Why Panama?

Again, we're at a loss as to where to start. In this case, perhaps the best way to start is to just jump in with a list.

• For openers, General Manuel Noriega, with his bad-news government, has been out of power for over a decade now. Panama is a democratic nation. Its political stability combined with a healthy, growing economy make the country as peaceful and abundant as the nature that embraces Red Frog


• All foreign and national investors are guaranteed equal rights by law


• Panama is beautiful. This extraordinarily beautiful country offers a wide variety of residential venues including mountain, beach and city communities, and will please pleasure seekers of all tastes


• Panama is modern. The modern capital city, Panama City, with high-speed Internet, first rate hotels and restaurants and shopping, is almost on a par with the US. Panama has a reliable communications and road infrastructure due in part to the 90-year American presence in Panama


• Panama is incredibly affordable. The cost of living is a fraction of the United States


• Panama's currency is the US dollar


• Panama has a near perfect climate-Yearly average temperature: 27 Centigrade or 82 grades Fahrenheit. Rainy seasons from May to August and from November to January. Dry seasons from February to April and September and October. Bocas is surrounded by lush green primary forest. The beaches are long with white sand and the water is very clear and blue, so you can see the reef while you surf.


• Panama is retiree-friendly. Panama has the best retiree incentive program in the world.


• Panama is safe.


• Panama has medical facilities on par with the United States


• Panama is close to the United States with direct flights to Panama from 7 major US cities.


• Retirement visa requirements are minimal.


• Foreigners can buy and own property in Panama enjoying the same rights and protections as Panamanians


• Panama City is one of Central America's most modern cities. Luxury hotels, fine restaurants, and a very cosmopolitan nightlife Panama City is the banking center for Central and South America, including the Caribbean.


• Panama has a tropical climate that is basically free from natural disasters. There are no hurricanes or tornadoes and it is not plagued by earthquakes like many of its central american neighbors, making diving to look for collectables from Spanish Galleons that were laden with treasure a delightfully safe experience.

#1 place to retire in the world

1st world infrastructure, 3rd world prices

If you're looking for privacy, sanctuary, and tranquility from the madness that is raging elsewhere in the world, you could find no better. Panama is one of the world's premier "safe havens." In addition, property in Panama is extremely affordable.

Consider this fair warning: It's not too late for you to get in on the real estate deals in Panama. The prices are remarkably low, but they won't be this way forever.

Beautiful, Temperate and No Hurricanes

But as far is beauty is concerned, you will not find a more beautiful land. The variety is astounding. This is indeed paradise.

Tax Advantages

As a US citizen and a resident of Panama you are entitled to earn as much as $70,000.00 annually without paying taxes to the American government. (A check with your accountant will be in order to verify this and determine how this law affects you.)

Also, any property in Panama with a registered value of $20,000 is not subject to property tax. Owners of property of a higher value are liable for property taxes as follows: $20,000 to $50,000, 1.75%; 50,000 to 75,000, 1.95%; more than 75,000, 2.1%. Not bad. But even better than all this is that when you buy in a designated "tourist development area" there is no property tax for as long as 15 years.

Retirement Programs

Qualifying for the Pensionado visa is relatively simple. You must:

Once you qualify, you get significant discounts on just about everything in Panama, from doctor's visits to transportation, restaurant tabs to utility bills.

Some benefits of being a retiree in Panama:

History of Panama

Panama begins in the mists of pre-Columbian times among the Kuna Indians of San Blas. Here, on a shining archipelago where there are more islands than there are days in a year, the Kunas still make their colorful Molas. The first signs of human settlement in Panama are thought to be about 10,000 years old. Six different Native American cultures can be identified today: The three largest are the Embera Indians of the Darien jungle area, the Kuna of the San Blas Islands, and the Guaymi Indians of the western provinces of Chiriqui and Bocas del Toro.

Spaniard Rodrigo de Bastidas sailed along the Caribbean coast of Panama in 1501, and Columbus arrived in 1502. Despite dropping anchor in what is now the mouth of the Panama Canal on the Caribbean side, he never realized how close he was to the Pacific Ocean. In 1513, Juan de Balboa landed in the area, hiked across the Darien jungle and became the first European to see the Pacific.

The Spanish used Panama as the tran-shipment point for treasure and goods being sent between the West Coast of South America and Spain. As a result, buccaneers desiring Spanish loot set their sights on the area. By the 1700s, pirate attacks made it too dangerous to continue using the route, and ships started sailing around Cape Horn. Panama went into a decline.

In 1821, Panama declared its independence from Spain and joined with Venezuela, Ecuador and Colombia to form Gran Colombia. When that union split up, Panama remained a part of neighboring Colombia. The California gold rush of the mid 1800s brought unprecedented traffic across the Panamanian isthmus. Once on the Pacific side, prospectors would take boats up the coast to the goldfields (a far easier journey than crossing the U.S. by land).

In the 1880s, a French company began constructing a canal across the isthmus, but after losing 22,000 workers to disease and seeing investors go bankrupt, it sold the rights to the U.S. The Colombian government refused the U.S. permission to build, however, which set the stage for Panama's split from Colombia. In 1903, revolutionaries on the isthmus - backed by the U.S. - declared Panama an independent country and defeated Colombia's attempts to retake the territory. These actions cleared the way for the U.S. construction of the canal, which was completed in 1914.

The U.S. presence in Panama continued after the completion of the canal. In addition to stationing troops in the country to protect the waterway, the U.S. frequently intervened to control political events there. On 31 December 1999, the U.S. relinquished control of the canal to Panama.

On May 2, 1999, Mireya Moscoso, the widow of former President Arnulfo Arias Madrid, defeated PRD candidate Martin Torrijos, son of the late dictator. The elections were considered free and fair. Moscoso took office on September 1, 1999.

During her administration, Moscoso has attempted to strengthen social programs, especially for child and youth development, protection, and general welfare. Education programs have also been highlighted. More recently, Moscoso was focused on bilateral and multilateral free trade initiatives with the hemisphere. Moscoso's administration successfully handled the Panama Canal transfer and has been effective in the administration of the Canal.

Panama's counternarcotics cooperation has been excellent, and the Panamanian Government has expanded money-laundering legislation and concluded with the U.S. a Counternarcotics Maritime Agreement and a Stolen Vehicles Agreement. In the economic investment arena, the Panamanian Government has been very successful in the enforcement of intellectual property rights and has concluded with the U.S. a very important Bilateral Investment Treaty Amendment and an agreement with the Overseas Private Investment Corporation (OPIC). The Moscoso administration has been very supportive of the United States in combating international terrorism.