Panama Retirees and Pensioners Visa
So far, the Panama Retirees and Pensioners Visa is considered to be the best retirement program in the world and was created in order to promote the residential tourism in Panama.
According to this program, the applicant is only required to present evidence of a monthly income and for life, of at least US$ 1,000.00 per month, or its equivalent if in another currency.
The referred income must be in the form of a pension or retirement, from a government agency or from an authorized and regulated retirement agency or private company, for which additional documentation shall be required. If the applicant is applying with their spouse, an additional US$ 250.00 in the monthly income are required. Additionally, the police records and the marriage certificate – recently issued, apostilled/ authenticated by a Panamanian Consulate in the issuing country– valid for 6 months must also be added to the application.
All documents originated abroad must be either apostilled or authenticated at the Panamanian Consulate in the applicant’s country.
Panama’s Pensionado, or also called “Jubilado”, discounts are one of the many ways you can live better for less in Panama.
The said program also entitles you to a one-time exemption of duties on the importation of personal assets, up to the total amount of USD 10,000.-, and also several discounts on entertainment, travel, medication and restaurants, such as:
- 50% off entertainment anywhere in the country (movies, theaters, concerts, sporting events)
- 30% off bus, boat, and train fares
- 25% off airline tickets
- 25% off monthly energy bills
- 30% to 50% off hotel stays
- 20% off prescription medication
- 15% off hospital bills, etc.
There are many reasons to consider Panama as a place to relocate to. Among all the benefits of retiring in Panama you can also count the decent cost of living, very low crime rate, the climate is warm and sunny all year round and the health care is outstanding.
