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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
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Introduction – We are hearing people say the USA with its depressed real estate prices is a good place to invest in real estate for foreigners. We think not. Read below.
Cost of Living – The big problem with Florida and other USA spots with depressed prices is that the cost of living is so high. We will site some examples.
Maids – Figure over $30,000 a year with benefits, workmen’s compensation, taxes etc. In Panama figure $3500 a year.
Pharmaceuticals – Panama is about 40% the USA price for most drugs. Pharmacies are plentiful and carry most drugs or their Latin American equivalent. Many drugs do not require a prescription.
Heath Care – Figure about 40% of the USA price in Panama with overall better and cleaner hospitals. Doctors make house calls for $24 to $45 in Panama.
Food – In Panama fresh never frozen fish is $1.25 a pound, T-bone is $2.35 a pound, and good size fresh shrimp is about $7.00 a pound. Big papayas can be had for $0.69 each. Tropical fruits and fresh vegetables abound.
Entertainment – If you are a pensionado the movies will set you back $2.00 a ticket. Nice steak dinners can be had for $7.50 to $12.00.
Property Taxes – Many of us in Panama pay nothing due to 20-year exemptions or pensionado status. Look into USA property tax.
Sales Tax – Panama has a 5% tax. Much of USA is 7.00% to 8.5%.
Summary – While Panama prices may have risen to be as high as some USA locations the cost of living in Panama is still far lower which will make a big difference. The cost of living will also mean a higher quality of life in Panama with its low crime rate and fantastic beaches and great medical care. Nothing is ever cheaper in the USA.
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*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.
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