Why Retire in Panama?

If you've been wondering, Why retire in Panama, let Helen ask you, Why not?

retired couple on a beach in Panama Panama is fast becoming one of the top retirement destinations on the planet and for some very good reasons. With a modern infrastructure and a strong North American cultural influence, Panama offers an easy transition from the West.

Why Retire in Panama?
The Range of Climates

Panama has warm weather all year round. It has mountains if you want to be cooler and beaches & rainforest if you never want to wear a pullover again.

Why Retire in Panama?
The Low Cost of Living

Bocas Sea in PanamaThe cost of living in Panama is low so it is affordable both to live as well as buy real estate. In terms of perfect property for retirement there is something for everyone: condos with security and all sorts of on-site facilities, modern super luxury penthouses in the center of town, pretty ocean front homes with a jetty and a boat, island hideaways with monkeys and parrots for neighbors or cool sophisticated properties in the mountains with gardens and views over the coffee plantations.

Why Retire in Panama?
The Special Treatment of Seniors

The Panamanians really know how to treat the older generation and Panama has one of the most generous national retirement packages in the world. It includes
  • Import tax exemption for household goods up to $10,000
  • Tax exemption to import a new car every two years
  • 25% discounts on utility bills
  • 25% discount on airline tickets and 30% on other transportation
  • 15% discount on loans made in your name
  • 1% reduction on home mortgages for homes used for personal residence
  • 20% discount on doctor's bills 15% on hospital services if no insurance applies
  • 15% off dental and eye exams
  • 10% discount on medicines
  • 20% discount on bills for professional and technical services
  • 50% discount on entrance to movie theatres, cultural and sporting events
  • 50% discount at hotels during Monday to Thursday, 30% on weekends
Secret beach in Panama Not only this but getting a resident visa is incredibly easy for retirees.

Why Retire in Panama?
Panama Is Better Than Home

You need more reasons? Ok, then, here are a few more….
  • Panama has a stable government and a growing economy.
  • The US dollar is the legal tender. Panama has a stable economy that has been based upon the U.S. Dollar since 1904.
  • Residents pay no tax on foreign earned income.
  • Foreigners can buy and own property in Panama with the same rights and protections as Panamanians citizens.
  • Tourism investments have exemptions from import duties, construction materials and equipment, income, real estate taxes, etc.
  • English is widely spoken.
  • The US presence in the country for many years has lead to a US style infrastructure with a number of familiar names and businesses.
  • Panama has a number of US standard health care facilities and services with many US trained English speaking doctors available.
  • Panama has a reliable communications system with fibre optic telephone lines and much of the country has ADSL Internet.
  • Panama is one of the best offshore havens in the world.
  • Panama is much cheaper than the US & Europe.
Last but not least, Panama is beautiful, the people are friendly and life is about as stress free as a life can be.