Retire In Panama

Want To Retire In Panama

There are many reasons why you would like to retire to Panama, quite apart from the beautiful warm climate and beautiful beaches.

For a start Panama has the best retiree incentive program in the world- typical retiree incentives are :

  • Tax exemption to import a car for private use every 2 years
  • Tax exemption to import household goods up to $10,000.00
  • Discount in hotels, motels and pensions
  • Discount on prescribed medicines from pharmacies
  • Discount on private hospital or clinic bills if the retired patient is not insured
  • Discount on medical services
  • Discount in restaurants
  • Discount on all public transportation
  • Discount on airfares
  • Discount on movie theaters, recreation, cultural and sports events
  • Discount on utility bills (electric, water, residential phone, cable)
  • Discount on professional services: lawyers, architects, nurses, physical therapists
  • Discount on the expenses or closing commissions on personal and commercial loans
  • Discount of percentage points on interest rates for mortgages on housing for retirees
  • No tax on home furnishings if it is the retired person's only property
  • Exemption from property tax if it is the retired person's sole residence
  • Insurance companies that include health policies for retired people, will pass these discounts on to their policy holders
  • Under Panamanian law, nationals and foreigners are given equal treatment.

Many retirees find Panama an attractive country to retire in due to its 'tax friendly' nature - quite unlike most countries of the world.

Frivolous lawsuits are not generally recognized by Panama courts and assets can often be protected more fully than in many other countries.

Real estate is both varied and readily available at prices to suit every pocket.

How to retire in Panama

Unlike many countries Panama will welcome you and will have a visa to suit your particular requirements. The most popular visas are

  • The Pensionado Visa
  • The Private Income Retiree Visa
  • The Person of Means Visa
  • The Reforestation Visa

We will be pleased to refer you to experts in visa regulation who will guide you in the best direction to suit your personal needs.

Pets
Your pets can also come with you to Panama and our advisors will tell you what is required.

The information above is included as a general guide to the many advantages and methods of retiring to Panama. Not everything stated may apply to every retiree and professional advice should be obtained.