This post is also available in: Spanish
By: Staff at Panama Offshore Legal Services
E-Mail: email@example.com || Phone: (507) 227 – 6645
Panama attracts a lot of foreign investors, international professional workers, and foreigners wishing to relocate here. Another group coming here in record numbers is retirees. That’s because Panama offers nearly everything a retiree needs at a fraction of the cost compared to the U.S., Canada, and Europe. Retiree communities thrive around Panama City and in the interior.
Here are five reasons why retirees choose Panama as their ideal place to retire:
1. Lower Cost of Living for retirees on a strict budget finding Panama cheaper than home. Rents are lower, basic goods are cheaper, first-rate medical care is a fraction of the cost back home. It is possible to live in a Retiree-friendly community for around $2,000 USD a month, including rent.
2. Retiree Discounts are available to those on a Pensionado (Retiree) Visa who are women over 55 years of age or men over 60 thanks to the Panamanian government. These include: 15% discount for fast food restaurants, dental & eye exams, hospital bills, and personal loans. 20% discounts for medical consultations, and professional & technical services. 25% off for restaurants, utility bills, and domestic airline tickets. 30% discount for hotel stays from Friday through Sunday; and bus, boat, and train fares. 50% off hotel stays from Monday through Thursday, home loan closing costs, and entertainment tickets (concerts, movies, sports).
3. Warm climates are very attractive to retirees. Panama City’s climates range from 80 – 90 F (27 – 32 C) all year long. The beaches are a little cooler and the western mountain areas of Boquete and Volcan range from 65 – 80 F (18 – 27 C) making these areas very popular for retirees. It never snows in Panama.
4. Panama’s location is ideal as the Tocumen International Airport has direct daily flights from numerous cities in the U.S., Canada, and Europe.
5. Convenience, because Panama offers all of the creature comforts a retiree can enjoy such as imported foods at reasonable prices, international cuisine, modern shopping malls with all the top brands, beautiful beaches on both coasts, and many English-speaking retiree communities.