Panama has been recently rated by many international magazines and newspaper articles among the top places for retirement in Latin America.
Said statements can be very subjective due to the fact that at the end it will depend on each person point of view; however, in order to make your decision, we are listing below some of the main advantages for retirement in Panama.
• Retired discounts: Panama offers a special discount program to those who choose to retire in there; through the Pensionado program it is possible to get discounts between 10-50% on everything from food to hotel to entertainment to airline tickets. It’s not the cheapest place, but the many other benefits have many expats choosing Panama over nearby places in Central America.
• Tax advantages: No property taxes for 20, 15, 10 or 5 years depending on the property.
Import tax exemption on household goods and/or cars. Other taxes apply.
No income tax for businesses and operations performed outside of Panama.
• Cost of living: Between $1120 – $8,000, estimated living costs for two people. This is rapidly changing, however, the standard monthly cost of living, including domestic and professional services, food, entertainment, real estate and additional expenses are substantially lower than in many countries particularly Europe and North America.
• Health and care services: Modern and trustworthy private medical services and facilities are available. Medical treatments and procedures are considerable lower than other countries.
• Visas: The minimum requirement of $1000 USD for a Panama pensionado Visa and is a simple process and takes bet
• Infrastructure: Panama modern Infrastructure is evolving every day and includes highways, up to date communications systems, shopping centers, hospitals and some of the highest rated banks.
• Travel, culture, recreation: Panama offers a wide selection of places to visit including beautiful islands, a modern city, a booming night life, excellent and varied gastronomic options, good shopping, highlands, rain forests and beautiful beaches on the Pacific and Atlantic Ocean.
• Climate: Temperature in Panama is basically the same all year, we only have a dry season and raining season; however, even at raining season we can enjoy a beautiful sunny set of days. Temperatures are hot and humid in the lowlands (between 24c° and 34c°) and cooler in the mountains (between 15-24).
Article about it, The 10 best places to retire abroad, Panama #2, Have a look, HERE!
An Expat guide to the Panama Pensionado Visa, have a look here please, Have a look, HERE!