Panama is located between Central and
South America. It covers 29,208 square miles (75,517 square
km) and is somewhat smaller than the state of South Carolina.
Panama is between 50 and 120 miles wide (89 km and 192 km)
and is bordered by 805 miles (1,287.7 km) of Caribbean coastline
and 1,062.8 miles (1,700.6 km) of Pacific coastline.
Panama has a tropical climate.
Temperatures are around 80-90 degrees Fahrenheit (approximately
25-30 degrees Celsius).
Panama is in the Eastern Standard Time
Zone (EST) five hours behind GMT.
There are two seasons, the "dry
season" from December to April and the "rainy season"
from May to November.
Volcan Barú 11,400.92 feet (3.475m)
The currency is the "Balboa"
which has the same value as the dollar. The dollar is legal
tender in Panama, which doesn't print bank notes but only
mints its own coins. Coinage is either Panamanian or the U.S.
equivalent in 50¢, 25¢, 10¢, 5¢ and 1¢.
120 volt, 60 cycles in all parts of the
See what ABC NIGHTLINE has to say about Panama
"Panama is the most beautiful retreat in the world and
And according to a recent article written by the American
Association of Retired Persons (AARP), Panama ranks 4th among
the top 15 world locations for a home away from home citing
first-world infrastructure of roads, business services, exceptional
medical care and telecommunications.
Panama is an incredible nation that is soon going to boom
and according to "International Living Magazine",
Panama will be "the world's next great retirement haven".
Panama is currently passing through an economic crisis, so
the opportunities for investors, retirees, or those just looking
for a retreat are excellent. Panama is already beginning to
become a sought-after retirement haven, so prices will increase,
just like they have in other areas American's and Europeans
have been attracted to - for example Mexico, Ireland and Costa
Panama has a sophisticated capital city, incredible rain
forests, some of the finest ecotourism, bird-watching, thousands
of exotic beaches and islands, world-class adventure, snorkeling,
diving, sport fishing, white water rafting, exploring, rock
climbing, fine restaurants, and incredible historical sites,
not to mention the "8th wonder of the world", the
As a resident of Panama you will enjoy a lifestyle you have
only previously dreamed of. You will live among a beautiful
people, smiling, and cooperative. While many speak English,
you will want to immerse yourself into the culture and the
language of Panama. Spanish is the native language and there
are many schools and private tutors available at nominal costs
to get you started on your command of Español.
As a US citizen and a resident of Panama, you are entitled
to earn as much as $80,000.00 annually without paying taxes
to the American government. ( A check with your accountant
will be in order to verify this and determine how this law
will effect you.) Because of internet capabilities, your office
in any country is as close as your computer. Many Panamanian
residents are foreign born, working in Panama with little
or no taxes paid to either their home government or Panama.
A number of solutions to this are available in Panamanian
and home country laws. We will point you in the right direction
for advice on these issues in Panama. Your own accountant
would be helpful to you in this regard at your current home
The lists of restaurants in Panama is endless. The night
life is exquisite, shopping for anything in Panama city is
a treat, the prices are inexpensive to ridiculously cheap.
"Known mostly for its Canal, Panama is in fact, an undiscovered
English widely spoken
Exceptionally high quality of life
U.S. Dollar is currency of trade
Domestic services at very low cost. Example:
live in maid for $130 month
Incredibly low overall cost of living
Permanent resident visa available with little
"red tape". Assistance can be provided
100 International banks
Second largest Free Trade Zone in the world
There are direct flights daily from Panama
City to seven major U.S. cities: Los Angeles, Newark, Miami,
Houston, Dallas, Atlanta, and Orlando, including a variety
of European destinations.