Panama offers a beautiful landscape and travel opportunities for international retirees. If you are looking into retiring in Panama, the lawyers at Mata & Pitti can help you through the process of receiving a visa. Here are four things to know about the lifestyle for retirees in Panama:
1. Healthcare Options
In Panama, retirees can receive high-quality healthcare in modern facilities. Many doctors in Panama speak English. This makes the process of obtaining healthcare easier for retirees who are new to speaking Spanish.
The Pensioner visa allows retirees to achieve residency status in Panama. You can apply for permanent residency within five to six months of relocating to the country. With this visa, retirees receive discounted healthcare, including discounts on hospital stays, prescription drugs, and healthcare services. Discounts for dental and eye exams are also available to visa holders. Our team of lawyers at Mata & Pitti can help you gather and submit the paperwork needed for your Pensioner visa application.
2. Tax Benefits
Retiring in Panama offers tax advantages that help retirees save money. Panama does not charge income tax on income earned in the country of origin. This protects your Social Security and pension from taxation. With the Pensioner visa, retirees also receive import tax exemption on household articles and domestic vehicles. These exemptions help simplify the international moving process.
3. Real Estate Opportunities
Panama offers real estate opportunities across the country’s various landscapes, including cities, tropical beaches, and mountains. Retirees can purchase a beachfront home, a mountain residence, or a home within a gated community in the city. The housing options in Panama allow retirees to find an apartment, a small home, or a luxurious property that matches their lifestyle preferences and budget. Panama’s qualified investor visa allows international individuals to purchase property at a minimum value to receive permanent residency in the country.
4. Travel and Leisure Activities
Retirees have access to many leisure and travel opportunities in Panama. Those with a Pensioner visa receive discounts on fast food, restaurants, flights, public transportation, and hotels. Panama is a midway point between North and South America, with nonstop flights to Tocumen International Airport. Daily direct flights to U.S. cities such as Atlanta, New York, and Los Angeles are also available. This allows retirees to travel to the U.S. easily and enables family members to fly directly to Panama to visit their parents and grandparents. Retirees looking to travel internationally can fly to Paris, Madrid, Frankfurt, or other cities on a daily direct flight.
For active recreational opportunities, you can hike in Panama’s tropical rainforests, visit a national park, or participate in the city’s active nightlife. To relax, you can spend time on one of Panama’s tropical beaches. Visa discounts are also available for movies, concerts, and sporting events.
Learn More About Retiring in Panama
Mata & Pitti provides information about the available residency programs and offers referrals for investment opportunities. We are knowledgeable in migration law and can help you learn about banking and living in Panama. To learn more about the process of retiring in Panama, fill out our online form or email us today.