Panama is truly one of the best places to retire, live, and invest. Here are 14 reasons why:
- Affordable Cost of Living: While Panama City is the most expensive area in Panama, outside the city is very cheap. Las Tablas located in the Azuero Peninsula offers nice beaches on a budget less than $1,200 USD a month.
- Year Round Warmth: While Panama City can be humid and hot for some people, outside the capital are different climates. Boquete offers cooler mountain temperatures where many expats have found a home. Santa Fe is cheaper than Boquete with same ideal mountain climates.
- Vibrant Expat Community: Panama has thousands of U.S., Canadian, and European retirees. Panama’s liberal immigration visas make it easy for most retirees to obtain permanent residency. There are pockets of expat communities scattered over parts of Panama.
- Spanish Not Required: Many expats living in Panama City never learn to speak Spanish and get along just fine.
- Excellent Healthcare: The medical tourism industry in Panama is thriving because of the quality medical and dental care and facilities at low costs. Hospital Punta Pacifica in Panama City is the only Latin American hospital affiliated with the internationally acclaimed Johns Hopkins Medical International based in Baltimore, Maryland.
- Low Medical Costs: While doctors and hospitalization costs more in Panama City than the rest of the country; they are about 1/3 of what the same care costs in the U.S. and in Europe. Visiting a medical specialist in Panama City costs $50 or less.
- Health Insurance Costs Less: There are local and international health care insurance and major hospitalization insurance policies available in Panama which can cost $100 USD per month or less based on your age and health condition.
- Good Infrastructure: For Latin America standards the phones, TV channels, internet connections, electricity, and water connections all work. The highways and roads have been going through large expansions and improvements over the past four years. Panama is famous for its banking facilities and services with ATM’s all over Panama City and accessible throughout the country.
- U.S. Dollar is the Currency: Panama has always used the U.S. Dollar as its currency. It was the first country the U.S. government allowed to do so over 110 years ago. U.S. retirees and expats will have no currency exchange issues in Panama.
- Panama City’s Airport is a Travel Hub: Daily flights to major cities in the U.S. are available and most are within a 4 hour flight including only 2 ½ hours to Miami. The entire Latin American region is available with daily flights including an increasing amount of direct flights to different European cities.
- Panama Retirement Visa: Panama has the most liberal immigration visa program for pensioners and retirees in the entire Western Hemisphere and maybe in the world. Panama only requires a lifetime monthly pension or annuity of a minimum of $1,000 USD per married couple from a variety of sources and no age restrictions. On top of that, various discounts of up to 50% are available at hotels, restaurants, movie theatres, entertainment (concerts, sporting events, and plays), pharmacies, local airlines, medical consultations, and utility bills.
- Natural Paradise: Panama boasts some of the best bird watching, sports fishing, surfing, hiking, and adventurous traveling in the world.
- Panama is Relatively Safe: Panama also boasts the lowest crime rates in all of Central America and amongst the lowest in all of Latin America.
- Retirees in Panama are Happy: According to the New York Times, AARP, and USA Today, Panama is one of the world’s top destinations for retirees.
As you can see, Panama is the Best Location to retire, live and invest. Contact Us for all of your Panama Retirement Needs.
