Help for those looking to relocate or retire to Panama

Hi Kelly, My wife and I are both retired and live in Mission, BC. About an hour outside of Vancouver. We spend our winters in Tucson, Az where we own a park model trailer with an Arizona room.
We are getting a little tired of Arizona and are thinking about re-locating to Panama for a) Six or so months a year or b) Permanent relocation.
I lived and worked in Spain during the early seventies so have some idea of the "Manana" mentality- by reports Panama seems remarkably similar if a lot more advanced.
We are considering coming down for about ten days or two weeks sometime in November/December or March of next year to have a look around and decide if it is for us. Probably will come this year if we can. Seems the cost of living is in our favor for once.
Could you kindly suggest a good place to look for property near or by the Ocean? Can we get anything decent for around $100-$150,000?? Two bedroom Condo or house if possible.
Lastly, can you recommend a decent mid price hotel to stay during our visit that is not too far from the sights of Panama City?
It would seem driving there is a bit of an adventure- very similar to Spain. Is it best to rent a car or just use local taxis??
Your help would be gratefully appreciated.
Looking forward to hearing.
Sincerely, Graham & Wyn Wood.

Great message. My husband and I are less than 50 but aren't waiting for pensions to considering moving. We are coming to check it out for 6 months at minimum. We were there for 3 weeks in June.

We'd like to house sit or boat sit while we explore our options. First we'll start with some language immersion program. Can you recommend any of the above resources or give referrals?

Hi Kelly, thanks for your great infomation about Panama.

I am thinking to retire overthere too.

I am German living in the U.S. right now.I am single.

Can you tellme if I could live on a monthly budget from about 1100-1300 Dollar ? I would like to rent an apartment maybe 2 bedrooms. And maybe not too far from the ocean.

Do you have any advice where I should look for or should I do this when I am already in Panama.


Thank you so much for your time

Elvira

my email-adress-    [email protected]

Hi Kelly:  I am a senior looking for a country.  Panama has come up on my radar.  BUT need to connect with someone who has done it and will give an honest opinion.  Not what the realtor sends me...I would like to gather the good, the bad and if any the ugly.  Thank you so much.

Panama has long been the prime choice for retirees, second-home buyers, and property investors alike. Today you can still find apartments in sought-after

areas of Panama City for $80,000 and live well on $1,200 per month.
Panama was the winner for six years in a row of International Living magazine's Annual Global Retirement Index. Modern Maturity, Conde Nast Traveler, AARP

Magazine and MSN.com all praised Panama as the best place to retire. The New York Times recently compared Boquete, Panama to California's famed Napa Valley.
British researchers have released a survey called the “Happy Planet Index”. Designed to measure life satisfaction, life expectancy and ecological footprint,

Panama ranked fifth in the world. (For comparison, the U.S. came in at #150, and the U.K. at #108!)

Panama has one of the lowest costs of living in all Central and South America. Honduras is cheaper but there is no infrastructure for medical, phones, internet etc. Belize isn't so cheap and has little infrastructure. Costa Rica is not really cheaper and has a serious crime problem plus there are no longer benefits for Expats and you would have to pay income tax on your offshore income like retirement, social security etc in Costa Rica. Mexico has a serious crime problem with drug gangs executing mayors and police chiefs their first day in office and kidnappings are common. It is debatable if Mexico is cheaper than Panama but they do tax offshore income in Mexico so it is probably more expensive for this reason alone and the crime situation makes it hazardous. I am sure you could find some safe areas in rural Mexico but then you have no infrastructure like internet, phones, cell phones, good highways, medical, good water, etc. So that brings us back to Panama which is the only country that seems to have it all - no taxes on offshore income, extremely low crime (lowest crime rate in Latin America), great food (not good, great), very good internet at USA prices, good phones, good cell phones, cable and satellite TV, friendly people, the ability to buy just about anything you can buy in the USA probably for the same price or less, many consumer goods at a fraction of the USA prices, nice climate, 2.5 hours by plane to Miami and so forth.


Alexander Castrellón

Kelly's message sounds like spam to me.  There's an obvious commercial interests here. 

Watch out with real estate brokers, especially those that say that Panama is the last remaining paradise on earth !

Join Yahoo groups on Panama and ask opinions of people who have been around.  Come down for a few months and get a feel of Panama before you make ANY purchase .

Do your homework. And start learning Spanish!

panamathor wrote:

Kelly's message sounds like spam to me.  There's an obvious commercial interests here.

yes indeed -> I moderate the message

Can you advise which blogs on yahoo are you suggesting. Couldn't find any.
Also - does anyone know how many days one must physically be in Panama to qualify for residency.
Thanks Ben

Are you talking about the blogs Panama ?

Another website that you might find useful is the Retirement Detectives website - it's run by a Canadian expat living in Panama and he has no real estate interests there - his goal is to  give unbiased advice about retiring to those interested in retiring.

panamathor wrote:

Kelly's message sounds like spam to me.  There's an obvious commercial interests here. 

Watch out with real estate brokers, especially those that say that Panama is the last remaining paradise on earth !

Join Yahoo groups on Panama and ask opinions of people who have been around.  Come down for a few months and get a feel of Panama before you make ANY purchase .

Do your homework. And start learning Spanish!

you right !!!
be carefull
a lot scam around

I am interested in relocating at the end of 2010. I am not retired and would like to find employment. My mother would also relocate with me. She is a nurse and I am an Accounting Manager with a Theatre/Hotel and Resort here in Las Vegas. What are the chances that an American such as myself would be able to find employment and a house or apartment to rent.

Thank you for your time,
Erica

Hi Kelly,\

I am retired, 60 yrs old but still have very small children. I live in Spain, coming from Holland. Of course we love to live in Panama. We visited three times and will come back to further research the best place to live from April 8-13. For my 6 yr old daughter (speaks perfect English & Spanish) we need a good school. We are also looking to have some work or business or anything worth while doing. I am an optometrist, my wife a writer with computer experience. To leave Europe has advantages and dis- advantages. For my daughter a (substitute) grandfather & mother is important. She is very social. We leave people behind and need new friends. People helping us to find our way is important as well. aco

We are looking forward to your response.

Greetings

Albert

So, where can you get reliable info. We are considering moving to Panama with two small children. We cannot afford mistakes

Albert

To all,
The best option to do research is find the Expat.coms on this website, on their own blogs (google: panama blogs) and by even coming down here and spending some time and learning the area, the people and more. We not only have two children, but we have been living here for 4 years and want to live out our days here.
It just so happens we work here as well.
The pluses of Panama are many - lots of opportunities, inexpensive living, great people, relaxing pace of life and of course great beaches and mountains.
Find people that are living in Panama and ask them personally.
That is your best bet!

disfrutalo!

Know Panama fairly well, been travelling there for quite a few years. Any over the top assessments should be discounted a bit. There are some very nice things about being there however. The costs of purchasing a home or condo right now are more expensive than parts of Florida in the states, however the cost of living are much cheaper. Eight years ago a room at the Hotel Bristol ( 5 star more or less) in OBARRIO was $125.a night, two years ago the same room was $325....now around $225.There are no $100,000 / $150,000 condos within Panama City that you would want to live in. There are such homes available far from the city however. Most Panamanians own their homes within a corporation, if you buy the corporation to obtain the property...you can also assume the corporations debt as well !  ( Caveat Emptor ) There is no MLS. type real estate services there as in the U.S., Canada or Europe. Gringo taxes are usually represented in the prices. Unfortunately the way to make a million in places like Panama is to start with two, as they say. Organizations that specialize in cheerleading a countries virtues in many instances have conflicts of interest.
Having said all that there are some great people, and experience to be had in Panama...it has many positives going for it also. Visit and talk to the expats in Panama City, Chiriqui, El Valle, Coronado, and don't walk in Casco Viejo, or Chorillo at night!   Buena Suerte!

Hello

Panama offer many opportunities for Expat, the best way to know them is visiting the country, see wich are you would like to live and see what it offer to you (job,house, school,enterteiment, security) also to know the law and rules of imigration is important, so you can consult a lawyer that help you to get a idea of what you can do.

when you buy a property what does the own within the corporation really mean?
thanks

Hi Kelly,
My husband and I are looking to relocate to a less expensive area and Panama seems very attractive. We love the beach and would like to be somewhere close to the ocean. I'm kind of at a loss as to where to begin. Azuero looks very attracive but most of what I have read doesn't give me any indication of living quarters, or anything else. Do you know where I can go for further information? We are planning a trip down in March, 2011 and will probably spend several days in the city and then venture out. Any suggestions?  Thanks so much!

Hi, Kelly,

     My wife and I are trying to retire in late 2010 or early 'll.  I selected Panama because that is what my wife liked best.  We have read some of your kind information in other pubs.  We would like to devote up to a year traveling and visiting Central and South America (including Mexico) to see what might be best for us. 
     We have visited Mexico, Benin, Peru together.  My wife has visited Nicuaragua, Bahamas and India and I hve visited Albania, Argentina and Chile during our professional carreer.
     My wife has had a short course in English Second Language and is quite interested in interacting witht he local population, but feels we should start with an expat community because of my health issues. She is an avid photographer, but not professional.
     I would like to do some writing about Expats using sweat equity in their real estate dealings to gain, savings, location or profits in, say, rental or business acquisitions. 
     I hope to meet some expats who have already working on projects or may have actually completed them while we are still in the US.
    Thanks,   MK

Seems so many people looking for a slower pace of life.  My whole family is exploring the idea of all going down and running a farm/ranch with a built in B&B/resort/alpaca farm.  My two brothers and I have booked a trip and are staying in Volcan for a week in September.

Hi, I'm thinking about retirement to Panama, everything I read seems to be thr right place for me, I wouls appreciate anything you can tell me, like, what kind of life I can expect if living on $1200.00 per month, I'm alone and don't need much just a roof over my head and I'd like a little place on or near the beach, I'm from Florida and live right down the street from the ocean now, anyway any help you can give would be greatly appreciated and please tell it like it is. Thanx  Bob

Hi All
Has anyone started a small business in Panama?  Be interested in the steps needed.  Not too ambitous but would want to suplement savings.

Willing to work with others and share ideas.

George A (eh?) Canadian

Kelly,
I am starting to look in Panama and would like as much information as you are willing to share.
I am 58 and will move by myself.  How is it there for single women.  I am a real estate developer
here in Houston and would like to continue to do so there.  I am very active and want to
establish myself in some business there.

Did you take any of the seminiars for relocation?  How do I find the right real estate people to
help me?
How long did you take to make the move?

How bad is the raining season?

Thanks, Abba