This Coastal Destination Is the No. 1 Place to Retire in Latin America for Its Taxes, Cost of Living, and Housing

"Retirement requires significant planning. Deciding where to spend your hard-earned days is a consequential decision, and there are dozens of factors to consider, from financial to social. Each year, however, International Living helps point soon-to-be-retirees in the right direction by releasing its Annual Global Retirement Index. The publication takes into account all the elements that make for a "rewarding" retirement overseas; health care, cost of living, housing, and climate are all considered in the final ranking."

"According to Numbeo, its cost of living is on average 34.6 percent lower than in the United States. The country also has low property taxes, a one-time exemption on import tax, and a number of immigration discounts. International Living reports that foreigners who buy real estate in Panama have many of the same rights as citizens. The publication also adds that Panama uses the U.S. dollar, and "is home to one of the world's most stable international banking centers.""

"Most notably, though, Americans can participate in the Panama Pensionado program. Through it, retirees gain several key financial benefits, including: a 25 percent discount on utility bills and airline tickets, a 20 percent discount on doctor's bills, and 15 percent off on hospital services. In order to apply for the program, you "must have a verifiable minimum monthly income of $1,000 from a government program or private corporation," a health certificate from a Panamanian doctor, and a certificate of goo"

The Annual Global Retirement Index ranks destinations based on health care, cost of living, housing, and climate. Greece attained first place for the first time in 35 years, with Panama close behind in second. Panama remains the top retirement choice in Latin America for 2026. The country offers an average cost of living 34.6 percent lower than the United States, low property taxes, a one-time import tax exemption, and immigration discounts. Foreign buyers receive many of the same real estate rights as citizens. Panama uses the U.S. dollar, hosts a stable international banking center, allows U.S. and Canadian citizens visa-free stays for six months, and the Pensionado program provides multiple discounts while requiring a verifiable minimum monthly income of $1,000, a Panamanian health certificate, and a certificate of goo

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