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R
eal estate prices in this land of paradise are a mere fraction of the
cost for comparable homes in the U.S. and Europe. On top of that, the
Panamanian government offers its own retirement package that is second
to none in the world. Retirees pay no taxes on foreign income, and
qualified purchasers are currently exempt from property taxes for 20
years. Substantial discounts on utilities, transportation, loans,
world-class medical care, entertainment, hotels and professional and
technical services are all part of the allure of Panama.
To recieve a retirement
visa to live in Panama,
you must:
- Be 55 years or older
for women, 60 or older
for men.
- Have a clean police report from where you currently reside.
- Obtain a health certificate from a Panamanian doctor.
-
Show proof of a minimum income of $500 a month and $100 each for any dependents.
With strong incentives, a stable government and ideal weather, it’s no surprise AARP’s Modern Maturity ranks Panama among the top four "best places to live abroad" in the world. International Living
magazine ranks Panama #1 for retirement living. And it rates Panama and
Panama City as the best place in the world for living outside the
United States.
Modern benefits of living in Panama include:
- Panama City is a 21st century city featuring high-speed internet, first-rate hotels, fine dining, shopping
and cultural attractions including museums, operas, ballet and
historical sites.
- Panama has a reliable communications and highway infrastructure.
- The cost of living is a fraction of the United States.
- Panama's currency is the US dollar; the official language is Spanish, but most everyone speaks English .
- Panama boasts medical facilities on par with the United States. Johns Hopkins Medical Center will open in Panama City in 2006.
- Major airlines offer direct flights to Panama from 7 US cities.
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