Retire in Panama
Why would you retire in Panama?
Panama is one of the best places in the world for retirees today, combining a low cost of living, near-perfect weather and one of the world’s best discount programs for retirees, with up to 50% off everything from public transport to movies, mortgage rates, doctor’s visits, electricity, restaurants and airfares an international direct flights to Panama everyday.
When you compare Panama with its neighbors, you’ll see that it has more amenities than traditional retirement spots such as Mexico and Costa Rica, with lower costs and crime rates. In Panama, you’ll encounter less red tape and less interference from local authorities.
To encourage long-term foreign investment, Panama requires no special authorizations, permits or prior registration for foreign investors. The Investment Stability Law, passed in 1998, protects foreign investors from any change in tax, customs, municipal and labor rules for a period of 10 years after an investment is registered. Major companies doing business in Panama include Federal Express, DHL, Sears, Price Costco, BellSouth, Kansas City Southern Railways, Continental and American Airlines, Warranty Company of the Americas and Hutchison Whampoa. Plus, you’ll find just about every American franchise you can imagine on the streets of Panama City.
And there are other incentives for foreigners to retire here. For example:
When you applied for the Panama Pensionado Visa you get:
- 50% Discount on movie theaters, cultural, and sporting events
- 50% Discount on hotels Mon‐Thurs *30% on weekends
- 30% Discount on other transportation
- 25% Discount on restaurants
- 25% Discount on airline tickets
- 20% Discount on doctor bills
- 20% Discount on medications
- 20% Discount on professional and technical services
- 15% Discount on hospital services if no insurance applies
- 15% Discount on dental and eye exams
- 5% Discount on utility bills
- 1% Discount on home mortgages for personal residence
Benefits when you Retire in Panama:
Panama has been declared by many, to be the most preferred location to retire for North Americans outside the US. Many believe Panama tops the list of Central American countries for quality of life, health, education, and economic and personal well being.
Panama has the highest level of communications infrastructure for telephone, fax, internet, and cellular communications in all of South and Central America. As well as offering, the most sophisticated international banking center in Latin America, with more than 150 banks from over 35 different countries.
Panama offers world class medical care at affordable cost and is home to the John Hopkins International Medical Center. Private education is excellent! Panama has many international schools offering bilingual options.
Panama’s legal currency is the US dollar, eliminating currency exchange issues. The cost of living for rent, homes, services, utilities, transportation, food, etc. are well below US and European prices.
Panama City is fast becoming a shopper’s paradise. Whether you are shopping for fashion, computers, electronics, or automobiles, you will find it all there.
Panama has a perfect climate with temperatures between 77 and 87 degrees year round. The country is home to world class, deep sea fishing, surfing, and diving and snorkeling.
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