Panama Retirement Visa Benefits

Under the Panama Pensionado Program, if you are retiring in Panama you will be entitled to considerable discounts off the already mercifully low cost of living in Panama, such as:              

Tax exemption to import a car every two years (just import taxes, other taxes apply)

Import tax exemption for households up to US$10,000.

Import tax exemption for household goods

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 (The house has to be purchased in your name − not a company or an SA)

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 for hotels from Monday to Thursday, 30% on weekends, among others.

If you are Retirement in Panama, note that the list above is just a reference of the benefits for those that apply for the Panama Pensionado Program. Benefits may not apply in all cases. Ask the representative what benefits they provide when you retire to Panama.
 

Panama Immigration. Clients from different nationalities that have obtained their Panama residency visas.

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The Panamanian Government issued the Executive Decree No. 416 of 2012 (former decree 343) that creates within the immigration category of Permanent Resident, the sub-category of Permanent Resident in the form of foreign nationals from specific countries that maintain friendly, professional, economic, and investment relationships with the Republic of Panama, including Canada and other countries.

Within this status, newly qualified permanent residents will be able to exercise professional or economic activities – such as creating a business or getting a job, as long as they comply with commercial, tax, and labor laws. It grants you permanent residency and you can obtain Panamanian nationality by naturalization after five years of permanent residency. You can also apply for a labor permit if you comply with all the labor regulations in Panama.

List of countries:

Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Israel, Japan, Republic of Korea, Latvia, Liechtenstein, Lithuania, Luxemburg, Malta, Mexico, Monaco, Montenegro, New Zeeland, Norway, Paraguay, Poland, Portugal, San Marino, Serbia, Singapore, Slovakia, South Africa, Spain, Sweden, Switzerland, Taiwan, The Netherlands, United Kingdom, United States of America, Uruguay.

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