©istockphoto.com / SimonDannhauer
Government-sponsored incentives are drawing retirees to Panama.
From superior benefits for retirees and an assortment of visa options, to the captivating sights and real estate options available, there is much to see and even more to experience as a resident of Panama.
For retirees in particular, the benefits offered through Panama’s programs have crowned it as “one of the top retirement destinations in the world,” according to Stephanie Villarreal, president and Realtor for Your Panama Real Estate Connection. She notes that the government-sponsored “Jubilado” retirement program provides impressive discounts on a range of expenses, including dental/eye exams, medical consultations, restaurant bills, airline tickets and even car purchases. What is needed to qualify is an annuity/pension-like income of $1,000 USD per month. Having good, affordable medical services like, amongst others, the Johns Hopkins-affiliated hospital in Panama City is another added benefit, Villarreal says. New residents find themselves taking on the Panamanian lifestyle in no time at all.
The process of immigrating to Panama is relatively simple as well, Villarreal says, and with the help of experienced law professionals, the process is straightforward and easy.
Basilica of the Mother of God is prominent in Casco Viejo, where churches dating back hundreds of years blend with activities for those of all ages.
Photo ©istockphoto.com / rchphoto
“We work alongside attorneys to assist our clients with immigration and residency,” she adds. The Panama Friendly Nations Visa, for example, is also a popular special immigration program for citizens of selected countries who have professional or economic ties with Panama.
Those exploring their immigration options should also understand the differences in lifestyle of Panamanians, from “slower pace of life” to the fact that Spanish is the country’s main language. However, every difference also offers an opportunity to learn and experience the unique nuances of Panama. “Things in Panama move slower than in North America and Europe,” says Villarreal, “but with our team’s extensive knowledge and experience of how things work in Panama, we can assist our clients to adjust to life in the country.”
Adjusting to life in Panama can come easily with the help of the right brokerage team who will help guide potential buyers to their dream home or neighborhood. Villarreal says her team recommends that buyers should visit the country first to get a feel for what Panama is all about. “There are established ‘expat’ communities in Panama City, various communities at the beaches … there are many clubs offering get-togethers, bingo, Spanish courses and more.”
Add this to the plethora of good restaurants, cafes and bars amidst the cobblestone roads and churches of Casco Viejo, Panama City’s old quarter, and the amazing beaches and archipelagos, and there’s too much to fit into one trip. So, perhaps, make it a trip to last the rest of your life?
This article originally appeared in the Unique Homes Spring ’20: Elite edition.
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