Panama once again near the top of International Living 2023 best places to retire
Panama has again secured a top place on International Living’s list of the world’s best retirement destinations. A crucial element in making Panama so attractive to foreigners is easy legal residency.
The report, which takes into account things like climate, access to amenities, and cost of living and accessibility is released annually.
Each year one final point in the report always speaks to the options available for obtaining foreign residency. And often a few communities are highlighted in the report. Popular areas include Boquete and Coronado Panama.
In this year’s article detailing this year’s findings Jessica Ramesch writer for international living, writes:
“My favorite spot right now is Coronado, a happening beach town just an hour’s drive from the capital. In fact, I like it so much I bought an apartment there, and am packing up to move as we speak. Coronado is home to one of Panama’s most active and welcoming expat communities.
I’m not even there yet, and I’m already getting invites to potlucks and happy hours. I also plan to join in on fitness activities like yoga and water aerobics, and who knows what else."
It’s true! Coronado is home to all of the above, there is an abundance of fitness classes, yoga, meditation, sound healing, golf, tennis, and pickleball. There is also a great community here. With a mix of locals and foreigners from all over the world Coronado Panama has become a melting pot and a very welcoming community with a common love for an active lifestyle.
However, while Panama is “back in business” so to speak, in the sense the country is welcoming tourists, new residents, and investors, don’t sleep on securing residency based on the current rules and regulations, because things are changing.
Since Panama currently offers several residency visas including the retiree visa, which comes with a discount plan, Panama remains an attractive option for anyone looking to relocate.
But securing a residency visa in Panama might not always be as easy as it is right now.
The fact is that migration laws are subject to change!
This past year we have already seen several changes in immigration and foreign residency laws in Panama. Recently Panama announced changes to the Friendly Nations Visa, under which it is possible to obtain a work permit. The government has also announced, more changes will come, requiring a larger investment to obtain residency.
There is no question, if you are interested in a second residency in Panama or making Panama your primary residency, you want to be acting on it now.
By not starting the application process now, you risk missing out on obtaining a second residency in Panama under the current rules.
Find out if you are eligible for residency in Panama and what the first steps are to apply today.