Highlights of Retiring and Living in Panama

So why is Panama gaining in popularity among retirees, investors, and part-time expatriates? Not only because of increased publicity – Panama has more amenities, lower costs and lower crime rates than many other traditional retirement locations. In fact Panama’s advantages are unrivalled. Apart from tax advantages and privacy advantages, consider the following 10 reasons to retire in Panama.

1. Panama has a stable government and a growing economy.
2. The US dollar is the legal tender. Panama has a stable economy that has been based upon the U.S. Dollar since 1904.
3. Residents pay no tax on foreign earned income.
4. Foreigners can buy and own property in Panama with the same rights and protections as Panamanians citizens.
5. Panama has modern hospitals and health care facilities with many US trained English speaking doctors available.
6. Pensionado or Retiree program, the best in the world.
7. One of the biggest plus of retiring in Panama is the affordable cost of living. Panama is substantially cheaper than other competing destinations.
8. Panama is one of the safest countries in Latin America. 
9. English is widely spoken.
10. Panama has modern infrastructure with internet and cell phones all over the country. Excellent transportation and metro system.

Last but not least, Panama is beautiful. From cool mountain retreats like Boquete, to affordable beachfront property, or cosmopolitan city apartments overlooking a stunning harbor, the choice is yours. With real estate prices beginning to rise, you also have an opportunity to make a considerable return on your investment if you buy now. Rental property is in high demand particularly in the highland areas, so even if you are not looking to retire for a while this is an opportunity to get into the market and earn a return on your investment in the meantime. To view properties, farms, houses, condos, islands in different parts of Panama, visit our Real Estate Marketplace.

To encourage long term foreign investment, Panama does not require special permits, authorization or registration to qualify investors. The 1998 Investment Stability Law protects foreign investors for ten years following the registration of an investment, shielding them from changes in tax, customs duties, municipal and labor laws. Major companies doing business in Panama include Federal Express, DHL, PriceSmart/Costco, Marriott Hotels, Holiday Inn, Sheraton Hotels, Waldorf Astoria Hotel, Hilton Hotels, Kansas City Southern Railways, United, Delta and American Airlines, Warranty Company of the Americas and Hutchison Whampoa, to name but a few. You will find just about every US franchise on the streets of the larger cities from Mc Donald’s, Dominos, KFC, Pizza Hut, TGIF to Dunkin Donuts etc.; luxury clothing lines such as Polo, Tommy Hilfiger, Hugo Boss, Chanel, Dolce, and Gucci have stores in Panama City. You will feel right at home.

Over 80 banks have full service branches here including  Scotiabank, MultiBank, Banco General, UBS, and there are no “brass plate” banks here. Panama is a growing international financial center with good communications and first world amenities.Below is a summary of the different Visa & Residency programs available in Panama. If you wish to view any specific program, just click in the Link.