Retire Panama

If you are looking to retire overseas and enjoy a quality of life much better than you currently have, then there is a good chance that a retirement in Panama is the way to go.
Panama is an exotic paradise and may be one of the most breathtaking countries in all of Central America, boasting beautiful skyline aesthetically comparable to many major U.S. cities. It possesses hundreds of miles of unspoiled beaches, beautiful mountain scenery, and temperate climates with exotic rainforests. Also, there is a large amount of real estate for sale. Finding a new home should be an easy task. Whether you are looking to purchase a luxury apartment, beautiful property in the mountains, or a sprawling lot for sale on the beach, Panama offers it all.

Retirees Taking Advantage of Panama’s Red Hot Market

It is expected that 80 million baby boomers will retire in the next 5-10 years, and 5% are expected to move to a tropical destination; and it is no real surprise that about one million of which are likely to call Panama their home. Together with quality construction at reasonable prices, excellent rental returns, exceptional room for capital growth on investment property, waterfront investment property and the property tax exemptions, Panama has become an extremely desirable place to invest in your future.

Also, this tiny Central American country offers safety, affordability and accessibility packed into a beautiful, tropical landscape, bounded by the bluest seas, hundreds of miles of white-sand beaches, and thriving natural wonders.

Some Investment Incentives

Health care in Panama is inexpensive and modern. You will not have the fears of moving to a new location with a substandard health care system. Good quality health care and modern hospitals are available throughout the country. Many Panamanian doctors are U.S. trained and hospital standards are on par with what you would find in North America or Europe. As a special bonus to retirees an additional advantage is that both private health insurance and prescription drugs are readily available – and much less expensive than their U.S. equivalents.

Panama has no military. Following the end of General Noriega’s regime, the Panamanians decided they would never again fear a military dictatorship. They have a national police force and the territorial integrity of Panama is guaranteed by the United States. They feel they do not need a military and they have the good sense to know it.

Panama’s people are very warm, friendly, pleasant individuals and they welcome Americans and Europeans as well as all foreigners into their country. Panamanians are perfectly comfortable with people from other nations. They lived among foreign visitors for decades and many of their visitors remained to become residents. It is said that 80% of the population is entirely or partially of European heritage, with the remainder made up of West Indians and Native Americans. However, the population has inter-married to such an extent that it is really difficult to separate people into traditional ethnic or racial groups. Also, 14% of the people speak English.

The cost of living in Panama is far less than in the U.S. or Europe, especially for retirees, who receive tremendous bene

fit incentives. Approximately how much you will save by living in Panama depends on the amount you spend in your home nation and the lifestyle you choose in Panama. There is such a great variety among expatriates that it is impossible to tell you exactly how much you will save, but one thing is for sure, if you opt to spend less, you will find it far easier in Panama than in North America or Europe.

The currency is the U.S. dollar. The Panamanian Constitution forbids the government from printing paper currency, and it cannot just turn on the printing presses when it wants more money. Panamanians have to earn their currency from the world market through hard work and intelligence and as a result, they do not experience any of the wild inflation that has plagued so many Latin American nations. Besides these incentives, there are special benefits offered to retirees that will blow your mind.

Special Benefits

Some of the special benefits offered to retirees are as follows:

>50% off all entertainment, including movies, theatre, concerts, as well as recreation, cultural, sporting events, and more.
>25% off restaurant prices.
>25% off airfare with private or public, national or foreign companies.
>15% off hospital and private clinic services.
>20% off specialist and general medical consultations and surgeries, and 15% off dental and eye exams.
>20% discount for technical and professional services (lawyers, architects, nurses, physical therapists, etc.).
>20% off the price of any prosthesis device and assistance accessories.

Also, when they buy real estate in Panama, they will receive special offers such as: 50% off closing costs of personal and commercial loans, 15% off maximum interest rate on personal and commercial loans, and 1% off interest rate for home loans on personal residence.

If this is not enough, they also receive a one-time exemption on the importation of household goods of up to $10,000 and will additionally enjoy an exemption every two years from duties for the importation of a car.

All these amazing benefits used to be top secret, but not any more. Thanks to the many publications of Harper’s Bazaar, The Boston Globe, USA Today and the New York Times, retirees have become informed about Panama’s many attributes. Its no wonder, that Panama has been ranked the number one retirement destination in the world for six consecutive years by International Living and it is quite apparent why the real estate in this country is so appealing for North American and European retirees.