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The office for National Statistics in the UK show that 200,000 people left the country for good in 2007 the huge majority of these were retirees. Many UK pensioners who have had years in the housing market have good amounts of equity in their homes. Pensions sent to many of the popular places to retire abroad can go a long way if you do your sums correctly. Taxation can be a unpleasant surprise for Brits retiring abroad and this is a warning for those who have not thought about this issue seriously.
There are vast differences in taxation, inheritance laws and the availability of health care in each region popular with those seeking to retire abroad.How many of us know that France for example has income tax rate of up to 49.8% and inheritance tax rate of 30%.
Cyprus income-tax rate of just 5% on pensions for retired residents, as well as low property prices and no inheritance tax. It also scores highly on related issues such as ease of gaining residency, low property buying and selling costs and benefits for pensioners.
Panama, now infamously the chosen destination of “back from the dead” canoeist John Darwin and his wife Anne, is also an excellent place for those living on a retirement pension. This is largely thanks to its pensionado scheme, which offers attractive discounts for pensioners.
Rules for British who retire to the European Union
UK national Brits have the right to live in any European Economic Area (EEA) country.The EEA is made up of those countries who are full members of the European Union (EU): Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Republic of Ireland, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom, plus Iceland, Liechtenstein and Norway.
Big World Villas is a luxury ocean-front development located in Santa Catalina. It is the first such development in the area and offers investors a relaxed lifestyle surrounded by pristine coastline, untouched rain forest and endless opportunities for outdoor adventure. Once completed, the project will boast several multi-villa structures strategically positioned to allow each and every one of them stunning views of Isla Catalina, Isla Gobernadora, Isla Cebaco, Isla Coiba, and the Veruguas coastline.
Santa Catalina is a beautiful town located 300km south-west of Panama City and is the best the best access point for the well-renowned Coiba National Park - a UNESCO World Heritage Site. It is also known for having one of the best surf breaks in Central America whilst boasting breathtaking scenery and an outstanding natural environment. World-class fishing is plentiful along the coastline and surrounding islands. Marine activities such as sport fishing, scuba diving, snorkeling and jet skiing opportunities are said to be some of the best in the world.
Big World Villas is designed to be a full-service ocean-front community offering luxurious condominiums and associated amenities and services. These include a large infinity pool with swim-up bar and waterfall, cliff line terrace, oceanfront massage and yoga, coconut tree-top daiquiri bar, movie-house, gym, spa, hammock-park, market and much more. The menu of the two storey restaurant and the open air cocktail lounge has been created by the NYC James Beard award-winning chef Karen Carrier.
Once completed, the project will boast several multi-villa structures strategically positioned to allow each and every one of them stunning views of Isla Catalina, Isla Gobernadora, Isla Cebaco, Isla Coiba, and the Veruguas coastline.
Big World Villas has joined forces with the Panamanian domestic airline Aeroperlas to offer direct flights to and from Santa Catalina and Panama City. This new route will commence in March 2008 for as little as $50 each way.
Lost Coast Excursions has also teamed up with Big World Villas to offer second-to-none adventure excursions in and around Santa Catalina. Whether a dash of angling takes your fancy, perhaps a go at topping one of the 170 world fishing records already proudly achieved in Panama, or if jungle tours, whale watching and white water rafting suit your palette, Lost Coast Excursions offers an array of eclectic once-in-a-lifetime experiences, and brings to Big World Villas an unparalleled client list to ensure high rates of occupancy and ROI.
With completion expected in December 2010, Big World Villas is launching its sales process immediately. Those interested should visit www.bigworldvillas.com.pa for more information.
Big World Villas can also be found at Knightsbridge Investment Group
About Knightsbrige Investment group:
Knightsbridge Investment Group offers investment properties for discerning individuals around the world. Providing the foreign investor with a large selection of properties, Knightsbridge is a comprehensive knowledge source for real estate including all legal and financial aspects involved in purchase. http://www.knightsbridgeinvest-panama.com/
1800 583 2779 USA Toll free
00507 228 07 Panama office
0800 032 5039 UK free phone
Property in Panama is creating quite a buzz in the UK at this time . Recent edition of the UK industry magazine Overseas property professional or OPP dedicated some 20 pages to Panama real estate. The editor Trevor Little explained that many agents were less knowledgeable about Panama and the report written by them was a thorough insight into the opportunities available to agents selling Panama real estate.The article added that selling in Panama was not for everyone and that it was important to do your research and seek out legal advice before selling Panamanian Property.
I understand that the Panamanian government is set to strengthen the country’s attractiveness to international property buyers with its extension of its 20 year property tax exemption for foreign investors. Whatever it is Panama property is creating quite a buzz in the UK
