When asked the question, “what would you do if you won the lottery?” majority of people respond, “move to a tropical island.”
Warm weather, cooperative climate, nature and leisure time are known to improve quality of life. Given this information, it is no surprise why most American retirees resort to Southern California, Arizona or Florida. Unfortunately, these locations are getting more and more expensive, and not to mention elusive to find, as more and more people seek a life away from crowds, traffic, smog and harsh weather.
Latin America has become a popular destination for many people seeking such a lifestyle. In fact, 750,000 people visit Costa Rica, located in Central America, each year. And approximately 40,000 Americans currently live in Costa Rica as retirees.
Looking for a more secluded, luxurious location that incorporates all of the metropolitan amenities, nature and safety you desire? Look no further south than Panama. The country directly south of Costa Rica, serves as the connector between North and South America, a recent investors’ paradise and ecotourists’ reverie.
Some say Panama is the new Costa Rica. In a lot of ways, Panama is closely resembling the boom Costa Rica experienced just a few short years ago: an exponential increase in the housing and land markets. Tourism is also increasing, not at the same rate it did in Costa Rica, but it is on the rise, and countless factors contribute to the growing list of reasons to retire in Panama.
Panama has something for everyone: exhilarating ocean kayaking, pristine beaches, great surfing, out-of-this-world tropical rainforests, unique bird watching, an interesting cultural background, rich history and supreme eco-responsibility, to name a few.
Panama now has a modern society, with modern infrastructure and an adopted US style. This makes the transition fairly effortless, especially for retirees of the United States. Not to mention, Panamanians are some of the friendliest and most welcoming people you will ever meet. Great driving roads, beautiful scenery, direct flights to multiple US and international cities, more amenities, lower costs and lower crime rates than many other traditional retirement locations, all contribute to the abundant list of advantages to retiring in Panama.
Panama is wide open to incoming retirees, unlike a certain country to the north that has recently begun shutting its doors to such folks, and the benefits to retirees are fantastic:
• No tax on the import imported cars or household goods.
• No income tax on income from outside Panama.
• No property taxes for 5, 10 or 15 years depending on the property.
• Discounts on prescriptions, utility bills, cars, restaurants, lodging and much more.
“Panama is the best place in the world to retire.” A rating based on the low cost of living, stable government, clean air, climate, safety and outdoor recreation - from tennis and golf to river rafting. International Living, 2007
Panama is fast becoming one of the world’s top retirement destinations and there truly has never been a better time to invest yourself in Panama.
{ 2 comments… read them below or add one }
Ray Frensham 12.20.08 at 12:13 pm
Well I would be interested in retreating to my retirement Panamanian island (and I currently live in the UK, London - but perhaps not for much longer). - Ray Frensham
Playa Blanca 12.22.08 at 2:34 pm
@Ray Frensham. Thank you for checking out our blog! Come back for more information about moving to and living in Panama. Maybe we can persuade you to retire to a Panamanian Island! ~Thanks for reading!