What do I need to know before retiring in Santa Catalina?

"Santa Catalina, is a small fishing village known for its laid-back lifestyle, making it an ideal retirement destination for expats seeking tranquility. Before retiring there, expats should know that the cost of living is relatively low compared to other countries, but it's essential to have a clear understanding of your budget and financial situation. The official language is Spanish, so learning the language or at least basic phrases can be beneficial. The healthcare system in Panama is generally good, but in Santa Catalina, access to medical facilities may be limited due to its remote location. Therefore, it's advisable to have a comprehensive health insurance plan. The climate is tropical, with a wet and dry season, and it can be quite hot and humid. Expats should be prepared for this type of weather and the potential for tropical storms. Santa Catalina is a popular destination for surfing and scuba diving, so it's perfect for retirees who enjoy these activities. However, it's a small town with limited amenities, so if you're used to city life with a wide variety of entertainment options, it may not be the right fit for you. Panama uses the US dollar as its currency, which can make financial transitions easier for American retirees. However, banking and taxation laws can be complex, so it's recommended to seek advice from a financial advisor familiar with Panamanian laws. Lastly, it's important to understand the visa and residency requirements in Panama. The country offers several visa options for retirees, including the Pensionado visa, which provides several benefits. However, the process can be lengthy and requires specific documentation, so it's advisable to start this process well in advance of your planned move," wrote a member who made the move to Santa Catalina, Panama.

Kovalenko & Vera Attorneys at Law in Panama
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Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.

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Kovalenko & Vera Attorneys at Law in Panama

Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.
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Click connect to have our partner contact you via e-mail and/or phone.