Living In Panama

Living in Panama has become a desirable location to retire and live. There are 15,000-20,000 Americans living in Panama. It is both extremely affordable while being very modern and an easy transition for Americans, Canadians, and Europeans. It is very accessible to the U.S. with frequent non-stop service to and from Panama City's Tocumen International Airport. People find the transition to living in Panama easy for many reasons. One reason is the presence of American products, chain stores, businesses, and services including but not limited to BellSouth, Blimpie, Avon Cosmetics, Costco, Subway, TGI Fridays, Hallmark card stores, Servi-Star hardware, Sherwin Williams paints, Hewlett Packard printers, Citibank, Chase Manhattan, First Union bank, and Hertz.

The low cost of living in Panama is another great reason to live or retire in Panama. The cost of living in Panama is one of the lowest in Central and South America. The cost of building a house and the cost of labor is much lower than in the U.S., Canada, or Europe. A full time maid costs between $90- $200 per month. Depending on your needs, a maid might be full-time, live-in, and will be willing to also cook meals. The costs of every day things is lower when living in Panama. You'll pay 40 cents for a beer at a bar, 30 cents for a cup of coffee. You can visit the beauty salon or barber shop for $2-$8. Phone service is about $30 per month, water about $20 per year, Internet access is $14-$30 per month, electricity is about 10 cents per kilowatt-hour, cable tv is $30-$40 per month. Most business services are about the same or lower than they are in the U.S.,Canada, or Europe.

If you are a foreign resident living in Panama, you are not required to pay property taxes for 20 years. You also do not pay taxes on foreign-earned income. Housing is affordable and prices for building and renting are dramatically lower than in the U.S.,Canada, or Europe. American currency can be used in Panama. Americans living in Panama get more for their dollar than they do in the U.S. Foreign residents living in Panama will find fully stocked super markets comparable to U.S. supermarkets. The shelves are stocked with many familiar brands. Shoppers will find the super market chains no different than a typical U.S. supermarket. Healthcare is very good in Panama and quite affordable. Living in Panama, you have access to affordable health care with excellent coverage. The healthcare in Panama is world class, and much more affordable than in the U.S.