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Panama Retirement
Benefits
Panama has what could
be THE best retiree incentive program in the world.
Qualified retirees may be entitled to receive:
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Tax exemption to import a car for private use every 2 years
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Tax exemption to import household goods up to $10,000
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Discount in hotels, motels and pensions
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Discount on prescribed medicines from pharmacies
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Discount on private hospital or clinic bills if the retired
patient is not insured
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Discount on medical services
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Discount on movie theaters, recreation, cultural and sports events
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Discount on utility bills (electric, water, residential phone,
cable)
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Discount on lawyers, architects, nurses, physical therapists, etc.
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Discount on the expenses or closing commissions on loans
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Personal and commercial loans will be exempt from taxes stipulated
by the Special Interest Compensation Fund
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Discount on the maximum interest rate on personal and commercial
loans
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Discount of percentage points on interest rates for mortgages on
housing
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No tax on home furnishings if it is the retired person's property
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Exemption from property tax if it is the retired person's sole
residence
Panama
Cost of living:
The average monthly cost of living, domestic and
professional services, food and many other products and services
are considerable lower than in many countries including United
States. A live-in maid can be hired for less than $300.00 a month.
Medical assistance can be received as low as $20. Apartments in
Panama City can be found starting at $450 a month. Very nice
apartments with amazing view, can be found for less than $1,000 a
month.
Panama
Culture and recreation:
Panama has a wide variety of places to visit and enjoy. From the
Spanish history to the Indian traditions, from the Pacific Ocean
to the Caribbean Sea, from the mountains to the beaches and from
mainland to the islands you will enjoy the country in all its
extension.
Panama
Economy:
Panama's economy is based primarily on a well-developed services
sector. Services include the Panama Canal, a very strong banking
system with more than 100 international banks, the Colon Free
Trade Zone, insurance companies, container ports, flagship
registry and tourism. Panama uses the US Dollar as its currency.
Panama
Environment:
Small country, big sights. The perfect combination for the retiree
who is seeking all the commodities of a major city just few hours
away from amazing nature, highlands, mountains, beaches and
islands.
Panama
Freedom:
Panama is a Constitutional Republic with democratic elections
every 5 years.
Panama
Healthcare:
Modern and reliable private medical services are available.
According to current legislation covering sanitary matters, Panama
offers health care facilities to all nationals and foreign
travelers who may require them, independent of any reciprocal
agreement with a particular country. International travelers are,
however, advised to take out medical insurance.
Panama
Infrastructure:
Airports, highways, railroads, ports and the Panama Canal. All
well developed.
Panama
Safety & Risk:
Considerable safer than many countries of the region. Best place
to retire
Natural disasters, earthquakes, floods, hurricanes, etc are not
common in Panama. Panama City is safer than most capital cities,
but as in any major city in the world there are some regions that
are less fit for foreigners. Except for the remote province of Darien,
which has some border problems with Colombia, the rest of the provinces in the country
are extremely safe.
Panama
Climate:
The climate is spring like year round with temperatures typically
hot in the lowlands (between 21°C and 32°C/70°F and 90°F) and cool
in the mountains (between 10-18°C/50-64°F).
Find out more about
our
real
estate and retirement tours. See some of the
real estate projects in
Panama that are popular with our visitors.
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Panama Information Index
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