Panamania

Article By: Bonnie Baker Cowan

Known mostly for its famous canal, Panama's beaches, real estate and tax breaks are attracting Canadian snowbirds.

Roughly the size of New Brunswick, Panama acts as a land bridge joining Costa Rica to the north and Colombia to the south. Situated between North and South America, the country enjoys access to the Pacific Ocean and the Caribbean Sea, with 27,000 square miles of beaches, mountains and rainforest.

Ranked as an ideal retirement haven for its excellent health care, low cost of living and special benefits to foreign retirees, it's also one of the last private offshore havens, second only to Switzerland.

The government, a stable constitutional democracy with a growing economy based on the U.S. dollar, maintains a policy of incentives for both local and foreign investors. There is a tax exemption for foreign investments and no restrictions or taxes on funds moving back to the country of origin. Foreigners can buy and own property in Panama with the same rights and protections as Panamanians.

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