Great International Retirement Locations
Boquete, Panama Retirement
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| Description: |
| Boquete, on the Caldera River, in the green mountain highlands is known as the “Valley of the Flowers and the Eternal Spring”. At nearly 4000 feet above sea level its climate is cooler than the lowlands and averages around 70 degrees. Its scenic location, temperature, and natural environment make it extremely popular. At the entrance of the valley the Virgen de la Gruta mirador provides a spectacular view of the entire valley and the Caldera River. There are many hiking trails in the mountains around the City and river rafting is a popular activity. Boquete’s diverse flora includes roses, sunflowers, orchids, lilies, hibiscus, hortenses and many other varieties |
| Native Indians, Spaniards, Europeans and North Americans were early inhabitants. In the early 1900s immigrants from Yugoslavia, Sweden, Switzerland, Germany and North America settled here. |
| Boquete has a very active music and arts scene. In 2007 the annual Boquete Jazz Festival, now the Boquete Jazz & Blues Festival, was founded. The 10-day annual Flowers and Coffee Festival occurs in mid-January. The festival is one of the largest celebrations of flowers in the world with participation of everyone in town. Coffee tasting is a major feature of the festival. There is also an Orchid Festival in April, when local orchid growers display many varieties of these beautiful flowers. |
| Reasons to retire here: Easy residency program, cost of living, discounts for retirees, music, food and coffee and flower festivals, culture and the arts, expat community, biodiversity |
| Weather: average lows in the 60s and average highs in the 80s |
| Population: 20,000 |
| State Income Tax: There is no tax on income earned outside of Panama. Income earned in Panama is subject to a 7%-27% tax after the first $9,000. |
| Sales Tax: 7% |
| Property Tax: Zero tax on property of $30,000 or less. 1.75% to 2.1% of property valued above $30,000. |
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