Benefits for Foreign Retirees

The government of Panama has the best incentive program in the world for foreign retirees.

Some of the benefits are:

One-time importation duty exemption on all your personal and household goods up to $10,000.

Importation duty exemption of a car free of taxes every two years. (Other taxes do apply)

All foreigners ( not just retirees) who purchase a home of more than $200,000 have the right to a residency visa.

100% Property tax exemption for sole residence

The following benefits are for all retirees- both Foreign residents and Panamanian:

50% off closing costs for home loans.

25% off both international and domestic airline tickets.

50% off hotel accomodations Monday-Thursday

10% off prescription medicines ( which are inexpensive to begin with)

15% off dental and eye exams.

30% off bus, boat and train fares.

25% Restaurants

25% Airfares

15% Fast Food Restaurants

20% Doctor visits and Surgery

25% Monthly energy, phone and water bill

15% Optometry services

15% Dental

50% Hotel from Monday thru Thursday and 30% on weekends

50% off entertainment including movies, concerts, sporting events and theater everyday. ( This means for example, a movie ticket will cost you $2. And Panamanian cinemas receive American movies about the same time they come out in the States.)

In Panama all banks (mandated by law) have special express lines for Retirees.

And don’t forget, you can hire a full time maid for less than $200 a month. That is probably the most helpful “retiree benefit”.

No doubt about it- Panama is the most Retiree-Friendly country in the world.

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