Panama Cashes In On Wealthy Retirees And Expat Investors

Over the past decade, the expat world has expanded to include far-flung destinations in every corner of the world.

The latest haven for expats with a view to investment as well as the good life is Panama, home to the iconic Canal as well as a host of new updates and improvements aimed at attracting wealthier tourists, retirees and potential residents. Set in Latin America, it’s a safe country with up-to-the-minute medical services, a high standard of living and great nightlife. Its government is pro-investment and pro-business, actively promotes its tax-friendly regime and offshore company formation to investors and has a liberal immigration policy.

For retirees, there’s the Pensionado programme, offering discounts on everyday purchases, entertainment, restaurants, prescriptions and airline tickets, with those eligible for permanent residence also able to get a second passport. Real estate developments in Panama now tend towards modern homes, with incoming expats able to purchase without restrictions.

The world-famous Panama Canal is undergoing a $5.4 billion expansion at present, in line with the government’s commitment to improve the country’s infrastructure and transportation systems. The international airport is also expanding via two new terminals, with a third already on the drawing board. New runways and a direct metro link to commercial and residential areas are in the planning stages.

For potential incomers, Panama’s government is making much of the country’s stunning natural beauty and its charming beachside towns surrounded by rainforests, jungles, hot springs and mountains. Its capital boasts a national park within its boundaries as well as a great selection of malls, international standard restaurants and lively nightclubs, and is one of the safest locations in the Americas.

For those deciding Panama is their dream destination, developments just outside the city limits give the best of both worlds, and are also suitable for investors looking for high levels of rental income. The buy-to-let sector serves not only tourists looking for a great place to stay, but is also popular with expats on assignment with multinational organisations with regional headquarters in the capital.