Living In Panama - Is It Safe Or A Scam? - Reviews
Panama has been chosen as one of the top five retirement destinations in the world. Panama has something to offer everyone. Whether you are drawn to a variety of choices for nightlife, shopping, and dining in Panama City or you want to escape to the secluded, unspoiled beaches, Panama offers the best of both worlds.
One of the many advantages most concerning with adults when thinking of retiring or living in Panama is health care services. Panama has some of the most modern health care facilities in all of Latin America. Many Panamanian doctors have studied in the USA, Canada, and Europe and generally speak English. The USA's number one ranked hospital, Johns Hopkins Medical Center, is affiliated with the new Punta Pacifica Hospital in Panama City. In addition, Panama also boasts Centro Medico Paitilla, which caters to the ex-Shaw of Iran. Hospital Nacional is an affiliate of the Family Hospital Group of Boston, Massachusetts. Many consider Hospital Santo Tomas the best public hospital in Latin America.
Another benefit to living or retiring in Panama is the property tax advantages. In 1990, Panama passed the 20-year property tax exemption law. The law was passed to encourage economic development and investment. The law freed buyers of new homes or condos from paying property tax for up to 20 years. Once the 20-year exemption ends, the following exemptions will apply to all new construction:
- Up to $100,000 value, 15 years exemption
- From $100,000 to $250,000, 10 years exemption
- Value above $250,000, 5 years exemption
I have included a brief video that describes many other advantages of living or retiring in Panama.
If you're interested in more information and opportunities about living or retiring in Panama, please contact me and I'll put you in touch with one of Panama's premier authority for real estate and investing.
Yours in leadership and success,