| Ever dreamed of owning a foreign vacation home, | | | | American retirement havens such as Mexico, |
| living or retiring in an exotic land? You're not alone. | | | | Costa Rica and the Dominican Republic, Panama |
| An ever increasing number of Americans and | | | | has more amenities, lower costs, and less crime, |
| Europeans are being lured abroad by a lower cost | | | | red tape and government interference. |
| of living and higher quality of life. Some are | | | | In addition, Panama has put together an |
| returning to their ancestral countries or to places | | | | impressive list of incentives to attract |
| where they once vacationed, worked or studied. | | | | newcomers, including: |
| Others are being enticed by generous retiree | | | | Expatriates who buy or build a new home pay no |
| perks and attractive tax incentives. Outside of | | | | property taxes for 20 years. |
| reading about it, you probably have never given | | | | No taxes on foreign-earned income (Social |
| the notion any serious thought. These three | | | | Security, pensions or business profits). |
| beautiful and affordable slices of paradise could | | | | Investments in the tourism industry are exempt |
| change your mind. | | | | from import duties, construction materials and |
| NOVA SCOTIA: THE HIDDEN GEM | | | | equipment costs, and income, real estate and |
| Not all expatriate destinations are created equal. If | | | | other taxes for a period of 20 years. |
| you're on a budget, tired of crowded beaches and | | | | The pensionado (retiree) program |
| packed supermarkets, love seafood, and have a | | | | You don't need to be retired to qualify for the |
| 19th-century mindset, you may want to consider | | | | program (anyone over 18 may apply for |
| Nova Scotia, the Canadian province which is | | | | benefits). The only requirement is a guaranteed |
| becoming one of the most sought after vacation | | | | income of $500 per month ($600 for a couple). It |
| home and retirement havens in North America. | | | | must be a pension from a company or |
| Nova Scotia is beautiful. With some of the world's | | | | government agency (e.g. Social Security, disability, |
| most beautiful scenery, it boasts something for | | | | military pay, etc.). After becoming a Panamanian |
| every taste: historic small towns, picture-perfect | | | | resident "pensioner," you are immediately eligible |
| countryside, and a bustling capital with attractive | | | | for the most comprehensive program of |
| suburbs, not to mention 3,600 miles of enchanting | | | | expatriate benefits in the world, including discounts |
| coastline dotted with charming fishing villages, | | | | on everything from doctor's visits and mortgage |
| inexpensive lots to build on, and opportunities for | | | | closing costs to restaurant meals and |
| outdoor recreation of virtually every type. Deeply | | | | entertainment (movies, theaters, concerts, |
| steeped in Scottish, Irish and Acadian (creole) | | | | sporting events, etc.). |
| heritage, the province feels like New England 100 | | | | Other perks of life in Panama are its proximity to |
| years ago, and the entire province's population is | | | | the US (only a 2½-hour flight from Miami), |
| less than one million so the place is anything but | | | | the US dollar is the de facto currency, and English |
| crowded. | | | | is widely spoken and understood in major cities |
| But that's not all. With government-funded | | | | (Spanish is the official language). |
| healthcare, comfortable spring and summer | | | | Right now, the three best places to purchase real |
| temperatures (with milder and less snowy winters | | | | estate in Panama are Panama City, the capital |
| than many northern U.S. states) and real estate | | | | which boasts First-world infrastructure and is |
| prices considerably lower than anything on the | | | | home to virtually every large American |
| coast in the United States, Nova Scotia is well | | | | brand-name chain; Boquete, a scenic and growing |
| worth considering. The growing American and | | | | expatriate hideaway in Panama's mountainous |
| European expat population obviously agrees. | | | | region; and the Pearl Islands, a chain of over 90 |
| For Sale: Your own slice of the breathtaking | | | | islands and 130 islets in the Caribbean. |
| coastline and tens of thousands of acres of quaint | | | | DOMINICA: THE OLD CARIBBEAN |
| countryside at unbelievably low prices. Live like a | | | | The Caribbean is synonymous with hedonism -- |
| prince in a peaceful and private haven. Enjoy | | | | from the popular tourist Mecca of the Bahamas |
| universal healthcare, friendly people and Cuban | | | | to the off-the-beaten-path divers' paradise of |
| cigars (they're legal here). All this in a pristine, | | | | Bonaire. What you might not know about the |
| under-developed storybook setting. But hurry...the | | | | Caribbean, however, is that it's also home to one |
| word is out now (you're not the only one reading | | | | of the most appealing -- and inexpensive |
| this article). | | | | destinations in this hemisphere. So if you're |
| PANAMA: THE NEW FLORIDA? | | | | searching for a tropial paradise as it should be, |
| Inexpensive real estate, a low cost of living, | | | | duck the crowds and head to Dominica. |
| breathtaking scenery and First-world perks should | | | | With no direct flights from North America or |
| put Panama at the top of your list if you're | | | | Europe, Dominica is welcome retreat of peace |
| considering living or retiring abroad. | | | | and quiet in the Caribbean's sea of mass tourism. |
| Home to Central America's most vibrant and | | | | Roughly halfway between Martinique and |
| attractive capital (Panama City), Panama is slightly | | | | Guadeloupe, the island is splendidly underdeveloped. |
| larger than the state of Florida. Bordered by the | | | | A land of waterfalls, rivers (365 of them), hot |
| Caribbean Sea and the Pacific Ocean, it is one of | | | | springs, and lush rain forests, Dominica is the |
| those places that can seduce you through its | | | | Caribbean's most rugged isle. Instead of luxury |
| sheer natural beauty. The seemingly endless | | | | resorts and long stretches of crowded sand, you'll |
| stretches of picturesque coastline, lush green | | | | find volcanic mountains, intimate beaches, |
| valleys, near-perfect weather and friendly people | | | | little-explored reefs and charming small hotels. |
| make it one of the most livable places in the | | | | And if you think that living in the Caribbean full- or |
| world. If you like Florida and the Caribbean, you'll | | | | part-time is a luxury only A-list celebrities can |
| love Panama. | | | | afford, think again. Dominica's prices are |
| Outside of its scenic charms, Panama is one of | | | | refreshingly down-to-earth: A modest but |
| the best places anywhere for expatriate and | | | | comfortable home can be built for as little as 25K |
| retirees today, offering one of the world's best | | | | (naturally, you could pay much more, but why |
| discount programs for retirees. AARP rated | | | | bother). |
| Panama "the fourth best retirement place in the | | | | Why not go see for yourself? |
| world." When stacked up against traditional Latin | | | | *All prices in US dollars. |