Panama uses the Dollar
REASON #4
Panama uses the Dollar
What Panamanians call “balboa” is actually the US dollar.
You might think that this is not such a big deal, especially if you are banking and planning retirement. However, don’t you think it is rather nice to be able to predict the inflation rate for the country you want to retire in?
Plus, Panama is, economy-wise, very stable, based as it is primarily on a well-developed services sector. The services include the world-famous Panama Canal (a sight to behold, but more on Panama’s beauties), a very strong banking system with more than 100 international banks, the Colon Free Trade Zone, insurance companies, container ports, flagship registry and tourism.
Panama’s privacy laws and banking infrastructure make it one of the best places to park your money offshore. Definitely investor-friendly, all you have to do is show investments that yield as little as $500 a month and you not only qualify for a retirement visa but you also receive amazing discounts.
Of course, there are other pre-qualifying factors, but the fact remains that foreign investor friendly government is more than enough encouragement for retirees and entrepreneurs, such as yourself, to consider this country for your retirement destination.
