Panama – A Naturally Gifted Retirement Haven
(http://solpropertygroup.wordpress.com/) Small (about the size of Scotland) but perfectly formed, Panama is continually ranked amongst the top five places in the world to retire to, largely thanks to its warm climate, postcard-worthy beaches and pensionado (retiree) program which is beyond generous. And, with the US dollar as legal tender, Panama got even more appealing for Brits, canoe enthusiasts or otherwise, whose pennies now stretch a whole lot further.
This narrow corridor of land linking Central and South America, dividing the Caribbean and the North Pacific, is one of the safest and most stable destinations in Latin America. The capital, Panama City, plants a historical heart alongside Miami-style skyscraper living, whilst tropical rainforests, rugged mountains and some 1,000 castaway islands prove that nature has truly blessed this nation. It’s little surprise that Europeans and North Americans alike are looking to put down roots here.
The Panamanian Government has certainly done everything to entice a mature clientele. Anyone buying property may apply for permanent residence one year after having applied for a residence visa and once in possession the pensionado program is yours for the taking. Acknowledged as being the best in the world, eligible parties can enjoy 50% off entertainment (movies, theatres, concerts), 30% off bus boat and train fares, 25% off air fares, 25% off utility bills, 20% off doctor’s charges, 15% off dental and eye examinations, 15% off hospital bills, and the list continues. What’s more, Panama is one of the best offshore havens in the world.
Deane Roe, Account Manager for foreign exchange specialist Moneycorp, would advise that buyers of dollar property act quite swiftly in order to make the best of the current exchange rate situation. Deane comments, “Whilst there is no clear outlook on the way that the dollar is going, or sterling for that matter, what we can observe is that each time sterling approaches the two dollar mark it gets knocked back so it seems unlikely that it will climb any further. It would be sensible for buyers of the dollar to act now, and those sending regular remittances from the UK to US dollar regions should consider arranging a series of forward purchases to maximise the current favourable rate.”
–easier property
