If you’re considering moving to a retirement-friendly country when you’re ready to quit working, it’s time to learn more about Panama residency. Panama offers several benefits for retirees seeking residency. Mata & Pitti Attorneys at Law can help you meet the requirements for a Panama residency visa. Here is more information about gaining residency and retiring in Panama:

How To Become a Panama Resident

Panama offers several residency programs for people who want to move to the country. The program you apply to depends on your purpose for living in the country. For those planning to retire, consider going through the Pensioner Visa Program. Mata & Pitti can help you understand this program’s details and make sure you meet the requirements.

To become a Panama resident, you must provide notarized proof of income and authenticated identification documents. Your passport must have at least a year left before expiration, and all documents must be notarized and certified by a Panamanian consulate. Once you have held a temporary residency visa for two years, you can apply for permanent residency in Panama.

Documents Needed for Panama Residency

To become a resident of Panama, you’ll need to provide several documents. You’ll first fill out an application with an original passport and a photocopy of the passport. You’ll then provide an affidavit of your background. It is required that you undergo a medical examination and provide a copy of the exam notes with your application documents. You must agree to undergo a background check, which includes an examination of your criminal history. You will also need to contact your pensioner and have them provide a letter that states your access to a pension for the rest of your life.

If your spouse is retiring to Panama with you, they must fill out an application and provide a copy of the marriage certificate. You must both get a health examination and certificate in Panama. Mata & PItti can help you complete the paperwork necessary for approval as all applications must go through an attorney. Our team stays up-to-date on visa programs’ changing deadlines and requirements to help prevent the denial of your application.

Benefits of Retiring in Panama

Retiring in Panama comes with several benefits, including tax advantages. As a new Panama resident, you don’t have to pay property taxes for several years, depending on the property. You aren’t charged an import charge when bringing in a vehicle, and Panama provides exemptions for household goods. You can receive special discounts for medications, healthcare, airfare, restaurants, and more.

Panama also offers affordable living costs for those living on a pension. The country has a stable economy and uses the U.S. dollar as its legal currency. You’ll have access to modern healthcare services, and many treatments and procedures are more affordable than in other countries. Panama is a safe country and has few natural disasters. It also has a temperate climate and maintains a relatively moderate temperature all year.

Get Help Applying for Panama Residency

If you’re ready to retire or planning ahead for retirement, you can begin the process of becoming a Panama resident. Mata & Pitti has the legal experience to help you acquire and authenticate your visa documentation and understand the other requirements for becoming a resident of the country. Contact us to learn more about Panama residency or to get help starting your application today.