Best Places In The World To Retire

Readers, expats, especially American expats, have been welcomed and received a warm welcome since U.S. expat Stirling Dickinson (the man pictured here) moved to San Miguel de Allende in the 1940’s. His efforts led to the publicity of San Miguel in Life Magazine in about 1949, which resulted in a flood of GI expats moving here after the war, and they have been coming for an increasingly broader number of reasons, the most common factor being lifestyle.

 

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Readers, expats, especially American expats, have been welcomed and received a warm welcome since U.S. expat Stirling Dickinson (the man pictured here) moved to San Miguel de Allende in the 1940’s. His efforts led to the publicity of San Miguel in Life Magazine in about 1949, which resulted in a flood of GI expats moving here after the war, and they have been coming for an increasingly broader number of reasons, the most common factor being lifestyle.

 

Because of this almost 70-year history with Americans, local expats are treated with cordial, and often warm, respect. The expat community here generates more non-profit support for the local residents than their own government often provides, and the locals are cognizant and appreciative of that support.  You’ll receive a warm welcome!

Placencia is very busy during the daytime because of having different activities. The nighttime in Placencia definitely needs to be improved in terms of culture.

There is an annual film festival put on by Francis Ford Coppola, who has a project about 10 minutes away from ours.  From our perspective, were working on a couple of things like an annual musical festival. Were also building an amphitheater and having multiple entertainers come to Placencia. Several...

Placencia is very busy during the daytime because of having different activities. The nighttime in Placencia definitely needs to be improved in terms of culture.

There is an annual film festival put on by Francis Ford Coppola, who has a project about 10 minutes away from ours.  From our perspective, were working on a couple of things like an annual musical festival. Were also building an amphitheater and having multiple entertainers come to Placencia. Several months ago, we had Clint Black come into our project for vacation. He came into our restaurant and sang for two hours straight. He’s just one of the nicest guys.

 

From a cultural perspective, Belize definitely needs some work, but every year, the Belize Tourism Board is doing a good job working with the different projects down there, especially by improving the culture and adding more to what Belize already has. You do not go to Belize to see a Broadway play. You come to Belize for its beauty of the people, the bird life, the fishing. The emphasis is more on nature, but the culture will improve because different resorts are taking the responsibility to work on that from their perspective. 

 

(Participants in Francis Ford Coppola writer's workshop in Belize, pictured.)

The Panama Pensionado / Retirement Program is a residency you can get. If you’re able to prove that you have a monthly income from an official source and that you’re retired, you can be allowed to stay in the country of Panama legally as a “pensionado,” but you have to be retired, which means you can’t work.

 

The Pensionado Visa will take you 3 years to get, so while the visa is in process, you have to get a...

The Panama Pensionado / Retirement Program is a residency you can get. If you’re able to prove that you have a monthly income from an official source and that you’re retired, you can be allowed to stay in the country of Panama legally as a “pensionado,” but you have to be retired, which means you can’t work.

 

The Pensionado Visa will take you 3 years to get, so while the visa is in process, you have to get a “carnet”, which will allow you to be entitled to the benefits of being a resident of Panama. The Pensionado Visa may cost you roughly US $2,000. In order to get a Pensionado Visa, you have to have your FBI report, prove that you’re receiving money from an official source, and prove your age. You need a lawyer to make it all easier.

 

For Americans in many cases there’s a better option than getting the Pensionado Visa. The United States and Panama have an international treaty through which we have a visa called the Friendly Nations Visa. Under the Friendly Nations Visa, you only have to put US $5,000 in a Panamanian bank account, have a corporation here, and you’ll be able to get your permanent residency in 3 months, which is better and easier than getting a Pensionado Visa. The $5,000 that you’ve put in your account is still yours. In the process, you need to have the FBI police report. With regards the corporation, it’s just like a shell corporation; it’s a Panamanian entity that allows you to do business, but you don’t have to conduct business through it.

 

The cost for a Friendly Nations Visa is very roughly around $1,500, which includes the cost of the legal fees.  The cost to set up the corporation is very roughly another $1,500, and there may or may not be any other related fees.  So, as a very rough estimate, you’ll end up spending about $3,000 - $4000 in total to become a resident of Panama under the Friendly Nations Visa. I never quote a hard price because sometimes clients need to have a little bit more paperwork or there may be some other issues, but this is a good rule of thumb.

 

Under a Friendly Nations Visa you can work, but if you’re here under a Pensionado Visa, you’re not allowed to work.  However, it is not necessary to be in Panama under a Pensionado Visa in order to get Pensionado discounts.  They are completely separate.  The pensionado discounts are conferred to you as a result of your age, not your visa status.

 

 

In Panama, if you are older than 65 years, you are retired. We respect old people here in Panama. That’s the Latin way of working. If you are over 65 years old, you get your 20% discounts when you go to restaurants and the other discounts and benefits as well.