Go to Panama City today and you will find a glittering skyline that rivals Miami, Singapore, or Dubai.
You’ll see new cars traversing modern highways and upscale shopping centers beckoning with luxury goods.
Panama’s world-class hospitals and clinics provide state-of-the-art care and leading-edge therapies (such as stem cell) that are re-making the country as a top medical tourism destination.
As it emerges from the pandemic, the International Monetary Fund (IMF) predicts Panama will enjoy one of the “fastest growing economies in the region” for 2022.
Tens of thousands of U.S. and Canadian retirees have heeded our call and now make Panama their home.
Younger people, too—singles looking for opportunities, families with children, digital nomads who can work from anywhere—are finding their way to the isthmus.
Panama, in fact, offers several residences visa options and welcomes foreigners coming to its shores to enjoy the good life and help bolster the economy even more.
There’s a new digital nomad visa and even a direct path to citizenship and a second passport if that’s something you’d like to pursue.
10 Reasons Panama is #1 for Retirement
#10. If you live in the U.S. or Canada, you know Panama is close to home…just a three-hour flight from Miami, pretty much directly south. It’s in the same time zone as North America, in fact—either central or eastern time, depending on the season.
#9. The warm, tropical climate is a big attraction. One-season wardrobe is all that is needed. That’s something nobody tells you…you’ll save thousands on your wardrobe costs when you live here. It’s one of the unexpected savings. Parkas, hats, gloves, and snow boots…snow shovels…I’ll never buy those again if I can help it…because I never plan to see snow again.”
And because of its shape and geographic orientation, you are never far from a gorgeous beach.
You’ll love the cosmopolitan capital city (with a new metro rapid transit system), the lush, green mountains, rainforests, beaches… You can swim in the Pacific Ocean and the Caribbean Sea on the same day, and from some mountain ridges, you can turn and see both oceans.
#8. No big weather traumas. There’s no such thing as blizzards and ice storms in Panama. No hurricanes, either. While it’s nicely situated at the southern tip of Central America, and between the Caribbean Sea and the Pacific Ocean, Panama is well below the hurricane belt. You can live the laidback tropical lifestyle with no need for expensive hurricane insurance.
#7. You can lower your cost of living without giving up those things that are most important to a happy lifestyle. It can be remarkably affordable to live in Panama, with no sacrifices. Expat couples report they live very happily and comfortably on budgets averaging about $2,000 a month.
#6. You’ll find top-quality medical care. (Punta Pacifica Hospital is affiliated with Baltimore’s renowned Johns Hopkins Medicine.) Many doctors have trained at major universities in the U.S., Europe, and beyond, and they speak English.
You’ll find many healthcare innovations, too—such as stem cell therapies. (Panama is quickly becoming a global leader in non-surgical therapeutic options.)
By the way, the cost of healthcare can be five times less than comparable services in the U.S. That should get your attention.
#5. You have many affordable health plan options, too. You can join a hospital-based plan, get private insurance, use your TRICARE…
Retirees who would be paying $1,250 a month or more—$15,000 a year—in the U.S. for health insurance with a high deductible say that in Panama, they’re paying, on average, $3,240 a year for coverage—and that’s with a deductible of just $250 a year. That’s a savings of nearly $12,000 a yearright there.
#4. Plus, Panama offers all retirees—including foreign residents—the option to join its world-class Pensionado (Retirement) Program—the most generous and appealing program of special benefits you’ll find anywhere in the world today. I’ll explain more about this in a moment…it’s important for you to understand its many benefits.
#3. Another thing expats in Panama appreciate is the big tax savings. You’ll pay no taxes on your foreign-earned income. In fact, you’ll experience far less bureaucracy and government intrusion overall, than you’ll find elsewhere in the world.
For instance, a new property tax law went into effect on January 1, 2019, which reduces property taxes in Panama—to an incredibly low .5% of the value of the home. And you can get full tax exemptions on some properties constructed in recent years.
#2. Importantly, it’s easy to settle into life in Panama. The government is stable and the economy is robust. Despite the pandemic, the International Monetary Fund (IMF) predicts Panama will be one of the “fastest growing economies in the region” for 2022.
By many accounts, Panama is the most modern and progressive country in Latin America.
All your brand-name products and specialty items are available, high-speed internet is just about everywhere… You can drink the tap water… The U.S. dollar is the official currency…
Americans helped build the Panama Canal, remember, and they’ve been a steady presence in Panama for generations, so you’ll find a big community of English speakers.
But There’s Another Compelling Reason—the TOP Reason, in fact, to Choose Panama: Because of the Panamanians Themselves.
#1. You cannot beat the warmth and the welcoming nature of the Panamanian people. They are happy and it’s infectious.
Part of it all is surely the long association Panama has had with the U.S. for 200 years or more. “Zonians,” in fact, is a term used to describe descendants of Americans who were born and/or stayed in Panama after their ancestors came to build and maintain the canal. The late Senator John McCain, the baseball player Rod Carew, and musician Stephen Stills are famous Zonians…
Panamanians understand our culture and our customs. They’re happy to share their country with us. And they’re unfailingly happy. But why not? They enjoy a high standard of living and a low unemployment rate and low crime rates, but an overall low cost of living. Who couldn’t be happy with that?
And in 2022 Panama is #1: the world’s best place to retire.
You owe it to yourself to see what Panama offers you.
