Potential good news for snowbirds and investors in Panama
After a week of talks with high-ranking government officials and opposition leaders Prima Panama, a real estate developer, reports:
Panama Residential Developers Blog in Paradise recovered-Friday update:
It’s been less than a week since we starting receiving responses to our Internet survey and we’ve already achieved some spectacular results. Our sources in the Assembly have informed us that legislation is being introduced to return the length of stay for the tourist visa to 90-days (without requiring an extension) and issuing a temporary extension of the 20-year tax exemption on new property until December 31st, 2007. We have assurances that it has the full support of the President along with his cabinet.
At the very least it's interesting to see that in this small country (only 3 million citizens) it is possible to get into direct talks with the government. I can't predict what the outcome of all this will be, but my feeling is that the government will come up with some exception for European and North-American visitors while maintaining the 30 days limit for everyone else.
|30 Jun 2007
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