Benefits of Retiring in Panama

Considered to be the best retirement program in the world, the Panama Pensionado program offers retirees excellent incentives including:

  • Import tax exemption for household goods
  • Tax exemption to import a new car every two years
  • 25% discounts on utility bills
  • 25% discount on airline tickets and 30% on other transportation
  • 15% discount on loans made in your name
  • 1% reduction on home mortgages for homes used for personal residence
  • 20% discount on doctor's bills 15% on hospital services if no insurance applies
  • 15% off dental and eye exams
  • 10% discount on medicines
  • 20% discount on bills for professional and technical services
  • 50% discount on entrance to movie theaters, cultural and sporting events
  • 50% discount at hotels during Monday to Thursday, 30% on weekends

There are many more discounted items than we have space to list here. Once you have qualified as a Panamanian resident with a pensioned visa you qualify for these benefits.

Click here to view all general requirements to qualify for a pensioned visa are listed on However, the main requirement is proof of a minimum income of $1,000 per month plus an additional USD100 for each dependent. This program is not age related provided you have a pension. Foreign residents of Panama, regardless of the type of visa they obtain, who are over the age of 55 years for a woman and 60 years for a man, are entitled to most of the retiree incentives listed above with the exception of the importation of tax free cars.

Below is a summary of the different Visa & Residency programs available in Panama. If you wish to view any specific program, just click in the Link.

 

VisaProgram

Basic Requierement

Benefits

Self-Economic Solvency 'Person of Means'

One of these options:

  • $300K CD for 3 years; or
  • Buy $300K property; or
  • Any combination which amount to $ 300,000

Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 8 years

Retiree (Pensionado)

Retiree (Pensionado) Applicant must receive a Pension (private or public) of $1,000/ month

Permanent Residency, duty free auto/ household and senior citizen discounts.

Large Investor

Large Investor Applicant must invest 160K in Ca business & hire 5 Panamanian employees

Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 8 years

Reforestation Investor

Reforestation Investor Applicant must invest 80K in a reforestation plantation field

Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 8 years

Second Passport

5 year CD deposit at the National Bank of Panama. The CD deposit must produce US$ 850.00 in interests per month.

Passport for travel, renewable every 5 years

Friendly countries

Friendly countries Applicant must support an economical (business) or professional (labor contract) link to Panama. Applicant must come from one of the countries listed as “friendly country” (29).

Immediate permanent residency with the option of permanent work permit.

Labor residency

Applicant must be employee by a company within the 10% of 15% (technicians) Panamanian payroll

After the preliminary 2 years residency and work permit the applicant is entitle to obtain a permanent residency.

Free trade zone investor

Applicant that invest in free trade zone areas or call center. The investment amount vary upon the free trade area

Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 8 years

Professional activities

Professional activities Applicant must hold a university degree for a professional activity not limited by the Panamanian constitution

After the preliminary 2 years residency and work permit the applicant is entitle to obtain a permanent residency.

 

In BusinessPanama, we have licensed real estate agents, lawyers, insurance specialists, mortgage brokers, investment advisors and other professionals to assist you on all your retirement needs.

We can help you with:

  • Locating properties in Panama City, Beaches, Islands or Mountains
  • Forming a company to own your property
  • Legal services to purchase the property
  • Applying for your residence program
  • Title insurance
  • Home owners insurance
  • Others

For more information, please contact us.

 

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