Call Centers, Real Estate and Investing in Panama

With the long US presence in Panama there is a substantial portion of the Panamanian population who speak English. In face, by law English is Panama's second language. The number of outsourced call centers in Panama testifies to the number of educated Panamanians whose English passes the test of conversation. Despite the large number of call centers in Panama there is a continuing need and opportunity for investing in call centers in Panama. If you don't want to run the call center you can buy the Panama real estate and rent to the expatriate entrepreneur who does.

Spoken English and the US presence in Panama

As the narrowest part of the Americas Panama become the site of a canal connecting Atlantic and Pacific. From the start of construction in 1906 until the US handed over the Panama Canal to Panama in 1999 there was and still is a strong US presence and influence in this beautiful and democratic tropical country. Many long term employees working in the old Canal Zone speak nearly native English and have insisted that their children learn English also.

Where Spoken English Makes a Difference in Panama

Because of its international significance as the site of the Panama Canal as well as its strong banking and insurance industries Panama has had a need for fluent English speakers in its business community. Many professionals are completely bilingual. One of the Panama investment opportunities that ties into this wide spread fluency in English is in outsourced call centers in Panama.

Panama has a number of advantages when it comes to what the professionals call business process outsourcing. Starting with its large number of English speakers, strong banking sector, its central location for global transport, and excellent communications systems Panama is an excellent location to which to outsource. Panama's pay scale is substantially below that of North America and Europe.

Call Centers, Real Estate, and Investing in Panama

Panama has seen a flood of expatriates moving here. They take advantage of Panama's residency laws to retire here or to start a new, prosperous life. One of the routes to Panamanian residency is the investor visa. This requires an investment as well as the employ of at least 5 Panamanians full time at minimum wage. Although you will not be able to employ English speakers in a call center for the minimum wage of $1.50 an hour you can employ beginning employees for $500 a month.

Despite a run up in real estate prices in Panama with its current economic boom real estate in Panama is still inexpensive by North American standards. Commercial real estate is very attractive in Panama as it is free of rent controls. A purchase of Panama real estate followed by setting up a call center of only five employees will get you permanent residency here. Taking the job seriously, contracting with the right international corporation and setting your prices right will make you money.

If you are not interested in running the call center think of purchasing real estate in Panama and renting or leasing to one of the many North American expatriates who are looking for a place to prosper in this tropical paradise.

For more insight into business opportunities, investing, and real estate in Panama come to see us at ABPanama. We do business throughout the Panama and have over 23 years experience managing real estate portfolios.