Retire in Panama and obtain the Permanent Residency for retirees.
Retiree Visa in Panama is a very expedite way to obtain a permanent residency in Panama in addition to benefits that also local retirees have.
If you want to retire in Panama, the Retiree Visa (or Pensionado Visa), provides Permanent Residency with the right to obtain cédula (Panamanian ID), however it is important for you to know it does not give you the right to obtain a Work Permit. We state this since we have had diverse clients in which they would still like to stay active and establish a business or similar. You can open or register a business without inconvenience, in fact you do not need to have any residency to do so, but if you are willing to actively participate of the commercial activity and work directly in your business, it is important that you have a valid work permit, specially in the case of those businesses that have a significant exposure.
For this Visa it is not necessary to pay the Repatriation deposit neither the National Treasure, which makes it a very inexpensive process.
How do you apply to the Retiree Visa?
– You must receive at least US$1,000.00 as retiree in your country, you should provide apostilled or legalized certification
– You must have an apostilled or legalized police records
– You can addition dependents according to your retiree income
– You must be in Panama for the registration in Immigration, however you ca travel while your Visa is in process
Once you have the documents from your country, your travel is coordinated for the registration in Immigration and completion of forms.
What benefits do you have as retiree?
– Discounts of 50% in entrance at recreation and entertainment such as movie theaters, sports.
– Discount of 30% for public transportation and 25% on airfares.
– Discount of 50% in hotels from Monday to Thursday and 30% from Friday to Sunday.
– Discount of 25% in restaurants.
– Discount of 15% in fast food restaurants.
– Discount of 15% in hospitals and clinics.
– Discount of 10% in pharmacy (with prescription).
– Discount of 15%-20% on medical attention.
– Discounts in Insurance companies
– 20% in professional and technical services.
– 20% in prosthesis
– 50% in financial transactions.
– 1% of discount in interests of loans.
– 25% on services such as light bill, phone bill and water bill.
– Tax exemption for car importation or households goods.
Why Panama as a retirement country?
Panama has been ranked as one of the best places to retire. You can retire in Panama with small income and still live well, there are also opportunities for investment and doing business abroad without having to pay income tax or make any declaration in Panama. The use of the US currency, health care is international standard with lower costs, being the hub of the Americas, having a little bit for all interests, such as beaches, highlands or high luxury in the city, no earthquakes or storms, diversity of food, overall stability, are just a few advantages we can mention of moving to Panama.
You can also evaluate the possibility to register a company in case you want to execute some kind of business also. You can obtain further information on corporations or how to initiate a business in Panama here.
What places can you consider in Panama for living?
If you like the beach, you can choose areas like Coronado that are developed or Playa Blanca.
If you like a cool climate with mountains you can evaluate Boquete (lots of retirees living there) or Volcán. Also options like El Valle, Altos del María or Cerro Azul.
If you like the city you can have diverse options, such as residential areas like Condado del Rey or Costa del Este (that also have commercial areas with sea view), commercial areas like San Francisco and Avenida Balboa (with sea view).
Again, we have a little bit for every taste.
We have attractive packages for Retiree Visas, you can write to firstname.lastname@example.org or email@example.com if you require further information, we will be pleased to assist.
Please let us know your comments and experiences.