Retire in Panama

More than Just Palm Trees

Many people are now considering retiring in Panama – it is already one of the top adventure and eco-tourism destinations and now, it is fast becoming the top retirement destination.  In the US alone, there are 78 million Baby Boomers who will retire in the next ten years.  All will be looking for a place to live where their pensions will go further. 

Though Panama uses the same currency as the United States, their cost of living is a lot cheaper.  The government is very generous with their taxes and is very accommodating to retirees.  Thus, more and more people are opting to retire in Panama. 

Panama’s status as the destination for retirement has come of age.  In fact, recent polls done by several magazines show that more people choose to retire in Panama nowadays.  They have concluded that Panama is among the top 3 best retirement destinations worldwide. 

So why are people opting to retire in Panama? For one, Panama has a strong economy and a stable government. Second, residents and foreigners that choose to retire in Panama pay no tax on money earned overseas.  Also, foreigners can buy property and own them legally in Panama.

Incentive programs for retirees are also available.  There is also property tax exemptions that apply to new constructions.  Due to the canal, America's presence in Panama is always strong.  Products and services you can find in the US are also available in this palm tree filled land.  This makes more and more people comfortable of the idea to retire in Panama – because they feel right at home. 

The Panamanians are one of the friendliest people – and the community that prefers to retire in Panama is growing so they have a lively social life.  Panama also has excellent communication and good infrastructure that reflect prosperity and growth of the country. The property here is affordable – half the price of properties in Florida or Arizona. Also, Panama has easy access – just a few hours from the southern states by plane.

Panama is a beautiful country with something for everyone.  People, who yearn for paradise, but with a twist, retire in Panama.  It has everything from rainforest, abundant wildlife, stunning beaches to mountains.  Panama is no longer provincial as others may perceive.  It is a bustling place where a lot of tourists and locals harmoniously mix. 

When you retire in Panama, you get all these plus a whole lot of benefits which include tax exemption to car importation every two years;  25% to 50% discounts on utility bills, airline tickets, loans, doctor's bills, hospital services, medicines, professional and technical services and even entrance to movie theaters, sporting and cultural events.

Panama is a relatively young nation; it is still in transition. However, great strides are being taken. Those who opted to retire in Panama are unaffected by these youthfulness.  In fact, others see this as a great challenge – to grow with the country you live in.  Panama takes pride of their hospitality and friendliness to foreign retirees.  They treat them as locals and part of their growing community.