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Why Retire in Panama

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Why retire in Panama? That is a question only asked by those who don’t know everything that Panama has to offer. Amazing beaches and wildlife abound, but that’s only part of the story. Here’s a “Dave Letterman” type list of reasons why Panama is the perfect country for your retirement plans.

10 – Panama is a thriving democracy with actual freedoms
2004 presidential election was contested by half a dozen different political parties, and it didn’t have the verbal brutality of the elections in the USA, which were held at the same time. Freedoms of press, speech, and religion are honored, and free enterprise is central in Panama's economic life. Freedoms such as these are taken for granted in the USA, but provide a great reason why to relocate and retire in Panama.

9 – Panama has no military
Panama has a national police force, and no more. The independence of Panama is guaranteed by the United States. After the bloody regime of General Noriega, Panamanians have the good sense to know they don’t want a military. The security of the US military without the international backlash is another great reason why to retire in Panama.

8 – Panama has the Panama Canal...and more.
The Panama Canal provides 10% of Panama's GDP (Gross Domestic Product – the total economy). The canal provides Panama with a non-tourist based income and it also provides thousands of well-paid jobs for Panamanians. A multi-year, $8 billion expansion of the Panama Canal is being considered and will add thousands of great paying jobs. International banking, manufacturing, and shipping combine to provide more jobs and tax revenue than the canal. Panama also has the second-largest free trade zone in the world (after Hong Kong) and this has an impact on the economy. The stability Panama's economy provides great security for Panamanians and is far more modern and service-oriented than you might expect. This means stability not only for Panamanians and it a great reason why to retire in Panama.

7 – Panama has a thriving middle class
With the previously mentioned jobs that are available, Panama has a growing middle class. As seen in so many other countries, a vibrant middle class is the foundation for both the economy and the democracy of the country. Stability provides another basis for why to retire in Panama.

6 – Panamanians accept Americans and Europeans
In spite of the worldwide press and their Venezuelan neighbors South America, Panamanians are accepting of people of other countries. As a country with a growing tourism trade, they actually welcome “extranjeros”. (Or foreigners) Finally, with 14% of the people fully literate in English, the transition is easier than you might think. Spanish education is advised, however, and its instruction is readily available and inexpensive. Retiring in Panama is a much easier transition than most countries.

5 – Panama’s currency is the US dollar
Not important you say? Anyone who has traveled to Europe or other foreign countries will quickly disagree. Exchanging money and mentally converting currency for reference sake can make anyone crazy. Panama has unique coinage, called the Balboa, but the Constitution forbids the printing of additional paper money. This helps to stabilize the economy. Not having to figure the conversion for Costa Rican Colonnes is reason enough to retire in Panama!

4 – Panama’s climate and habitat are incredible
Oh the beaches! Without selecting an island, it is nearly impossible to find another country where you are no more that an hour from the ocean. (Or in Panama, two oceans; the country is bounded by both the Atlantic and Pacific Oceans) The volcanic mountains provide both rich soil for an abundance of tropical vegetation and more moderate climates at higher altitudes. Such a variety of climate and habitat have already been drawing people to retire in Panama for years.

3 – Panama’s cost of living in Panama lower than both the US and Europe
This is a matter of lifestyle and choice, but for the vast majority of people, Panama is an incredible value in cost of living. Housing, produce, and local cuisine in most areas are an exceptional value. This has always been, and still is, a prime reason to retire in Panama.

2 –Panama’s people are friendly
The comfort level with foreigners and the relative prosperity of Panama put its people in a position to be friendly and comfortable with foreign residents and tourists alike. Panama does not have an abundance of desperate poverty like so many other nations; therefore, the people tend to be more relaxed and pleasant. Such an environment makes this an excellent place to retire.

And the top reason to retire to Panama is…

1 - If you are retiring, Panama wants you
If you receive your pensionado, or retirement visa, Panama offers a stunning array of benefits. This is not United States, AARP type of benefits! Such discounts include 50% for movies and sporting events, 25% for Copa airline flights, 50% for weekday rates at hotels, and 15% to 25% and medical expenses and utilities. As an added feature, you pay no taxes on income earned outside of Panama, which is a great feature for those wishing to retire in Panama.

With such a list, it’s easy to see why Panama is a great retirement destination. Great climate, low cost of living and pleasant people make this a virtual tropical paradise. It’s time to finalize those retirement plans and come to Panama!

Please contact us for more information or click the link below for our special discounted legal fees for obtaining a Panama retirement visa / pensionado.







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