Retire in Panama

Retire to Panama and Enjoy the Many Benefits

Learn more about retiring to Panama in free IL Postcards

Are 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 Panama

Panama 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 Panama

Consistent 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 Retirees

A 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.

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Read related IL Postcards:

- IL Retirees Get Cheap Flights to Panama

- A Little-known Panamanian Law Could Save You Thousands