Ten Good Reasons to Retire in Panama

1. Stable Government and Modern Infrastructure
Panama is a democracy and with no armed forces and a low crime rate.
Panama’s highways, communication system, shops and banks are all very modern even in remote areas.

2. Growing economy
In addition to the Panama Canal and its expansion program, Panama's GDP has major contributors in International banking, maritime services, manufacturing, shipping and has the second largest free zone in the world.

3. Friendly people
Due to the major presence by the US military prior to the handover of the canal in 1999, Panamanians are accustomed to foreigners. They are most helpful and will try their utmost to help even if language is a barrier.

4. The currency is the US dollar since 1904
Obviously there is a benefit for Americans not having to worry about currency exchange risks but the major benefit is that the Panamanian Constitution forbids the government from printing paper currency. This ensures there is no mega inflation experienced by other developing countries.

5. The climate and environment
Panama gives the settler the choice of City living, a more temperate mountain climate or a tropical sea-side location – either way it is difficult to live more than one hour drive from the beach.

6. The cost of living in Panama is far less than in the US or Europe.
Government statistics show that most of retirees will not be able to sustain their current standard of living by relying on savings, assets or pensions. Panama is still relatively inexpensive compared to the U.S., Europe and other retirement destinations.
Most international products can be sourced at real market prices.

7. Affordable medical care
Health care is also both inexpensive and modern. 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. Both private health insurance and prescription drugs are readily available and much less expensive than their U.S. equivalents.

8. Flexible taxation system
Panama is famous for its taxation regime. Highlights include:

• Residents pay no tax on foreign earned income
• Panama is one of the best offshore havens in the world
• Foreigners can buy and own property in Panama with the same rights and protections as Panamanians citizens.

9. Inexpensive Real Estate
Whether you are looking to live in a Panama City high-rise apartment, a condo in a beachfront community, or a house in the temperate mountain region, you will find very reasonably priced real estate to suit your needs. 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.

10. Fantastic benefits program
The best retirement program in the world.

source: www.expatdailynews.com