Benefits for Foreign Retirees

Benefits for Foreign Retirees

 
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Related Links
The New Panama Island Law
  Update on Purchasing Property in Panama
  Panama Real Estate FAQs
  Panama Real Estate Taxes
  Questions about Title Insurance
  Bank Mortgage Financing
  Retire in Panama
  Benefits for Foreign Retirees
 

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Buying a Property
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Panama has the best incentive program in the world for foreign retirees or Pensionados.

Some of the benefits are:

  • Importation of all your personal and household goods up to US$10,000 free of taxes.
  • Right to import a car every two years free of taxes

The following benefits are for all Retirees:

  • 50% off closing costs for home loans.
  • 25% off both international and domestic airline tickets.
  • 50% off hotel accomodations Monday-Thursday
  • 10% off prescription medicines (which are inexpensive to begin with)
  • 15% off dental and eye exams.
  • 30% off bus, boat and train fares.
  • 25% Restaurants
  • 15% Fast Food Restaurants
  • 20% Doctor visits and Surgery
  • 50% off entertainment including movies, concerts, theater everyday.
  • In Panama, all banks (mandated by law) have special express lines for Retirees.
  • The greatest of all benefits for Retirees is that you can hire a full time maid for less than $300 a month.

If you are convinced that Panama is the most Retiree Friendly country in the world, then come visit Panama and let us know how can we help you.

BusinessPanama Real Estate is a licensed real estate brokerage firm capable of providing you full assistance in selling or buying a property from any of our offices in Panama City, Boquete and soon Bocas del Toro.

If you decide to buy a property, then we can help you with:

  • Incorporating a company to own the property
  • Legal advice regarding the purchase
  • Title insurance
  • Preparing your Residence & Visa papers
  • Procuring bank mortgage loans
  • IRA advisory services
  • Other services

If you are seeking title insurance,  we can help you since another BusinessPanama company is the exclusive agent of LandAmerica Lawyers Title which fully reinsures CONASE. 

Please keep in mind that in Panama the general rule is that real estate broker commissions are usually paid by the Seller, not by the Buyer.


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