| Panama: Much More Than Palm Trees Swaying in the Tropical Breeze |
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RETIREMENT IN PANAMA
International Living ranks Panama as #1 in the world for retirement living, a ranking based on safety, beauty and variety of venues, cost of living, near perfect climate, political stability and infrastructure. Modern Maturity magazine ranked one region of Panama as the best place for retirement in the Western Hemisphere. Rated as one of the top retirement destinations, the Panamanian government offers the best retirement incentive program in the world. Confronted with the spiraling cost of living in the U.S. and Canada, people from all walks of life and all ages – including baby boomers and seniors – are searching for an affordable place to live or retire without sacrificing their current lifestyles. Panama, one of Latin America’s best-kept secrets, just might be the country many of these people are seeking. Located only two and one-half hours by air from Florida, Panama has everything for potential retirees and residents. Year-round spring-like weather in the mountains and tropical weather in the rest of the country; political stability with NO army; friendly people; the U.S. currency; a low cost of living with the most generous discounts in Latin America for foreign retirees; a first-world modern banking system; a first-rate capital city; inexpensive medical care; excellent transportation and communication systems; affordable housing opportunities; excellent U.S. style shopping and goods; the best incentive-filled retirement program in Latin America, plus a government that makes relocating as easy as possible for foreigners – all this combined makes Panama one of the world’s most desirable expatriate havens. The ARRP rated Boquete Panama the fourth best retirement place in the world. The Pensionado Visa Program of the Panamanian government actually encourages retirees to relocate to Panama and to qualify for a retiree visa, you must apply through the Ministry of Immigration. In most cases this is a simple process and the major requirements are a pension or other proven monthly retirement income of $500 for a single person or $600, certificate of good health, a valid passport and a police report. You must apply while you are in Panama through a lawyer but once you have obtained the visa or ‘cedula’ it is permanent and never has to be renewed. For most people who have the pension income qualifications, the process takes less than three months from the time you apply. You will need a proof of income statement (translated in to Spanish), a valid passport, a certificate of good health (HIV free) and a police report fro your current jurisdiction. You must have your income statement certified by the Panamanian Consulate in your home country, so it is important to complete the process before you come to Panama. You should also note that all your documentation must be current or not more than six months old. Translation of the income statement in to Spanish can be done in Panama and is very inexpensive (under $100). The Retiree Benefits Program Consists Of:
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If you’ve followed any of the major survey agencies around the world that rate places for retirement, Panama has been on the top of the list of many, and for a few years running. So, if you’re looking for a place outside the U.S. borders to retire, Panama one should seriously consider Panama because it has so much going for it.
