RESIDENT PERMIT UNDER SPECIAL REASONS FOR A RETIREE

 

 

The Pension Visa in Panama allows foreigners to obtain a Residence in Panama under the condition of having a guaranteed pension income for life. According to the National Migration Service of Panama, there is no minimum or maximum age to qualify under this modality, only the delivery of a series of documents listed below will be necessary.

 

The applicant’s lifetime pension income must be a minimum of $ 1,000 (US $ 1,000) per month. If your monthly lifetime income for a pension is less than one thousand (1,000) United States Dollars, but more than Seven hundred and Fifty ($ 750) American Dollars, you may invest in the Real Estate business by purchasing a property of at least One hundred thousand ($ 100,000) American Dollars, which reduces the requirement for monthly lifetime income to a minimum of Seven Hundred Fifty ($ 750) US Dollars.

 

Benefits of having a Pension Visa in Panama

 

Here is a summary of some of the benefits of having a Pension Visa in Panama:

 

Exemption for once of the payment of tax by the purchase of home articles until reaching the figure of $ 10,000 American Dollars.

50% discount in any part of the country in places of entertainment such as: cinemas, concert halls, sports events, etc.

30% discount on bus, boat and train fares.

25% discount on airfare fares.

50% discount on hotel stays from Monday to Thursday.

30% discount on hotel stays from Friday to Sunday.

25% discount on restaurants.

15% off fast food restaurants.

15% discount on hospital bills (in cases where you do not apply insurance)

10% discount on prescription drugs.

20% discount on medical consultations.

15% discount on dental and eye exams.

20% discount on professional and technical services.

50% discount on home loan closures.

25% discount on utility bills.

15% discount on loans made on your behalf.

1% less on mortgages for home use for personal residence.

 

Tax Exemptions: If you qualify to become a Pensioner Visa, you will be entitled to:

 

To be exempt from the Tax Payment (one time only) on the import of household goods up to a maximum value of $ 10,000 American Dollars

100% exemption in the payment of import taxes of vehicles every two (2) years.

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