Retire in Panama

Are you looking to retire overseas and enjoy a quality of life much better than you currently have? Maybe even retire much earlier than you were expecting to? If so, then there is a good chance that retiring in Panama is what you are looking for.

Panama is the absolute number one destination in the world in which to retire. In fact, Panama has remarkably topped "International Living"s Retirement Index for six years straight. The amazing benefits of retiring to Panama used to be a secret, but not anymore. "International Living" is no longer the only voice encouraging people to retire to Panama – respected publications including Harper's Bazaar, the Boston Globe, USA Today, and the New York Times have all recently published articles about Panama's many attributes.

Retire to Comfort & Luxury

Panama offers a very comfortable retirement solution in part because the nation is much more developed than most visitors expect. Many who attend conferences on Panama or take real estate tours are shocked by the modernity of Panama and the clusters of skyscrapers that define Panama City's skyline. All of the amenities one could wish for are all readily available in Panama.

Not only will you have access to all of the luxuries and comforts of your current life when you retire in Panama – you will have access to more of them because of Panama's lower cost of living. By retiring in Panama you will enjoy the benefits of a developing economy where you can still take a taxi across town for a buck or two, get your haircut for a couple of dollars, or enjoy dinner with a bottle of wine at one of the finest restaurants in Panama City for a mere $30. There are also lots of activities for you to enjoy – from jazz clubs to art openings to English-language theater performances. You may be wondering what you will do when you retire – but when you retire in Panama, you will never find yourself bored.

Inexpensive Real Estate & Health Care

Consistent with the generally low cost of living in Panama is the affordability of available real estate. Whether you are looking to live in a Panama City high-rise apartment, a condo in a gorgeous beachfront community, or a house in the temperate mountain regions, you will find very reasonably priced real estate to suit your needs and desires. Most people who come to retire in Panama find themselves enjoying the property that they have always dreamed about but have never been able to afford.

Health care in Panama is also both inexpensive and modern. Many people considering retiring to Panama often fear moving to a location with a substandard health care system, but such worries are unfounded here. Good quality health care and modern hospitals are available throughout the country. Many Panamanian doctors are U.S.-trained and hospital standards are on par with what you would find in North America or Europe. Particularly appealing to those looking to retire in Panama is an important additional advantage: both private health insurance and prescription drugs are readily available – and much less expensive than their U.S. equivalents.

Prices for prescription drugs are low as well, because manufacturers price them for the market. Plus, many drugs that require a prescription in the States are available over the counter in Panama.

Panama's Unmatched Retiree Program (Pensionado Program)

A final benefit of retiring to Panama that must not be overlooked is Panama's incredible pensionado (retiree) program. Panama's pensionado program, in its current form, was created with the passing of Laws N°6 and N°9 in June of 1987, which provide those who retire to Panama with the most appealing program of special benefits available in the world. To be eligible, the only requirements are that you are at least 18 years of age and receive a pension income of $500 or more from a government agency or a company. Under the pensionado program you will be entitled to:

    • 50% off entertainment––such as movies, theater, concerts, and sporting events
    • 30% off bus, boat, and train fares
    • 25% off airline tickets
    • 50% off hotel stays from Monday through Thursday
    • 30% off hotel stays from Friday through Sunday
    • 25% off at restaurants
    • 15% off at fast-food restaurants
    • 15% off hospital bills (if no insurance applies)
    • 10% off prescription medicines
    • 20% off medical consultations
    • 15% off dental and eye exams
    • 20% off professional and technical services
    • 50% off closing costs for home loans
    • And more…

As if that is not enough, pensionados also receive a one-time exemption on the importation of household goods of up to $10,000 and will additionally enjoy an exemption every two years from duties for the importation of a car.

It is quite obvious that the government is vigorously trying to attract people to retire in Panama . You cannot ask for better circumstances, or hope to find them anywhere else in the world. Retiring to Panama is truly an unparalleled opportunity.

Panama Is a Convenient, Modern Destination

Many Americans favor Panama as a destination because it is so close to the United States. There are dozens of quick, direct flights going to and from the U.S. daily. Moving to Panama, therefore, does not separate you from friends and family to a great extent. In fact, a move to Panama from New York is little different than a move to California from New York.

Panama is also far more developed and modern than most people anticipate. The idea that moving to Panama means a move away from the first world could not be further from the truth. People who move to Panama can typically find the same luxuries and amenities that they would hope for anywhere else, and can even afford more of them due to Panama's low cost of living.

Panama encourages retirees and other expats to move to Panama by offering a very straightforward visa program. For people who have decided to move to Panama there are a variety of available visa types, including: the Tourist Pensioner Visa, the Private Income Retiree Visa, the Person of Means Visa, the Small Business Investor Visa, and the Forestry Investor Visa.

If you are considering moving to Panama with a family, then you will be pleased to know that Panama is an excellent place for kids…of all ages. Panama offers a wealth of outdoor activities and cultural activities that will ensure that your children will never be bored. Looking back, your kids will undoubtedly appreciate that their move to Panama was an incredible, childhood-enriching experience.

It is also easy to take your pets with you when you move to Panama. There are some basic requirements, including an in-home quarantine requirement, but overall the process is quite simple. Moving to Panama with your household goods, on the other hand, is slightly more complicated and expensive, so we typically recommend that you buy furniture and other household goods here. Besides, it is doubtful your furniture will be suitable to your new tropical environment. Start fresh…it couldn't be more fun.