September 8, 2009

Panama

Whichever way you look at it, the Panama Canal must be one of the greatest investments. On a par with the USA purchasing Alaska from Russia perhaps. But the thing about the Panama Canal is that it offers a short cut that effectively misses out all of South America. Not good news for an entire continent perhaps – but pretty handy just the same.

I noticed that when that teenager sailed single-handed around the world the other day, he seemed to go through the Panama Canal and missed out on the dubious excitement of rounding Cape Horn. I’m not sure how easy it is to do a spot of sailing on the Panama Canal though. He must have cheated and used his engine.

There is something about Panama and epic journeys. That canoeist who disappeared off the beach at Hartlepool turned up in Panama. It sounds a long way to paddle – but his rather bizarre subterfuge was just an excuse to invest in Panama real estate. I would imagine the grieving offspring were a tad surprised to see their presumed-dead Dad gurning with a Panama real estate exec in the daily papers.

But I don’t think you have to go to the extreme of faking your own death to invest offshore. Most weeks my post contains many an offer from the world of offshore financial service.

Usually these are high street banks and building societies urging me to get a foreign currency current account. Sometimes I get delightful brochures on picture-perfect foreign holiday homes, without which my life would apparently be incomplete.

But we live in an era when even a bit of spare cash invested with Ing is effectively an offshore investment. And going offshore is surely one of the key benefits if you invest in Panama real estate. Thanks to the Panama Canal – you can set sail for the Pacific or the Atlantic just by turning right or left when you leave the marina.

There can’t be many places in the world which offer you such a great choice. A wonderful climate, excellent real estate – and the opportunity to sail around the world almost at the end of your garden.