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Updated by matapitti on Jan 31, 2019
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Reasons to Work and Retire in Panama

Panama is more than a fun tourist destination. It has become a popular place for people around the world to relocate to pursue or advance in their career or start a business. Panama has a great infrastructure that lures many retirees to spend their Golden Years there. If you’ve tossed out Panama as a small, unstable, unexciting South American country that would be nice to visit sometime, here are some reasons you’re greatly mistaken and Panama is a great place to work and retire in:

1

Low Cost of Living

Low Cost of Living

Unlike other first-world countries, things cost significantly less in Panama, including housing. While housing is more affordable, it is by no means of poor quality nor are nice, affordable homes located in dangerous, ugly parts of town. In fact, a large seaside or mountain villa can be had for often less than a modest home in the US. The low cost of living is perfect for retirees and seniors who live on fixed income and young professionals who are just starting their careers.

There are many reasons to work and retire in Panama. If you’re considering making the move, contact a Panamanian law firm like Mata & Pitti to help you walk through the process. Contact us today so you can be on your way to the career or retirement you’ve always dreamed of in Panama.

2

Politically Stable

Politically Stable

Panama is among one of the safest countries in Latin America thanks to its open and stable political system. Being one of the top international banking and investment hubs in the world, its banking system is strong and secure.

3

Modern Infrastructure

Modern Infrastructure

Panama has internet, television and phone lines and systems that are just as reliable and fast as any in the US. There are modern, paved, well-maintained roads and reliable mass transportation systems making it easy for workers and retirees to easily move throughout the country.

4

Top-Notch, Affordable Healthcare

Top-Notch, Affordable Healthcare

Only in Panama can these two words be used together. Medical insurance in Panama can be had for less than $100/month and is more generous than many US counterparts. Panama City is home to the only medical center in the region associated with John Hopkins Hospital in the US. Additionally, most doctors and hospital staff speak fluent English.

5

A Booming Economy

A Booming Economy

he current Panamanian government has significantly clamped down on crime and corruption and have assembled numerous initiatives to attract foreign investments, multi-national corporations, and start-ups. Panama is a premier South American trade hub that has a hard-working, college-educated workforce, colleges and universities and an increasing number of medical and high-tech sectors. Additionally, the banking system is one of the largest and best in the world and the US dollar is the country’s currency.

6

Easy Path toward Citizenship

Easy Path toward Citizenship

Panama is very welcoming to expats and the government has a variety of resources to make the path to Panamanian citizenship as easy as possible. Panama has a variety of work visa, accelerated residency, and pension and retirement programs that have minimal financial requirements and numerous perks.

7

Retirement Perks

Retirement Perks

For those looking to retire in Panama, the government will give each retiree additional discounts and vouchers to be used for transportation, food, utilities, rent/mortgage assistance, prescriptions, airfare and admission to events and attractions. Additionally, there are no taxes levied on overseas income.

8

Job Opportunities

Job Opportunities

Panama is one of the best places to start a business and, in addition to an affordable, educated workforce, Panama has highly favorable regulations and taxes on corporations. Even if one doesn’t start a business, the business-friendly environment attracts numerous local start-ups and large, international corporations to open up offices in Panama, boosting the need for employees.

9

No Language Barrier

No Language Barrier

Many Panamanians, particularly those in the larger cities speak fluent English so one doesn’t have to learn Spanish to get around or to do business.