BiggerPockets

Retiring In Panama

There are a number of factors, make retiring in Panama worth investigating. Panama has so much more to offer than merely being a strategically placed country with a canal. The authorities in Panama have embraced foreign investment from a tourism as well as real estate position, and have develop incentives for retirees considering making Panama their destination for retirement.

Panama is steeped in rich historical culture and blessed with phenomenal natural beauty, so often overlooked as a tourist and or retirement destination. Major infrastructure has been undertaken in various locales around Panama providing a well setup and established network of potential investment and living areas.

Boquete in the highlands of the Chiriqui province, west of Panama City, is a case in point in terms of this infrastructural development and capital investment. It has gained popularity over the years and with the attraction of a mountain like climate makes for an ideal retirement destination. The area has received abundant media attention in the form of awards, recommendations and several top 10 listings for best â"places to retire'. One of the major attractions of the region is the abundant natural beauty, which comprise of highland rain or cloud forests, endless tropical beaches, as well as being outside of the hurricane and tropical storm belt.

Modern day living in Panama has the benefit of a reduced cost of living for retirees, as well as suitable structure for remaining in contact with the family. Nowadays with the internet and available technology, people remain in constant contact.

Property prices and tax relief programs and incentives really encourage one to consider Panama, the centrality of the country, as well as the favorable climate and landscape truly contribute to the overall positive nature of the region. Panama regular receives votes of confidence from international investors, as well as rating agencies, which they have described as stable and high performing.

The interest in Panama, as a retirement venue, is not limited to that of the United States, but has become increasing popular for residents of Canada as well as that of numerous European countries. Major benefits for retirees from a Panamanian perspective include:

Residents pay no tax on foreign earned income;
Legal tender in the country is the United States Dollar, and has been since 1904;
Property tax exemptions may apply in certain areas, calculated according to value;
Considerable benefits in the Pensioners program;
Increased encouragement of foreign investors as property owners, legally protected under common law, as applicable to Panama citizens;
Reliable communications infrastructure;
Continued road and amenity infrastructure development and investment;
English is commonly and widely spoken.
Above and beyond all the listed benefits and beauty of this unique country, the way of life in Panama, outside of the major cities is that of a relaxed pace and demeanor, allowing one to experience the nature and beauty in tranquil surroundings. The cost of living ensures that one's retirement capital is not completely eroded by daily living. Ongoing development in respect to the Panama canal expansion project ensures a positive future outlook for the country.

There are more factors and legislation in your favor as an investor to make informed decisions and investments in this country than most other well known retirement destinations. It is well worth investigating and considering an investment in your retirement in this beautiful country.

Comments