Panama has become the home for many expatriates over the last five years, an da number one choice of place for retirement living. Panama is ranked amongst the top five (5) countries in the world to retire to and with good reason. The Republic of Panama has a combinations of all the right factors; reasonable priced real estate, low cost of living, perfect year round weather conditions, an incredible pensioner’s program, low crime rate and a exceptionally beautiful country. The republic of Panama is situated in Central America and has an estimated population of 3,243,000 people. A very big portion of the population lives in the capital Panama City. The official language is Spanish but English is widely spoken.
Life in Panama can be considered a dream when compared to other countries. Panama has one of the best economies in Central America and the populace can afford to live comfortably. The price of food (vegetables, fruits, staples, meat and poultry) is very cheap as the country locally produces a substantial amount of what it consumes. Panama is well known for its fishing industry which provided the population with fresh sea food year round. There are many supermarkets in Panama which are well stocked with both local and imported foods which are affordable priced. Shopping at the local market is cheaper and helps make living in Panama easier.
Services such as medical care, lawyers, accountants, translators etc. are readily available in Panama for a fraction of what it would cost in other countries. Panama’s population is well educated and many are highly trained professionals. The people are friendly and always willing to lend a helping hand. Panama’s health system is very up to date and can be compared to that of more developed countries. Health care standards in Panama are excellent but do not cost much.
The Republic of Panama is an offshore jurisdiction and foreigners living in Panama will be happy to know that all incomes derived outside of Panama are not taxed locally. In fact foreigners living in Panama can incorporate a company in Panama, maintain operations outside of the country and will pay no local taxes on any gains of such company. Life in Panama is lucrative for retirees. In additions to tax free foreign income persons who are part of the pensioners program receive a long list of discounts and tax exemptions.
Some of the most beautiful properties (homes, condos, and undeveloped lands) can be bought in the Republic of Panama for inexpensive rates. Properties are available in Boquete, Panama City, Bocas del Toro and other attractive areas in the country. It is basically trouble-free for foreigners to obtain land in this country where they receive the rights as citizens to make real estate purchases.
Panama has many attributes which makes it the choice of many foreigners. Home to the famous Panama Canal the Republic of Panama has many fascinations; lush rain forests, rivers, mountains, almost 1000 bird species and UNESCO World Heritage Sites, Panama has adventures such as hiking, river rafting, kayaking, scuba diving and its international fishing tournaments. For some persons living in Panama is paradise without having to pay obscene amounts of money for peace of mind and safety. A life in Panama is one that is being most sought after. The development and establishment of retirement communities in Panama is fast accelerating and retirement investing is sound options for those looking at a life in Panama.