Panama Facts

•Panama's government is a Constitutional Democracy, (Republic of Panama)
•Panama has a total area of 78,200 sq. kilometers. It's slightly smaller than South   Carolina
•Panama's population is just over 3 million
•Panama has the Pacific Ocean to the south and the Caribbean Sea to the north
•Panama is bordered by Costa Rica to the west and Colombia to the east
•Highest point is Volcan Baru at 3,475 meters (11,411 ft)
•Panama has over 1,500 islands
•Panama is divided into 9 provinces, Bocas del Toro, Chiriqui, Cocle Colon, Darien,   Herrera, Los Santos,   Panama, Veraguas and one territory, San Blas: Kuna Yala
•Panama's currency is the Balboa and has been equally exchanged with the US dollar   since 1904
•The President and Chief of State in Panama is Ricardo Martinelli
•President Martinelli completed his secondary education at Staunton Military Academy in  Virginia. He graduated with a Business Administration degree from the University of  Arkansas.  
•Panama has no military
•Panama's average coastal temperature is between 77 and 87 degrees Fahrenheit year   around. Highland areas are cooler.
•Panama is only 2.5 hours flight from Miami
•Entry requirements are a valid passport and a Panamanian tourist card
•Panama in located in Eastern Standard Time
•Panama strongly encourages foreign investment and development
•Panama ranked among the top four places in the world for an inexpensive retirement   by International   Living Magazine
•Full time live-in maid costs about $250 per month
•Colon Free Zone is located in Colon and is the largest free trade zone in the Western   Hemisphere
•Panama has the second largest number of offshore-registered companies in the world
•Over 40 banking laws exist in Panama to protect the business nature of foreigners, such   as banking   privacy laws as well as foreign/local investor equality laws