Panama has long been an undiscovered gem in Central America until recently when Panama was recognized by several sources as a top place to live and retire. Modern Maturity Magazine rated Panama the #1 place to retire in the Americas, and for good reason; where else do you have access to pristine Caribbean and Pacific Ocean beaches, lavish rainforests and striking mountain landscapes? Panama also boasts an ultramodern capital city with a skyline so spectacular it looks like a scene from a futuristic movie. Here you can find world class restaurants and endless entertainment options. Panama is a melting pot of different cultures with a remarkable and rich history. Most people don't think of Panama first for a vacation destination, let alone a place to retire, but there are some huge benefits for foreigners who choose to retire here with Panama's "Turista Pensionado" program. Here are 5 reasons you may want to look further into spending your golden years here.
2. Generous discounts on daily living expenses - You will get a 25% discount off of your monthly utilities such as energy, phone, and water bills. You will also receive a 25% discount on domestic and international airline tickets and restaurants (15% at fast food restaurants). Panama's cost of living is approximately 1/5 of the U.S, which makes Panama an appealing option with the current economy crisis.
3. Cheap Entertainment - You get a 50% discount off of most entertainment including movies, sports events, theatre and concerts. Most of these entertainment options are already low-priced to begin with, so your savings will be substantial.
4. Affordable Health Care - 10% to 20% discounts on medical needs such as prescriptions, dental and eye exams, and doctor visits. Panama has medical facilities comparable to the United States and a large amount of the physicians speak fluent English as many were trained in U.S. Many of the prescription medications you get in the U.S. are sold over the counter in Panama.
5. Something for everyone - Whether you love unspoiled beaches, the solitude of the mountains, lush rainforests filled with exotic wild life, or the big city; Panama has a place for every imaginable type of lifestyle. It is easily accessible from the U.S. It is only a 2/12 hour flight from Miami, and less than 6 hours away from almost any other location in the United States. The dollar is the accepted form of currency here which makes life easier. The crime rate is low and the water is safe to drink. English is the second language and is widely spoken. The advantages to retiring here are endless!
- 1. Huge benefits in purchasing a home - If you buy a home over $200,000 you have the right to a residency Visa. If you make Panama your exclusive residence you will receive a 100% property tax exemption (up to 20 years) and you will be given 50% off of the closing costs of your new home. Real estate in Panama is generally cheap. You can buy beach front property here for a fraction of the cost of what you would pay in the U.S.
2. Generous discounts on daily living expenses - You will get a 25% discount off of your monthly utilities such as energy, phone, and water bills. You will also receive a 25% discount on domestic and international airline tickets and restaurants (15% at fast food restaurants). Panama's cost of living is approximately 1/5 of the U.S, which makes Panama an appealing option with the current economy crisis.
3. Cheap Entertainment - You get a 50% discount off of most entertainment including movies, sports events, theatre and concerts. Most of these entertainment options are already low-priced to begin with, so your savings will be substantial.
4. Affordable Health Care - 10% to 20% discounts on medical needs such as prescriptions, dental and eye exams, and doctor visits. Panama has medical facilities comparable to the United States and a large amount of the physicians speak fluent English as many were trained in U.S. Many of the prescription medications you get in the U.S. are sold over the counter in Panama.
5. Something for everyone - Whether you love unspoiled beaches, the solitude of the mountains, lush rainforests filled with exotic wild life, or the big city; Panama has a place for every imaginable type of lifestyle. It is easily accessible from the U.S. It is only a 2/12 hour flight from Miami, and less than 6 hours away from almost any other location in the United States. The dollar is the accepted form of currency here which makes life easier. The crime rate is low and the water is safe to drink. English is the second language and is widely spoken. The advantages to retiring here are endless!
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