Found a good article about investing in Panama from The Panama Review. Below is an excerpt from the
article about retiree benefits in Panama. My comments are in brackets.
Some of the excellent retirement benefits are:
- Importation of all your personal and household goods up to US $10,000 free of taxes.
- Right to import a car every two years free of taxes
- 50% off closing costs for home loans.
- 25% off both international and domestic airline tickets.
- 50% off hotel accommodations Monday-Thursday
- 10% off prescription medicines (which are inexpensive to begin with)
- 15% off dental and eye exams. [Some places offer an even greater discount. I have seen a recent promotion where the discount is the person's age. So if you're 60, you get 60% off.]
- 30% off bus, boat and train fares.
- 25% off at Restaurants
- 15% off at Fast Food Restaurants
- 20% Doctor visits and Surgery [There are some local clinics that only charge a $5 consultation fee. Lower than many HMO co-pays.]
- 50% off entertainment including movies, concerts, theater everyday.
- In Panama, all banks (mandated by law) have special express lines for retirees.
- The greatest of all benefits for retiring in Panama is that you can hire a full time maid for less than $300 a month.
There are also tax advantages especially if you invest in the Panama hospitality and tourism industries. I'd be glad to help, if you need it!
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