The benefits of retiring in Panama are great—few will argue that fact. What many people don’t know, is that it is also beneficial to your pocketbook. When you think of retirement in America, what comes to mind is usually paradise and unending relaxation, with time in your control.
The Panama real estate market has attracted retirees because of Panama’s temperate climate, incredible lush landscape, a myriad of beaches and a welcoming culture.
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More benefits of retiring in Panama are:
- Panama’s pensionado program.
Under Panama’s Tourist Pensionado Visa, you need to be a resident pensioner to get the benefits of retirees in Panama then you become eligible for the program. To get this eligibility, you simply have to have a guaranteed pension worth 500 dollars every month for singles or 600 dollars for couples.
The pension should either come from government agencies such as the Social Security System, Military, Federal, and disability, or from private company that defined the pension benefits. Under the pensionado program, the pensioner is entitled to discounts on public and private amenities that range from accommodation, health care, entertainment, transportation, property acquisition or loan, and technical or professional services.
- Panama carries two languages, Spanish and English. You can easily relate to the locals in these languages and they are hospitable to foreigners. Also, they use the dollar currency for bills and the Balboa coins can easily be converted.
- Another inclusion on the benefits of retiring in Panama is the low cost of living. Panama has the lowest cost of living among other countries in Central America. Because prices for goods and services are generally low and cheap, you get more savings especially if you earn foreign income.
- Affordable properties with favorable tax incentives. If you are a foreigner who decides to reside in Panama, you can get property that’s free of taxes, and real estate in Panama such as this is not difficult to find.
- Panama offers wonderful places to stay. You can choose to stay on beaches, mountains and the modernized city.
- Panama has stunning beaches where properties are also developed. Retirees can surf, sail, fish or simply enjoy the sea breeze in places near the beach. If you choose the city life, you will see skylines, modern constructions, and high technology in telephone, cable and internet facilities which are all also available throughout Panama. With these various locations plus affordable properties and good tax incentives, you will get the needed relaxation you would require if you were to choose to retire in Panama.
The best thing to consider for retirement to be less stressful and more relaxing is to find a place where retirement is beneficial. In most international and tourism magazines, Panama is always quoted as one of the best places to retire in the world, and we believe this is for good reason.