How To Retire In Panama
Thinking of how to retire in Panama, one of the loveliest places in the world, is something many people may be doing. Panama has a system of hospitalization that is in line with that of the United States. The money used in this lovely country is the U.S. dollar, and Panama is far cheaper to make a home in than the U.S.
- To retire in Panama, your personal history must be clear of felonies. Your record must be clear. Conviction of criminal activity is a no go.
- First, take a vacation. If you have little or no knowledge of Panama, it may be necessary to take a little scouting trip. Look over the countryside and see what areas are available.
- Use a good realtor. A reputable agent will know where the best places to buy are, and a few hidden treasures, too. You might enjoy a beautiful fixer-upper to retire in.
- Build a house. Some prior knowledge that can help you retire in Panama is to consider building a vacation home that will eventually become a permanent one. Property taxes are non-existent if the home is your only abode.
- Gather the documents needed. Before settling down to retire in Panama, it would be wise to get a passport and a visa, although there is the option of leaving and coming back every 90 days.
- You must have an income. Retiring in Panama requires visible money. In this beautiful place, where expenses are cut in half, proof of income is required before settling into retirement bliss. But do not allow that to frighten you; only a few hundred dollars is required.
- Arrange for healthcare. Once outside of the U.S., another healthcare plan will be necessary. There is no Medicare in Panama; do not forget to switch to another health system.
- Get legal advice. For any major endeavor, get legal advice. Do not take chances.
Retiring in Panama is made simple by the flourishing economy. The dollar is king and it is exceptionally easy to get furnishing in the country with very little to no cost at all. There are many large conglomerates in the country and leisure facilities are readily available. Senior discounts abound, making retirement in Panama all the more enticing.