“Let me paint a picture for you,” says Al Fine, 81. “It’s a Sunday morning,” he begins. “My wife Carmen and I wake up in our three bedroom condo in the ritzy Punta Pacifica sector of Panama City—it’s the Beverly Hills of Panama.” Al and his wife have a view of the Panama Bay.
The Fines go to a five-star hotel for Sunday brunch. At a hot food station, a chef is grilling up shrimp. “They’re so big, you could put a saddle on them,” says Al.
“When we’re done I ask for the check, with my retiree benefit discount,” Al says. The check for two is about $40, but Al pays some $10 less. Al is one of many expats living in Panama, who take advantage of the favorable Pensionado Program Panama offers all retirees.
In the evening, the Fines may go to a nearby 14-screen movie theater. The tickets are $4 a piece, but with retiree discount, Al saves 50%.
North Americans like Al are flooding to Panama in search of this easy, inexpensive lifestyle. The nation offers all retiree residents and citizens a range of discounts that encompass travel, entertainment, medical and insurance expenses—foreign retirees here on the pensioner’s visa even get duty-free exemptions on the importation of household goods (up to $10,000) and on the purchase or importation of a car…every two years.
International Living is one of few publication companies covering this small but significant niche of retirement destinations. To help meet the demand for more Panama-specific information, the company holds yearly seminars in Panama—the Live & Invest in Panama Seminar. Al Fine is a popular speaker at these seminars. He tells attendees about the Retiree Benefits he receives in this country.
For anyone who missed the seminar, International Living has a full post-seminar package with recordings and information presented at the 2010 Live & Invest in Panama Seminar. During the event, experts spoke about tax issues, property and legalities in Panama—and expats already living here shared their expertise and insight with some 350 attendees from the U.S., Canada, and a smattering of other countries.
The Fast Track Panama Package encompasses the seminar’s three full days of discussions and presentations…more than 18 hours of information. In addition to recordings of every presentation, the package also includes copies of handouts and presentation slides that you can use to follow along with the audio recordings. Perhaps the most valuable component is the attendee booklet, which includes a complete rolodex of contacts in Panama—everything from lawyers to realtors.
For anyone considering long-term plans in Panama, the benefits could be substantial, according to International Living Latin America Editorial Director Suzan Haskins. U.S. tax specialist Morey Glazer explains how to stay compliant with U.S. tax obligations while taking advantage of Panama’s “no tax” policy for foreign-earned income. Former U.S. Congressman Bob Bauman discusses Panama as one of the world’s leading offshore havens. Real estate expert Ronan McMahon gives a detailed overview of the pros and cons of entering Panama’s complicated real estate market.
“The 2010 Fast Track Panama Package is the fastest and most cost-effective way to quickly get up to speed about all things Panama,” Haskins says. Adding that the insurance presentation, tips on getting mail and staying in touch with loved ones back home, and insight into starting a business in Panama are invaluable. “This information would take months of research and networking to obtain. “With more and more North Americans looking to live better for less abroad, information such as that contained in the 2010 Fast Track Panama Package is a valuable commodity,” she says.