What advice do overseas retirees have for others considering retiring abroad?

"Overseas retirees have varying pieces of advice for those considering retiring abroad. Many mention to do as much research as possible on the local culture and laws, as well as getting to know enough of the language to get around. Consider the cost of living in the area compared to your income, and budget accordingly. Visit the location beforehand to make sure it is the right fit; take a look around and familiarize yourself with the surroundings. Have a plan in place in case of any possible health issues. Make connections with both expats and locals, as it can be helpful to have advice and support from those familiar with the area. Finally, ensure to allow yourself enough time to adjust to your new environment," explained one expat living in Panama City, Panama.

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Caballero, Méndez & Candanedo offers a full range of legal services tailored to your needs, from obtaining residency in Panama to corporate formation and bank account opening. We handle every step of the process, so you don’t have to worry about a thing, while advising on real estate, labor, intellectual property, and administrative matters.

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Caballero Méndez & Candanedo

Caballero, Méndez & Candanedo offers a full range of legal services tailored to your needs, from obtaining residency in Panama to corporate formation and bank account opening. We handle every step of the process, so you don’t have to worry about a thing, while advising on real estate, labor, intellectual property, and administrative matters.
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Click connect to have our partner contact you via e-mail and/or phone.

"Panama is a nice place, but hot and humid with the best climate from December to April. Advertising from some relocation services about how cheap is Panama is not really up to date since Panama is getting expensive. The best way is to visit the recommended places and, by yourself, visit the stores (especially grocery) to figure out prices of some products are twice the US price. You can buy local but you will be considerably limited on food and food diversity is very important for a good health. Everything is full retail price in Panama and lots of people order from the US and it still is cheaper even with shipping with a much larger selection as Panama selection is very limited and it's understandable with only 4M population. We have lived in Panama and Portugal but there are no comparison as Portugal is the best place to be but it's far away from the US with a different time zone and currency. Portugal price are much lower than Panama on everything and the grocery food selection is the best you can have. Panama is a nice place to live with nice people but not based on lower cost of living since it has changed in the past few years. There maybe places you can live "cheap" but that won't be next to big center with not much services accessibility and diversity (hospitals, clinics, pharmacy, grocery stores, etc) with no price/selection competition among the different stores," said another expat in Panama City, Panama.