Ranked as the number one place to retire and a top location to own a second home by a number of esteemed publications including Fortune, International Living and Modern Maturity magazine, Panama has many wonderful advantages to offer its residents. For one, it has the best retiree program in the world, the “pensionado.” But even beyond this, the safety ratings, infrastructure, attractions, beauty and climate of Panama make it an undeniably pleasant place to live.
As the result of a new US bank law, however, the IRS will soon be forcing foreign banks to withhold 30% of funds that leave the USA beginning January of 2013. Hence, Panama’s #1 Travel Guide is advising that now is the time to purchase property in Panama and get funds out there before this new law goes into effect.
Panama does not have a multi-listing system, so those who are looking to invest in property for retirement or as a second home should consider the Ocean Reef Islands, Panama’s newest and most luxurious residential development. To learn about the custom designed villas and single-family homes, private marina and other world-class amenities of this prestigious new development, contact Hurwitz James Company at 888-681-5902.