Retirement Visa Program

Any foreigner who receives a retirement or life pension from a government, international organization or private company is eligible for a resident visa in Panama as a retiring tourist, as long as said income or pension is not less than ONE THOUSAND AMERICAN DOLLARS(US$1,000) o SEVEN HUNDRED AND FIFTY DOLLARS(US$750) monthly if purchasing real estate in a personal capacity for a minimum value of ONE HUNDRED THOUSAND AMERICAN DOLLARS (US$100,000).

What benefits and exemptions does this permanent residence program offers in Panama?

  • 50% discount on recreation and entertainment activities (cinemas, theatres, sports and other public shows, including presentations by artists, tickets to museums, plays and the like).
  • 25 to 30% discount on public transport fare by bus, boat, boat or plane.
  • Discount from 30 to 50% on the regular prices of hotels, motels and pensions, depending on the rate applicable to the day you stay.
  • Discount of 25% of the value of individual food consumption.
  • 15% discount in fast food outlets, as long as they are national and international franchises.
  • 15% discount on the total bill for hospital services and private clinics.
  • Discount of 20% of the value of medicines in pharmacies.
  • 15 to 20% discount on medical consultations, dentistry and optometry.
  • Discount on the payment of the premium in health risk policies.
  • 20% discount on fees for technical and professional services.
  • 20% discount on the price of all prostheses, as well as all assistive devices and accessories.
  • Discount of 50% of the expenses or closing commission in personal and commercial loan transactions.
  • Exempt from paying the FECI in personal and commercial loan transactions.
  • 15% discount on personal and commercial loans in your name at the maximum interest rate that the law allows you to charge financial entities, such as banks, finance companies, cooperatives and credit institutions.
  • 1% discount on the interest rate on home mortgage loans for your own use.
  • Freezing the property tax.
  • Exemption from the payment of the valuation fee.
  • 25% discount on monthly electricity consumption up to 600 kW.
  • Discount of 50% of the airport tax or fee.
  • Discount of 25% of the fixed charge for telephone service.
  • Discount of 25% of the rate for water consumption.
  • Exemption of 100% of the payment of the registration fee in the Public Registry of the boards of directors, certifications and registrations of new legal entities, of non-profit organizations for retirees, pensioners and the elderly.
  • 20% discount on the purchase of coffins and urns.
  • Import tax exemption for a new car for personal or family use every two (2) years.
  • Import tax exemption for household items up to a value of TEN THOUSAND AMERICAN DOLLARS (US$10,000).
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