts today.

Email us at The Panama Club for discrete answers to any questions you may have about Panama.

+507-836-6542 / 43 (Panama) | 1-(305)-503-9957 (USA)

In 1534, a survey was ordered by Charles V, Holy Roman Emperor and King of Spain for a route through Central America that would shorten the voyage for ships traveling to and from Spain. . Even with the primitive state of cartography of the day, it wasn’t hard to see how such a canal would facilitate trade and travel by eliminating the lengthy, dangerous shipping route rounding Cape Horn. (Today it’s known that a ship sailing from New York to San Francisco via the canal travels 6,000 miles (9,500 km); or less than half the 14,000 miles (22,500 km) route around Cape Horn.) Read the rest of this entry »

Steam shovels will soon be clanking again at the Panama Canal.  Only a little more than a quarter century after the opening of this “life line” of the U.S. Navy and crossroads of the world’s maritime commerce, workers will break ground for a monster third set of locks—a project whose $277,000,000 cost equals more than half that of the present canal!

The giant engineering scheme calls for conversion of the present “two-lane” canal across the Isthmus into a “three-lane” canal.  To do this, three sets of oversize single-chamber locks will be built, parallel to the present twin-chamber locks but at some distance from them.  There will be no need to dig a whole new canal, since the “Big Ditch” itself will easily carry the traffic. Read the rest of this entry »

The Panama Canal expansion will be one of the top issues relevant to Caribbean and Latin American port professionals, including navigation dredging, seaport security, expansion and port operating strategies.

All these topics will be featured at the American Association of Port Authorities (AAPA) Executive Management Conference for Latin America and the Caribbean from February 12 to 14.

The conference will be held in Miami Marriott Biscayne Bay Hotel and Marina.

source: http://www.bulletinpa.com/index.php?id=802

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Source: VIP Panama

If you are interested in investing in Panama, gaining residency here, doing your offshore banking in Panama, starting a business, meeting the right people, or finding the ideal retirement location on the beach contact one of our Panama experts today.

Email us at The Panama Club for discrete answers to any questions you may have about Panama.

+507-836-6542 / 43 (Panama) | 1-(305)-503-9957 (USA)