1. Retiree visa (Pensionado Visa)

Although it is called a retiree visa, you don't have to be retired to get it.

What is required to get a retirement visa:

• Be a minimum of 18 years of age
• A clean criminal record from where you currently reside
• A health certificate from a Panamanian doctor
• Income proof shows a minimum monthly of $1000 on your part and $250 each on any dependents'.

The retiree visa comes with a multitude of benefits and discounts, which is explained in the next sections.

2. Panama's incentives for foreign retirees

• One-time import duty exemption on all your personal and household items up to $10,000.
• Import duty exemption of a car duty free every 2 years period (Other tax duties do apply)
• 100% property tax exemption for sole residence
• Discounts ranging from 15% to 50% are offered on hotels, restaurants, movies, various professional services, and so on.
• Requirements for retirement visa are minimal

• 50% discount on closing costs for mortgages
• 10% discount on prescription medicines
• 15% discount on dentistry
• 30% discount on bus, boat, and train tickets
• 25% discount on domestic and international airline tickets
• 25% off restaurants bills
• 15% discount on fast food restaurants' bills
• 25% discount on monthly energy, phone, and water bills
• 50% discount on hotels from Monday to Thursday and 30% during weekends
• All Panamanian banks offer special express lines for retirees, which is mandated by law

Looking for a retirement home? Check out these real estate listings.

For more information, please contact us.