Right... I'm off!

[moorfield]

Once considered the world's premier tax haven, Panama still has much to offer those looking for a retirement below the radar.

No one has been extradited to UK since 1907 - apparently.

And Mrs Darwin just fancied Panama because of its "sunny climate by the sea".

Although she does have a point. Cleveland is a dump.

[chef]

has he gone yet? thank feck for that..

wouldnt it be nice to have a dwarf around rather than a troll ?

[lilelvis2000]

bye. Don't forget your coat.

[Moscow Mule]

Yellow fever.

You can get a vaccine for that.

[Sylar]

They'll find you.

[BrilloPad]

Shut the door on your way out?

[DimPrawn]

a man a plan a canal panama

[Troll]

For Britons looking to start a new life, the lure of Panama extends beyond the 300-plus sunny days a year in the tiny Central American country.

Once considered the world's premier tax haven, Panama still has much to offer those looking for a retirement below the radar.

After a swift military action by the United States in 1989 to remove former ally Manuel Noriega from power, the country has worked to rebuild its reputation as a safe haven for business, trusts and shipping interests.

At the crossroads of north and south America, the country most famous for its canal also attracts foreigners with sizeable bank balances.

Matt Coward, senior tax adviser with accountants Blick Rothenberg, said the country's financial advisors pride themselves on their discretion.

'Difficulty tracing'

"One of the things you will find with the Panamanian accountants and lawyers who will set up companies, trust and accounts is that they take great pride in the fact their affairs remain confidential."

Mr Coward said if authorities in the UK wanted to trace or access money sent to Panama, they would not have an easy time of it.

"The UK authorities would have difficulty tracing money into Panamanian trusts, companies and accounts," he said.

To maintain secrecy, the government allows numbered bank accounts with no names attached and sets fines of £5,000 and up to six months in jail for anyone who discloses banking information. The only exception is for suspected drug smugglers.

As for lifestyle, websites abound with advice on moving to Panama and estate agents offer luxury apartments for as little as £30,000.

The country has also become a centre for medical tourism, thanks to the large English-speaking population and state-of-the-art facilities.


While the nation of 3.3 million does have income tax, it is only payable on locally-earned money, meaning expats can import as much cash as they want tax free.

Other advantages for those looking to relocate include import duty exemptions for bringing in possessions, including an allowance to import one car a year duty-free.

The country has a dedicated "Retire to Panama" programme that invites expats over the age of 45 to live in the country as long as they can demonstrate a monthly income of just £200 and a further £35 for dependent family members.