What do I need to know before retiring in Panama?
When we asked people what advice they would give someone preparing to move to Panama, they said...
"When I first developed an interest in moving to Panama the possibility of owning beachfront property was the big attraction. After spending a few years looking around I decided that I would rather not live in a beach community, although I love to be near the ocean and, in fact, have spent much of my life at sea. One of the best things about Panama is that you are never far from the sea. In my opinion the Coronado area is overdeveloped and excessively expensive. The area around Pedasi is much cheaper and less crowded. It appeals to surfers for obvious reasons. There are many islands on the Pacific coast, and they are fun to visit, although it would be quite inconvenient to live there. There are also hundreds of miles of unspoiled mainland coastline that are nearly inaccessible by land. You probably want to be somewhere that has a road to it, which further limits your options. Look at a good map and you will see what is accessible. If you don't see a road it's because there isn't one. There probably won't be any utilities either. I found that there are some significant drawbacks to living close to the beach and few native Panamanians choose to do so unless they are in the fishing business. You should look for yourself, though, and after visiting Coronado and Pedasi you might look at Las Lajas, Boca Chica, Puerto Armuelles, and the Boca del Toros archipiélago on the Caribbean coast. They're all beautiful in their own way but don't forget to look at the negative aspects including weather, services, access, and increased maintenance requirements. If you find a place you love you should rent for at least a year before you consider buying anything," said a member in Panama.
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"Before retiring in Panama, consider visa requirements, cost of living, healthcare system, climate, legal and financial aspects, housing options, activities for retirees, and familiarize yourself with the language and local culture. With proper planning, you can enjoy a successful retirement in Panama," wrote Moises Alvarado N. from Panama Legal Business (PANLEB).
Moisés Alvarado Navarro is an experienced legal advisor in Panama and has assisted numerous foreigners in establishing themselves in Panama.
Click connect to have our partner, Moises, contact you via e-mail and/or phone.
Moisés Alvarado Navarro is an experienced legal advisor in Panama and has assisted numerous foreigners in establishing themselves in Panama.
Click connect to have our partner, Moises, contact you via e-mail and/or phone.
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Other Questions:
- What do I need to know before moving to Panama?
- How do I find a place to live in Panama?
- What is a typical expat home or apartment like in Panama?
- What is the average cost of housing in Panama?
- Should I buy or rent a home in Panama?
- What should I pack when moving to Panama?
- What cultural faux pas should I try to avoid making in Panama?
- Why do people move to Panama?
- What are healthcare services like in Panama?
- What are medical services in Panama like?
- What are typical rents in Panama?
- What appliances are typically included in a rental?
What do I need to know before retiring in Panama?
If you live in Panama, newcomers to Panama would love to hear your answer to this question.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
