A View for My Panama Retirement

For all of those who are interested in retirement in Panama, I came up with a good question for you.

Take a look at this photo of mine. Beach front. Mountains in the background. A view of the sea. The sun shimmers on the water. You can almost hear the water which gently laps against the white sand. The palm trees offer you their calm shade from the hot sun. You hear a few of the tropical birds singing. You watch the sun rise and the sun set on a daily basis.

Perhaps you own one clock or watch, but you rarely stare at it. You shop at the local markets just down the road, food is fresh, organic, tastes much better than the meals you ate in your previous life in that cold northern city. And somewhat cheaper too.

You might just own an old car. It doesn't matter. It gets you over the rough roads, from point A to point B. To the beaches, to town, to your friends, to your local bar, to Panama City when you need to hear some roaring and other such noise, visit the restaurants and bars, meet people, walk around the old city.

I never said I wanted a condo for my retirement in Panama. I don't want to be stuck in some skyscraper. Am aiming for simplicity. I wanted a beach front property in Panama.

Okay, so like I said. Take a look at the picture. Now tell me how long it will take you to get bored of this scene?

If I actually retire here. This is my Paradise for my retirement in Panama. Will not get bored. What about you?

Retirement on the Beach in Panama

You must wonder what I do on a day to day basis during my retirement in Panama. As you know I’ve been looking for a small beach house, maybe one or two bedrooms on a nice beach. Do I have fun in Panama apart from beach house hunting. You can bet I do.

Besides improving my Spanish, meeting the friendly people of Panama, dining out and enjoying the cheap beer, my social life which includes eating in some great restaurants and sometime visiting some of the nightclubs of Panama where everyone is eating, drinking, laughing and having fun. It’s becoming a habit, to have fun. I only wish I could have retired here earlier. Besides this, I like to spend a lot of time on the beach.

One of my favourite beaches is the beach at Santa Clara, not far from Panama – about an hour and half drive away. I go here with my Panamanian girlfriend pretty much on the regular basis. There are miles and miles of white hot sand, shimmering blue water and hardly any people. Not too crowded, these are my favourite beaches to go to. The sunsets are magnificent and it’s excellent for swimming. The sun’s pounding down hot. I have my sunscreen, oh and I gotta tell you this, I actually have a Panama hat to protect the old head. Yeah, I bought one for a great price down here. I figured I ought to have one since I became retired and reborn as Panama Joe.

Spending a day at the Santa Clara beach is totally relaxing. We rent a little cabana also known as a palapa for three dollars for the day with hammocks included. There’s nothing like snoozing in a hammock or reading, the noise of the surf in the background. We swim, walk, snooze and buy a nice meal of grilled corvine and patacones which go down nicely with a cold beer. Sometimes, we eat a meal of fresh fish and fried yucca. It’s whatever we please. You can walk for miles on this beach and we do. Picking up the odd shell we might find here and there.

They’re building real estate here, beach front properties and condos around Santa Clara and you can’t blame people for wanting to purchase their own retirement property here. You’ve got the beach and then one is so close to Panama city if you are hankering for the fast life in the city and lots of people.

I’m looking for a small house on the beach in Panama. I’m still looking but don’t feel the rush. Out here on the beach at Santa Clara in my hammock, there’s no rush to do anything. The sun’s setting, a brilliant pink purple red sky over the ocean, am thinking, retirement in Panama, what could be better? If you are thinking of retiring in Panama and you haven't even been here for a vacation yet, you'd better get packing your bags, pronto! You won't wanna leave.

Benefits to Retiring in Panama

Many North Americans now have another place to retire. Besides Florida and New Mexico, Panama Central America is now one of the best places to retire. So what is the big deal with Panama?

Economy in Panama:

The North American economy has taken a big downturn and costs of living have risen drastically over the last decade. Not so in Panama. The country’s economy has proven rock stable and with more ships passing through the Panama Canal, foreign trade has never been better. Further, Panama has established a solid infrastructure in its backing and agriculture industries.

The American dollar is widely used all over the country. One does not have to worry about currency conversions and other charges.

Climate in Panama:

The climate of Panama is exceptionally beautiful. All year warm weather along the sea and nice cool air high in the mountains. Of course, there is no snow in this tropical country. For both young and old, Panama has a little of everything.

People in Panama:

The people in Panamaare very friendly and accustomed to foreigners. Having had an American presence in the country for many years has also resulted in the availability of many North American products.

Cost of Living in Panama:

The cost of living in Panama is much lower than most countries in Europe or America. The quality of life is high and the government offers many social services for retirees.

For the retiree in Panama, one can get discounts on shopping, air flights, prescription drugs, dental visits, electric bills, telephone and water bills. In addition, one can bring in all the household goods free of tax and import a new car every 2 years- as long as this is for private use.

Most of Panama is well developed and basic services like hospitals, banking, shopping and postal services can be found in all towns. For those who are interested in buying real estate in Panama, there are some rules and regulations that need to be followed. It is best to get a local lawyer before investing in any property in Panama. While it is not difficult to buy property, one should be well read and knowledgeable about the basics of real estate laws.

The qualifications for a retiree to come to Panama include that he or she be in relatively good health, have a valid passport and have an income of at least $1,000 US per month.

Foreigners who buy property in Panama enjoy the same rights and protection as native Panamanians. Panama has no income tax on whatever you bring from outside the country.

The best advice to all people who want to retire in Panama is to go and see the country first. Take a trip and visit the many towns and cities. Ask questions, go slow and be informed. Panama, unlike many other South American countries has a stable government, and is an inexpensive country and friendly. The best advice can be obtained from retires who already live in Panama. You will see only happy faces!

Retirement Properties in Panama

Lately, I've been looking at properties in Panama. I’m just sitting here on my balcony, reading the paper – La Prensa, practicing my Spanish, drinking my coffee in Panama City, enjoying my retirement in Panama. It’s a Sunday morning, early, about 8:30. It rained for about five minutes earlier this morning but the day is warming up to it’s usual humid, beaming down on your head heat. I like that, much better. Rather have the heat and humidity than the freezing cold wind in your face and trudging over the snow as it squeaks underfoot. Brrrr!

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.