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The Benefits of Retiring in Panama

Jun 24, 2008
When you think of retirement in America, what comes to mind is usually paradise and unending relaxation, with time under your control. Of course, the cost of retirement also comes to mind, like how much of the retirement pay will go where? The best thing to consider for retirement to be less stressful and more relaxing is to find a place where retirement is beneficial. In most international and tourism magazines, Panama is always quoted as one of the best places to retire in the world.

There are plenty benefits to retiring in Panama. The Panama real estate market has greatly attracted retirees due to Panama's temperate climate, incredible lush landscape, a myriad of beaches and a welcoming culture.

One of the main benefits of retiring in Panama is Panama's pensionado program. Under Panama's Tourist Pensionado Visa, you need to be a resident pensioner to get the benefits of retirees in Panama then you become eligible for the program. To get this eligibility, you simply have to have a guaranteed pension worth 500 dollars every month for singles or 600 dollars for couples. The pension should either come from government agencies such as the Social Security System, Military, Federal, and disability, or from private company that defined the pension benefits. Under the pensionado program, the pensioner is entitled to discounts on public and private amenities that range from accommodation, health care, entertainment, transportation, property acquisition or loan, and technical or professional services.

The benefits of retiring in Panama are that it carries two major languages in the world, Spanish and English. You can easily relate to the locals in these languages and they are hospitable to foreigners. Also, they use the dollar currency for bills and the Balboa coins can easily be converted.

Another inclusion on the benefits of retiring in Panama is the low cost of living. Panama has the lowest cost of living among other countries in Central America. Because prices for goods and services are generally low and cheap, you get more savings especially if you earn foreign income. Aside from the goods and services included in the benefits of retiring in Panama, you also get affordable properties with their favorable tax incentives such that if you are a foreigner who decides to reside in Panama, you can get property that's free of taxes, and real estate in Panama such as this is not difficult to find.

Aside from pensioner's benefits of retiring in Panama and low cost of living, Panama offers wonderful places to stay. You can choose to stay on beaches, mountains and the modernized city. Panama has stunning beaches where properties are also developed. Retirees can do surfing, sailing, fishing or simply feeling on the sea breeze when you live in places near the beach. There are also properties that are located near mountains where it offers beautiful landscapes and interesting ecosystems like birds. Panama also offers activities with their mountains like camping and mountain climbing. If you choose the city life, you will see skylines, modern constructions, and high technology in telephone, cable and Internet facilities that are also available in all of Panama. With these various locations plus affordable properties and good tax incentives, you will get the needed relaxation you would require if you were to choose to retire in Panama.
About the Author
Laurie Cooper, of Cpanama Real Estate Corp., is an expert on Panama real estate. For more information, please visit www.cpanama.com.
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