Live & Retire in Panama

Panama is one of the very few countries in the world where your foreign business is tax-free and where it is not required to keep accounts. This is because the Panamanian tax system is based on the territorial principle, according to which local natural or legal persons do not have to pay taxes on income derived from foreign sources.

Several immigration VISA options are offered for you to consider once you decide to Relocate to Panama. The Country has one of the best Retirement Laws in the World, which will provide you and your family a resident's VISA so you can reside indefinitely and several additional benefits. Even though you could legally stay in the country with a Tourist Card (restrictions apply) during your visits we do recommend you to consider applying for a Pensioner's VISA in the long term.

Who can apply for a Pensioner's VISA?

All foreigners who have either retired or have been pensioned by international governments, organizations or private enterprises and their dependent family members can apply.

What are some of the Benefits? (Restrictions apply)

    1. Reside indefinitely in Panamá.
    2. Right to a special passport of personal use for wife and dependents under (18) years of age.
    3. Import Tax Exception on Personal Goods up to $10,000.00
    4. Import Tax Exception on Cars for Personal and Family Use (one car every two years).
    5. Tickets to Movie Theaters, Sports Events and Entertainment Activities will have a 50% Discount.
    6. Public Transportation Discount, 30% in Buses, Trains and Boats and 25% on Airlines
    7. Hotels Discount: 50%, Monday through Thursday and 30%,  Friday to Sunday
    8. Restaurants:  25% Discount
    9. Fast Food Restaurants: 15% Discount
    10. Medical Care Services at Hospitals and Clinics: 15% Discount
    11. Medicines purchased with a Medical Prescription:10% Discount
    12. Discount in Medical Services & Consultations
    13. Prosthesis, Apparatuses and Accessories of Medical Aid: 20% Discount
    14. 1% Adjustment in Mortgage Rate on Residence of Personal Use
    15. Electric Bill up to 600k Wh:  25% Discount
    16. Phone Bill Fix Fee: 25% Discount

Summary of Requirements:

1. Power of Attorney and Submit a Request Form through a Panamánian Lawyer.
2. Medical Certificate of Good Health.
3. HIV Test.
4. Good conduct certificate issued by the Police Department.
5. Copy of Passport authenticated by a Notary.
6. (4) Photographs ID Size.
7. Certification of complete names and nationalities of the applicants.
8. Original Passport with a minimum issuance date of six months.
9. Document that credits your condition of retiree or pensioned by an international government, organization or private enterprise.
10. Certification that shows that the applicant receives a monthly income or pension above $500.  If the applicant has dependents, an additional $100 is required for each dependent.
11. If the applicant is a retiree of a private enterprise he or she should submit documents that show that the company is operating and a proof of payment of pension.

This information is for your reference; please contact our Sales Executives for additional details information on the benefits and requirements.