Retirement Paradise

Retired couple on a boat “Panama is the smart choice for retirees who want it all—in a country that really wants them,” says AARP. Panama has one of the best retiree incentive program in the world. Panama created its residence program to welcome all nationalities, with a special focus on both Americans and Canadians. That program means your dollar goes farther and you can live well for less than the cost in the US. And, with Playa Dorada, you live at the beach.

Most international locales have trade offs for their low cost of living. Access might be difficult. Healthcare is second-rate. Real estate is not actually owned. The culture may not welcoming. Ordinary business is difficult. Panama is the outstanding exception.

Unlike Latin American countries, Panama is not Third World. Thanks to a long US presence, it is a world transportation and financial hub–with modern infrastructure. The newly-built Panama City metro system makes it even easier to get around. Things work here. The economy, diversity and sophistication is similar to the US, especially in Panama City—with a population of over 1 million. You can get to the airport quickly and efficiently. High-speed Internet and cable is the norm, rather than the exception. Your international phone calls go through the first time, every time.

Panamian Toucan Stamp

The Facts

  • Panama is one of the safest countries in Latin America with the highest rating for tourist safety.
  • Panama is an extraordinarily beautiful country with a wide variety of residential venues including mountain, beach and city communities. Panama has a near perfect climate.
  • Panama City is a modern capital city with high-speed internet, first-rate hotels and restaurants and shopping on a par with the US.
  • Panama has medical facilities on a par with the United States. Panama has a reliable communications and road infrastructure.
  • Panama has a lower cost of living than many places in the US. Panama's currency is the US dollar.
  • Panama is close to the US with direct flights from 10 major US cities.
  • Retirement visa requirements are minimal.
  • Foreigners can buy and own property in Panama enjoying the same rights and protections as Panamanians.

Weather

Panama has no hurricanes ever-–and no destructive earthquakes that plague Mexico and its neighbors in Latin America. It's is the only country in Central America in an absolutely hurricane-free zone.

Funding Your Retirement

A couple can live comfortably in Panama for $2,000 per month and own a new home. How? For most people, there are three big living costs: housing, healthcare and taxes.

New construction homes at Playa Dorado start at just $80,000 and condos start at $121,000. In fact, it hard to spend more than $200,000 in this award winning master planned community. And, like in the US or Canada, you own your home and land is registered in title and deed under your name. This fabulous opportunity makes life in Panama very attractive, your retirement well-funded and frees you to travel and enjoy life more.

Basic healthcare in Panama is free. Many people also add private health insurance, which costs on average $150 per month. Living in a suburb of Panama City, Dorada residents have a choice of many of the nearby state of the art hospitals and doctors.

Consider what you paid in US taxes last year. Now add those dollars back to your income. There are no Panamanian taxes for members of the residency program.

Budget

A monthly budget of less than $2,000 at Playa Dorada looks something like this:
Mortgage of a two-bedroom apartment ~$850
Utilities and air conditioning $125
Food and household items $400
Maintenance and fuel for one small car; Uber is now a popular alternative $100
Entertainment for movies twice a month and dinner four times a month $150
Communication costs for phone, Internet and cable TV $100
Health care $150
In time, many cut costs and save substantially by shopping at the same places as locals.

Pensionado Residency

  • 50% off entertainment anywhere in the country (movies, concerts, sports)
  • 30% off bus, boat, and train fares
  • 25% off airline tickets
  • 50% off hotel stays from Monday through Thursday
  • 30% off hotel stays from Friday through Sunday
  • 25% off at restaurants; 15% off at fast-food restaurants
  • 15% off hospital bills (if no insurance applies)
  • 10% off prescription medicines
  • 20% off medical consultations
  • 15% off dental and eye exams
  • 20% off professional and technical services
  • 50% reduction in closing costs for home loans
  • 25% discounts on utility bills
  • 15% off loans made in your name
You’re also entitled to duty-free car import or purchase and up to $10,000 in household goods.

Real Estate

Foreigners in Panama enjoy the same property ownership rights as Panamanian citizens. Unlike Costa Rica and Belize, you own full title to land and property in Panama, just like in the US and Canada. Costa Rica and Belize only offer a land lease.

Buying a home is the same process as purchasing property in North America. At our award winning development, Playa Dorada, you are buying a new construction home from the builder. In a similiar series of steps purchasing a home in Panama is as easy as in North America.

Playa Dorada homes are built under Panama's strict construction regulations and warrantied against defects. The community has standards for maintaining your property so that homes retain their property values.

Panama recognizes three different types of property ownership: titled, rights of possession and concessions. Playa Dorada only features titled property ownership just like in the US and Canada. More rural areas of Panama have rights of possession and concession rights, which have more risk.

Shared History

Roosevelt with the Rough Riders Since Spanish Colonial days, Panama had long fought for independence, first from Spain and then from Columbia. Modern Panama owes its existence to the Panamanian Independence movement led Manuel Amador, bold action by US President Teddy Roosevelt and support from the failing French Canal developer. It took American action to make independence secure and stable for Panama in 1903.

With its long history as a key port and over-land transportation route, Panama was a prized possession. As a world port, the Panamanian people had long viewed themselves as an independent nation. The tiny country fought for independence unsuccessfully during military coups and political instability of the 1800s. The defeat of the Spanish in the Spanish American war in 1898 provided the Panamanian independence movement a new ally–the United States.

With backing by Americans, the Panamanians declared their independence. The US Navy gunboat USS Nashville was dispatched to local waters where Colombian soldiers had landed to cross the isthmus and crush the rebellion. US Marines and the Panamanian Railroad put a stop to the campaign to take Panama City by rail. The US recognized the Republic of Panama three weeks later.

"A Man, A Plan, A Canal, Panama"

Fifty-one miles long, with about $3.5 billion in bases and infrastructure, the Panama Canal links the Atlantic and Pacific Oceans. The newly constructed second canal services even the largest freight ships in the world. It remains a world engineering marvel even today. American ingenuity completed what the French could not: the world’s longest shortcut. For the rest of the 20-Century, the Canal Zone was a US possession–a key military route with large US Army and Air Force bases. In fact, children born in the Canal Zone are US citizens–the only possession with that status.

During this time Panama adopted the American models for law, property ownership, banking and commerce. The US gifted the Canal Zone to Panama on December 31st, 1999.

Twice the lifestyle, half the cost

“Panama is the smart choice for retirees who want it all—in a country that really wants them,” says AARP. Panama has the best retiree incentive program in the world. Panama created its residence program to welcome Americans and Canadians. That program means your dollar goes farther and you can live at a fraction of the cost of the US–twice the lifestyle, half the cost. And, with Playa Dorada, you live at the beach.

Most international locales have trade offs for their low cost of living. Access might be difficult. Healthcare is second-rate. Real estate is not actually owned. The culture may not welcoming. Ordinary business is difficult. Panama is the outstanding exception.

Unlike Latin American countries, Panama is not Third World. Thanks to a long US presence, it is a world transportation and financial hub–with modern infrastructure. Things work here. The economy, diversity and sophistication is similar to the US, especially in Panama City—with a population of over 1 million. You can get to the airport quickly and efficiently. High-speed Internet and cable is the norm, rather than the exception. Your international phone calls go through the first time, every time. 1

Press
Press

Not only does it feature attractive retirement destinations-sleek capital city, hot beach towns. cool mountain villages- but it offers an unbeatable package of retiree benefits and discounts (and a currency tied to the US dollar ) Little winder there has been a steady stream of expats in the past few years"
AARP: Best Places to Retire Abroad 2014
Panama City no longer qualifies as cheap, but other parts of the country certainly do. Panama continues to offer the world's gold standard program of special benefits for retirees. The currency is the U.S. dollar, so there is no exchange rate risk if your retirement savings and income is in dollars. The climate in Panama City and on the coasts is tropical, hot, and humid. However, the climate in the highlands can be temperate and tempting. Panama is the hub of the Americas, meaning it's easily accessible from anywhere in North and South America and Europe."
U.S. News, March 2014

How do you retire on $25,600 a year? Move to Panama
Live by the ocean? Check. Retire early? Check. Don't go broke doing it? Check. Peg Fairbairn and April Hess will tell you they're living the dream. They moved from Austin, Texas, last year to retire in Panama, at ages 58 and 53, respectively./ They live by the beach, say they have all the comforts that they were used to at home (mostly), and do it all on a budget of $2,133 a month. Moving abroad in retirement isn't for everyone, but for this couple it was ideal.
"We couldn't afford this in the States," Hess said. "Even if we didn't move near a beach and stayed in Austin, we'd still have to be working."They can see the ocean from their house and spend their time going to the beach, practicing Spanish with their neighbors and making good friends with other expats from the U.S."It's fabulous. We don't know what we do all day, but we're not bored," Hess said.
Moving abroad was always in the back of their minds. They finally made the move last year after selling their home and most of their belongings. Fairbairn was a teacher for 30 years. She taught eighth grade earth science when she retired in 2008 with a monthly pension check of $2,935 (after taxes). When the couple still lived in Austin, she had to substitute teach to make ends meet while Hess was still working as a bookkeeper.
Now that pension check is all the couple needs to live on. Rent, groceries, utilities, phone bills, TV, Internet and even their international health insurance is all cheaper than what they paid in Texas.
CNN Money July 2015

Is It Really Cheaper To Retire Abroad?
In Panama, you could go to a Johns Hopkins-affiliated hospital for a small fraction of what that costs in the US. You could buy a 2,000-square-foot home living among Panamanians in a beautiful, rural setting for $135,000. If that would be going “too native” for you, a similar house in the popular, well-developed expat community, Panama might cost the same as one in Tucson, Arizona. But the Tucson house is 400 miles from the ocean and is in a place where the high temperature can exceed 95° for four months at a time. In Panama, you can live at the beach.
Forbes May, 2015

Panama City

You can live comfortably in Panama for $1,500 per month and own a new home. How? For most people, there are three big living costs: housing, healthcare and taxes.

New construction homes at Playa Dorado start at $80,000; condos start at $121,000. In fact, it hard to spend more than $200,000 in this master plan community. And, like in the US or Canada, you own your home and its land with a deed. This dramatic savings makes life in Panama very attractive, your retirement well-funded and frees you to travel more.

Basic healthcare in Panama is free. Many people also add private health insurance, which costs on average $150 per month. Living in a suburb of Panama City, Dorada residents have a choice of many state-of-art hospitals and doctors.

Consider what you paid in US taxes last year. Now add those dollars back to your income. As an expat, you pay no US or Canadian taxes. There are no Panamanian taxes for members of the residency program.

A monthly budget of $2,000 at Playa Dorada looks something like this:
– mortgage of a two-bedroom apartment, $?;
– utilities and air conditioning $250
– food and household items, $300
– maintenance and fuel for one small car, $100; Uber is now a popular alternative
– entertainment for movies twice a month and dinner four times a month, $150
– communication costs for phone, Internet and cable TV, $100
– health care $150

In time, many cut costs and save substantially by shopping at the same places as locals.

PENSIONADO RESIDENCY

Once you qualify, this program amps up your budget. Browse the discounts on dialing living below:
• 50% off entertainment anywhere in the country (movies, concerts, sports)
• 30% off bus, boat, and train fares
• 25% off airline tickets
• 50% off hotel stays from Monday through Thursday
• 30% off hotel stays from Friday through Sunday
• 25% off at restaurants; 15% off at fast-food restaurants
• 15% off hospital bills (if no insurance applies)
• 10% off prescription medicines
• 20% off medical consultations
• 15% off dental and eye exams
• 20% off professional and technical services
• 50% reduction in closing costs for home loans
• 25% discounts on utility bills
• 15% off loans made in your name

You’re also entitled to duty-free car import or purchase and up to $10,000 in household goods

Panama City

Medicine in Panama is organized the same way it is in the US and many physicians trained in the US. Panama is the leading center for healthcare for both Latin American and South America. The Hospital Punta Pacifica is affiliated with John Hopkins with US-trained, English-speaking staff. Panama is called the cradle of the Americas because weathly Latin and South American families fly here to have their babies in Panamanian hospitals.

For ordinary health concerns, there is a regional hospital 3 miles from Playa Dorada in Coronado. A pharmacy is also 2 miles away. Specialists, for everything from arthritis to heart issues, are found in the major hospitals in Panama City. Hospital Nacional has an excellent staff of English speaking doctors, beautiful modern facilities and international department especially with a trained bilingual staff to attend both tourists and foreign residents. They accept most US insurance policies.

Panama City

Since Spanish Colonial days, Panama had long fought for independence, first from Spain and then from Columbia. Modern Panama owes its existence to the Panamanian Independence movement led Manuel Amador, bold action by US President Teddy Roosevelt and support from the failing French Canal developer. It took American action to make independence stick for the Panama in 1903.

With its long history as a key port and over-land transportation route, Panama was a prized possession. As a world port, the Panamanian people had long viewed themselves as an independent nation. The tiny country fought for independence unsuccessfully during military coups and political instability of the 1800s. The defeat of the Spanish in the Spanish American war in 1898 provided the Panamanian independence movement a new ally–the United States.

With backing by Americans, the Panamanians declared their independence. The US Navy gunboat USS Nashville was dispatched to local waters where Colombian soldiers had landed to cross the isthmus and crush the rebellion. US Marines and the Panamanian Railroad put a stop to the campaign to take Panama City by rail. The US recognized the Republic of Panama three weeks later.

"A Man, A Plan, A Canal, Panama"
Fifty-one miles long, with about $3.5 billion in bases and infrastructure, the Panama Canal links the Atlantic and Pacific oceans. It remains a world engineering marvel even today. American ingenuity completed what the French could not: the world’s longest shortcut. For the rest of the 20-Century, the Canal Zone was a US possession–a key military route with large US Army and Air Force bases. In fact, children born in the Canal Zone are US citizens–the only possession with that status.

Panama adopted American models for law, property ownership, banking and commerce. The US gifted the Canal Zone to Panama in 1999.

Panama City

Foreigners in Panama enjoy the same property ownership rights as Panamanian citizens. Unlike Costa Rica and Belize, you own title to land in Panama, just like in the US and Canada. Costa Rica and Belize only offer a land lease.

Buying a home is the same process as purchasing property in North America. At Playa Dorado, you are buying a new construction home from the builder. It’s the same series of steps and the contract, closing and mortgage process is very similar.

Playa Dorada homes have a two-year warranty that covers xxx. The community has standards for maintaining your property so that homes retain their property values. In addition, there is a small fee for the Pool Club.

Panama recognizes three different types of property ownership: titled, rights of possession and concessions. Playa Dorada features titled property ownership just like in the US and Canada. More rural areas of Panama have rights of possession and concession rights, which has more risk.

Panama City