And even if you don’t plan on retiring or living in Panama, Panama has also rated the very highest in real estate investment opportunities for those of you who would like to make their money from a distance.

Here’s what is being said about Panama by some of the bigger players in the real estate market: “Real estate in both emerging and developed markets outside the United States offers some of the best investment
opportunities in the world right now. ” – Ricardo Griffin – the Offshore Guru at OMA. Ltd, international offshore consultants, located in Panama.

“Global real estate will be the only major asset class that could deliver double-digit returns over the next five years.” – Barton Biggs, Chief Global Strategist and Chairman Morgan Stanley Investment Management, Pensions and Investments

“The good news in global real estate – it’s no longer exclusively for the mega-rich!” – Lief Simon – Editor, International Living and Global Real Estate Investor

All major credit cards are accepted in Panama at most shops, supermarkets and hotels. However, you do require currency for making small payments.

During the May to December rainy season, Panama City experiences heavy rain most days, often with brief flooding of streets or walkways. During the rest of the year rains are less frequent. In the dry season, weather will be hot (78-85degrees F) without much chance of rain, except in Bocas del Toro. Restaurants, meeting rooms, and STRI offices and laboratories will be air conditioned, and can be quite chilly.

Temperatures vary little from season to season and fluctuate with altitude. Weather can vary due to location. The higher you go, the colder it gets, and the lower you go the warmer it is. The sealevel temperature is around 80 to 85 degrees F. (27 degrees C.) most of the year. The Atlantic side tends to receive more rain. The weather on the Pacific side of the country tends to be drier both on the coast and in the mountains.

Like the rest of Central America, Panama only has two seasons. The summer or verano is generally from late December to mid-April with March and April being the warmest months of the year. The rainy season or invierno, runs from mid-April to December. However, there is plenty of sunny weather during the rainy season.

During the wet season, many mornings are sunny and clear with only a few hours of rain in the afternoons. Since the temperature varies little, the wet months are usually as warm as the dry months. It is unusual to have two or three days of continuous rainy weather in most areas of the country. October is usually the rainiest month of the year.

Foreigners should not let the rain get them down since there are a variety of indoor activities available. Panama City has many museums, theaters, malls, casinos, roller skating rinks, Internet Cafés and other indoor activities that will more than keep you busy when it rains.

A mountain chain stretches almost the entire length of the country. The highest peaks of this range are in the west. Volcán Barú in western Chiriquí Province is the highest point in the country. The country also has around 500 rivers, which empty into the Caribbean and Pacific.

Panama also has a large number of islands scattered on both sides of the isthmus. The two main island groups, both on the Caribbean side, are the Bocas del Toro and San Blás Archipelagos.

Due to its climate Panama has a wide variety of animal and plant life. Panama’s lush verdant forests contain the greatest number of species of all the new world’s countries north of Colombia. Thirty percent of the country’s total land is set aside for conservation.

Politically Panama is divided into nine provinces two Indian territories (Comarcas): Bocas del Toro, Coclé, Chriquí, Darién, Herrera, Los Santos, Panama, Veraguas and the Comarcas of Kuna Yala and Emberá.

Newcomers will make friends easily because foreigners gravitate towards one another. One Florida transplant told us he had lived in Florida for 20 years and hardly ever had contact with his neighbors. He claims not to be the most sociable person in the world, nevertheless he has made over a hundred friends in Central America. He proudly says, “Everywhere I go, I bump into people I know.”

Adjusting and Keeping Busy
Adjustment to a new way of life can take many months. However, an open mind, a positive attitude and a willingness to seek out new experiences can make the transition relatively painless.

Central America, especially Panama and Costa Rica, has come a long way in the last decade. Satellite and Direct TV, private mail service and the Internet make it easier to stay in touch with family and friends in the United States and keep up with what is going on all over the world. If you do not own a computer, you can go to an Internet café.

Panama’s modern technology has made life easy for foreign residents. In most areas of the country you can get cash at a local ATM, manage your investments online, and read almost any major newspaper in the world the day it comes out.

You will never be bored here unless you choose to be. Panama has something for everyone. This little known country offers a real paradise for the nature lover with its uncrowded beaches and mountains, the fishing enthusiast and water sports fanatic as well as the retiree. You can find hundreds of interesting activities such as movies in English, support groups, computer and bridge clubs. You name it, and Panama has it.

An excellent transportation and communication network, the highest per capita income in Central America, a well-developed economic infrastructure, every imaginable activity to stay busy and happy, a government which goes to great lengths to make retirement and living as easy as possible, contribute to Panama’s appeal and make it one of the world’s top retirement and expatriate havens.

Panama has an over all life-expectancy rate of 75.68, which is almost as high as — (72.94 for men and 78.53 for women)—the United States (76 for men, 79.8 for women).

Hired help is a bargain when compared to prices up north. A full-time maid can be hired for under $200 per month.

In Panama any legal resident may buy and own property. Retirees do not have to pay property taxes until they sell their homes. On new homes there is a 20-year exoneration from taxes. Property prices are very reasonable when compared to what you’ll pay in the U.S., Canada or Europe. A decent apartment may be rented for as little as $200 per month. A luxury apartment in the best area of Panama City can range from $500 to $800 monthly. A new home may be purchased for under $50,000. Actually, an investment in Panama today is much better than an investment in California real estate was 30 years ago.

Retirees can bring in a new car and furniture every couple of years. On top of that, they receive substantial discounts ranging from 10% to 50% on a wide variety of local products and services.

What you really spend depends on your lifestyle. If you must have a luxurious home, drive a late model car and buy imported goods, you could spend as much or more than you would in the States. But if you live more like the locals, take advantage of all of the perks, and watch your spending, you will spend considerably less.

Many Americans living below the poverty line in the United States can live in moderate luxury on a modest retirement or investment income in Panama. The country lends itself perfectly to living and retiring overseas, something that was once reserved for a few wealthy individuals.

You will not have to worry about an unfavorable exchange rate since the U.S. dollar is the official currency. The cost of food, utilities and entertainment are all substantially lower than in the United States.