What do I need to know before retiring in Isla Taboga?

"Expats considering retirement in Isla Taboga should be aware of several key factors. Firstly, the cost of living is generally lower than in many Western countries, but it can vary depending on lifestyle choices. The official language is Spanish, so learning the language or at least basic phrases can be beneficial. Healthcare in Panama is of a high standard, particularly in Panama City, but it's important to secure comprehensive health insurance. The climate is tropical, with a wet and a dry season, and it can be quite humid. Isla Taboga is a small island with a limited number of amenities and services, so for more complex needs, one would need to travel to Panama City. The island is known for its beautiful beaches and nature, offering a peaceful and relaxed lifestyle. Panama uses the US dollar as its currency, which can make financial transitions easier for American retirees. The country has a program called the "Pensionado" which offers numerous discounts and benefits to retirees, but specific requirements must be met to qualify. Panama's residency process is relatively straightforward, but it's recommended to hire a local attorney to navigate the legalities. Lastly, it's important to visit and spend time in Isla Taboga before making the decision to retire there, to ensure it suits your lifestyle and preferences," explained one expat living in Isla Taboga, Panama.

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Allianz Care's plans ensure that you have access to quality healthcare whenever you need it. Our flexible solutions allow you to tailor your cover to meet your needs and budget. You can submit your claims digitally and our helpline is available 24/7 to help you anytime.

Allianz Care

Allianz Care's plans ensure that you have access to quality healthcare whenever you need it. Our flexible solutions allow you to tailor your cover to meet your needs and budget. You can submit your claims digitally and our helpline is available 24/7 to help you anytime.
Get Quote