In the late 90s, some Canadian and American expats found that Panama has also a low cost of living and truly inexpensive real estate. Panama’s amazing beaches and scenery has propelled those wishing to retire abroad to consider this country for retirement. IF YOU CANNOT AFFORD THA HIGH COST OF RETIRING IN Canada, the USA or Europe, Panama should be considered as a realistic choice when deciding to retire overseas. There are quite a few appealing benefits to those who apply and receive Panama retirement visas. This type of visa offers many discounted services and other opportunities to the foreigner who is savvy enough to take advantage of them. Some of the benefits of obtaining Panama visa (retirement) include the following: • Tax exemption for household possessions, including automobiles • Discounted doctor and other medical fees • Public transport and lodging discounts • Discounts on prescription drug fees • Discounted optometry services • Loan and other business service oriented discounts • Lower interest rates on a number of different proceedings and services • No property taxes for a number of years
From the endless miles of barren beaches to the lush green tropical rain forest and perfect year-round weather, Panama has it all. People are very friendly and they are considerate if you don't know Spanish. If you love crowds, expensive real estate prices and hurricanes, move to Florida, if not Panama is the place to go!
MEXICO
MAZATLAN-Mexico- The pearl of the Pacific
REASONS TO RETIRE IN MEXICO
According to experts the cost of living in Mexico is quite low compared to most places in North America and a retiree can lead a very cost efficient lifestyle. The cost of food, entertainment, property taxes and maintenance are very reasonable. The combination of low land and building costs make Mexico an affordable choice for retirement. Mexico’s environment is far from fast paced, as a retiree you can be active, but still enjoy a low stress lifestyle. Various types of insurance healthcare plans are widely available in Mexico and there is a good selection of doctors, hospitals and medical specialists. Regarding food, there is an immense variety of fish, meats, and fresh fruits and vegetables available at the local markets for reasonable prices.
More Information for those who wish to retire in Mexico
Depending on the retiree's plans for staying in Mexico, there are different visa procedures. For someone looking to stay in Mexico for a short period, a tourist visa (FM-T) is easy to obtain. It is valid for up to six months but does not grant work status.
Rentista is a non-working visa available only to retirees aged 51 or older. Applications for rentista status must be accompanied by a letter from a bank, social security agency, or financial institution, certifying that the applicant receives a certain minimum monthly income.
Foreigners who have lived in the country for five years are eligible to become permanent residents and acquire most of the rights and obligations of a Mexican national. The change to permanent resident status is not automatic and is subject to the guidelines of Mexico's Immigration and Naturalization Service.
Owning or renting a home in Mexico is relatively easy. Foreigners can buy directly in any area that is not near the coast or the border. If the property is within 60 miles of the border or 30 miles of the coast, non-Mexicans are required to purchase through a fideicomiso (beneficial trust).
Medical benefits stop at the border, so it is advised that Canadian and American retirees in Mexico buy health insurance. In general, the quality of healthcare in Mexico is very good. Hospitals, both private and public, are usually easily accessible and well equipped.
Retirees also have the option of signing up for the medical IMSS plan (Mexican Social Security). It costs approximately $200 a year and covers medical, dental, and vision care.
Another healthcare alternative is to buy a private insurance policy in Mexico that covers major medical expenses.
Generally speaking, there is no need to have a car in Mexico; public transportation is affordable and reliable.
COSTA RICA
Playa Tambor-COSTA RICA
REASONS TO RETIRE IN COSTA RICA
Cost of living in Costa Rica: Relocation experts state that those pension dollars will go a long way here, compared to most north American cities. San Jose's prices are among the second lowest of any city in the Americas, and the cost of goods and services is among the lowest in the world. You can hire a full-time maid for a couple hundred dollars per month and utilities run about 30 percent of their North American cost. A bus ride across town costs approximately 25 - 50 cents and taxi travel is very reasonable. A gallon of gas costs about $1.75, cars aren't really required because of the low cost of public transportation. A couple can live very well on $1200 per month, and live quite luxuriously for $2000. Weather: The year round sunshine offers average annual temperatures that range from 31.7 C (89 F) on the coast to 16.7 C (62 F) inland in Costa Rica. There is a long rainy season which lasts from April to December. Geography: Costa Rica has a tropical climate and miles of white sandy beaches. You can explore the ocean and jungle wildlife in a preserved and protected environment. Fill your days sun tanning by the ocean or golfing on courses set in lush, tropical surroundings. Immigration laws: Costa Rica has NO complicated immigration laws. Moving to some countries can prove to be an administrative nightmare for some retirees. Not so, in Costa Rica where you will apply for either of two legal statuses: "Pensionado" (retired) status - you must receive a minimum of $600 per month or "Rentista" status - you must earn a minimum of $1000 per month for at least five years In either case, these cards must be renewed every two years at an expense of $100. The applicant can run their own business if they choose, but must obtain a permit if they want to work someplace else. Low taxes: Foreign residents are not taxed on income that is earned outside of the country and qualified pensioners are eligible for certain tax exemptions and incentives. If you want to retire just part-time: Costa Rica has many investment opportunities. There are a number of investment choices in Costa Rica, such as agriculture, ornamental plants and flowers, livestock, tourism, real estate and the stock market. Small businesses can be very successful, especially if they offer a unique product with a high demand. Real Estate and housing costs: The timing for purchasing property in Costa Rica is now! Prices have started to go up as a result of the increased popularity of the island, but it is still a bargain overall. Politics and Safety: Costa Rica has a low incidence of violent crime and strong political stability. Canadian and American Expats: You'll feel right at home. For example, there are more Americans living in Costa Rica per capita than in any other country outside the USA, and this has created a very North American environment
ASSISTANCE ALSO YOU IF YOU WANT TO RETIRE IN ARGENTINA or URUGUAY
25 The Esplanade - Suite 1618 Toronto, Ontario, M5E1W5 CANADA
TRG Relocation Services
For more information contact us at Phone (416) 849-7499
