Why Consider Living, Buying, or Investing in Panama?

  Panama is one of the world’s top offshore haven and it is continuing to emerge as one of the world's greatest retirement destination. Panama offers certain advantages over every other Central and South American destination. Tax advantages. Privacy advantages. Plus. you’ll find some of the world’s most beautiful mountain, beachfront, and island Proprerty in Panama. Add to all of this what we consider the world’s best program for retirement.

The Los Angeles Times noted that many recent retirees “have been drawn to Panama by its low taxes, affordable housing, tropical climate, and contemporary, bilingual entertainment.”

Panamanian life is truly affordable. (A full-time, live-in maid costs $150 a month...first-run movies cost $3.75.) It’s the safest place in Central or South America (the Pinkerton Global Intelligence Agency recently gave Panama its highest rating for tourist safety). And it’s the most developed country south of the United States—home to some of the world’s top companies.

Panama has a stable government, a stable currency (pegged to the U.S. dollar since 1904), and virtually no inflation. In other words, this country is the exception to the rule in Central America. As The Economistreported, in Central America, “Panama has stood apart, sustained by its canal, banks, and free-trade zone.”

Panama is starting to get noticed by America’s mainstream press: “Panama is the most beautiful retreat in the world and almost undiscovered,” claimed Harper’s Bazaar.

“Known mostly for its canal, Panama is, in fact, an undiscovered tourist paradise,” stated a travel article in The Boston Globe.

Even The Wall Street Journalis talking about the “new breed of intrepid retirees [that are] branching out” to Panama.

Not only is Panama starting to receive more tourists, but it is also becoming one of the focal points of a trend that is taking shape in the United States. Living and retiring overseas—something that was once reserved for a few adventurers—is now an idea catching on in mainstream America.

As Timemagazine reported: “Many of the 76 million American boomers are more likely than their parents to consider retiring to a foreign land, because they have traveled more, have higher hopes for retirement, and tend to be more active and adventuresome.”

According to a recent survey conducted by the firm MarketFacts, 7% of those baby boomers will actually retire outside of America. That translates to 5.3 million Americans who have already made the definitive decision to retire abroad. And Panama is going to be at the top of their list, along with other foreigners looking for warm, inexpensive, and adventurous places to live and retire. In fact, it already is.

  Moving to Panama for the Perfect Retirement

·                                 Panama Is Famous for Its Light Tax Burdens on ResidentsPersonal income tax in Panama is based on a sliding scale, ranging from a minimum of 7% after the first $9,000, to a maximum rate of 27%. Regardless of your residency status, the tax is only applied to Panamanian-sourced income. Taxable income includes wages and salaries, other business profits, pensions/bonuses, and income from copyrights, royalties, trademarks, stock sales, bonds, and securities. Deductions may be made on all medical expenses incurred in Panama, all donations made to charities, interest paid on home mortgages, education expenses, and loans for home improvements.

The country is renowned for its light tax burden. If you qualify for Panama's pensionado program (a "retiree" may be as young as 18 years of age), you are entitled to a one-time exemption of duties on the importation of household goods (up to $10,000), and an exemption every two years of duties on the importation or local purchase of a car.

If you buy or build a new house, you won't pay property taxes for up to 20 years, nor will you pay taxes on foreign-earned income. In 1994, Panama passed Law No. 8--the most modern and comprehensive law for the promotion of tourism investment in Latin America and the Caribbean. Since the law was enacted, dozens of the world's largest hotel chains have swept in to take advantage, including Marriott, Radisson, Holiday Inn, Sheraton, and Intercontinental.

But Panama's attractive tourism investment laws are not just for big business. With a minimum investment of $50,000 anywhere in Panama's interior, you can benefit from:

·             A 20-year exemption of any import taxes due on materials, furniture, equipment, and vehicles

·             A 20-year exemption on real estate taxes for all assets of the enterprise

·             Exemption from any tax levied for the use of airports and piers

·             Accelerated depreciation for real estate assets of 10% per year.

The investment amount does not include the price of the land. And for projects in the metropolitan area, the minimum investment requirement is $300,000.

Income Tax Personal income tax in Panama is based on a sliding scale, ranging from a minimum of 7% after the first $9,000 to a maximum rate of 27%. For temporary residents, the tax is only applied to Panamanian-sourced income.

Transfer Tax Real estate transfer taxes in Panama are paid by the seller, and are 2% of either the updated registered value of the property or the sale price--whichever is higher. The updated value is the registered value, plus 5% per annum of ownership. If the property is bought by a corporation, it is customary for the shares of the company to be sold (instead of the property), thus eliminating the need to pay transfer tax.

Inheritance Tax Inheritance taxes in Panama have been completely abolished. Despite this, taxes on gifts (inter vivos) of properties located in Panama are in effect, and the rate depends on the degree of relationship between the donor and the donee. This does not apply to property owned anywhere outside Panama.

Rental Income Tax If you receive rental return on your property, you will be liable for income tax up to a maximum of 27% (on returns greater than $250,000). However, if you invest in one of the special "tourism zones," you may be exempt from income tax for 15 years.

Property Tax Properties with a registered value of $30,000 or lower do not pay property tax. For properties of a higher value, they pay as follows: 1.75% from $30,000 to $50,000; 1.95% from $50,000 to $75,000; and 2.1% over any property value above $75,000. If you buy or build a residential property in Panama, you may be exempt from property tax for up to 20 years if the construction permit is issued by Sept. 1, 2006, and the occupancy permit issued and improvements registered by Sept. 1, 2007. On houses or apartments where the construction permit is issued after Sept. 1, 2006, the following exemptions will apply:

·             Value up to $100,000: 15-year exemption

·             Value from $100,000 to $250,000: 10-year exemption

·             Value over $250,000: 5-year exemption.

The exemption is transferable during the exemption period to any new buyer. The land itself is not exempted, and would continue to incur property tax if its value is above $30,000.

Capital Gains Tax Capital gains should be included in the annual tax return, and are taxed at whatever level the individual is being assessed for income tax. Unless you have owned the property for a minimum of two years and are not in the business of selling and buying property, you may choose to pay a flat 10% of the gross profit.

Enjoy Panama's Developed Infrastructure The developed infrastructure of Panama is astounding to those who arrive anticipating Third-World conditions. Panama City boasts a tremendous skyline of high-rise buildings, including chrome and steel modern office complexes, massive hotels, and enormous apartment buildings. Panama City is an important hub for international banking and commerce, so if you are looking to invest or start a business while living in Panama, you will have plenty of resources at your disposal. Culturally, living in Panama means five-star restaurants, theater, symphonies, ballet, and boutiques.

Yes, the infrastructure in Panama is well developed: The telephone service is quite advanced, so international calls are always easy to make; high-speed Internet is widespread; and Panama City's international airport is completely modern, offering daily flights to many international destinations.

Panama's More Adventurous SideThose who want to live in Panama but are more interested in adventure than comfort will be equally satisfied. When you live in Panama, you have easy access to both beaches and mountains. The incredibly long coastline allows fishing, scuba diving, and surfing, while the mountains and tropical forests allow for hiking and bird-watching. You will never be bored living in Panama.

Visas and Residency in PanamaPanama's Pensionado ProgramPanama has put together the most appealing program of special benefits for foreign residents and retirees you'll find anywhere in the world today, starting with the pensionado, or pensioner visa, program.

In Panama, qualified pensionados or retirees are entitled to:

·             50% off entertainment anywhere in the country (movies, theaters, concerts, sporting events)

·             30% off bus, boat, and train fares

·             25% off airline tickets

·             50% off hotel stays from Monday through Thursday

·             30% off hotels stays from Friday through Sunday

·             25% off at restaurants

·             15% off at fast-food restaurants

·             15% off hospital bills (if no insurance applies)

·             10% off prescription medicines

·             20% off medical consultations

·             15% off dental and eye exams

·             20% off professional and technical services

·             50% closing costs for home loans, and more…

In addition, you are entitled to a one-time exemption of duties on the importation of household goods (up to $10,000) and an exemption every two years of duties for the importation or local purchase of a car.

Plus, Panama's pensionado law stipulates that anyone entering the country as a qualified pensioner today is guaranteed that status as long as he or she chooses to stay in the country. That means that even if the government decides to change the requisites for applying—say, by raising the age to 65 years—you maintain your pensionado status…even if you’re only 52.

The general rules:

·             All visa applications must be made through a Panamanian lawyer

·             Children under 18 will qualify for a visa as dependents of their parents

·             All overseas documents to be presented to the authorities in Panama must be authenticated by a notary and by the Panamanian consulate nearest you, or by a notary and Apostille. The Apostille (as per The Hague Convention of 1961) is a faster way of authenticating documents and in the U.S. can be obtained through the secretary of state in your home state; in the U.K., this can be done through the Foreign Office. In Canada, please check with the Panamanian embassy/consulate nearest you

·             All documents must be valid (within two months of visa application) and passports must be valid for at least another year from time of application

·             Dependents: Bring a marriage certificate. However, original marriage certificates are not acceptable for the visa application if over two months old, so you'll probably need to request a copy. If you have children under 18 that you’ll be including on your application as dependents, you'll need to bring valid birth certificate copies (not originals)

·             None of the visa programs mentioned here includes work permits

·             All visa applications require that you obtain a health certificate in Panama

·             All visas require a clean police record from your last place of residence

·             All visas require 6–9 passport-size photos (gentlemen in suit and tie; ladies in blouses or dresses with sleeves).

In the past, the government of Panama has allowed any adult who could show proof of a monthly pension of any kind (from the age of 18 upward) to qualify for a pensionado (retiree) visa. As in the past, if you are receiving a pension from a government entity or a well-known international company, age is not an issue. You must simply provide proof of adequate income ($500 per month per person or $600 per month per couple). However, if you are on a private pension, the pensionado visa is available to you if you are of retirement age (50 or older). The age of your spouse (if applying as dependent) will not be considered on the age limitation.

Person of Means Visa ( Solvencia Económica Propia)Designed for those who wish to live in Panama off their own means, without the need to work or start a business. Applicants must either: 1) open a two-year fixed-term deposit account with a local bank for at least $200,000, or 2) purchase real estate in the amount of $200,000, or 3) purchase real estate worth a minimum of $80,000 and open a two-year fixed-term deposit account for at least $120,000. The accounts and the real estate must be in your personal name, fully funded (or titled), and free of mortgages or encumbrances.

The visa is granted in two steps: First, a one-year provisional visa is granted, and then the process is repeated and the visa is approved permanently, with the right to a cedula (national identity card). Five years after obtaining the permanent visa, holders will be eligible to apply for Panamanian nationality.

Investor Visa ( Inversionista)Designed for those who wish to establish a business in Panama (excepting certain retail businesses and professions reserved to Panamanians). There must be a minimum investment of $150,000, and a minimum of three permanent Panamanian employees hired. The investor visa is granted provisionally for one year, after which renewal is granted permanently with the right to be issued a national identification, or cedula. Five years after obtaining the permanent visa, holders will be eligible to apply for Panamanian nationality. Learn more about making investments in Panama.

Forestry Investor Visa ( Inversionista Forestal)The forestry investor visa encourages the production and preservation of teak. Basically, the program consists of two options, dubbed the small forestry investor and the large forestry investor visas. The small forestry investor visa requires a minimum investment of $40,000, whereas the large forestry investor visa requires a minimum investment of $80,000. Small forestry investors can apply for permanent residency on their fifth year (prior to this, these investors may stay in Panama via one-year renewable immigrant visas). A large forestry investor, however, must apply for permanent residency immediately after his or her first immigrant visa card expires. Both small and large investors are eligible to apply for citizenship just five years after their initial application.

Important New Information About the Forestry Investor VisaYou can now use your IRA funds to invest in forestry projects in Panama and qualify for the forestry investor visas. (You can also use IRA funds to invest in other types of Panama real estate, but this will not qualify you for a resident visa, as when you buy with an IRA the property must be owned by a corporation or foundation owned by the IRA and not in your personal name.)

If you have a different type of investment in mind, note that Panama offers many different visa alternatives; those listed above represent just a few of the more popular options.

For more information about the forestry investor visa, contact Robert Kroesen of United Nature.

For information about using your IRA to invest in a forestry project or in Panama real estate, contact Rich Luchsinger of Sovereign International Asset Management.

Small Business Investor Visa ( Inversionista de Pequeña Empresa)This visa is designed for those who wish to establish a small business in Panama (note that retail businesses and some professions are reserved to Panamanians). There must be a minimum investment of $40,000 and a minimum of three permanent Panamanian employees hired. The visa is granted provisionally for one year, and needs to be renewed three more times before it is granted permanently with the right to a national identification card, or cedula. Five years after obtaining the permanent visa, holders will be eligible to obtain Panamanian nationality.

Learn the Keys to Successful Investing in PanamaThe Republic of Panama is perhaps the ideal destination for anyone looking for serious financial privacy and no taxes, corporate or personal. Its proximity to the growing Latin American market makes it a natural base for world business operations, and, in spite of its troubled history, it isn't directly under the thumb of either the United States or the United Kingdom.

Panama is a country in much better shape financially than its Central American neighbors to the north, or Colombia to the south. Annual inflation has averaged 1.4% for the past 30 years, and during the 1990s, it barely exceeded 1% per year. Then there is the wealth represented by the Panama Canal. Its operations in 2001, according to the Panama Canal Authority, generated $630.8 million in total revenues, much of which was plowed back into constant maintenance. But the move that could turn the current flow of 14,000 annual ship transits into a flood is the widening of the canal and the building of bigger locks.

There are also thousands of acres of land from former U.S. military installations—prized real estate with an estimated value of $4 billion. Admittedly, its distribution and privatization has been slow and marked by charges of corruption, producing few of the general benefits promised or anticipated.

How to Invest in Panama and Build a Tax-advantaged EnterprisePanama is on the rise…as a retirement destination…an adventure wonderland…and an investment paradise. It is simply bursting with opportunities for the adventurous entrepreneur. Things are just starting to get going here. Those with foresight stand to make impressive gains.
The government of Panama has set up a number of attractive programs and special zones in order to attract foreign investors to its shores. These programs won't last forever, though. But while they're here, they'll give the adventurous pioneers who decide to capitalize on them a tremendous head start in the business world.

In fact, almost every International Living reader we know who has come to retire in Panama has capitalized on the opportunities here, and has begun a business of some sort, from guest houses…to property developments…to resorts…to eco-tourism projects…to forestation projects…to charter dive operations...and even boat-repair outfits…

An Incredible Panamanian Investment: Spend Just $50,000 and Reap Enormous Tax BenefitsIn 1994, Panama passed Law No. 8—the most modern and comprehensive law for the promotion of tourism investment in Latin America and the Caribbean.

Since the law was enacted, dozens of the world's largest hotel chains have swept in to take advantage of it. But Panama's attractive tourism investment laws are not just for big business. Anyone willing to invest as little as $50,000 in a tourism project can take advantage of the enormous tax benefits and financial incentives available here.

You could build a guest house in the hills of Boquete; start a whitewater rafting outfit in Chiriqui Viejo; open a surfboard rental shop at Playa Santa Catalina; trek tour groups through the wild Darien Gap; open a marina, hotel, restaurant, or nightspot along the beaches of the Pacific coast; launch a horse-drawn carriage service on Isla Taboga, the "Island of Flowers," which has no cars; take tour groups through the historical ruins of Panama's colonial era…the opportunities are endless…

 
Learn the Keys to Successful Investing in PanamaThe Republic of Panama is perhaps the ideal destination for anyone looking for serious financial privacy and no taxes, corporate or personal. Its proximity to the growing Latin American market makes it a natural base for world business operations, and, in spite of its troubled history, it isn't directly under the thumb of either the United States or the United Kingdom.

Panama is a country in much better shape financially than its Central American neighbors to the north, or Colombia to the south. Annual inflation has averaged 1.4% for the past 30 years, and during the 1990s, it barely exceeded 1% per year. Then there is the wealth represented by the Panama Canal. Its operations in 2001, according to the Panama Canal Authority, generated $630.8 million in total revenues, much of which was plowed back into constant maintenance. But the move that could turn the current flow of 14,000 annual ship transits into a flood is the widening of the canal and the building of bigger locks.

There are also thousands of acres of land from former U.S. military installations—prized real estate with an estimated value of $4 billion. Admittedly, its distribution and privatization has been slow and marked by charges of corruption, producing few of the general benefits promised or anticipated.

How to Invest in Panama and Build a Tax-advantaged EnterprisePanama is on the rise…as a retirement destination…an adventure wonderland…and an investment paradise. It is simply bursting with opportunities for the adventurous entrepreneur. Things are just starting to get going here. Those with foresight stand to make impressive gains.

The government of Panama has set up a number of attractive programs and special zones in order to attract foreign investors to its shores. These programs won't last forever, though. But while they're here, they'll give the adventurous pioneers who decide to capitalize on them a tremendous head start in the business world.

In fact, almost every International Living reader we know who has come to retire in Panama has capitalized on the opportunities here, and has begun a business of some sort, from guest houses…to property developments…to resorts…to eco-tourism projects…to forestation projects…to charter dive operations...and even boat-repair outfits…

An Incredible Panamanian Investment: Spend Just $50,000 and Reap Enormous Tax BenefitsIn 1994, Panama passed Law No. 8—the most modern and comprehensive law for the promotion of tourism investment in Latin America and the Caribbean.

Since the law was enacted, dozens of the world's largest hotel chains have swept in to take advantage of it. But Panama's attractive tourism investment laws are not just for big business. Anyone willing to invest as little as $50,000 in a tourism project can take advantage of the enormous tax benefits and financial incentives available here.

You could build a guest house in the hills of Boquete; start a whitewater rafting outfit in Chiriqui Viejo; open a surfboard rental shop at Playa Santa Catalina; trek tour groups through the wild Darien Gap; open a marina, hotel, restaurant, or nightspot along the beaches of the Pacific coast; launch a horse-drawn carriage service on Isla Taboga, the "Island of Flowers," which has no cars; take tour groups through the historical ruins of Panama's colonial era…the opportunities are endless…

With a minimum investment of $50,000 anywhere in Panama's interior, you receive:

·             A 20-year exemption of any import taxes due on materials, furniture, equipment, and vehicles

·             A 20-year exemption on real estate taxes for all assets of the enterprise

·             An exemption from any tax levied for the use of airports and piers

·             Accelerated depreciation for real estate assets of 10% per year.

And if you start up a tourism-related business in one of the specially designated tourist zones, you can also receive a 15-year exemption on your income taxes.

The Panama Real Estate Investment IncentivesWith its Law No. 9 of Aug. 27, 1997, the Panamanian government created great incentives for property developers interested in Panama City's Casco Viejo (the old city).

For instance, any income you make from the sale or rental of your property is exempted from income tax for 10 years. You can also deduct 100% of the costs of the renovation from your income tax. Plus, you won't have to pay any duties on any materials you import to complete the renovation.

You won't have to pay any property taxes for 30 years. Nor will you have to pay any transfer taxes—providing the property costs $50,000 or more.

Signs of private investment prompted by these incentives are everywhere. You don't walk far without passing a restored building or one in process of renovation. Scaffolding seems to be on every corner. There's an almost "land rush" feel to condominium development in the area.

Panama is a travel destination growing in popularity. This gorgeous, tropical nation is most famous for its canal—which is, of course, a must-see, unforgettable attraction—but has much, much more to offer to travelers. Panama's natural beauty is astounding, and there are beaches, rainforests, and mountains for you to enjoy. Additionally, Panama City offers a metropolis rich in both fascinating history and modern diversions.

Panama City Is Full of Exciting AttractionsWhat is the first thing that comes to your mind when you think about Panama? No doubt it is the Panama Canal—the country's principal tourist attraction, as well as one of the county's largest sources of income. Seeing the "Eighth Wonder of the World" is an obligatory experience for anyone traveling to Panama, and watching a boat pass through this marvel of engineering is a memory that will last a lifetime.

Another popular attraction is the historic colonial section of Panama City known as Casco Viejo. This neighborhood of colonial architecture is being restored and becoming a very hip area. Some buildings remain as crumbling tenements, while others have gained new lives as gorgeous restaurants, art galleries, and more.

Modern Panama City is in itself a great destination. Whether your ideal travel itinerary involves shopping, theater, and jazz clubs or casinos, bars, and night clubs, Panama City has what you are looking for. There are also plenty of hotels to suit all budgets.

 

One of the most popular and well-known beach destinations for Panama travelers is Bocas del Toro, near the Costa Rican border on the Atlantic/Caribbean side. This idyllic archipelago is famous for its beautiful Caribbean islands of stunning white-sand beaches, fringed by lush tropical rainforests. Bocas is very laidback, but also offers lots of daytime watersports activities and an enjoyable nightlife scene.

Other fabulous Panamanian beaches include those of the San Blas Islands. San Blas is an autonomous region of Panama's Caribbean coast that is home to the Kuna Indians, one of Panama's many indigenous groups. You can take tourism adventures to these undeveloped, idyllic beaches. The presence of the Kuna also makes for a fascinating visit, and San Blas is an excellent place to buy molas (embroidered textiles), Panama's most famous handicraft.

Panama's Majestic RainforestsThose hoping to visit a rainforest during their travels will be thrilled with Panama's numerous rainforest reserves. Travelers with little time can visit the Parque Metropolitano, which is a beautiful rainforest reserve located inside of Panama City. It offers incredible vistas of the city. Visitors with more time and a sense of adventure can head off to the DariénNational Park, near the Colombian border. DariénNational Park is Panama's most incredible national park, and boasts a massive area of thick, untouched rainforest. It is also one of Panama's many excellent bird-watching destinations.

Get Quality, Affordable Health Care in PanamaPanama offers good-quality medical care and modern hospitals in its metropolitan areas. There is a great medical center with modern facilities in the city of David in the ChiriquiProvince in the western region of Panama. Many Panamanian doctors are U.S.-trained, and the standards at the top hospitals compare favorably to those in the United States.

Private health insurance is available and much less expensive than insurance in the United States. Prices for prescription drugs are low as well, because manufacturers price them for the market. Plus, many drugs that require a prescription in the States are available over the counter in Panama.

Retire to Panama and Enjoy the Many BenefitsAre you looking to retire overseas and enjoy a quality of life much better than you currently have? Maybe even retire much earlier than you were expecting to? If so, you should consider retiring to Panama. In fact, Panama remarkably topped International Living's annual Global Retirement Index for six years straight.

The amazing benefits of retiring to Panama used to be secret, but not anymore. IL is no longer the only voice encouraging people to retire to Panama; respected publications including SmartMoney, TheStreet, and The New York Times have recently published articles featuring Panama's many attributes.

Retire to Comfort and Luxury in PanamaPanama offers a very comfortable retirement, in part because the nation is much more developed than most visitors expect. Many who attend International Living's conferences and real estate tours are shocked by the modernity of Panama and the clusters of skyscrapers that define Panama City's skyline. All of the amenities you could wish for are all readily available in Panama.

Not only will you have access to all of the luxuries and comforts of your current life, but you will also have access to more of them because of Panama's lower cost of living. By retiring in Panama, you will enjoy the benefits of a developing economy where you can still take a taxi across town for a buck or two, get your haircut for a couple of dollars, or enjoy dinner for two with a bottle of wine at one of the finest restaurants in Panama City for a mere $30. There are also lots activities for you to enjoy, from jazz clubs to art openings to English-language theater performances. You may be wondering what you will do when you retire...but when you retire in Panama, you will never find yourself bored.

Inexpensive Real Estate and Health Care in PanamaConsistent with the generally low cost of living in Panama is the affordability of available real estate in Panama. Whether you are looking to live in a Panama City high-rise apartment, a condo in a gorgeous beachfront community, or a house in the temperate mountain region, you will find very reasonably priced real estate to suit your needs and desires. Most people who retire in Panama find themselves enjoying the property they have always dreamed about but couldn't afford in the U.S., Europe, or Canada.

Health care in Panama is also both inexpensive and modern. Many people considering a retirement in Panama worry about the quality of health care, but such worries are unfounded here. Good-quality health care and modern hospitals are available throughout the country. Many Panamanian doctors are U.S.-trained, and hospital standards are on par with what you would find in North America or Europe. Particularly appealing to those looking to retire in Panama is an important additional advantage: both private health insurance and prescription drugs are readily available and much less expensive than their U.S. equivalents.

Panama's Unmatched Pensionado Program for RetireesA major benefit of retiring to Panama that must not be overlooked is Panama's incredible pensionado (retiree) program. Panama's pensionado program, in its current form, was created with the passing of Laws No. 6 and No. 9 in June 1987, which provide those who retire to Panama with the most appealing program of special benefits available in the world.

To be eligible, the only requirements are that you are at least 18 years of age and receive a government or documented pension income from an international corporation of $500 (and an additional $100 for each dependent) each month. Those with private or non-documented pensions need to be at least 50 years old. Under the pensionado program, you will be entitled to :

·             50% off entertainment, such as movies, theater, concerts, and sporting events

·             30% off bus, boat, and train fares

·             25% off airline tickets

·             50% off hotel stays from Monday through Thursday

·             30% off hotel stays from Friday through Sunday

·             25% off at restaurants

·             15% off at fast-food restaurants

·             15% off hospital bills (if no insurance applies)

·             10% off prescription medicines

·             20% off medical consultations

·             15% off dental and eye exams

·             20% off professional and technical services

·             50% off closing costs for home loans

·             And more…

Pensionados also receive a one-time exemption on the importation of household goods of up to $10,000, and, additionally, will enjoy an exemption from duties for the importation or local purchase of a car every two years.

Panama's government offers many excellent benefits and incentives so that you can enjoy an early retirement in Panama.

Life Expectancy at Birth: 75 years

Economy: Panama's dollarized economy rests primarily on a well-developed services sector that accounts for three-fourths of GDP. Services include operating the Panama Canal, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism

Exports: $8.087 billion f.o.b. (2006 est.)

Imports: $9.365 billion f.o.b. (2006 est.)

Gross Domestic Product (Purchasing Power Parity): $26.04 billion (2006 est.)

GDP per Capita: $8,200 (2006 est.)

Inflation Rate: 2.6% (2006 est.)

Panama Real Estate: Double the Luxury for Half the Price 

If you are considering a move to Panama, then you will be pleased to learn that there is a large amount of real estate for sale here. Whether you want to find a luxury apartment in Panama City, a beautiful property in the mountains, or a sprawling beachfront lot, Panama offers it all.

The Real Estate in Panama Is Inexpensive and Easy to PurchaseIt is important to first note that most of the property you will find for sale in Panama will be much more affordable than what you may be accustomed to. Panama is regularly hailed for providing First-World luxuries at Third-World costs. Panama City is a modern metropolis where you will easily find all of the amenities and comforts you need. Nevertheless, the country's economy is still developing, and prices are relatively inexpensive across the board. In other words, you will be able to find stunning properties for sale in Panama that you may not be able to find or afford elsewhere.

It is similarly important to point out that acquiring property in Panama is relatively simple. Foreigners in Panama enjoy the same property ownership rights as Panamanian citizens. So when you find that exquisite beach lot for sale and are ready to pursue your lifestyle dream, you needn't wade through painful property laws that persist in other nations. That said, you should always proceed cautiously and legally when eyeing real estate for sale in Panama. But rest assured that you will most likely be able to obtain the property with little hassle.

Real Estate in Panama CityThose interested in living in booming Panama City will be happy to know that there is a long list of luxurious high-rise properties for sale. Many of these high-rises offer state-of-the-art modern facilities that are the definition of luxury. There are always properties for sale, but the apartments and condos are typically sold out well before the construction is finished. Do not let that dissuade you from researching the market—rather, take it as evidence of what a hot spot Panama City is becoming and the bright future ahead.

There are also countless other properties for sale in Panama City at even cheaper prices than the luxurious high-rises. There are attractive apartments and houses scattered around the city available for purchase. These properties may not be advertised as vigorously as the new high-rises under construction, but you can undoubtedly find quality properties for sale that suit all price ranges.

Properties for Sale in the Mountains and on the Beaches of PanamaMany people looking for Panamanian real estate are not at all interested in living in Panama City. Many are, in fact, more attracted to life in the countryside, where the cool breezes and mountain valleys create an eternal spring-like climate. Boquete, in Chiriqui province, is the most famous of such locales, and there is much land and many developed properties for sale there. Unfortunately, Boquete's many attributes have led to increasing popularity that has also spurned a rise in prices. People looking for slightly less expensive properties will be able to find them for sale in other comparable locations around Panama.

People searching for an endless summer rather than an eternal spring will probably be inclined to search out beach properties for sale in Panama. Thankfully, Panama has miles and miles of coastline. There are several developments where you can find excellent beachfront real estate for sale. Also, much of Panama's coast has yet to be developed, so you can find amazing beach lots for sale at bargain prices.

 

 

 

 

Looking for beach front property? try Panama

Dream of warm ocean water gently caressing your feet? Want to peruse the endless azure sea from the soft sand of your own beachfront property? Then you should think hard about Panama. Here, you will find a large quantity of available beach real estate, and you will be surprised at how affordable your slice of oceanfront paradise can be.

Panama has so much exquisite beach property available because the country has miles and miles of coastline but a small population. The vast majority of the nicest beachfront property is undeveloped and virtually uninhabited. During the week, you are hard pressed to find another person on many long stretches of beach. Even on weekends, most beaches in Panama are rarely crowded. Some hotels and resorts are starting to pop up here and there, but in general, tourism is still in its infant stage

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Panama's pacific coast

Those interested in buying beach lots in Panama are usually best advised to look to the Pacific coast. Much of the finest property available is within just a few hours' drive of Panama City. The coastline looks as if it is straight from a postcard. The beaches here are ideal for all sorts of beach activities including sunning, surfing, swimming, and snorkeling—and there is an abundance of tempting beachfront real estate in Panama.

Panama beach property is inexpensive, and you can find some ocean-view condos for even less than $100,000. Spending a little more on your beach real estate will get you larger and more luxurious condos, townhouses, or villas.

Oceanfront Property Options on Panama's Atlantic Coast The Atlantic coast also offers some possibilities for purchasing beach lots in a Caribbean setting, but accessibility to these areas is more difficult. Also, title issues in some parts of Panama's Caribbean coast are slightly more complicated, meaning that you should use much more caution when buying beachfront real estate there.

The most well-known area to buy beach property on the Atlantic coast is at the tourist hotspot of Bocas del Toro. There is no question that visiting Bocas is an excellent way to pass some vacation time, but buying beachfront real estate there is no longer the bargain that it once was. Nevertheless, there is no question that there are still good deals to be had in Bocas and other places along the Atlantic coast...you will just have to look a little harder to find them.