Retiring in Panama

retiring in panama

A Great Retirement Destination:

Panama has been ranked by numerous sources as one of the best places in the world to retire. In September of this year, it has been recently announced that “For the sixth consecutive year, the same country has come out on top of the IL Global Retirement Index. After closely reviewing eight key factors: Real Estate Prices, Special Benefits for Retirees, Cost of Living, Safety and Stability, Health Care, Climate, Culture & Entertainment, and Infrastructure, Panama came out the top destination”. This is not surprising considering the attractive incentive program retirees receive (discounts of up to 50% off on entertainment, transportation, accommodations, restaurants, hospital bills, prescription medicines, medical consultation and exams, utility bills, and much more).

 

Their are endless benefits of the Pensionado Visa: Not only will you have access to all of the luxuries and comforts of your current life, but you will also have access to more of them because of Panama’s lower cost of living. By retiring in Panama, you will enjoy the benefits of a developing economy where you can still take a taxi across town for under $4, get your haircut for $5, or enjoy dinner with a bottle of wine at a trendy Panama City restaurant for under $20 a person. There are also lots activities for you to enjoy, from jazz clubs to art openings to English-language theater performances. You may be wondering what you will do when you retire…but when you retire in Panama, you will never find yourself bored.

 

Panamanian law also grants retirees a tax exemption package including:

Tax exemption to import a car every 2 years
Import tax exemption for households up to US$10,000
Tax freeze on property taxes
Residents do not pay tax on foreign earned income

 

Under the pensionado program, you will be entitled to :

50% off entertainment, such as movies, theater, concerts, and sporting event
30% off bus, boat, and train fares
25% off airline tickets
30 to 50% off hotel stays
15% off hospital bills
10% off prescription medicines
20% off medical consultations
15% off dental and eye exams
20% off professional and technical services
50% off closing costs for home loans
And more…

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