Panama offers incomparable advantages for the potential retiree or foreign resident. This country has great weather, a low cost of living. Additionally, it has a foreign-resident-friendly tax system, and one of the best banking systems in the region. The political situation is stable, and it has a bright economic outlook.
Panama has the world’s best program of discounts and perks for foreign retirees. No wonder Panama’s quickly become a top retirement haven.
You will fall in love with this multifaceted tropical country. Choose to settle in cosmopolitan Panama City, a calm sunny beach like Coronado, or in a cool mountainside town like Boquete. Your options are limitless.
If you rush south during winter, you’ll appreciate the year-round warm climate in Panama.
Panama’s Retirement Benefits
Finding another country with the same level of retirement benefits is difficult. The pensionado visa makes retiring in Panama easy, even if you are well below the typical retirement age. Benefits include discounts and conveniences that range anywhere from 15% to 50%. These discounts include restaurants, medications, transportation, and a whole lot more.
There’s a tax exemption to import your household items when moving to Panama. Other conveniences include special programs at participating businesses and even express lines. Retirees are able to forgo the usual lines at banks and some government institutions.
In Panama, you will never be bored. You can go to the theater, catch a movie, attend a concert, or watch the regular sporting matches. Enjoy all these activities for half-off when you retire in Panama. Your current entertainment budget could be cut in half.
Panama, the hub of the Americas, is attracting people from all over the world. The culture and cuisine mix allows you to taste some of the best meals. Enjoy from Caribbean to Chinese cuisine, and from French to Italian cuisine. What’s more, enjoy dining at restaurants and save on the bill. Restaurants give retirees anywhere from 15% to 25% off.
See the Panama Visa and Residency Information section to read more about the benefits of retiring in Panama.
Reasons To Retire In Panama
Panama is the world’s top retirement choice for the following reasons…
The Cost Of Living Is Affordable
Outside Panama City, it remains downright cheap. You could retire to the beach in Las Tablas on the country’s Azuero Peninsula on a budget of US$1,200 per month or less.
The Sun Shines Year-Round
Panama City can be too hot for some retirees’ tastes. But, look beyond the capital and find pockets of near-perfect climates. For instance, if you prefer cool mountain temperatures, consider Boquete. Also consider less discovered, and thus more affordable, Santa Fe.
The Retiree’s Path Is Well Worn
Panama has been attracting foreign retirees in growing numbers for more than a decade. It offers many options for establishing residency if you want to live here full-time. Plus, it’s home to established and welcoming communities of expats and retirees.
You Can Get By Without Speaking Spanish
In Panama City, learning Spanish isn’t a must. However, we recommend you do.
Health Care In Panama Is Of An International Standard
Panama City is home to Hospital Punta Pacifica. It’s the only hospital in Latin America affiliated with and managed by Johns Hopkins Medicine International.
The cost of medical care is a bargain. Like everything, medical costs are higher in the city than elsewhere in the country. Still, a doctor’s visit costs about US$50.
Local Panama health insurance can cost US$100 per month or less.
The Infrastructure Is Of A High Standard
This is a place where things generally work. The internet, cable TV, phone service, etc., are all as reliable as anywhere in the States. The roadways and highway systems are constantly expanded and improved. Furthermore, Panama City is an international banking center. Here, you’ll find banks from all over the world and ATMs on every corner.
The currency is the U.S. dollar. As a result, U.S. retirees have no currency-exchange risk or exposure.
Panama City is also an international travel hub, very accessible from North America. The flight from Miami, for example, is about two and a half hours.
Panama’s pensionado program of special benefits and discounts for foreign retirees is the current Gold Standard. Save as much as 50% on restaurant meals, in-country airfares, and prescription medicines. Likewise, save on closing costs on your new beach house.
For more information on retiring in Panama, go to the embassy page here.
What Retiring In Panama Offers To Many
This is a nature-lover’s paradise. Some of the world’s best surfing, snorkeling, diving, bird watching, and hiking are here. You’ll also have a variety of adventure-travel opportunities.
Panama is a safe, welcoming place to call home.
Retirees you meet here aren’t losing sleep over their futures. Instead, they’re embracing them.
This is one of the world’s top destinations for retiring overseas according to the AARP and the New York Times.
Does that mean Panama is where you should retire? Keep in mind, nowhere is perfect. Plus, no one place is right for everyone.
We recommend you take a close look at what Panama has to offer if you’re in the market for a place to reinvent your life. The best way to do that is to see Panama for yourself.
Tens of thousands of folks like you have already chosen to retire to Panama. Additionally, thousands are starting businesses and investing in property. They’re reinventing their lives and taking control of their futures.
