When making the decision to move overseas, there is so much to consider such as the kind of security as well as healthcare available in the destination of choice. But even as more and more people choose to move or spend their retirement years abroad, Panama remains a top expat destination for a number of reasons.
Panama is a renowned retirement destination that has been on the radar for many expats as a comfortable, safe and affordable place to retire. This country is regarded as one of the safest in the region for foreigners for many reasons. It is not prone to natural disasters like earthquakes or hurricanes which often hit most areas within this region.
It is conveniently located at just a few hours flight from the United States which makes it easy and convenient for those retirees from the United States living in Panama to occasionally visit their family and friends.
High-Quality of Life
Being comfortable is more than just price and location but about the quality of life. A great retirement destination should be one that is peaceful and one where the retiree enjoys each day. After all, this is what retirement is all about. Panama is the most ideal place for the golden years since life is simple here.
There is less stress and more rest with plenty of amazing sites to visit that include beaches, rain forests and so much more. High-quality and inexpensive healthcare is available in this country which is extremely beneficial to retirees. Hospitals are well-equipped with modern facilities while doctors are fluent in English. Prescription as well as over-the-counter medications are available at an affordable price.
While Spanish is commonly spoken in this Central American country, foreigners who speak English will still find it easy to learn the language from the friendly and hospitable locals. Most foreigners enjoy living in the beach areas near Coronado as well as the mountain areas like El Valle de Anton, Santa Fe and Boquete.
All these areas enjoy conducive weather all year round. Foreigners who may be interested in buying retirement homes in Panama enjoy the same property rights and protections as the local people.
Cost of Living
While Panama is not the cheapest country to move or retire, it still offers great value to foreign expats who choose this country as their ideal destination. For instance, in some retiree-friendly towns, one can rent a simple house, cover their food/utility bills on social security alone although this may not be the case in the capital and other wealthier suburbs.
Even those on a tight budget will still find something that suits them in Panama without so much hassle. All one needs is to know where to look and how to plan effectively. The Government’s Pensionado program is perhaps another reason why Panama is such an attractive retirement destination. Introduced in 1987, this retiree residence scheme has emerged as one of the best in the world as it offers numerous unique benefits that cannot be found anywhere else.
For example, pensioner expats are accorded the right to live in Panama for as long a they wish and they are also eligible for discounts to ensure that they live a budget-friendly and comfortable retirement life. The Panama Pensionado Visa has made this country the best retirement location as this Visa is an easy and convenient way for pensioners and foreign retirees to acquire residency in Panama.
The retired expats also enjoy the same subsidized benefits that the local retirees receive. For one to qualify for this program, they should be receiving a permanent lifetime monthly income that can either be from a government scheme like social security or a private pension that is at least $1000 per month. This visa also allows foreign resident retirees to rent or own property in Panama.
When it comes to retirement destinations, Panama is one of a kind as it offers several incentive programs to retirees that also extend to younger pensioners and retired foreigners living in the country. To get information on our exclusive 6 day 7 night tour of Panama, visit our Itinerary Page.
Retire in Panama Tours
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