Bernal Saborio
It’s no accident that Panama City, Panama, has become a top expat destination for people from all over the world. Just look at what the city has to offer:
- balmy climate
- clean drinking water
- stable government
- first world amenities
- reasonable cost of living
- high quality medical care
- rich cultural experiences
- quick access to rainforest, beaches, and mountains
Panama City is close enough to the U.S. to make travel into its Tocumen Airport a quick jaunt from Miami, and yet it’s also an easy gateway to further travel in Central and South America. If you want glamorous, big city life, you can have it there, but you can also connect with local people from indigenous cultures who can show you a simpler manner of living.
Either way, you’ll have the best of both worlds in Panama City. Here’s our expat guide to Panama City to help you make the jump into one of the best places on earth to reboot your life.
Tannaz
Daily Life: What to Expect
Panama City has the highest per capita income in Central America. With high speed Internet, modern global banking, and currency in the U.S. dollar, you might think for a minute that you’re in a big U.S. metropolis.
But unemployment is higher in Panama City than in the States, so rather than counting on finding employment there, it’s best to have your income lined up before you go, whether that’s working remotely or starting a business there. Panama offers numerous perks for business investors in the tourism industry, including fewer duty restrictions and income and real estate tax exemptions.
Life is a little slower in Panama, so plan on things taking longer than you’d expect in the U.S., such as completing household repairs, ordering utilities, or filing government papers. That’s an aspect of Latin culture that’s pervasive in Central and South America. The upside is that life is savored in Panama, and you can count on people taking the time to enjoy food, company, and entertainment.
Be aware, though, that no one arrives on time for social events, so don’t fret if you’re waiting for friends at a restaurant or they’re not at your door on the stroke of the hour. Like in most Latin countries, it’s nice to bring your hosts a little gift if you’re invited to their home – something like wine or candy is always appreciated.
And if you learn at least a little Spanish, it will make life infinitely easier for you in both business and social settings and will go a long way in dispelling stereotypes about arrogant foreigners.
Geoff Gallice
Residency and Cost of Living
While it’s a tad more expensive than the countryside, Panama City affords expats a very reasonable cost of living. Although utilities fluctuate with the price of fuel, you won’t have any need for heat, nor will you want to use air conditioning very often (most places don’t have it).
Panama City has a warm, moist climate much of the year, with a dryer period from January to April, and the ocean breezes keep it pleasant most of the time. Many expats get by with just Internet and a mobile phone, so you can kiss your land line and fax machine goodbye.
A couple can get by on about $1,500-2,000 per month, with about half the monthly budget going towards rent. While you may be spending close to what you pay in the States for a house or apartment, you’ll get far more in terms of square footage, charm, building amenities, and gorgeous views. Of course, you can always purchase property there too. Buying a home in Panama, with the help of a local attorney, is fairly straightforward and free of restrictions.
One of the hallmarks of Panama City is its top-notch health care. At the most expensive hospitals, such as the Johns Hopkins-affiliated Punta Pacifica, you can expect to pay about half the U.S. cost of medical treatment. And many other excellent clinics provide service for considerably less.
There are many visa categories for foreigners who want to live in Panama, but if you can take advantage of the pensionado visa, you’ll definitely want to do so. Offered to those in good health with no criminal records and a minimum income of $1,000 per month, the pensionado allows you to import a car to Panama every two years, import your household goods with no duty, and pay discounted prices at movies, restaurants, hotels, and public transportation.
Tony Mendez
The Expat Guide to Panama City Residential Neighborhoods
Panama City is a city of neighborhoods, and they are all quite different. While you should stay away from El Chorrillo, Santa Ana, and Chinatown due to safety issues, there are a number of residential areas that many expats find quite pleasing.
Balboa, Cerro Ancon, and Albrook are all neighborhoods in the former canal zone, including a one-time U.S. Air Force base that is now used as a domestic airport. The view from the top of Cerro Ancon is stunning, with 360-degree vistas of the city and the canal.
Bella Vista, Area Bancaria (the financial district), and El Cangrejo form a compact spot that could be considered one upscale neighborhood. One of the few areas in Panama City that is easy to negotiate on foot, this locale makes it easy to walk to its plethora of shops and cafes. If you’re not putting up visitors in your home, they’ll love the lodging choices in El Cangrejo.
If it’s high-rise glamor you want, you’ll find it in Marbella, Punta Paitilla, and Punta Pacifica. There, steel and glass towers are interspersed with modern shopping malls, and the coastline location provides beautiful views.
Rodrigo Gambassi
Fun Activities Around the City
Casco Viejo is another popular neighborhood that mixes residences in classic centuries-old architecture with lively entertainment and tourist appeal. It is currently undergoing a major gentrification and is another neighborhood best experienced on foot. Some other popular attractions include:
- Panama Viejo – ruins of the old Panama City
- Amador Causeway – a malecon connecting four islands near the Pacific side of the canal filled with restaurants and tourist spots reminiscent of Miami
- Parque Natural Metropolitano – a fabulous nature park only ten minutes from downtown
- The Panama Canal – not just for tourists
- Mercado de Mariscos and Mercado Publico – the seafood and adjoining farmers markets
If sports are your thing, there is world-class baseball and horse racing in Panama City too, as well as bike rentals on the Causeway. Dance clubs, bars, and pubs abound, from the most casual to velvet rope glitzy. Shoppers can always find something to please at any of the city’s galleries and mega malls or the smaller centers for handicrafts. Avenida Central is full of colorful bargains with real local flavor.
gil2594
Getting Around Panama City
Driving in Panama City is a lot like driving in the U.S. as far as rules and regulations go, but the traffic is considerably more congested. If you must drive, be aggressive but watchful and ready to stop on a dime.
Watch out for pedestrians – there are a lot of jaywalkers in Panama City – and never leave valuables in your car. There are street or parking lot spots with guards who will watch over your car for a small fee. Keep your doors locked and always carry a map with you, not that it will necessarily do much good on many of the unnamed streets in the tangle of downtown.
Taxis are a better way to go, and they’re very inexpensive in Panama City. For about $2, you can get around downtown, and $5 will get you out to the Causeway. Even cabs can have a difficult time with the lack of formal addresses, so try to give them as much information as you can about your destination. Be sure to confirm your price ahead of time, and don’t be surprised if you pick up another passenger during peak rush hours or rainy days.
Living in Panama City can be fantastic for expats who want the modern comforts of the first world with the cultural experience and lower cost of Latin America. Panama City has an active and well-connected expat community that can advise you on common questions and help you assimilate smoothly into the local culture.
For more information about living in Panama, be sure to check out our other posts and feel free to ask questions–that’s what we’re here for! We love living in the Latin tropics, and we want you to also!
Map of Panama
Panama Fast Facts
- Population: 3.8 million
- Typical temperature: Temperature typically varies from 72°F to 91°F
- Nearest airport with U.S. flights: U.S. bound flights leave daily from Tocumen International Airport
- Nearest U.S. consulate: Panama City
“I’m moving abroad and becoming an expat!” Those seven words can have a profound impact on more than just you. For family and friends, the announcement that you are stepping away from the “normal” life can be both confounding and upsetting.
Dealing with the family-friends conundrum may not have been something you anticipated when you made the choice to move to the tropics, but it is something that has to be resolved. Identifying the reasons that those closest to you might object or not understand your choice can also help you to work together so that paradise doesn’t become an emotional purgatory. This is an important part of preparing for your new life in paradise.
Luke Addison
Why Family and Friends May Object to Your Decision
There are a number of factors that could cause surprise and negative reactions to your announcement. Depending on your relationship, these responses can range from surprise, to disapproval and, in some cases support. Below are some of the root causes that may be impacting those closest to you.
They Didn’t See That One Coming
Perhaps the major reason for those closest to you reacting with disbelief to your announcement is the simple fact that they weren’t expecting it. For many people, living in a foreign country is an almost inconceivable concept; to discover that a relative or close friend has decided to do exactly that can be incomprehensible.
Although you may have discussed becoming an expat in casual terms, many people chalk up such talk as wishful thinking. Even if you’ve shared some of your planning with them, friends, co-workers, and family may still have not taken you seriously. Only when the actual steps to moving are underway, does it seem real.
Separation Anxiety
For many family members, particularly older relatives, the thought that you are no longer just a short distance away can be both frightening and frustrating. The immediate reaction is often one of anger and accusation: Why are you leaving us? What’s wrong with you? Don’t you know how dangerous it is? Etc.
Keep in mind that the expat choice is a relatively new phenomenon. Retirees in previous years rarely, if at all, considered moving out of the country; in point of fact, it’s only been in the last twenty or so years that expats have discovered the potential that Latin American countries offer in terms of investment and lifestyle.
Being out of touch, or missing out on family events (birthdays, holidays, etc) is also a fear that many relatives have concerning your decision to become an expat. This is as much a matter of perception as anything else; constant improvements in internet, cable and cellular services certainly make it easy to keep in touch although the idea of relying on these technologies can be a whole other issue in and of itself.
That Green-Eyed Monster
Another reason, although one that family/friends may not even be consciously aware of, is envy. The fact that you have a dream that you have decided to turn into a reality can make even those closest to you jealous that you are doing something that, perhaps, they have only dreamed of.
This is easy to recognize by the constant pointing out of all the potential problems that an expat might encounter. These can range from: a foreign language, not enough money to live on, strange food, no modern conveniences, etc. Those who do recognize that they might harbor some jealousy may temper their “doomsaying” by acknowledging that they wish they could do the same thing.
Alec Couros
How to Make It Right with Friends and Family
Once the initial shock has passed, you will have a number of opportunities to help your loved ones accept and, hopefully, embrace your choice to be an expat. What follows are some suggestions to help calm the emotional waters
Be Prepared and Share Your Preparations
Fear of the unknown can drive the most visceral of emotional responses. By sharing with those close to you, your preparations, showing that you are taking steps to protect yourself and your family financially, and seeking feedback, you can defuse a lot of the anxiety friends and relatives may harbor about your well-being once you move.
Show Them That Paradise Isn’t So Far Away
With constant improvements in infrastructure and transportation in many Latin American countries, having your family and friends visit you in your new home is easier than ever. When they see that you aren’t lost in the middle of a tropical rainforest with no way to fly back to the States, the fear that you are no longer “connected” will greatly reduce.
Similarly, by having them share your expat lifestyle, if only for a short time, you are removing the “unknown” from the equation and, as such, reducing their anxiety. Of course, you may discover that they enjoy the tropical world you have found so much that they may not be eager to leave.
Don’t Be a Stranger
With all of the communications options available (social media, email, cellular systems, even computer based phone lines with local U.S. numbers), keeping in touch with everyone back in the States is a convenient way of ensuring that you are still a part of their world and, in turn, that they are a part of yours. Silence is one of the greatest causes of worry by those whose family or friends have moved overseas; by staying connected, that cause for concern is greatly reduced.
Anna Magal
Show Some Tough Love
Ultimately, the decision to become an expat was one that you made for a number of personal reasons. You may have to remind those nearest and dearest to you that this was your choice and that you hope that they can love and support your move to paradise.
For those moving outside the U.S. because they have retired, remember “this is not your father’s retirement.” Retiring today means something totally different than it meant in the mid-to-late 20th century. Understanding this difference can also help you explain to older family members that this is not an ending but, in fact, a new beginning.
Expat living is a life-changing event. Sharing it with family and friends and embracing them as part of this new adventure can enrich these moments for all involved. Start your dream today.
Becoming an expat, living abroad and immersing yourself in a new way of life can be an exciting proposition. However, there can be some unpleasant shocks to being new in a foreign country, namely unexpected or higher costs for things that you hadn’t expected or budgeted for.
These increased expenses for the unwary or uninformed expat can have not only financial but also a profound emotional impact. Understanding the development cycle and educating oneself on how the locals spend and shop, can reduce this cultural sticker shock and ease your transition into the tropical lifestyle you had dreamed of.
Jasperdo
What the New Person Tax Is
The new person tax can be thought of as having two parts. The first part consists of those expenses that are necessary to establishing yourself as an expat in your new country. The second part is those prices that expats pay for goods and services that are higher than the local population.
While neither part is a “tax” in the true sense of the word, the unwelcome and unexpected costs of your new lifestyle can feel just as burdensome as a levy from a taxing authority. Here are some examples that illustrate what a “new person tax” is:
Moving Your Personal Property to Your Tropical Escape
Perhaps one of the biggest shocks many expats receive is when they discover just how much it will cost to bring their furniture, clothes, electronics, etc. into their new country. Each country has different rules regarding the dollar amount that can be imported by foreigners without having to pay taxes, or customs duties.
This is particularly important if you are considering bringing a vehicle into the country; registration, insurance, and licensing fees all run up the dollar amount that having your own personal transportation could cost.
An even bigger surprise comes when trying to find companies that will ship to your destination and how much it will cost. Factor in the time it may take to actually receive your belongings (and the costs that you may incur if you need to buy essentials to use while waiting) and the cost may stagger those who weren’t expecting it.
Real Estate Can Mean Real Costs
While many countries have very favorable laws governing land ownership by foreigners, the expenses involved in a purchase can go well beyond the purchase price. Retaining an attorney, paying for title searches, having documents translated, registration at the correct authority, transfer taxes (if applicable), and, of course, commissions, should all be considered as related costs.
Trying to actually learn what the purchase price of a parcel of land or a home is can be another money trap. Latin American countries do not have an MLS system and, as a result, properties can be advertised by multiple agents, at different prices, at the same time. It is not uncommon to find the higher prices listed on “gringo friendly” websites than on those favored by local residents.
Paying for utilities can also have unexpected financial consequences. Utility companies in paradise will often charge for service calls even if it turns out that the service can’t be installed or repaired. Simply put, expecting the same type of relationships with providers of electricity, water, cable, and internet that you would find in the U.S. (and at the same prices) is just not realistic.
Shopping Can Be a Challenge
Even the simple tasks of food or clothes shopping may eat unexpected holes in the budget. North Americans are often perceived as having endlessly deep pockets, so it is not uncommon for expats to be charged higher prices than the locals pay; this is sometimes referred to as the “gringo price.” This is especially true in the smaller markets where no prices are posted.
Some of the larger stores do carry items that cater to the expat community who want to purchase the same kinds of things they would find in their home country. The trade-off: prices for those imported items are often double or even triple what they would cost in the States.
For example, a simple 8 oz. bag of potato chips that might only cost $0.99 in the U.S., can cost $3.79 in your tropical destination. Trying to live like a gringo, while trying to be an expat, can be an expensive proposition.
For larger bulk items, such as building materials, there could be an even greater element of surprise. Barter is not uncommon throughout Central America and, for locals, this can also be a medium of exchange (i.e., lumber in exchange for working on the land, etc.).
Unfortunately, this kind of arrangement is usually not discovered by expats and, as a result, having to pay for supplies can drive up construction costs. Also, once supplies are purchased, it is often up to the buyer to figure out how to get them to the desired location.
Everjean
How to Give Yourself a New Person Tax Break
The transition to expat status can seem almost overwhelming at times. However, there are some simple steps you can take to minimize the financial impact of being the “new person.”
Do Your Homework
There are many online resources that expats can use to learn about the real costs of moving to a desired destination. Make a list of questions that you would like answers to (remember, there are no stupid questions) and research the answers. The truth is out there, you can find it.
What Kind of Lifestyle Will You Have
It’s important to decide what kind of expat life you want to lead in your Latin American home. Are you planning on obtaining residency? Will you become a “permanent tourist” (travelling back and forth to the U.S. or elsewhere)? Rent, buy, or build? Each choice carries its own unique set of potential expenses; deciding how you are going to live makes it much easier to understand the potential budget concerns up front.
Connect with Others
With the number of expats growing by leaps and bounds, finding those who have successfully (or not) made the journey may be simply a matter of using one of the many social networking sites. Just reading about others’ experiences can provide valuable information that can translate into actual savings when you are in country.
Become a Part of Your Community
Perhaps the best way of avoiding the “gringo price” trap is to build relationships with the locals. Having friendly associations can provide you with help in finding the best places to shop, learning a new language (if you don’t speak Spanish), and generally providing a way to truly immerse yourself as part of the country, instead of being an outsider.
A Final Hint
There is always an element of the unknown in any new adventure. The old saying is true: You can’t guard against the arbitrary.
Becoming an expat may be one of the most profound experiences one can undertake in a lifetime. Embrace it, keep your expectations realistic, and remember that learning is growth. Visit those places that call to you and see if the time is right to take that first big leap of faith.
Viva Tropical Radio
Our guest today, Juani, travels the world providing Ayahuasca ceremonies for people looking for a spiritual breakthrough. He talks about why people attend, and how they gain valuable insight into their lives using a traditional plant mix. He also discusses why this relatively obscure Amazon practice is gaining popularity in the modern world.
Josh also speaks with Juani about his job as an Ayahuascero, traditions from the ceremony, his training, and much, much more. Juani talks about his approach and how he mixes modern with traditional practices to help people grow, change, and live a healthier life.
This is your chance to go inside a real ceremony and hear the traditional music called Icaros usually reserved for ceremonies only.
A great show for anyone interested in a mystifying subculture that is gaining popularity worldwide.
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Illustration by Anderson Debernardi
The recent attention Panama has been receiving as a great place for retirees points out why a Panama retirement is a valuable choice. For many baby boomers considering a move offshore, this tropical destination provides many options that other Latin American countries don’t offer.
With its close ties to the U.S., continued infrastructure improvements, and a vibrant historical and cultural atmosphere, Panama should be on everyone’s “short list” for retirement meccas. AARP has named Boquete, Panama as one of the top places to retire abroad. The growth in the real estate market in Boquete highlights the Panamanian potential as a long-term retirement or investment option.
Judy Chartrand
Why Is a Panama Retirement Such a Valuable Choice? The Reasons Are Below:
In the last several years, Panama has made a concerted effort to attract expats, especially retirees, to become part of Panamanian life. The results of this effort has definitely increased the extrinsic and intrinsic values of this Central American country as a retirement choice. Below are some of those highlights:
Panama Is the Complete Retirement Package
- Climate: Panama has a range of climate choices that can meet any retiree’s requirements. From the cool mountain temperatures of areas like Boquete and Santa Fe, to the tropical beachfronts of Panama City, to the island breezes of the Las Perlas and San Blas Island groups, finding that perfect blend of weather and temperature is far easier than in many other tropical locations.
- Culture: It is very easy to become immersed in Panamanian culture. The rustic towns, like David and Chitre, offer a welcome change from the larger urban setting of Panama City. The Azuero Peninsula, with towns like Pedasi and Las Tablas are widely recognized as Panama’s cultural and historical heartland that retirees are beginning to discover for themselves.
- Getting There Is Easy: Panama is easily accessible from the U.S. and Europe. With direct daily flights from fifteen U.S. cities, on international carriers such as United, Delta, American, and Copa, being able to fly to your tropical getaway is both affordable and easy to arrange. Domestically, Air Panama is expanding its service to new locations, such as Pedasi.
- Becoming a Resident Is Easier Than Ever: The Specific Countries Program that has been in place since 2012 has made it possible for holders of U.S., Canadian, and European passports to become residents within six to eight months. The process itself is relatively uncomplicated. Learning about the residency process and the straightforward requirements is just another part of understanding why Panama is a great choice.
- The Currency Is Familiar: Although Panama’s official currency is the Balboa, the country has been using the U.S. dollar as legal tender for all transactions for quite some time. Not having to negotiate currency exchanges or understanding how to convert the price of something into U.S. values not only is more convenient but also makes price comparisons easier as well.
- It Pays to Be a Retiree in Panama: Once you have qualified for the pensionado (retirement) visa, there are a lot of money-saving discounts that you can qualify for. Here is a partial list that clearly demonstrates how affordable retiring in Panama can be.
Magda Wojtyra
| Discounts |
| 50% discount on entertainment anywhere in Panama (movies, theatres, concerts)30% discount on bus, boat and train fares25% discount on airline tickets50% discount on hotels from Monday to Thursday25% discount on hotels from Friday to Sunday25% discount in sit-down restaurants
15% discount in fast food restaurants 15% discount on hospital bills (if no insurance applies) 10% discount on prescription medications 20% discount on medical consultations 15% discount on dental and eye exams 20% discount on professional and technical services 50% discount on closing costs for home loans |
Retirees are also entitled to a one-time tax exemption, up to $10,000, to import household goods. Additionally, there is a tax emption every two years for the purchase or importation of a personal vehicle.
Nelson de Witt
Panama Is a Great Place for Retirees to Invest and Prosper
Panama stands out as one of the very few Latin American locations where retirees can anticipate a strong return on their initial investment. Between a growing real estate market, favorable pricing, and active government support to make Panama an attractive place for expat dollars, the long-term potential for the growth of your retirement nest egg is strong.
- Increasing Housing Prices – Like most of the world, Panama’s real estate market suffered during the financial downturn of 2008. In the last few years the market has rebounded, making investing in property a solid proposition for financial growth and a good return on your initial purchase price.
While there are some areas where larger foreign developers have purchased large tracts of property based on the speculation of what they might be worth when fully developed, purchasing your retirement retreat can still be done for a reasonable price. The continued rise in property values will, in turn, add to the return you can expect when you decide to sell.
- Reinventing Yourself – Unlike its neighbors, Panama actively supports skilled professionals and investors who want to work and contribute to the Panamanian economical revival. Under the Specific Countries Program (mentioned above), obtaining a work permit is straightforward. The program is somewhat controversial, however, and checking with a skilled immigration attorney is an important step in the process.
- Favorable Real Estate Tax Structure – Property taxes in Panama are far less than those you would expect in the US. The tax basis is the value of the land and declared value of any improvements. The maximum tax rate is only 2.10%. Importantly, the government offers a generous property tax exemption for residential properties.
For properties whose value is $100,000 or less, taxes are exempt for 15 years; between $100,000 and $250,000, ten years and, for values above $250,000, five years. For most retirees, the prospect of not having to pay any property taxes for an extended period, translates into a tangible uptick on the money they will have to spend elsewhere.
Panama’s Value Combines the Tangible and Intangible Elements for Retirees
Taking the time to research the Panamanian potential should be a part of your retirement planning. As you look into what the country offers, visit and explore the various regions, and experience Panamanian life, you will truly understand the value that a Panama retirement can hold for you.
Traveling to, or living in, a foreign country can be an exciting and life-changing experience. However, theft can, and sometimes does, happen and that can turn that idyllic scenario into a nightmare. Learning some easy steps for keeping safe can save both time and money later on.
Understanding the reasons why theft is so commonplace, and how to guard against it, are important tools for anyone looking for a tropical escape to move to. By taking some simple precautions, you can protect your belongings and your peace of mind throughout Latin America and elsewhere.
Alex Lane
Why Does Theft Happen to Expats?
First and foremost, the average income in most (if not all) Latin American countries is far less than the U.S., Canada, or Europe. This is not to say that these countries are poorer; a real argument can be made that for all that may be lacking in material or monetary measures, it is more than made up for in terms of a more relaxed and healthier lifestyle and outlook on life in general.
Nonetheless, when tourists, expats, and even seasoned investors visit these areas, they often become the focus of those individuals looking for expensive items (cameras, laptops, cell phones, etc.) that would not be otherwise obtainable. This is not much different than could be encountered in any tourist area in the world; just because the weather is tropical, and the pace is relaxed, doesn’t mean theft can’t or won’t happen.
Magda Wojtyra
Enforcement Is Easier Said Than Done
A second major factor contributing to foreigners becoming the victims of theft is the simple fact that local police authorities are usually undermanned and often view property theft as a less serious matter. Even in those areas where there is an active police presence, such as beaches or resorts, the incidence of theft of personal belongings is still high.
Reporting a theft can be a challenge in and of itself. If you are not conversant in the local language, usually Spanish, trying to make a complaint can be a frustrating experience. Even calling 911 (or the local equivalent) may not generate a response for hours; again, this lack of a rapid response is not dissimilar to that in many U.S. cities.
Even if the police catch the thief, or thieves, the chance of getting your property back is slim to none. In many cases, when something is stolen, it is a crime of opportunity. If the thief can’t use it or sell it, the item(s) will be tossed by the side of the road or in the garbage. It also isn’t uncommon that these “banditos” are known to local authorities and could be let off with a stern warning not to do it again; suffice it to say, that’s a warning that falls on deaf ears.
Added together, these factors make it understandable why the potential for theft from tourists and expats is considerable. However, the existence of the problem does not make it an inevitable occurrence.
What Are Target Items?
Obviously, cash and credit cards are number one on thieves’ lists. Right behind those items are passports; there is a growing market for foreign passports, particularly U.S. and European, that has made these identification documents very desirable targets.
Electronics of all kinds, computers, laptops, tablets, digital cameras, cell phones, etc., have long been high on the list of items stolen. Even older models may be viewed as “new” in countries where the ability to buy such products is limited.
Finally, any other personal valuables such as jewelry, clothing, or even shoes can be targets. If it can be used or resold, it might be worth taking.
bartb_pt
Preventive Measures – Reduce Your Risk
There are a number of common-sense approaches to keeping safe throughout Central America. Some areas are safer than others, of course, and the same can also be said of most populated areas in the U.S. and Europe. But in a real sense, location does matter here – more than in other parts of the world.
Here are some tips to help you lower your “theft profile:”
Know Where You Are.
Learning what areas of the city, town, or village you’re staying in are the “rough” parts is often as easy as speaking to other expats, talking to local residents, or checking social media. Avoiding these locations or limiting the time you spend in them (if you have to/want to be there) is a major way to reduce your potential for being robbed.
Avoid Cash and Flash.
Leaving expensive items such as cameras, tablets, and cell phones out in the open is often an invitation to having them stolen. Too many times people will bring their electronics to areas such as the beach, leave them on their towels or beach chairs unattended and, upon returning from a swim in the ocean, discover that those items are gone. It may seem obvious not to do that kind of thing, but it does happen far more often than you might expect.
Similarly, flashing a large amount of money in places like clubs or bars is not a wise idea (in any location in the world). Just because you may not be paying attention doesn’t mean that others aren’t. A related matter would be leaving purses or wallets exposed without someone watching them; again, this happens far more than you might imagine.
Locks Are Good Things – Use Them.
For many expats, living in paradise means being more relaxed, not having to worry about security, and enjoying the tropical experience. This is certainly a romantic vision and one that, unfortunately, ignores some basic realities.
Always keep your car locked when you park it, especially in high tourist areas. Even with police being present, an unlocked car or truck is an open invitation. When there are crowds clamoring to see the sights, it is unrealistic to expect that security or police can (or will) watch everyone. On a related note, don’t leave valuables or luggage in your vehicle unattended; again, this is like putting a “welcome” sign to thieves looking for an easy score.
Even though it may feel wrong, use the locks on your residence. Expat residential areas are often scouted for those places where a simple, unlocked door can provide a gateway for the treasures within.
Keeping Safe Makes Life Easier
Being an expat, immersing yourself in new cultures, and enjoying the potential that life in the tropics holds can be the most rewarding experience one can have. Using common sense when it comes to you and your belongings can make your expat life easier and more enjoyable. The world is out there; travel safe and enjoy the journey.
Panama is becoming increasingly well-known as a top eco-tourism destination. Viva Tropical sat down with Oscar Peña Sanchez, Manager of Explora Ya, Boquete’s top eco-tour and adventure travel company to find out why Panama consistently ranks above the rest.
BGI
Please tell us briefly about Explora Ya and the adventures you offer.
Explora Ya is an eco-tourism company dedicated to providing not only tours but “EXPERIENCES”; we are a company with a beautiful goal and that is to show the best of Panama and the Chiriqui province. We want to have a positive impact on our community and every single traveler visiting us.
We value the big effort travelers make by taking the time off and also spending their savings to enjoy and get to know the culture of Panama in general, so the best way we can honor that is to make sure they leave Panama with positive and amazing experiences!
Much of Panama has an exploding eco-tourism scene. Can you explain to our readers why Chiriqui is especially important?
This is a very good question. Chiriqui is one of the most important provinces in Panama for a number of reasons. Because of its location we can be in the mountains of Boquete drinking one of the best coffees in the world and then after a short drive we can swim in the warm Pacific Ocean. Chiriqui is also very rich when it comes to food production. We always have the highest quality fresh green veggies.
Chiriqui is a very dynamic place to travel and now even more since Copa Airlines opened a connection flight from Tocumen Airport. So our travelers, if they plan well, don’t need to stay an extra night in the city to make it to Chiriqui, which helps save them some time and money.
The variety of weather is another big part of why Chiriqui is the best province to visit or retire in many cases. Boquete for example is around 3,473 ft above sea level, so the temperature here is always fresh, but not too cold, and people feel very relaxed. The weather is pretty much always the same since we are near the Equator.
What are the most popular areas for eco-tourism in Chiriqui?
To be honest, all of them! From Boca Chica you can take a boat and visit beautiful islands with white sand and amazing snorkel spots. You can see sea turtles, colorful fishes, and humpback whales from the months of July until early October. Also there are many other islands like Boca Brava and near the Chiriqui Gulf, which is growing very fast in terms of eco-tourism.
Boquete for sure is the most beautiful boutique town. This town literally has almost everything: a nice amount of good restaurants, several trails for people to hike or do the best bird watching. We have a good amount of trained guides to ensure amazing experiences and spot the best of it.
The Baru Volcano is the Giant and center of attraction for many hard-core hikers or people who enjoy adrenaline by going up on a Jeep 4×4 or ATVs. We celebrate the famous Baru Eco-fest which invites a lot of people to challenge themselves to go up and down in a short time but under supervision of security like paramedics and emergency groups.
Generally speaking, Chiriqui has a little bit of everything for everyone. Other destinations are great beaches like Las Lajas, and also Puerto Armuelles which is located near the border to Costa Rica and is getting more attractive for travelers and expats. It has great fishing and also nice beaches to swim in.
Tell us how Explora Ya is adapting to Panama’s eco-tourism growth.
Explora Ya is progressively making sure we promote more activities that involve being in touch with nature, but in a safe way for our environment. We are aware of how we can have either a positive or negative impact on nature, depending on how developed the activities are here.
I do remember when I got here almost six years ago eco-tourism was not that explored and there were not many options. It wasn’t so easy to spot a Resplendent Quetzal, which is a rare bird originally from Guatemala that has found home in the mountains in Chiriqui. This bird can be spotted from Cerro Punta to Boquete in several trails, and we make sure this bird and all the rest of them are protected.
It’s very much ingrained in the culture of Panamanians to adapt and take ownership of the natural reserves and be part of the growth in Panama.
Finally, what advice can you give to future visitors to Panama and especially to those who are planning a visit to Chiriqui?
First of all, planning ahead always is very helpful regardless of which activity you are going to do or which place you’re going to visit. Make sure you bring the gear necessary to fully enjoy Chiriqui. It is also very important to do research on different tour companies and make sure you always have a guide who’s certified by SINAPROC (National Civil Protection). After that just enjoy the ride!
Explora Ya is an official ATP Licensed operator. Its tour office is downtown in the heart of Boquete. You can find out more about the experiences they offer by clicking here.
A recent article in The Guardian noted: “Global debt has grown by $57 trillion to reach $199 trillion in the seven years following the financial crisis – a 40.1% rise, according to a new report.”
What this translates into is that global debt is now 286% of the world’s Gross Domestic Product, or GDP. GDP is the monetary value of a country’s (or in this case the world’s) finished goods and services that have been produced in a given time.
While these figures reflect the economic situation of governments, individuals too can be expected to feel the crushing impact of what is, obviously, an unsustainable debt load.
Under these circumstances, becoming an expat and owning property abroad is more than just a sound investment hedge against this economic shadow; it is a way of rediscovering what truly matters and having the opportunity to pursue those ideals.
epSos .de
Why Global Debt Should Matter to You
Global debt has many far-reaching implications that transcend the international geo-political scene. Though usually referred to by the media (both mainstream and alternative) in terms of governmental policies, this massive borrowing bubble could profoundly impact individuals’ savings, retirement, and investment portfolios in ways that seem almost unimaginable. Below are several of the major reasons that global debt should matter to you.
Haircuts Are Coming into Style
Much reporting has been done on the recent debt crisis in Cyprus and the resulting “haircuts” that savers and investors endured. However, not many people truly understand what a “haircut” means.
In simple financial terms, a “haircut” means taking a loss on an investment i.e. to receive or accept less than the face value of what is owed. An example of this concept would be if a government borrowed money from institutions and was not able to pay it back. Instead, the government offers to pay only $0.25 on every dollar owed. A bond, with a face value of $1000.00 (the purchase price), would now only be worth $250.00. Investors who “loaned” money (in the form of purchasing government bonds), would have to take a “haircut” of $750.00.
The recent situation in Cyprus is a prime example of how “haircuts” can dramatically impact individuals. There, the government ordered that bank accounts, in excess of 100,000 Euros, would have to take a haircut of 37.5%.
Put another way, if someone had a banking account with 100,000 Euros, the cash value of that account (the amount that could be withdrawn) was reduced to 52,500 with the remainder being made up of shares in the bank that could only be sold at whatever the market value would be. In practical terms, 37.5% of those accounts is now gone and the remainder will be subject to the whims of the marketplace.
As global debt continues to grow, other governments, including the U.S. and other European nations, may consider similar approaches to make up their monetary shortfall.
Freezing Assets and Other Chilly Prospects
Imagine walking into your bank to make a withdrawal and being told that you couldn’t because the government was freezing all accounts. That is exactly what happened in Cyprus. In order to “stabilize” the financial situation, the Cypriot government essentially prevented depositors from taking any money out of the banks.
When money is deposited in a savings account, the bank agrees to pay interest on those funds in exchange for having those sums available to the bank; in a real sense, savings accounts are a kind of “investment.” What happened in Cyprus was that the banking system ended up “owing” more to the depositors than it had. As a result, the only way to avoid total collapse was to keep all the money.
Similarly, other investment options, such as stocks, are also vulnerable to rising debt. Purchasing stock is giving money to a company with the promise that, at a later date, those stocks could be sold for a higher price than they were paid for. If a company’s debt becomes too high, dividend payments (like interest in a bank account) may be withheld or cancelled and, in a worst case scenario, the stock becomes worthless and the whole investment is lost.
Money, Currency and Wealth – Three Different Things
Though the terms “money,” “currency,” and “wealth” are often used interchangeably, their actual meanings are vastly different. When talking about global debt, these differences matter a great deal.
Money can be basically defined as a medium of exchange between buyers, sellers, producers, and consumers of material goods. Currency refers to a particular monetary system used within a country or other political unit.
Wealth is, by far, the most nebulous of these three items. It is defined as the measure of valuable items. Wealth can also be extrinsic (money in the bank, personal property, etc.) or intrinsic – the actual value of something, not just its price tag. Global debt has created only extrinsic wealth that consists of numbers on a ledger. Those numbers often cannot be supported by actual value when investors want their return paid out.
Playa Real
The Expat Advantage – Owning Property in Paradise
Aside from the opportunities to live abroad, immerse yourself in a new culture, live healthier, and rediscover yourself, there are real economic advantages to buying property in Latin America. Here are a just of few of those benefits:
Real Estate Is Both Real and Finite
There is an old saying that the reason property is so valuable is that they’re not making any more of it. As a result, land ownership carries a permanent value. Since it is a real, tangible asset, investing in it can be a real hedge against the growing debt crisis. Also, real estate has an intrinsic value; it exists, and it can be your paradise and security. Those are measures of wealth that far surpass anything on a balance sheet.
Central America Welcomes Expat Investment
Central American countries have actively created environments that promote expat investment. The rights of foreign property owners are, in many cases, identical to those held by a country’s own citizens. Favorable residency laws, discounts, and lower tax rates also make buying and living here a desirable alternative to staying in the U.S. or Europe.
There Are Bargains and Opportunities to Be Had
As the trend towards development sweeps through Central America, the affordability of property (especially parcels that are undeveloped or underdeveloped) is still quite good. For investors, this is an ideal situation where a lower initial outlay of funds can be expected to result in a good return on investment. Importantly, buying real estate in these tropical destinations carries much less risk than other options, such as stocks and bonds.
Best Jaco
Taking the First Step
Like any investment, buying and owning property in one of these tropical destinations does have challenges and some risks. Being an expat is not necessarily for everyone. Daring to reinvent oneself and rediscover the joys of learning a new culture and lifestyle may seem overwhelming.
How to discover if becoming a property owner in one of these tropical locations is right for you? Check out the kinds of residences, lots, and properties that are on the market. Above all, do some research and, if a country interests you, go there and visit – maybe more than once. You may discover that you don’t have to find paradise – paradise may find you.
With all the attention being focused on this area being a prime location for retirees and expats, many people are asking: Where is Panama? Discovering the special qualities of this country and learning about the potential there is a great way to decide if Panama is a place you should consider for your tropical escape.
Long overshadowed by its neighbors, Panama is coming into its own as a great place to invest, retire, or simply visit. With a streamlined residency program, easily obtained work permits, and use of the U.S. dollar as currency, Panama has become a prime location for investment, retirement, or reinventing oneself.
ThinkPanama
Answering the Geographic Question: Where Is Panama?
Panama is located at the end of Central America between Costa Rica and Colombia. The country is small – approximately 772 miles in length and only 37 miles wide at the most narrow part; this is roughly the size of the state of South Carolina.
This isthmus is the connecting link between North and South America and, of course home to the Panama Canal which connects the Atlantic and Pacific Oceans. Being so narrow, it is possible to visit both Atlantic and Pacific coasts in a single day.
When you visit Panama’s highest point, Volcán Baru, you are actually able to see both oceans at the same time. This is only one of three places on the planet that this is possible.
Mónica Mora
What About Getting There?
Panama is probably the most “connected” country in the region. In addition to the main international airport, Tocumen International Airport in Panama City, there are over thirty smaller regional airports throughout the country that handle domestic travel as well as charter flights. There are also three heliports in the country and plans to build an international airport on the Pacific Coast are under discussion.
Most major cities throughout Latin America and the Caribbean have regularly scheduled flights into Panama. Combined with flights from the United States, Europe, and South America, getting to Panama is easier than you might have thought.
Phossil .
Time and Distance
Looking at Panama’s location in relationship to other countries and cities is a great way to answer the question: Where is Panama? Below are some major cities, listed by continent, showing the distance from Panama and the time to fly to this tropical destination.
North America
| City or Town | Distance | Flight Time |
| New York City | 2220.69 miles | 5.5 hours |
| Miami | 1161.42 miles | 3 hours |
| Houston | 1765.98 miles | 4 hours |
| Los Angeles | 3006.67 miles | 7 hours |
| Chicago | 2328.52 miles | 5 hours |
| Atlanta | 1,727.29 miles | 4 hours |
| Mexico City | 1498.63 miles | 3.1 hours |
| Washington DC | 2075.57 miles | 5 hours |
| Toronto, Canada | 2395.88 miles | 5 hours |
South America
| City or Town | Distance | Flight Time |
| Rio de Janeiro | 3304.46 miles | 6.75 hours |
| Quito | 637.98 miles | 1.5 hours |
| Buenos Aires | 3317.48 miles | 6.75 hours |
| Caracas | 875.10 miles | 2 hours |
| Bogota | 462.2 miles | 1.1 hours |
| Lima | 1437.8 miles | 3 hours |
Central American and the Caribbean
| City or Town | Distance | Flight Time |
| Managua | 526.1 miles | 1.25 hours |
| Guatemala City | 841 miles | 2 hours |
| San Juan | 1112.6 miles | 2.5 hours |
| Havana | 1021.1 miles | 2.25 hours |
| San Jose | 318.85 miles | 1.1 hours |
Europe and Asia
| City or Town | Distance | Flight Time |
| London | 5292 miles | 11 hours |
| Paris | 5386.38 miles | 11.25 hours |
| Amsterdam | 5489.6 miles | 11.5 hours |
| Madrid | 5093.1 miles | 10.5 hours |
| Tokyo | 8418 miles | 17.5 hours |
| Rome | 5912.2 miles | 12.25hours |
| Sydney | 8806.58 miles | 22.5 hours |
And for Those Truly Wondering Where Panama Is in Relation to Important Global Points
| City or Town | Distance | Flight Time |
| The North Pole | 5603 miles | 12 hours if there were flights |
| Antarctica | 6564.22 miles | 13 hours if there were flights |
Where Is Panama in Terms of Your Future?
Knowing how far Panama is from major worldwide hubs, and how long it would take to fly there from those distant locations, is only one part of answering the question: Where is Panama? Begin by doing some research about this special country and decide where Panama is in terms of your ideas for retirement or investment.
Even better, plan a trip to Panama and see for yourself exactly where it may be located in your plans for investment, finding a place to retire, or becoming a favorite vacation spot. Panama is so much more than just a spot on the map; it may well be the dream location that you have been scouring the map to discover.
Peter Chapman, Financial Times reporter and author of Bananas: How the United Fruit Company Changed the World, joins the show to discuss a fascinating history of Central America known by few. This is an intriguing story that has inspired many from the Latin region to speak up, from Che Guevara to Pablo Neruda.
He covers the rise of United Fruit Company, one of the most powerful companies in the world during the early to mid 1900’s, and its integral part in forming many of Central America’s nations. For 100 years the company controlled most of the region; they rigged elections and massacred people, all while building their banana empire.
Peter also talks about how United Fruit Company set the blueprint for multinational companies today.
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Show Notes
Congratulations! You’ve made up your mind to go expat. Your expat status is imminent. But there’s still a looming question repeating itself in the back of your mind. “What do I need to know that I don’t already know about expat living?” There’s only one answer. Read to succeed. Then write a book based on your own personal experience.
SMS
Read Expat Books
This was my advice to John and Jessica. John Ellington and Jessica Horne met in Ecuador during a college study program abroad. Three kids and twenty-one years later, they’re acting on their dream of moving abroad. John says once they started a family, he doubted they would ever make it happen. But Jessica’s desire to raise their kids outside the U.S. grew stronger as their middle child entered school. This year the Ellingtons decided to place their family home on the market. They knew the real estate sign in the yard would be the catalyst to focus them on the move. John and Jess spent their honeymoon in Ecuador. And they vacationed several times throughout the years in Central America. They fell in love with the Latin lifestyle and culture. They had no doubt they wanted to move to Central or South America. But like all soon-to-be expats, their minds were bombarded with questions. “Where’s the best place to rent or invest? How do we go about buying property? How can we grow our income?”
The Expat Learning Curve
John and Jess sensed they were facing a big expat learning curve. Investment incentives, education, cost of living, health care, residency and visa requirements were all crucial elements. Where could they find the answers? Who could help guide them to expat status? In his search for answers, John stumbled across Viva Tropical’s free eBook, Pay Dirt. Drawn there by the Adventure Colony Lifestyle in Panama, John had uncovered the expert expat advice he was so desperate for. But still the overriding question loomed: “What else do I need to know about expat living?” So, I referred John and Jess to expat interviews with expats on the ground in Panama. And I pulled together this list of expat guides and handbooks (which you can see on Pinterest) that all potential expats should find helpful.
Pete
8 Expert Expat Books You Must Read
These are based on real-life expat experiences. They cover issues and concerns that confront all expats in their move abroad.
1. The Expert Expatriate: Your Guide to Relocation Abroad
This book tells you pretty much everything you need to know about relocating abroad. Melissa Hess and Patricia Linderman detail what to do before the move, during the move, and how to settle in.
2. Retirement Without Borders: How to Think About Retiring Abroad–in Mexico, France, Italy, Spain, Costa Rica, Panama, and Other Sunny, Foreign Places
Author Barry Golson knows a lot about retiring in foreign places. He and his wife have lived in six beautiful countries. His how-to-guide covers major expat issues like health care, finances, real estate, taxes, and immigration. You’ll get the facts from Barry and his team of resident expat writers who now call these foreign countries “home.”
3. Living and Retiring in Cuenca: 101 Questions Answered
A soon-to-be Cuenca, Ecuador expat describes this book as an “invaluable resource.” He writes: “Connie has taken the information that has taken me over a year to gather and distilled it into a well-organized and enjoyable read.” Perhaps you know nothing about why Cuenca is called the “Emerald of South America.” Or maybe you know exactly why it’s a new hotspot for expat living. Either way you’ll benefit from the Q&A.
4. Costa Rica Chica
One reader described this book as “just plain fun reading.” She says the author “did a great job of bringing the reader right into their lives in Dallas, their process of deciding whether or not to move, and then their actual move.” In her early 40’s, Jen Seymour quit her job and sold everything. She and her husband, Greg, packed 9 suitcases and headed for Costa Rica to retire early and simplify their life. Find out how they did it and why they’re so happy they made the move.
5. The Gringo Guide to Panama
Business executive and world traveler Elizabeth Vance relocated to Central America in 2008. Elizabeth introduces you to the realities of expat life in Panama. Find out What to Know Before You Go (Book 1) and what More to Know Before You Go (Book 2).
6. Third Culture Kids, Revised Edition: The Experience of Growing Up Among Worlds
Some say this book explains exactly how they feel. A book about living your formative years outside your birth country. David Pollock will enlighten you and your kids about the emotional tolls of expat life on children. Learn how moving abroad impacts personal development and identity.
7. Here We Are There We Go–Teaching and Traveling with Kids in Tow
Jill Dobbe’s travel memoir details the trials and tribulations of traveling abroad with kids. Overseas educators Jill and Dan (and their young kids) travelled, lived, and worked in over 25 countries over 10 years, including a remote Pacific island and Africa. Their return to the U.S. with teenagers is living proof it can be done.
8.The Grown-Up’s Guide to Running Away from Home: Making a New Life Abroad
In this guide for mid-life adults moving abroad, Roseanne Knorr provides detailed advice on topics like how to choose a destination, finances, and maintaining family relations stateside. Access interviews with other expats and gain the courage to chase the overseas adventure you’re hungry for.
If you haven’t yet chosen your destination, you’ll want to subscribe to receive the Viva Tropical eBook, Top 50 Places, coming soon. This new expert expat book will provide information on how to choose a destination, cost of living and finances, international health care, and working abroad. Meanwhile, visit the Viva Tropical Book Store for more recommended expert expat books. And I wish you all the best for your expat journey!
Expats and retirees have been retiring in Costa Rica for many years. The obvious benefits – great weather, beautiful beaches, and growing expat communities are well known. But some of the best things about relocating to this Central American paradise are those you might have never considered.
Finding information about Costa Rica and what it offers is easier than ever before. Discovering the potential that it holds is a journey that varies from person to person.
Oha
Hidden Gems in a Costa Rica Retirement
Some of the best aspects of retiring in Costa Rica are intangible in nature. Along with those features, Costa Rica does have many opportunities to reinvent yourself or invest in the future; truly a number of ways to make those “golden years” even more golden. Below are some of those things you might not have thought of when considering a Costa Rica retirement.
The Rhythm of Life
There is something that happens to people when they move to Costa Rica. Time takes on a different perspective and you find yourself feeling less urgency about getting things done.
This, in turn, reduces stress and allows the body and the mind to truly relax. Modern medical science has shown that lower stress has a variety of health benefits. In a real sense, the Costa Rican lifestyle can add years to your life and provide a better understanding of what truly is important and what is just “small stuff.”
Fewer Processed Foods Means Healthier Eating
Unlike the U.S., Canada, and Europe, there are far fewer processed foods to be had in Costa Rica. With the absence of golden arches on every corner (metaphorically speaking), food choices tend to be healthier with local fruits and vegetables taking the place of the products of large commercial farms.
Almost by default, you will find yourself eating less and eating healthier than you might back in the States. If you’re worried about dieting, retiring in Costa Rica can be one of the easiest ways to shed those pounds and those bodily toxins.
Paradise Is Easier to Reach Than Ever Before
One concern many expat retirees have is being able to visit their families back in the States or having family members visit them in their tropical escape. Costa Rica may just be the most accessible Central American country in terms of flights to and from the U.S., Canada, and Europe.
With two modern international airports, one in San Jose, the other in Liberia, finding affordable flights to and from most major cities is as simple as the proverbial click of a mouse. Importantly, as Costa Rica’s popularity continues to grow, more carriers are scheduling flights or expanding existing operations, which makes staying connected easier than you might think.
Didier Baertschiger
And, Speaking of Staying Connected…
Costa Rica continues to expand and improve its cable, cellular, and internet services. High speed internet access is readily available throughout much of the country – something that is unique among its Latin American neighbors.
Cable and satellite services carry many U.S. channels and shows and offer packages similar to those found in the States. There are also choices in cellular phone services that cover most of the country. Being able to stay connected to those back home, while enjoying the pleasures of a tropical retirement, is truly the best of both worlds.
Be One With Nature
Finding a retirement destination that is clean, eco-friendly, and dedicated to preserving all of the beauty of the natural world is a dream many expats have. Costa Rica has consistently been ranked as one of the cleanest and “greenest” countries in the world. Being one with the environment is an aesthetic benefit that can and does enrich the concept of what retirement is all about.
Costa Rica has been mentioned as one of the Blue Zones (those places where the lifestyle and environment are conducive to longer lives). When you choose a Costa Rica retirement, you may also discover that there are more years (and adventures) that await you than you could have dreamed of.
Beach, Rustic, Mountain, Cosmopolitan? So Many Lifestyle Choices
Costa Rica is definitely not a “one size fits all” destination for your retirement. Containing pristine beaches, small rustic “tico” villages, stunning mountain vistas, secluded tropical rainforests, and modern, cosmopolitan cities, you can truly customize the kind of retirement lifestyle that you are seeking.
Whether you are looking for established expat communities, like those in Escazu; the quiet mountain villages of the Central Valley; the beach lifestyle of Tamarindo, Jaco, or Playa Flamingo; or the laid-back Bohemian vibe found in places like Nosara, your retirement choices are more diverse than in other tropical locations. The choice, truly, is yours.
Potential for a Good Return on Retirement Investment
Although Costa Rica has been on the radar of expats and retirees for over a decade, there are still plenty of investment opportunities that exist. There are both residential and commercial properties throughout the country that could provide the opportunity to grow your investment/retirement dollars.
The improvements in infrastructure, such as the new (2010) highway along the Pacific coast, have opened up new areas for development. Uvita, Dominical, and other locations in the southern Pacific zone have become destinations for those looking to build their own tropical retreat and/or investment projects.
Stable Government Means No Expat Surprises
Costa Rica is in the enviable position of having one of the most stable governments throughout Latin America. For retirees, this stability translates into a security that there won’t be any surprises in terms of changing policies that have created uncertainty for many expats in other countries.
Roger
It’s About the Benjamins…
The U.S. dollar is accepted throughout much of the country, making shopping and other transactions easy. There are any number of ATMs throughout the country that you can access both colones (the Costa Rica currency) or U.S. dollars.
The knowledge that you can get to your funds easily and conveniently adds a layer of security for retirees who may be concerned about the ability to replenish their cash from time to time. Also, most major credit cards, such as Mastercard and Visa are also accepted at stores and restaurants as readily as they would be back home.
The People
Last, but by no means least, are the people of Costa Rica – the ticos and ticas. Friendly and welcoming, Costa Ricans can make your transition to a retirement life in paradise easier than you could imagine.
It is often said that Costa Rica is one of the happiest places on earth. The people who live in this Latin American gem certainly are proof of that.
Discover These Treasures for Yourself
It is a testament to all that Costa Rica offers that it remains as one of the most desirable places to retire on Earth. Take the time to visit this unique Central American destination, research the possibilities, and see for yourself what a “pura vida” retirement could be like.