How do I get to Panama?

Panama has become an international hub for land, ocean and air transportation. The easiest and fastest way to get to Panama from the US is by air. There are several first-class airlines flying from Houston, Los Angeles, Miami, New York and other US international airports with direct flights to Panama. Flying from Miami, for example, will have you in Panama in less than three hours, and from the airport, you can be at your chosen hotel in less than 30 minutes. From there, you can drive and be in Rio Mar within one hour.

Can quality healthcare be obtained in Panama?

Panama is able to provide the very best healthcare services and attention in the region. Panama City has several world-class hospitals, and many of their doctors have been trained in the US and are bilingual. Hospitals such as the Punta Pacífica hospital, affiliated with Johns Hopkins Medicine International; the Paitilla Medical Center hospital, affiliated with the Cleveland Clinic; and the San Fernando and Nacional hospitals, all within an hour from Rio Mar, feature state-of-the-art technology and equipment, and their doctors, nurses and technologists are highly trained. Consequently, they are able to provide excellent attention in a very broad variety of specialties to meet everyone's needs. One important aspect is the fact that all the procedures, services and attention can be had at much lower costs than in the US and other areas. These cost savings have contributed to Panama becoming a health tourism destination as people needing medical attention can obtain medical and dental services at substantially lower costs while enjoying a vacation in the country.

Is Panama a safe place?

Yes, it is. Panama is considered as one of the safest countries around the world, and has the highest rating from the prestigious Pinkerton Intelligence Agency for tourist safety, and mentioned as such in renowned magazines like International Living. As in most countries, however, you should take sensible measures to ensure that you don't encounter any unpleasant experiences simply by avoiding going into poor areas where it is not wise to walk around in, especially at night, or to flash large sums of money or expensive jewelry.

What currency is used in Panama?

The US Dollar has been the legal currency in Panama since 1904 and, consequently, there are no currency exchange problems to deal with. Additionally, its use has allowed Panama to have an inflation rate of less than 2.5%, with no fears of devaluation, and contributes to having the most stable economy in the region. In fact, Panama's economy is growing at the rate of approximately 7% per year.

What about electricity and Panama's infrastructure?

As in the US, Panama's electricity is the same at 110 volts/60 cycles, which means that all the electrical appliances that you bring to Panama can be used as is. Panama also has one of the world's most developed state-of-the-art fiber optics communications system; cable TV; telephones, both fixed and cellular, and high-speed Internet service. International long-distance calls are at very economical rates, and connections are instant every time, all the time.

What kind of visa do I need to reside in Panama?

If after visiting you decide to move to Panama, the simplest type of visa is the 'Pensionado' or Retiree Visa that can be obtained by proving that you have a minimum monthly income of US$600.00, regardless of your age. We will be more than glad to assist you with additional visa information to suit your needs.

As a foreigner purchasing property, am I protected under Panama's laws?

Absolutely! Unlike other countries, foreigners who buy property in Panama have all the very same rights and protection as Panamanians as established in the Investment Stability Law No. 54 of July 22, 1998, guaranteeing equal protection for national and foreign investors.

What incentives do retirees have?

Panama offers several advantages in its special laws created for the benefit of retirees, among which are a series of discounts as shown below:
1. A one-time import duty exemption on household or personal goods up to US$10,000.
2. Import duty exemption every two years on vehicles for personal use.
3. 50% discount on fares for theaters, sporting events and concerts.
4. 25% discount on the value of food at restaurants, not including liquor.
5. 15% discount on the value of food at fast-food establishments.
6. 10% discount on the value of medications.
7. 25% discount on the monthly energy bill.
8. 25% discount on the monthly phone bill.
9. 20% discount on medical consultations and surgery.
10. 15% discount on dental services.
11. 15% discount on optometry services.
12. 50% discount on hotel bills, Monday through Thursday, and 30% on weekends.
13. 25% discount on airfares, and 30% discount on other transportation.
14. Property tax exemption if it is the retiree's sole residence.

What is Panama's climate like?

Panama's climate is tropical, and has two seasons: the rainy season and the dry season. The rainy season runs from May through November. However, at Rio Mar the rainfall is less which means more sunny days to enjoy. The dry season is from December through April, considered to be the main tourism season and the best for sporting activities, including golf, fishing, rafting, kayaking, scuba diving, snorkeling, bird watching and many more. Temperatures in Panama run between 75ºF - 90ºF in the lowlands, including Panama City, but are cooler at night. Temperatures in the highlands and mountains are much cooler averaging 45ºF - 65ºF.

Do major natural disasters occur in Panama?

Panama is blessed in that respect as it is free from major natural disasters, including earthquakes, hurricanes, tornadoes and other destructive phenomena. Occasionally, a light tremor may be felt in Panama City, but its center is generally hundreds of miles away, and is no cause for concern.

How does the cost of living in Panama compare with other countries?

Panama's cost of living is much lower than in the US, Canada or Europe. Many foreigners residing in Panama have found that their living expenses are reduced, and they can afford to enjoy the lifestyle they want at much lower prices than in their countries of origin and still have money left over. In Panama, they can afford to have a full-time live-in maid for approximately $150 - $200 per month, enjoy fine dining at first-class restaurants and entertainment, all at a fraction of what they would cost in other countries.

What about Panama's banking system?

Panama has one of the most recognized and respected banking systems in the region, with over 80 international banks providing multiple services, and the use of the US Dollar makes transactions convenient and simple as there are no currency exchange problems or devaluation fears to deal with.

What type of government does Panama have?

Panama has a democratically elected government, and maintains political and social stability to ensure that the country progresses and meets its goals. With this stability in place, investors are protected under the Investment Stability Law No. 54 of July 22, 1998, that guarantees equal rights for national and foreign investors alike.

Should I decide to move to Panama, what about my car and household goods?

Among the advantages that Panama offers for retirees is a one-time import duty exemption on household or personal goods up to US$10,000.00. The car will be subject to import duties but, as a retiree, you will also benefit from tax exemption every two years on vehicles for personal use.

What about Panama's ecosystem?

Panama's ecosystem is very diverse, and a large number of plant, animal and bird species can be found. In fact, Panama is home to over 900 species of birds, making it a bird watcher's paradise, and there are numerous mammals, amphibians, reptiles and marine life to be found, not to mention its rainforests, that will be the delight for all nature lovers.

Are golf courses available in Panama?

Panama has some of the best professional golf courses available, including those by famous designers such as Tom and George Fazio. Some are located within less than half an hour from downtown Panama City, while others are less than 15 minutes from Rio Mar, and several others are also within minutes from Rio Mar Luxury Beach Community.