Panama - One of the Best Places to Live.
Are you considering migrating to a new country? Then you should consider putting Panama at the top of your list if it isn’t already. But why do we suggest Panama as your preferred choice for settlement?
In the following part of this article, we will be discussing some important benefits new immigrants in Panama stand to benefit from.
I. Living in Panama is cheaper
Now you have gathered up your savings and you would like to experience life in an amazing country like Panama, you will be delighted to find out that this country has one of the lowest costs of living. This will be to your benefit because your savings will be sufficient to sustain you for a long time even if you decide not to get a job immediately. There are many cities to choose from, and the standard costs for food, accommodation, social life will be really cheap for a foreign immigrant. Overall, your expenses will not exceed $2,000 monthly.
II. The Legal Currency in Panama is the US Dollar
This is great news. All you need to do is make the right arrangements and pack your bags. There is no need to bother about converting currencies when you move to Panama. Using the same currency and the US has also been a contributing factor to the low costs of living in Panama.
III. Enjoy Privileges in Panama
Foreigners in Panama are allowed to enjoy all the privileges given to the citizens. This applies in places like the hospitals, public transport, schools etc. you will also enjoy all the attached privileges if you choose to invest in any of the thriving industries in Panama.
VI. Panama is one of the safest places for foreigners
You should move to Panama if you consider safety as an important factor when trying to decide which country you need to move to. You will experience a safe and friendly environment in almost every part of Panama. There are definitely places that might be off limits concerning safety but generally, the crime rate in Panama is impressively low.
You can easily find out just how safe Panama is on public online forums where residents and foreigners living in Panama attest to this fact, it is also important to note that the geographical location of Panama is set where there are no natural disasters like tsunamis, earthquakes etc. you will be impressed to discover the large number of American companies that have moved their operational offices to Panama because of the economically friendly society.
V. The land has so much to offer
It is impressive to know that a small country like Panama has successfully attracted a lot of investment in its hospitality industry. You will never miss the “big city” lifestyle. In Panama, there are many exotic resorts, hotels and casinos to keep you engaged all through the day and night. If you love the beach, you will be delighted to know that you will have a number of amazing beaches to choose from where fun activities like surfing, diving, snorkelling etc. are allowed. In Panama, every day will be like a wonderful vacation.
XVI. Close ties with the American Culture
The lifestyle in Panama is similar to the American way of living. There are so many similar infrastructures like those in big American cities. Panama has been the home of over 50,000 Americans for many years and they have no intention of leaving. There is a reason for this; they are very comfortable in Panama. They do not miss any of the infrastructure or facilities that are in America.
VII. Government Policies favour foreign investments
The economy in Panama has thrived over the years because the government has encouraged foreign investments, making it easier for interested investors to start up profitable businesses in Panama. They bring jobs which improve the standard of living generally. This industry also welcomes the input of foreigners who are free to hold top professional positions in their chosen career fields.
VIII. A thriving economy
Panama has defied all the odds to stand out as the most stable and reliable country in the whole of Latin America. This is evident from the thriving economy which has recorded a consistent growth of 6 to 10% in the past years. Many big organizations have been convinced by the reports to confidently move their head operational offices in Panama to cover the Latin American region.
IX. Central Location
Panama is strategically located and this makes it easily accessible from major American states like New York, Chicago, Dallas etc. there are also regular direct flights from Canada and Europe.
X. The citizens of Panama are friendly and accommodating
From history, Panama has been the home of many foreigners over the years that have lived and worked in many of the cities. This early exposure has made the citizens of Panama open to living and working with foreigners. Panama naturally grew into a globalized country without much external intervention. You will find many immigrants from all over the world living happily in the different cities. They have been able to get jobs and they are forging ahead, with their families now.
The social culture in Panama is rich with many significant festivals and carnivals which are popularly celebrated all over the country. There is also a thriving nightlife because of the low crime rate; the cities are properly planned and very beautiful. The locals have developed a thriving market as well for their local artworks which are displayed in various styles.
XI. Panama has a working transportation system
One of the perks of living in a place like Panama is that you can easily get around the towns and cities either by taxis, bus or with your privately owned car. The cost of moving around with the public transport is very cheap and advisable until you know your way around the city.
The centralised layout of the country makes it easy to get to any part of Panama at a very affordable rate. Buses and taxis run interstate and if you wish to drive you could also rent a good car for an amount that would amaze you. Uber services are also available and dependable in Panama City and the other major cities.
XII. Excellent Healthcare Facilities and Programs
Now you don’t have to worry about compromising the standard of healthcare you were previously enjoying because, in Panama, the healthcare system is really impressive. There are government-endorsed programs that offer affordable health care insurance policies which could be comprehensive or flexible according to your needs, starting from rates as low as $200.
The doctors are well trained and the health care facilities boast of only the best medical equipment seen in world-class healthcare facilities.
XIII. A vast retail industry
The retail market in Panama is similar to that of major cities in America, with the presence of big brands that have opened retail outlets in many major cities around Panama. These retail shops sell their products at very affordable rates; this is possible due to the lenient policies put in place by the government which places reasonable taxes on these businesses. They can sell at cheap rates because of this encouragement by the government.
In Panama City, you will never run out of option if you love to shop because there are four world class standard shopping malls in the city. These malls accommodate a variety of classy and affordable retail brands that sell all kinds of products like furniture, home appliances, office equipment etc.
XIV. Reliable Data Services
In Panama, we have seen from various reports released regularly that that internet costs are reasonably cheaper than what you will pay in theUS. It is also faster and more reliable.
XV. An Outstanding Hospitality Industry
The hospitality industry in Panama is best experienced. The hotels are wonderful and affordable too. There are also many restaurants spread across the cities. These restaurants offer a wide range of cuisines, this means foreigners and the locals can get what they like to eat easily. The common American brands like KFC, McDonalds etc. have all opened many outlets in Panama as well- no brand wants to be left behind.
XVI. ReliableFinancial Sector
The financial institutions in Panama are run by financial EXPERTS. The banking system has been made flexible to accommodate interbank transactions even if your bank is domiciled in the US. There are also subsidiary financial organizations which provide other services like offshore accounts, international transfers and investment management. You will also get a good understanding of the tax laws and corporate laws that guide investments and other financial transactions.
There are very many banks in Panama, residents can access their funds from ATM hubs set up around the cities and through online financial transactions.
XVII. A Standard Educational System
There are reputable private schools in Panama. Educational standards will be among the least of your worries because many of these private schools have secured endorsements from the American education ministry after passing all the requirements and standard tests.
XVIII. Well Planned Residential Areas
Depending on your plans, you have a variety of places to choose as a temporary or permanent settlement in Panama. Many foreigners’ tend to settle in Panama City because it is the most popular city with a lifestyle similar to cities in the US.
Let’s give you an idea of how awesome living in Panama really is- you can choose to live close to the beach, in the Coronado region or close to the mountains, just around the Panama City. There is also Pedasi, a small town just by the sea and numerous resorts which only offer the best hospitality that will make you never want to leave Panama.
XIX. Architectural landscape
In Panama, the residents and the government have accepted and accommodated architectural designs and styles peculiar to the native countries of foreigners living here. We have exquisite American, Spanish, British and Italian architectural designs gracing the Panamanian skyline.
XX. Accommodating real estate policies
It is rare to find a country which allows foreigners own properties and enjoy the benefits as landlords just like the citizens do. This is what you will enjoy in Panama. Any real estate investment you make will be fully accredited to you with all the accrued benefits.
Conditions that should be considered before moving to Panama
Many people have come to Panama for different reasons. Some have had to move here to take up lucrative positions in big organizations while others have chosen Panama as the best place to spend their retirement.
Panama remains the best choice for people who are anxious to enjoy a new lifestyle with different cultures. This country is still developing too, if you are coming from an advanced country like the US, you will have to get used to some minor challenges peculiar to developing countries.
To live a comfortable life in Panama, your budget for every month should not fall below $1,500. This means you must have planned very well ahead, armed with sufficient savings to move to Panama. For a basic amount of $1,500, you will sort out rent, bills and your shopping needs adequately.
Can you speak the Spanish language? It is the common language spoken in Panama asides educated people who can speak English. But it is important to have a good grasp of Spanish to easily communicate at the market and while you move around the cities.
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