Take everything that you read with a grain of salt and be sure to look at every angle when making a decision in life, especially one that relates to permanent relocation. Moving abroad is not for everyone, and if you are comfortable where you are, then stay there. If you are open minded, willing to take on new experiences and face new challenges, then Panama could be the paradise filled with opportunity that you have been searching for. A life away from home can relieve you of a lot of stress and worry, and can be a change that you will embrace and be glad that you did.
With the economy the way it is, and it becoming increasingly harder to stretch a dollar, it is becoming impossible to afford some of the luxuries and opportunities that you have become accustomed to. This is why so many people are thinking outside of the box, researching living overseas and finding places where life’s little luxuries are a lot more affordable. In many ways Panama is leading the way for these people, let’s take a look at why.
Find Out What You Are In For
Panama is hard to define. It is a small, unique and very different country that connects North and South America. It has a very different climate, culture and atmosphere than many other places in the world, yet offers so much for retirees and expatriates. There are many places to consider when choosing to live overseas and move abroad. Costa Rica leads the way in many ways, but the Pensionada Visa Programme offered in Panama is incredibly attractive.
Now, one suggestion you should keep in mind is to take a vacation or a holiday to any place that you are considering moving to. Before making a final decision on any location, especially Panama, you should visit, find out the facts and see if it suits your lifestyle before uprooting your entire life and your family.
Once you visit Panama there are a few things that you will definitely notice. Property values are incredibly low and you will be able to afford a home on acres of property that would usually cost you an absolute fortune in other places. This makes that 3 bedroom, 2 bathroom home, that is full of gardens and beauty, a reality that is not achievable in other parts of the world. A lot of steps have been taken to ease the process for expatriates and retirees heading to Panama, but that doesn’t mean it is a walk in the park.
Dealing with a new government, new procedures, a new language and new bureaucracies will always leave you jumping some hurdles, but that is part of the territory. However once you fight through it, the benefits are endless and sometimes mind-blowing.
Cost Of Living Like No Other
The cost of living is remarkable, cars are less expensive, insurance is cheaper, gas prices are lower, clothing is inexpensive and food is high quality and cheap. In terms of household expenses it is relatively normal for an expatriate to pay $30 for all utilities including water, gas and electricity. With food, internet, telephone and a few extra expenses it is relatively easy to live on $150-$200 a month. What better way can you imagine to start living debt free and stress free?
Money aside, Panama is stunningly beautiful. Anywhere you choose to live you will be within just a few hours drive to the Pacific Ocean or the Caribbean Sea. And remember that this isn’t your usual drive through the city, the nature that surrounds you and the wildlife you see on the scenic drives will amaze you. If that isn’t enough, just imagine the year round weather of approximately 80 degrees.
The Pension Program Benefits In Panama
The benefits of living in Panama are aplenty, the weather is immaculate, financially it is easier and the atmosphere and environment are no less than breathtaking. Panama is referred to as a “Paradise for Wildlife”. As if everything mentioned already was not enough, here is a look at some of the benefits offered in the Panama Visa Pension Program;
As a pensioner earning or bringing in a minimum of $500 a month you can receive benefits such as;
-50% discounts on ticket prices for events, concerts, sporting events and movies.
-30% discounts for transportation including boats, trains and city buses.
-50% discounts on weekdays for hotels and 30% discounts on weekends.
-35% discounts on airline tickets leaving the country to most international destinations.
-25% discounts on sit down restaurant meals and 15% discounts on fast food.
-15% discounts in hospitals and 10% off of prescription medicine, 20% off doctors fees, 15% of dental fees and 15% of optometrist fees
-50% of the price of a Panama passport
-15% off of your monthly electricity bill, 25% off the monthly telephone bill and 25% off of the water bill.
-And a Pensionado can purchase a new car every two years without paying import tax and can bring in up to $10,000 worth of personal goods without paying the duty.
As you can see the benefits are unrivaled by many other parts of the world, which make it incredibly easy to stretch your dollar by moving abroad to Panama. Everything is there that you need and it is a decision that most people will never regret. With that being said, make sure you do your research, plan in advance and prepare yourself for the change that you will be implementing into your life.
Relocation is not for everybody, but you have to admit it is wonderful just knowing that the opportunity is there. The next time you get hit with a monthly gas or electricity bill upwards of a hundred dollars, or have to pay ridiculous car insurance costs, consider Panama and the excitement and luxury that may await you. More money does not necessarily mean less stress, ask anyone in the know.