Best Places In The World To Retire
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How much do healthcare and medical services cost in San Miguel de Allende?
Do I need a second passport if I retire, work, or live abroad?
Panama is a great place for you to retire. Many experts say that Panama's Pensionado (Retirement) Program is the very best. I am a Panama Pensionado. You need a Panama lawyer to help you with becoming a Pensionado. The Panama law firm that I recommend is Panama Relocation Attorneys is Panama City.
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Panama is a great place for you to retire. Many experts say that Panama's Pensionado (Retirement) Program is the very best. I am a Panama Pensionado. You need a Panama lawyer to help you with becoming a Pensionado. The Panama law firm that I recommend is Panama Relocation Attorneys is Panama City.
At this time, a Pensionado can NOT legally work (have income), but a Pensionado can - however - own a Panama Corporation & the Panama Corp can have income. Be very careful here because certain types of business can only be owned by Panamanian citizens. You need to be represented by a competent Panama lawyer.
Being able to legally work in Panama is much more complicated. Panama protects its citizens and makes it very difficult for foreigners to obtain a Panama work permit. However, recently President Martinelli issued Executive Order 343 & this Executive Order may make it easier for foreigners to obtain work permits... but because all this info is so brand new - the mechanics of this Program are still being sorted out by Panama's Immigration Department.
The economy & tourism industry are absolutely booming here in Panama & recently I read that 10,000 additional workers are needed because of all the new Panama hotels that are currently under construction.
Maybe I should also mention that when a citizen of North America comes to Panama as a tourist, this person may remain in Panama for up to 180 days... before the 180 days are over a tourist then needs to leave Panama for 72 hours, but after the 72 hours the tourist can return to Panama for another 180 days. And you can do this over & over & over again & again I personally know of people who have in effect been Perpetual Tourists (PTs) in this manner. In fact my wife & I were PTs before we became Panama Pensionados. A tourist and/or PT can NOT legally work (have income) here in Panama, but even a foreign tourist can own a Panama Corporation & the Panama Corp may have income.
Come To Panama & Turn YOUR Frown Upside Down!
What's the overall cost of living in Volcan and Cerro Punta, Chiriqui Province, Panama?
I now live in a house with my Panamanian wife, and we share the costs. She earns just from her "cottage industries", like making masa, knitting, washing blankets (she is a rare Panamanian here for having a washing machine), and selling duros (a frozen dessert). The costs, other than rent, are pretty much the same, except cable runs about $22 a month and a combined telephone and internet service runs about $30 a month. And I am still saving money!
Of course, lots of expatriates prefer to live in a more opulent style than I, so costs for them will be higher. But you can extrapolate from the above that even for these gringos the overall cost of living in this region is still quite low. (And, as I have noted elsewhere on this Best Places in the World To Retire website, I caution gringos to be careful about ostentatious opulence, for that attracts the thieves. It is best to live as I do: simply, more like one´s Panamanian neighbors.)
Are there taxes other than Nicaraguan income taxes I have to be aware of?
In Nicaragua, we have low property taxes. You will not believe that a 5,000 square foot home costs only US $200 a year in property taxes. You can have a 1,500 square foot house built for $85,000. A house like that in Granada will cost probably $50 or $70 a year in taxes. The same rate applies for the entire country.
Other taxes you need to be aware of are the annual taxes that go to the municipality or to the city hall. Garbage collection fee is probably $1 a month. That is...
In Nicaragua, we have low property taxes. You will not believe that a 5,000 square foot home costs only US $200 a year in property taxes. You can have a 1,500 square foot house built for $85,000. A house like that in Granada will cost probably $50 or $70 a year in taxes. The same rate applies for the entire country.
Other taxes you need to be aware of are the annual taxes that go to the municipality or to the city hall. Garbage collection fee is probably $1 a month. That is all that you pay in taxes.
How easy would it be for me to find a job in Portugal?
What are the traditions of Ambergris Caye?
Lobster Fest is also held in July. It’s a whole week where all the restaurants prepare – it’s when the lobster season opens. A lot of expats participate. You get like a lobster passport and you go to all these restaurants where you get a discount if you have this passport. Each restaurant has a lobster specialty. At the end of the week, on Saturday, the whole central park area is blocked and almost all the restaurants in town have a lobster competition. They have anything from lobster drinks to lobster cheesecake, to lobster ice cream. I don’t like lobsters, so I’m probably the only one who eats somewhere else first and then goes to the event just to socialize. It’s a really unique and different event that gets really full. They’ve been doing it now for a few years and it’s just gotten to the point where people are actually planning trips around the Lobster Fest Week.
In August, there’s a big event called the Costa Maya Festival where the town has a Thursday, Friday, Saturday, Sunday event where there are participants mostly from places in Central America – Mexico, Costa Rica, Guatemala, who participate in a beauty competition. There’s food from these different places; that’s also pretty interesting.
Our Art Carnival is another big event, held in February. Our Carnival is different than the Carnival in Brazil. Ours is 3 days of people painting each other with water paint. If you go out on the street they have what we call Comparsas, which are groups of people dancing to different themes. It’s really interesting. There are tourists that really dig it. It’s completely different.