The Republic of Panama over the years has gained and maintained the reputation for being among the top five countries to retire to, in fact Panama is “the” place to retire to. Panama is also a top tourist destination promoting eco-tourism Panama attracts thousands of visitors each year but not many are keen to say farewell to the beautiful Central American country. The low cost of living, affordable real estate great entertainment, superb dining, good weather conditions and scores of attractions are all factors which contribute to make Panama a retirement haven.
Offshore company registration and offshore company formation services in the best tax Havens including Panama tax haven. Panama offshore companies formation process is offered by associated in many tax havens, and Panama offshore company incorporation of the Limited Liability company is low cost. In addition to offshore corporations, we offer comparison of Limited Company vs Sole Trader and can propose UK companies such as the UK Limited Liability Partnership, the UK Ltd Liability Company (a private limited company) that have similar benefits to the offshore companies in tax havens. Company formation or company registrations in UK is handled by professional UK company formation agents.
Panama has a very worthy pension program for people who aspire to retire in alluring Panama. To qualify a potential pensioner has to present documented evidence that he/she will be receiving a pension income of for the least US$1000 monthly from a government institution or private corporation. This income has to be for life. If the individual qualifies he/she will receive a pensioner’s visa which makes then eligible for a list of discounts and tax exemptions including tax exemptions on the importation of household and personal items worth up to US$10,000. Discounts are available on medical bills, prescriptions, hotel accommodations, professional and technical services, transportation among other services. Pensioners can have their monthly income reduced to US750 by making a real estate investment of US$100,000 or more in Panama.
The affordable rate of Panama real estate is one of the reasons that people flock to retire in the Republic of Panama as real estate in Panama is available at very low prices. There is property available in and around the capital city of Panama City, in Boquete in Chiriquí province, beachfront property in Bocas de Toro. Panama real estate costs a fraction of the price which is paid for real estate in other countries. Properties available in Panama include apartments, condos, ranches, farms, land, family homes, and properties such as apartments and homes are also available for rent. Pensioners who construct or purchase homes by December of 2011 receive a 20 year tax exemption on Property Tax.
The cost of food, services, fresh produce and utilities are very affordable in Panama. Fresh produce at the local markets (fruits, vegetables, poultry and meat) are very cheap and always available. Services such as healthcare lives up to the standards of the United States and other developed countries with the added advantage of a cheaper price. The low cost of living plus the discounts given to persons in the pensioner’s program makes retirement in Panama very economical and most feasible.
There are areas in the Republic of Panama which interestingly appeals to retirees more than others. These areas are Boquete, Panama City, Bocas de Toro and el Valle. Boquete is a quiet town and people love it because it has lots of attractions including hiking, bird watching, and river rafting, among others. Bocas de Toro is on the Caribbean side of the country with its white sand beaches and is truly paradise. Panama City has lots of entertainment, great restaurants, museums and attractive sites.
Panama is a major tourist destination with lots of attractions. Pensioners will always have something to do. There are beaches and mountains to explore, historical sites, coffee estates, rivers and rain forests to visit. Panama has entertainment for everyone; trendy nightclubs, modern restaurants and museums, casinos, coffee shops, hip bars among others.
Another reason reasons retirees might find Panama an attractive country to live in is the fact that Panama is an offshore jurisdiction/tax haven. Any income gained outside of Panama is not taxed. Panama retirement surely has its benefits. The country has a low crime rate making Panama safe to live in. There is political, economical and social stability.
Retirement living in Panama is comfortable, secure, and affordable and designed for retirees. The government retirement program is the one of the most supportive programs encourage and sustaining retirement in Panama. Retirement communities and properties designed for retirees are on the rise in Panama, as it is expected that thousands of people from all over the world, will chose panama as their retirement destination.