There are no taxes applicable to any "foreign" earnings in Panama. EG if you have a Panama corp for net stuff - no taxes and no need for any filings other than an annual govt fee of $350/year for the corp.
Property is increasing in value every year - it varies by location but going to be in the 20%-50% per annum. Development/construction in Panama is already happening and increasing.
There are around 140+ banks in Panama. Of these, at least 40 are major international banks.
Climate is tropical with two seasons - rainy and dry. The rainy season is from May to December. Temperature varies depending on location, but around 80% during the day and approx 60% in mountain locations. The temperature does not vary much whether in the dry or rainy season (and the rainy season is not unpleasant - often just a heavy shower for a hour a day).
People are friendly and laid back. Though the main language is Spanish, English is not uncommon in city areas in particular. As with any major city, you would not walk down a street flashing bank notes:-) Crime is generally on the low side.
There are various forms of residency (recommended if you intend to buy a home) and less complicated than several other countries. Currently Visa's only last 30 days (as opposed to 90 days) for most industrialized countries, but that may change back to 90 days in the near future.
Around 30% of Panama is national parks or protected areas. The rainforests are very rich in animal and plant species. Panama does not have hurricane's (they can be a hassle in down time if you work on the net). There are hundreds of coastal islands off Pamana - Bocas del Toro and San Blas areas (Caribbean coast) are appealing to developers/clients and the only downside is that development can cause damage to the ecology in these areas - but they are heavy-demand real estate locations.
Overall - temperature can be on the high side especially if you are not used to it. The business environment in Panama is better than most Central American countries. Real estate is increasing rapidly - good investment prospects. Lifestyle is a plus - far superior to most industrialized countries.
Re the link to a trauma story of a US citizen in Panama. The full detail of that is not known. There are crooks everywhere - not just in Panama. As a guide - never associate with people you would not elect to associate with in your home country - this seems to be a very common failing with folks who move to other countries
