Living in Panama

In Panama, you will never feel too far from home. When you stay for extended periods of time in another country, you want to feel away from it all, but not totally. Its important to have the familiar services and comforts of home within easy reach- no other country in the world fits that bill better than Panama. Why? Because Panama more than any other country in the region has a modern American-style infrastructure.

Panama is Safe

Panama has the highest rating for tourist safety and a low crime rate in general compared to other countries in the region. In Panama City, petty street crimes that hinder tourists in other countries are uncommon. Panama City — like every big city — has some neighborhoods to avoid, but in general you can go about Panama City without worrying. This is true for most of the country with a few exceptions.

An American-Style Infrastructure- By-product of an Historical Relationship

One of the best things about living in Panama is the American-style infrastructure. 50,000 Americans made their home in Panama until 1999 when Panama took control of the Panama Canal region and they left their mark. Panama has a distinct, delightful Latin-Caribbean culture, but you will feel at home because American influences abound.

A Foreign Investor and Retiree-Friendly Government

Panama has the best retiree benefits plan in the world and also an investor-friendly government. Doing business in Panama is a pleasure because many in Panama's entrepreneurial class are US-educated starting with President Martin Torrijos himself and his top officials

 
Property Tax Exemption

 If you are used to paying thousands of  dollars  in property taxes every year, you will be pleasantly surprised to find that there is a 15-20 year exemption from property taxes on newly constructed homes. There are still property taxes on the value of the land your home is built on, but the taxes only begin on land valued over $30,000, and the amounts are modest -- roughly 1% annually of the value of the land over $30,000. 

The Panamanian People are "Globalized", Peaceful, Friendly and Fun-Loving

Another reason why Panama is a great place to live is because of the Panamanian people -they are the friendliest people in the world. They have a long history of living and working with foreigners and they actually enjoy foreigners. There's a saying that Panama was "born globalized". Historically a crossroads, Panama is home to immigrants the world over. The different communities comprised of different nationalities and races have get along amicably Like most Latin American countries most common are "mestizos" or persons who are a combination of European and Indian origin. But there is a large black population, descendents of people that originally came to help with the construction of the Canal. European, American, Chinese, Jewish, Hindu and Arabic communities also have a strong presence. And in Panama all these different peoples know how to get along.

You will find that Panamananians are friendly and fun loving. Of special note is their predilection for beauty and elegance. This sense of beauty is visible in many ways, from the delicacy of their Indian handicrafts, to their beautifully groomed women and in the Panama City’s many well appointed neighborhoods.

Panama is Close

Located in Central America,Panama is easy to get to. It is just 4-5 hours by plane from the States, there are non-stop daily flights to Miami, Atlanta, Houston, Dallas, Newark, Los Angeles, New York, Washington D.C., Orlando and Fort Lauderdale served by Delta, Continental, American,Copa and Spirit Airlines. From Europe, KLM has 3 directly weekly flights. From Canada, AirTransat has a weekly Charter flight out of Toronto.

The Dollar as the Currency: A Great Convenience

Panama has the US dollar as its currency, a great convenience. This makes daily life much more hassle free for visitors and foreign residents. No need to constantly figure out how much things cost. The dollar as currency is also major contributing factor to the fact that Panama has the lowest inflation rate and the most stable economy in Latin America.

Dependable Travel in Panama-Roads, Highways and Public Transportation

Travel within Panama is dependable and inexpensive. Taxis in Panama City are cheap and reliable. You can go just about anywhere for less than $5. The highway system and the feeder roads off the main highways are excellent. For $17 you can travel across the country on a luxury bus from Panama City to Chiriqui province in West Panama. If you are renting a car, the Interamerican highway that goes from the border of Costa Rica to Panama City is a four-lane highway most of the way.

First Class Health Services and Medical care

More than any place in Latin America, you can readily find English speaking trained doctors and dentists. There are several hospitals with the latest in diagnostic testing and services. Prescription and over, the, counter medication is available at low prices. Full coverage health insurance policies are reasonably priced.

Another big health plus is that you can drink the tap water, a rarity in Latin America. Sanitation is good... the "Montezumas revenge" illnesses that tourists are prone to in other countries of Latin America are almost unheard of.

Shopping

From the American point of view, Panama has the best shopping in Latin America. Starting with the supermarkets- Riba Smith, El Rey and Super 99 stock just about everything you would find in an American supermarket but the prices are lower. There are 4 Price Costcos, three in Panama City and one in David in Chiriqui. There are three major shopping malls: Multiplaza in Punta Pacifica, Albrook Mall and Multicentro on Balboa Ave, as well as good regional malls in David. There are large electronic, appliance, computer and furniture stores with familiar brands and prices the same or better than the USA.

High Speed Internet and Services

Panama is a so-called developing country but high speed internet access is better than in the USA. Phone service and other basic services are also reliable - unusual for Latin America.

Great Restaurants

Foreign residents really enjoy the restaurant scene. As an international crossroads, Panama City has many fine, reasonably priced restaurants with a wide variety of cuisines. It’s fun just trying to decide where you are going to dine. If you’re homesick, American restaurants and fast food joints are everywhere including TGIF, Bennigans, Wendys, Pizza Hut, KFC, Subway, McDonalds, Burger King etc.

 
Banking Conveniences and a Strong Financial Services Sector

ATM machines providing access to your USA bank account are located throughout Panama City and in many locations outside Panama City. Panama has a sophisticated banking sector compromised in ninety different banks, including Scotia Bank of Canada. If you are looking for offshore activities there are specialists who can provide personal or corporate services with strong financial privacy laws and no taxes on offshore profits.

The Panamanian government actually encourages retirees to retire here with a program with many benefits and discounts. To qualify for a retiree visa the only requirements are a proven monthly income of $600, a health certificate, and a police report.

Some of the benefits for retirees:

    * 50% off entertainment including movies, concerts, theater etc. (a regular movie ticket costs $4 - the             retiree price is $2.)
    * 25% off restaurants
    * 50% off hotel accomodations Monday, Thursday
    * 30% off bus, boat and train fares
    * 25% off domestic and international airline tickets
    * 10% off prescription medicines (much cheaper than US prices to begin with)
    * 15% off dental and eye exams
    * 50% off closing costs for home loans

Property Rights 

Foreigners who purchase property in Panama enjoy all the same rights as Panamanians
Unlike other countries, in Panama foreigners who buy property enjoy all the same rights and protections as Panamanians.

Panama is the best place for nature travel and ecotourism today

Panama has the easiest-to-get-to exotic nature in the world. It's position as a narrow land bridge connecting two continents endowed it with some of the worlds' most pristine and bio-diverse rainforests in national parks covering 5 million acres. There is a local saying: "In other countries you have 20 tourists looking at one bird, while in Panama you have one tourist looking at 20 birds." Canopy tours, jungle and mountain trekking, rappelling, birding ,sea kayaking and surfing are world-class.

A key indicator of its bio-diversity: Panama has 944 recorded bird species, more than the U.S. and Canada combined. Importantly, all that great nature is very accessible- some of the best locations are less than an hour from Panama City!

Panama has a wide selection of beaches and island venues and activities

If you love beach vacations but hate the crowds, Panama is the place for you. With two coasts and more than a thousand islands, there is much to choose from for beach vacations from full service resorts to exotic island retreats.

Panama, the affordable exotic destination

Normally this kind of pristine natural beauty comes at a very fancy price. Because Panama has just begun to promote itself as a tourist destination, its prices are still some of the best in exotic travel.

Panama is world-class for adventure

Panama has many choices for both the hard and soft adventure seeker. International experts rave about river running in Panama, including rafting and kayaking. This includes rivers where you can ride 20 sets of rapids in one afternoon. You can take an ocean-to-ocean hike across the Isthmus through dense jungle or live with ancient Indian tribes experiencing their culture. Canyoning, trekking, rapelling, surfing and kayaking are excellent.

Panama has world-class fishing, diving, snorkeling and sailing

One place in Panama, Pinas Bay, holds 170 world fishing records. There are six excellent diving areas: The Gulf of Chiriqui, Coiba National Marine Park, the Pearl Islands, Bocas del Toro archipelago, Portobello and for historical diving the Panama Canal.


Panama has no hurricanes or major destructive earthquakes

Panama is blessed by nature. It is the only country in Central America that is absolutely hurricane-free and has none of the destructive earthquakes that plague its Central American neighbors.