‘painless panama’ reigns supreme

Panama is the fastest growing tourism market in Latin America, according to the World Tourism Organization.

Panama has been the winner of International Living magazine's Annual Global Retirement Index for six years in a row, and is listed by Global Property Guide as the location offering the 4th best rental returns in the world.

Aside from a varied climate, ranging from hot, sunny beaches to cool, beautiful mountains, Panama offers low cost living and very high quality of life.

Not only does the country boast a state-of-the-art infrastructure with excellent health care, advanced telecommunications systems and roads, but locals are accustomed to foreigners and, as is typical in Latin cultures, they are very welcoming.

English is widely spoken, making Panama very comfortable for buyers from abroad who wish to live and work in the country.

Exceptional benefits

Financially, the country offers exceptional benefits to all those who retire to Panama under its Pensionado Programme which allows:

- Import tax exemption on household goods and/or cars;
- No property taxes for up to 15 years depending on the property;
- Up to 20% off health care services
- Discounts on airfares, restaurants, fast food and movie theatres;
- Discounted closing costs for personal loans and utility bills;
- An amazing 50% off public transport (air, ground and sea).

In addition, regardless of the visa you request, there is no income tax charged on incomes generated outside Panama.

IPIN's Head of Operations, Gareth Milton, commented:  "Panama now offers unrestricted freehold property ownership to foreigners, and currently attracts15-20% per annum capital appreciation, in conjunction with exceptional rental yields of 11% per annum, along with a swift, safe and painless buying process".