Colon Freeway Work Starts
The long awaited Panama-Colon freeway will commence construction in the near future with an investment of over US$156-million. The government chose the Brazilian company Odebrecht, the largest engineering and construction company in Latin America, to build the 40 kilometers of freeway to Colon. The company is already carrying out the exploratory work to draw up the route of the freeway.

Bulk Grain Terminal
Early next year Panama will have one of the most complete bulk grain terminals of Central America, in which US$5.6-million will have been invested. It is located at Dock 16 of the Port of Cristobal. The construction is being carried out by the company Positional Development and will be located on an area of 2.9 hectares, which is rented from Panama Ports Company (PPC).

Economy Growing
According to the Department of Statistics and Census of the Comptroller’s Office, the Panamanian economy is growing by 7.12%. The Colon Free Zone and distribution activities were the main factors.

It is calculated that the economy of the country would grow by two percentage points if the Panama Canal were expanded. This result would be reflected by the increase of traffic through the waterway, the increase in exports and investments, jobs, fiscal income and the demand for goods and services.

Homes Fair a Success
Expo Habitat 2006, the homes and construction fair in September was a success with commercial transactions exceeding the goal of US$300-million according to the president of the organizing committee, Pedro Detresno.

Panama Colombia Border Safer
The border between Panama and Colombia is no longer dominated by Colombian guerillas according to a General of the Colombian Army, Jorge Enrique Vargas. He was in Panama for a meeting of the Binational Border Commission (COMBIFRON). He claimed that violence in the border areas has diminished considerably.

Oil in the Darien
The company, Harken, of Houston, Texas, requested permission to drill for petroleum in the province of Darien. This will be given after the company, supposedly linked with the family of US president George W. Bush, finishes feasibility studies in the Darien town of Garachiné. Reporting on this topic, the news letter, "Coffee News", commented that a recent documentary on Panama’s Channel 13 showed petroleum oozing out of the ground in this area and showed how the locals had been using it in their lamps for as long as they can remember. The report added that old-time "Canal Zonians" have always claimed that during World War II drilling was done in Darien and Bocas del Toro to find emergency reserves and that drilling was successful in both areas, but the wells capped because the oil was not needed.

Panama Fights Drugs
The United States has apparently lifted their threat to put Panama on the blacklist of countries that do not fight drug trafficking. The chargé d’affaires of the US Embassy, Luis Arreaga, was quoted as saying: "This is one of the countries that fights hardest against this type of crime, and because of it we clarify that Panama is not on that list".

Technical Careers Offered
Conscious of lack of career opportunities, the government is promoting the development of disciplines that formerly were only available abroad in the aeronautics and the maritime sectors. The first step has been to approve the financing of loans for 1,000 Panamanians interested in studying, in Panama or overseas, any branch of aeronautics.

Hot Sauce Award
The Panamanian product Wald Hotty, a spicy sauce, gained second place in the design and marketing category at the "Chile Pepper-Zestfest 2006" Festival in Texas. The Panamanian sauce is made by Alimenticia Doraz, S.A. with Havana spices, vegetables and fruits.

Panama for Security Council
Panama aspires to be a non-Permanent Member in the UN Security Council in case Guatemala and Venezuela do not achieve the necessary votes on October 16, according to international press reports. Diplomatic sources contacted by the agency Europe Press and the American newspapers Chicago Tribune and Miami Herald, said Panama "would be the candidate of consensus", to occupy the position in the Security Council, in order to avoid a regional dispute at Latin American level.

US Ambassador Meets Panamanian Politicians
The US ambassador, William Eaton, is trying to maintain a climate of friendship with the Panamanian political leaders and he will meet with all the presidents of political parties. Eaton met yesterday with the president of the Democratic Change Party, Ricardo Martinelli. They spoke on the importance of the enlargement of the Canal.

Referendum for Canal expansion
It is expected that approxi-mately two million voters will turn out on Sunday, Oct. 22 to vote in the referendum on the expansion of the Panama Canal. They will be declaring a simple "yes" or "no."

This will be the fifth referendum in the nation’s history. Panama’s constitution stipulates that major issues pertaining to constitutional matters, such as the Canal, in this case, must be decided by a majority of voters in referendums.

A new financial institution has joined Panama’s international banking center. Banco Internacional Altas Cumbres Panamá (BIAC,) a Chilean bank founded in 1976, opened its first branch in Panama City in January of 2005 as an offshore center, taking advantage of the country’s dollar economy and strategic location. This year, BIAC Panama has expanded its private banking services, targeting regional and international investors.

The bank also has offices in Peru, Ecuador, Costa Rica, Brazil, Argentina, Guatemala and the Dominican Republic.

Ancon Hill:

Ancón Hill and the city, looking east.

The highest point of the Panama City area, Ancon Hill has served a number of purposes since the colonial period. The residents of the Old City of Panama, sacked and plundered by Sir Henry Morgan in 1671, chose a nearby site to relocate the capital of the Isthmus, as it was easily defendable from the summit of the hill, 200 meters above sea level.

A number of streams descending from the hill provided fresh water to the new city’s residents until the early 20th century, when authorities of the U.S.-administered Canal Zone leveled part of the hill to build military housing, thus destroying the streams. The "chorrillos", as the streams were called, were replaced by a modern system built by the U.S. Army Corp of Engineers.

The city's Old Quarter, seen here from the hill, was established on the Ancon peninsula.

The change was not at all easy for Panamanians, who considered Ancon Hill as a symbol of the fledging city, and angrily protested the American "take-over" of the landmark, the foot of which served as the official border between Panama City and the Canal Zone. The hill would be "off limits" for Panamanians for over 60 years, a fact that prompted poet Amelia Denis de Icaza to compose a nostalgic ode to the hill in 1906.

The 1977 Panama Canal Treaties returned the hill to Panama, which immediately placed a truly enormous flag on the summit.

Ancon Hill soon became popular among joggers, and school children who enjoy the commanding views of the city and Canal. Nature enthusiasts can observe numerous species of birds (including tucans), reptiles (such as the black-and-blue) dentrobites eurasta, and mammals (white-tail deer, squirrels).

A protected natural sanctuary, Ancon Hill is open daily from 8.00 a.m. to 5:00 p.m. Its summit can be reached on foot, depending on your physical condition, in about 30 to 45 minutes.

View of the modern city.

Profile

Laura, during one of the expat reunions.

At a recent happy hour sponsored by the Expat Explorers, Laura Alexander, welcomed everyone who came in.

About half way through the low-key evening of conversation and drinks, held on the terrace of Rino’s Restaurant, Laura called for everybody’s attention. The talk actually stopped, and the nearly 40 people in attendance turned to hear what their "leader" had to say, for the activities planned for them.

That’s what Laura Alexander does. This slim, vivacious, beack haired Canadian investor, who moved permanently two years ago after falling in love with Panama back in 2002, plans and organizes a wide variety of events and activities for members of the multi-national expatriate community.

Recent events included a museum visit and sunset dinner at the Miraflores Locks Visitor Center; a trip in dug-out canoes up the Chagres River to visit the Embera Indians; as well as a tour of local outlets featuring lighting, furniture and décor items.

As expat Bill Curtis put it, "I don’t know how she does it. She not only loves people; but she’s very dedicated and maintains an extensive calendar. And she’s always adding new things to do. With Laura, the ship is always on course."

Laura Alexander.

Steve Rich, another expat and regular contributor to The Visitor, agrees. "I don’t think we could find anybody better organized, or…" Rich adds with a wink, "more personable."

There’s plenty to keep organized. Upcoming events listed on the calendar, that can be accessed by contacting expatexplorers@expatsinpanama.com, include such international events as a Canadian Thanksgiving dinner and an October Fest; trips to El Valle and the Gatun Locks; and even a shrimp fishing expedition planned.

Laura told me: "The Expat Explorers started out of a call for help from the expat community. Once the excitement and stress of moving to "Paradise" finally started to wear off, the reality of the decision started to sink in. Many expats had not yet mastered Spanish, thus even finding out where the local grocery store is, can be a chore. Additionally, there was the craving to explore the country, yet a desire to share the experience with others. Thus the Expat Explorers was born."

Laura makes no profit from her role as leader, and often has trouble covering expenses.

She explained what motivates her: "Our goal is to learn, live and laugh and enjoy investing, settling and living in Panama with like- minded expats. There have been many wonderful new friendships born out of the Expat Explorers. What we need to do is help each other, with tips and how to avoid the traps, as we continue to explore, learn and enjoy."

All expats are welcome to join. There are no membership fees or obligations to attend; members simply select the event they are interested in. Maintaining such an organization seems like a full-time job, at least that’s retired American Jim O’Hayre’s impression. "She’s unique and dedicated. Laura devotes a lot of time and effort—too much sometimes, I tell her—it’s like a job."

Another member, Larry Buckman, seemed to agree. "Her energy is amazing. Without her, it just doesn’t happen."

To find out more about the Expat Explorers ,which is completely e-mail based, contact expatexplorers@expatsinpanama.com.

Part 2

Know what type of real estate you are buying

CONCESSION PROPERTY
Concession property is similar to a land lease arrangement, common in Mexico or Hawaii. This is where the government grants a Concession to an individual or an entity for a specific purpose, such as a real estate development, hotel, or marina. Most Concessions in Panama are granted for a maximum of 20-year (renewable) periods. However, some Concessions are granted for up to 40 years (renewable) in specially designated areas such as the Amador Causeway where commercial and condominium developments are currently being sold. Concession Property exists in special coastal or other governmentally protected areas where actual title is prohibited by law. In many cases, real estate developments on Concession properties offer investors time-share or fractional ownership arrangements, which are very common in Mexico and other resort-type coastal areas around the world. Unlike Possession Rights property, the government through a specific contractual agreement guarantees Concession property. Therefore, there is very little risk to the investor. Title insurance companies generally offer title policies for Concession properties.

ACQUIRING TITLE OVER POSSESSION PROPERTIES
"Titling Process" is the official administrative procedure to purchase Rights of Possession property from the Panamanian government. You are buying the property from the government and registering the Buy-Sell Contract with the Public Registry. Island properties cannot become "Titled" according to the Constitution of the Republic of Panama (only mainland can become titled). However, there are some titled Island properties, registered before the Constitutional restrictions existed, which can be sold. All beachfront titled properties require a 22 meter set back due to high tide.

TITLE INSURANCE
Even though Panamanian laws are set up to protect foreign investors, you should always take precautionary measures to insure your investment. I recommend Title Insurance for every property transaction. This is readily available in Panama through major international title insurers, such as LandAmerica Lawyers Title and Stewart Title. Title policy costs are minimal and the peace of mind is definitely worth the cost.

In Conclusion: Now that you have learned the different types of real property rights in Panama, you can take steps to protect your investments. Look for "titled" properties first. Make sure that you use a competent real estate lawyer to prepare your Promise to Purchase Contract, to conduct a thorough Title Search, and to prepare your Buy-Sell Contract. Hire a good Escrow company to ensure that all documents are registered with the Public Registry before making final payment.

If you purchase Rights of Possession, hire a competent real estate lawyer to prepare your Promise to Purchase Rights of Possession Contract, conduct Due Diligence, and to prepare your Buy-Sell Contract. Hire a professional surveyor to verify all-important facts. Protect your original documents from loss because they will not be registered.

Obtain Concession rights for using government property whenever you can. Again, hire a knowledgeable real estate lawyer to prepare your contracts.

Finally, purchase Title Insurance to protect your investments.

With these precautions, you should be able to enjoy full rights of ownership or possession of your new real property purchases.

Academy offers:

The academy also offers classes for children, ages 1-16.

A serious music academy recently established in Panama promises to become internationally known. The academy, Polifonía, founded by Panamanian pianist Luis Fernando Morales and his wife, French-born Edith Neron, has issued a special invitation to visitors and expats for long or short-term study.

A part of the Exedra Books bookstore complex, located on Vía España and Vía Brasil, in downtown Panama City, Polifonía offers harmony and sight-reading classes to adults, in addition to instrument lessons and music appreciation with the aid of expert teachers. Classes at Polifonía are offered in the evenings. Theory classes are offered in groups, and instrument classes are taught privately.

Children as young as a year old are also welcome at "Musical Kids", the day-time musical academy for youngsters up to 16. Professor Morales teaches the same European methods learned by Mozart as a lad. In addition to sight reading, harmony and private instrument lessons, the academy offers a monthly concert by members of the National Symphony Orchestra.

Approximately 50% of the students at "Polifonía" and "Musical Kids" are foreigners. Most of the staff have been trained abroad, and have a working knowledge of English and French. Professor Morales is fluent in many European languages.

The academy’s director, and founder, Panamanian concert pianist Luis Fernando Morales.

The director
The academy’s director, Luis Fernando Morales, spent over 30 years as a concert pianist in Europe, where he offered more than 300 concerts in 80 cities. Leaving Panama at an early age, Morales settled with his family in Spain, where he took his first lessons. At age 16, he enrolled at Brussels’ Conservatory where he studied with some of Europe’s most renowned musicians. He returned to Panama in 1993, where he has performed, both as a soloist or as a guest pianist of the National Symphony Orchestra.

Concert Dinners
Along with his wife, professor Morales organizes the "Dinner Concerts" held monthly at Restaurante Il Boccalino, featuring prestigious national and international artists. The next concert will take place on November 14 and will feature Panamanian violinist Graciela Núñez.