Live in Panama?
than 15,000 Americans currently live in Panama. This
figure is not surprising since the Panama Canal Zone
was under U.S. control until the year 2000. During this
time the country had strong American presence and became
reason for living in Panama is country's warm climate.
If you're tired of cold weather you'll be happy to know
Panama is hot and sometimes humid in the lowlands with
cooler year-round spring-like temperatures may be found
in mountain areas like Boquete. In 2001 Modern Maturiy
Magazine considered Boquete the fourth most desirable place
in the world for retirement living partially because of
its great climate.
City is one of the world's least expensive first-world
cities. It is also among the most modern and prosperous
cities in Latin America with over one million people. The
city's array of tall skyscrapers are reminiscent of Miami.
It boasts incredible shopping where almost any product
from the U.S. may be easily found.
country fits the bill for anyone sick of the hustle
and bustle, seeking a more laid-back way of life.
will also appeal to people of all ages seeking to move
to a new and exotic land, the energetic entrepreneur, the
burned-out baby boomer, those sick of long rush-hour commutes
and anyone seeking an alternative way of life.
Isn't It Expensive?
is a place where you can maintain your current lifestyle
for less money. Resident retirees benefit form the
most attractive retirement program available in Latin America
today. Residents pay NO local
taxes on their foreign
can bring in a new car and furniture every couple of years.
On top of that they received substantial discounts ranging
from 10% to 50% on a wide variety of local products and
you really spend depends on your lifestyle. If you must
have a luxurious home, drive a late model car and buy imported
goods, you could spend as much or more than you would in
the States. But if you live more like the locals,
take advantage of all of the perks and watch your
money, you will spend considerably less.
Americans living below the poverty line in the United States
can live in moderate luxury on a modest retirement or investment
income in Panama.
won't have to worry about an unfavorable exchange rate
since the U.S. dollar is the official currency. The
cost of food, utilities and entertainment are all substantially
lower than in the United States.
affordable medical care is among the best anywhere. The
quality of health care is comparable to North America but
the prices are one half or less! A local Panamanian Insurance
Company can provide full medical insurance for under $50
per month per person. Even if you have to pay out of your
own pocket, medical costs are still affordable.
an over all life-expectancy rate of 75.68 which is almost
as high as -72.94 for men and 78.53 for women)-the United
States (76 for men, 79.8 for women).
Panama hired help is a bargain when compared to prices
up north. A full-time maid can be hired for under $200
Panama any legal resident may buy
real estate and own
don't have to pay property taxes until they sell their
homes. On new homes there is a 20-year exoneration
from taxes. Property prices are very reasonable when compared
to what you'll pay in the U.S., Canada or Europe. A decent
apartment can be rented for as little as $200 per month. A
luxury apartment in the best area
of Panama City can range
from $500 to $800 monthly. A new home may be purchased
for under $50,000. Actually, an investment in Panama today
is much better than an investment in California real estate
was 30 years ago.
gets people excited about Panama, however, is that it offers
some of the best real estate on the planet at affordable
prices. The price will eventually go up as the rest of
the world catches on. There's only so much beautiful
beachfront and prime real estate left in the world. When
you think that almost every bit of the coastline in the
U.S. is becoming overcrowded and overpriced, Panama seems
like a bargain.
excellent transportation and communication networks, every
imaginable activity to stay busy and happy, a government
which goes to great lengths to make retirement and living
as easy as possible, contribute to Panama's appeal and
make it one of the world's top retirement and expat havens.
Place to Invest
currency is the U.S. dollar which makes investing in the
country easy. The country offers some of the very best
banking and communication services in Latin America.
has a wealth of business opportunities awaiting creative
hard-working entrepreneurs. You can run a global business
by using Internet access, fax machines and cell phones.
may be started for far less than in the United States.
Wages are very low when compared to U.S. standards. Furthermore,
tax incentives and a government which encourages investment
contribute to a propitious business climate. As more
and more foreigners move to Panama and tourism grows
there will be an increasing need for travel related business
and American products.
the new millennium upon us, a shrinking world due
to better communication, a burgeoning global economy-possibilities
are unlimited for doing business in Central and South America. Trade
pacts between Central America, U.S., Mexico and South
America will be a reality by 2005. They promise to link
all of the nations in the hemisphere in to one trading
block. Panama is sure to be an excellent base of
of Panama's 130 banks offer a high degree of secrecy.
Panama is a time-proven business and tax haven. Passive
investors will find CD's in Panamanian banks. There
is NO tax on interest earned from bank accounts for locals
or foreigners. Furthermore, there are NO corporate
of personal taxes on offshore activity.
is getting out about Panama as an investment and banking
haven. And that's why now is such a good time to invest. The Adventure
of Starting Over
move to Panama to start over and seek adventure in an exotic
land. They are tired of dead-end jobs or the rat race and
want new challenges, a chance to pursue their dreams and
achieve greater personal growth. As an expat, you
have the challenge of immersing yourself in a new culture
and, if you choose, the rewards of learning a foreign language.
will make friends easily because foreigners gravitate towards
one another. One Florida transplant told us he had
lived in Florida for 20 years and hardly ever had contact
with his neighbors. He claims not to be the most
sociable person in the world, nevertheless he has made
over a hundred friends while residing in Central America.
He proudly says, "Everywhere I go I bump into people I
and Keeping Busy
to a new way of life can take many months. However, an
open mind, a positive attitude and a willingness to seek
out new experiences can make the transition relatively
America, especially Panama and Costa Rica, has come
a long way in the last decade. Satellite and Direct
TV, private mail service and the Internet make it easier
to stay in touch with family and friends in the United
States and keep up with what is going on all over the world.
If you don't own a computer, you can go to an Internet
modern technology has made life easy for foreign residents. In
most areas of the country you can get cash at a local ATM,
manage your investments online and read almost any major
newspaper in the world the day it comes out.
will never be bored here unless you choose to be. Panama
has something for everyone. This little know country
offers a real paradise for the nature lover with its uncrowned
beaches and mountains, the fishing enthusiast and
water sports fanatic as well as the retiree. You can find
hundreds of interesting activities: movies in English,
support groups, computer and bridge clubs. You name it,
and Panama has it.