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:
| The program grants initial 2 years temporary residency and further the right to process the application for procurement of Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 5 years. |
| Retiree (Pensionado) | Retiree (Pensionado) Applicant must receive a Pension (private or public) of $1,000/ month (+US 250 per each dependent) | Permanent Residency, duty free auto/ household and senior citizen discounts, plus Right to opt for Panamanian Nationality & Passport after 5 years. |
| Reforestation Investor (Option 1) | Reforestation Investor applicant must invest 100K in a reforestation plantation field | The program grants initial 2 years temporary residency and further the right to process the application for procurement of Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 5 years. |
| Reforestation Investor (Option 2) | Reforestation Investor applicant must invest 350K in a reforestation plantation field | Immediate permanent residency with the option of work permit, plus Right to opt for Panamanian Nationality & Passport after 5 years. |
| Qualified Investor | Requires a US$ 500K in real estate/securities or US$ 750K Time deposit investment in local bank. Any option is required to be held for a minimum of 5 years | Grants immediate permanent residency status plus Right to opt for Panamanian Nationality & Passport after 5 years. |
| Friendly Country | Requires an economical asset by purchasing a real estate of no less than US$ 200K or setting up a time deposit for US$ 200K for 3 years in a Panamanian bank, or the professional link by having a formal labor contract with licensed company in Panama and conditioned to the procurement of a work permit issued by the Ministry of Labor. Applicant must come from one of the countries listed as “friendly country” | The program grants initial 2 years temporary residency and further the right to process the application for procurement of Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 5 years. |
| Employment | Applicant must be employee by a company within the 10% of 15% (technicians or executives) Panamanian payroll | The program grants initial 2 years temporary residency and work permit and further the right to process the application for procurement of Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 5 years. |
| Free Trade Zone Investor | Applicant that invest in free trade zone areas or call center. The investment amount vary upon the free trade area | The program grants initial 2 years temporary residency and further the right to process the application for procurement of Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 5 years. |
| Professional Activities | Professional activities Applicant must hold a university degree for a professional activity not restricted by the Panamanian laws | The program grants initial 2 years temporary residency and further the right to process the application for procurement of Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 5 years. |
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.
