Currently, I’m renting an apartment in Panama, getting adjusted to life in Panama and perfecting my Spanish. I am searching for a property in Panama, but I’m looking around before I buy because I don’t want to make the wrong choice. I want to buy the right house or condo for me. I actually want beach front property, but that’s just my personal choice. There are real estate agents in Panama who are all leaping up to help me. Tomorrow, I am headed up to Bocas del Toro to look at properties there. There’s plenty of websites available about properties in Panama and if you have a look, you can see there are all prices ranges for property, varying locations all over the country, both beachfront and mountain and city locations. The price ranges I’ve seen go from anywhere like as low as $70,000 and up. Much cheaper to retire in Panama than in the United States and there are deals to be had, for sure. I’ve got an appointment tomorrow with one who is going to show me some of the properties in Panama that are available for me to my exact specifications.
So far, I’ve looked at properties in Panama in Playa Serena, Vista Mar, Santa Clara and Coronado and Tucan Country Club on a real estate tour of Panama. I decided to take to get a good overview of what’s available. I want a beachfront property in Panama, nothing too big, just two bedrooms – that’s all I need. An extra bedroom for an office space and perhaps some of my guests. I could get a three bedroom place, depending on whether I think my kids are going to come down often enough. I’ve already got friends emailing me telling me they are coming down to visit when I get my place.
There are lots of benefits added to retire in Panama and the government of Panama made it pretty easy to do so with the Panama Retired or Pensioner visa – the Visa Pensionado. The Visa Pensionade allows foreigners to get legal residency in Panama if they have a pension or are retired. The minimum age is 18. You have to show that you earn at least $500 US per month with your retirement income and that this income last for life. The complete rules for immigration to Panama for retirees are pretty standard and simple to follow. Sometimes you can get a real estate company in Panama or a Panamanian lawyer to handle all this for you.
The Panama government also allows all kinds of discounts and for retirees in Panama which is an added bonus. I haven’t heard of any other country in the world that makes it this easy for you to retire in their country.
Here’s a list of the discounts you can get if you are a retired pensioner in Panama, age 55 or over:
- 50% off entrance to recreation and entertainment activities, such as theaters, movies, sports and other public productions
- Public transportation
- 25% discount off the price of airfares
- Discounts at hotels and motels
- 25% discount at restaurants
- 15% discount at fast food restaurants
- 20% discount for consultation fees for hospitals and private clinics
- 15% discount for dental services
- 15% discount for optometrists
- 20% discount for technical and professional services
- 50% discount for passports
- 25% discount for electricity
- 25% discount for phone services
- 25% discount for the water bill
So, as far as my decision to retire in Panama goes, I’m one happy guy. The prices for property in Panama are very reasonable, the people are friendly, the weather is great. I can’t complain. It’s safe here and the music is drifting out from somewhere. The sun is starting to beam down hot. Living in Panama is a dream come true.
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