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Panama vs. Belize: Which is Best For You?

Find Out If You Should Move To Panama Or Belize

Live And Invest Overseas by Live And Invest Overseas
Dec 06, 2020
in Belize, Panama, Retirement/Living
0
Senior Couple Sitting On Wooden Jetty By Lake

iStock/monkeybusinessimages

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When considering the best places to retire, many people dream about living abroad in a warm, tropical or highlands location where they have easy access to the States or Canada. Panama and Belize share these benefits, but they are also different in many ways.

So how can you decide which country may be your perfect fit? Here’s a quick comparison of these two locations that always score high on our list of the best countries for expats.

Retirement Benefits

Senior Couple Enjoying Meal At Outdoor Cafe
iStock/monkeybusinessimages

In Panama, you need to prove at least US$1,000 per month in regular retirement benefits to qualify for Pensionado visa status. You’ll enjoy discounts on travel, hotels, restaurants, hospital and medical expenses, and some services. The low threshold amount and discounts make Panama one of the cheapest places to retire.

To qualify under the Qualified Retiree Program (QRP) in Belize you must show US$2,000 per month and stay in the country for at least 30 days consecutively each year. This program offers duty exemptions for the first year if you bring personal belongings into the country and some tax incentives.

Currency Exchange

Background of different american dollars bills and coins
iStock/OlyaSolodenko

This category is basically a draw. Panama uses the U.S. dollar while Belize’s dollar is pegged to the U.S. dollar at a 2:1 ratio. You’ll experience no benefit or detriment of an exchange rate swing and always know how far your currency will go.

Proximity to the States and Canada

Commercial aircraft cabin with rows of seats down the aisle
iStock/Diy13

Both countries offer convenient flights to North America. From Panama, you can expect four hours to Texas and Florida, while a similar flight from Belize will take around three hours.

Language Barrier

Woman talking with alphabet letters coming out of her mouth.
iStock7SIphotography

English is the official language in Belize, although you’ll hear many different local dialects including a creole patois. Spanish is the official language of Panama, but in the larger cities you can get by with English and much of the country is bilingual.

Personal Safety

Close-up Of A Person Stealing Purse From Handbag
iStock/AndreyPopov

Panama boasts one of the lowest crime rates in Central America, especially outside of the capital, Panama City. Belize has a higher overall crime rate per capita because it’s much smaller than Panama, but most criminal activity is found in Belize City and we don’t recommend living there.

Weather and Lifestyle

Mercury thermometer marking 39 degrees Celsius 100 Fahrenheit in a sunny day.
iStock/Cylonphoto

Both countries have hot and humid locations, especially along the coasts and in the largest cities. Belize offers pleasant inland living around the Cayo region and Panama has lovely highlands with more moderate temperatures especially at elevation.

Panama City is known for its traffic, a frenetic pace, and questionable sidewalks that make getting around a challenge. Outside the capital, driving is easier and the towns more friendly. The overall vibe in Belize is laid-back and friendly, but the infrastructure may be less modern than you are used to.

The best way to answer the question, “Where should I live?” is to do your research and then visit potential locations to truly get a feel for the place. For great weather and proximity to the States and Canada, you should keep Belize and Panama on your shortlist.

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Tags: 'Cayo''panama city'Belize vs. Panamalive overseasmove overseasMove to BelizeMove to Panamaretire in panamaRetire in Philippinesretire overseas
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Live and Invest Overseas is the world's savviest source for top opportunities to live better, retire in style, invest for profit, do business, and own real estate overseas. Established in 2008, the Live and Invest Overseas' editors and correspondents have more experience researching and reporting on top opportunities for living well, investing for profit, doing business, and owning real estate around the world than anyone else you'll find.

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