Cheap real estate, a low cost of living, fabulous scenery and
NO HURRICANES put
this stable Central American country at the top of the list for
Americans on a fixed income.
Panama is one of
the best places in the world for retirees today, combining a low
cost of living, near-perfect weather and one of the world's best
discount programs for retirees, with up to 50% off everything
from public transport to movies, mortgage rates, doctor's
visits, electricity, restaurants and airfares and, we repeat,
NO HURRICANES!
When you compare Panama with its neighbors, you'll see that
it has more amenities than traditional retirement spots such as
Mexico and Costa Rica, with lower costs and crime rates.
In Panama, you'll encounter less red tape and less interference
from local authorities.
In Panama you can get bank financing for your
Real Estate investments, unlike most other countries in Central
America, including Costa Rica.
To encourage long-term foreign investment, Panama requires no
special authorizations, permits or prior registration for foreign
investors. The Investment Stability Law, passed in 1998, protects
foreign investors from any change in tax, customs, municipal and
labor rules for a period of 10 years after an investment is registered.
Major companies doing business in Panama include Federal Express,
DHL, Sears, Price Costco, BellSouth, Kansas City Southern Railways,
Continental and American Airlines, Warranty Company of the Americas
and Hutchison Whampoa. Plus, you'll find just about every American
franchise you can imagine on the streets of Panama City.
And there are other incentives for foreigners to spend time
here, invest here … or retire here.
| For example:
|
Newcomers who buy or build a new house won't owe
any property taxes for 20 years.
Residents pay no taxes on foreign-earned
income.
Tourism investments have 20-year exemptions from import
duties, fees for construction materials and equipment, and
income, real estate and other taxes.
The U.S. dollar is legal tender in Panama, which insulates
its economy from global shocks.
During the Asian monetary crisis of 1998, Panama became
one of the healthiest economies in Latin America.
Panama offers one of the World's Best Jurisdiction
for Offshore Asset Protection and Banking. Which means that
if you're looking for privacy and tax advantages, this is
the place to consider for retirement or investment opportunities.
Panama is just beginning its boom, exactly where
Costa Rica was ten years ago. Now is the time to take advantage
and maximize this opportunity.
(more) |
