| PANAMA'S RETIREMENT OR PRIVATE INCOME PACKAGE
Panama is beautiful. There are cool mountain areas like Boquete, to affordable beachfront condos like Bala Beach, and in between there is so much choice. And you can retire at 18…Panama’s pensionado program is not age based.
If you can prove a minimum income of $500 per month plus an additional $100 for each dependent you are accepted. Foreign residents of Panama, regardless of the type of visa they obtain, who are over the age of 55 years for a woman and 60 years for a man, are entitled to the retiree incentives listed below:
 50% off entertainment anywhere in the country (movies, theaters, concerts, sporting events),
50% off hotel stays, 50% reduction in closing costs for home loans,
25% off airline tickets, 25% off all restaurants, 25% discounts on utility bills,
20% off medical consultations,
15% off hospital bills (if no insurance applies), 15% off dental and eye exams, 15% off loans made in your name,
10% off prescription medicines,
Import duty exemption for household goods,
1% less on home mortgages for homes used for personal residence,
Tax exemption to import a new car every two years.
With real estate prices beginning to rise, you also have an opportunity to make a considerable return on your investment if you buy now.
Rental property is in high demand particularly in the highland areas, so even if you are not looking to retire for a while this is an opportunity to get into the market and earn a return on your investment in the meantime.
Panama:
Has a stable government and a growing economy,
Has a stable economy that has been based upon the U.S. Dollar since 1904,
Residents pay no tax on foreign earned income,
Foreigners can buy and own property in Panama with the same rights and protections as Panamanians citizens,
Retiree Incentive Program, the best in the world, is not necessarily age related and the benefits are considerable,
English is widely spoken,
Property tax exemptions apply to all new construction on a sliding scale according to value,
Panama has a reliable communications system,
The US presence in the country for many years has lead to a US style infrastructure with a number of familiar names and businesses,
Panama has a number of US standard health care facilities and services with many US trained English speaking doctors available,
Tourism investments have exemptions from import duties, construction materials and equipment, income, real estate taxes, etc.
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LA Times June 16th...
"Wealthy Latinos from Venezuela, Colombia,
Ecuador,and Bolivia seeking to protect their
assets from left-wing governments as well as
retirees from the US, Canada, and Europe
searching for a cheap place to retire, is
transforming Panama into a cultural melting
pot that reminds people of Miami 15 years ago." |
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