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A world-class banking system with a high-degree of secrecy. Panama is an international banking and finance center that has no restrictions on the movement of money in or out of the country. It is also legal and very simple to form truly anonymous corporations.The Panamanian currency is the US dollar, which is of tremendous importance in attracting foreign investment. (Panama does mint coins which are identical in size and weight with US coins and of the same value.)
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Discount of 10-50% on products and services for foreign "retirees"
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Excellent business opportunities with incentives
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A wealth of activities to stay busy and happy
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Residency perks. The Tourism Master Plan includes incentives to encourage investment in Panama which include no income or capital gains taxes for twenty years and the importation of a wide variety of goods duty free (when they are related to a tourist business)
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First world living. Panama has the highest per-capita income, the largest foreign investment and the most highly developed economic infrastructure in Central America
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Prior to the opening of the Panama Canal, the island of Bocas del Toro was the center of commerce for Central America and still reflects the colonial influence resulting from worldwide activity in the once booming banana, coconut and cocoa business.
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The Panama Canal and the long standing involvement of the United States. Panama has the highest per capita US investment in all of Latin America is one reason why Panama's infrastructure is far and away the best in Central America. Highways, airports and shipping centers are extensive and well maintained.
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WHAT THE PRESS IS SAYING:
Thursday, April 10, 2008
Dear International Living Reader,
Dan Prescher
Over the last two years, we've been hearing rumblings that Panama has gotten too expensive … that it's no longer a good deal. And we've heard that not only from readers, but also from a few staff members.
So here's where we set the record straight. The Panama that's been our favorite for years deserves a broader approach. A fresh look … a deeper look.
Panama has long been the prime choice for retirees, second-home buyers, and property investors alike. Readers have retired in style, enjoyed terrific vacation homes, and made money. The country deserved the #1 spot on our Global Retirement Index for six straight years. It’s been a winner.
But we decided to dig deeper … to broaden the appeal of this successful destination. Our work paid off.
Yes, we’re still well-connected to the premium property market that has made Panama a mainstay with property buyers and investors from around the world. The Panama that offers the luxury of Miami at a fraction of the price is still there … and it’s still booming.
But we’ve gone a step further. We’ve tapped into the local market and found investment and lifestyle properties that are so affordable many people thought they were gone. Properties marketed to the local buyer rather than the foreign buyer, including:
Apartments in Panama City for less than $70,000.
Prime building lots on the edge of town starting at $25,000.
Good rental apartments starting at $350 per month
Beachfront lots on the shimmering Pacific at $125,000 for almost an acre … with small beachfront parcels starting at an amazing $38,000!
A rolling green 10 acre farm in the hills of Chiriquí for just $30,000.
Expensive? No … it’s a bargain. It’s the hidden, affordable Panama. A place where you can still live on $1200 per month.
Content to Watch Bananas Grow, More Retirees Relocate to Panama
With low housing and living costs, a stable political environment, relatively safe streets and that tropical climate, people in their 50’s and early 60’s are flocking to the Central American nation, rather than working for a few more years to scrape together enough money for a condo on the Florida coast. “We’re seeing a significant number of Americans coming here to retire,” said William Ostick, a spokesman for the united States Embassy in Panama City. Mr. Ostick said the embassy did not keep statistics on Americans who have moved to Panama to retire, but he said there were 25,000 to 30,000 Americans living there.
New York Times, April 2006
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Middle Ground: Panama May Be Central America’s Hottest real Estate Market
For anyone who envisions Panama as a sleepy bucolic country, the first view of the capital city may come as a shock. The skyline of Panama City bristles with high rise business towers and residential condominiums…The countries’ reputation as a hot new destination is based as much on its capital’s high-energy urban lifestyle as on the beautiful beaches of its coasts and its lush mountainous interior.
Robb Report, Winter 2006
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Paradise Found: Where to Retire Abroad
Panama-Selected as one of the top 5 places in the world for retirement living.
Fortune Magazine Retirement Guide 2005
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Retiring in Panama
“The country has several things going for it that mesh with modern-day retirement plans. Panama has a reputation for being friendly and welcoming, and Americans are not new to Panama…Retirees can choose among quiet beach communities on the Pacific Ocean, the urban and modern Panama City, tropical Carribean islands, or Panama’s highlands where year around spring makes sweaters comfortable in the evenings. ‘The best thing about living in Panama is that I feel relaxed and stress free here-beautiful scenery, climate and the people are so friendly’ says Randy Moscorella formerly of Ojai, California. The frosting on the cake is an affordable cost of living and inexpensive real estate.”
Where to Retire Magazine, July 2005
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Beauty and Tax Breaks Lure Buyers to Panama
“ Little wonder that Panama is increasingly lighting up the radar screens of those searching for an affordable alternative to more traditional south-of-the-border retreats…Touted as the next Costa Rica’ by travel magazines and newsletters like International Living, Panama is undergoing a land rush as its Tocumen Airport fills with planeloads of eager foreigners with cash in hand.” The opportunities are appealing not only for those seeking a place to retire but also for entrepreneurs.”
New York Times, February 2005
