There are a lot of reasons to consider relocating to Panama. Here are the top ten aspects many people find most compelling.
- Highly ranked quality of life in all regions
- Low cost of living and low crime rate
- Safe, Westernized, U.S. dollar-based economy
- Highest rate of local English speakers in Central America (15% of population)
- Equal rights and protections for property owners, regardless of nationality
- U.S. healthcare facilities with U.S.-trained, English-speaking doctors
- Latin American heritage with an international perspective
- Abundant outdoor adventures, including golf, hiking, horseback riding, rock-climbing, water sports and world-class surfing
- Mild year-round climate, free from hurricanes and tropical storms
- Over 180 daily flights to 68 destinations in 28 countries via COPA Airlines’ Hub of the Americas, Tocumen International Airport (PTY)
7 Reasons to retire in Panamá
- Newcomers who buy or build a new house won’t owe any property taxes for 20 years.
- Residents do not pay taxes on foreign/earned income.
- Personal income tax is based on a sliding scale form a minimum of 4% to a maximum of 30%.
- A Value Added Tax of 5% to 10% is charged on most products and services.
- Transfer taxes on real estate are paid by the seller, and there is no inheritance tax or gift tax.
- Tourism related investments have 20-year exemptions from import duties, fees for construction material and equipments, and from income, real estate and other taxes.
- Panamá “Pensionado” program – for anyone over the age of 18. Once you become a resident “pensioner” of Panamá under Tourist Pensionado Visa, you are eligible for the most appealing program of benefits for retirees available anywhere in the world right now.
As a qualified pensioner in Panamá, you would be entitled to:
- 50% off entertainment anywhere in the country (movies, theaters, concerts, sporting events, etc.)
- 20-30% off bus, boat, and train fares.
- 25% off airline tickets.
- 50% off hotel stays Monday through Thursday, 30% off Friday through Sunday.
- 25% off restaurants meals.
- 15% off at fast-food restaurants.
- 15% off hospital bills (if no insurance applies).
- 10% off prescription medicines.
- 20% off doctor’s consultations.
- 15% off dental and eye exam.
- 20% off professional and technical services.
- 50% off closing costs for home loans and more.
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