To apply for a Panama Pensionado Visa, foreigners must receive a pension from the government, private company or international organizations. They must have a minimum pension of $ 1,000 per month (can not be less than this amount) and has to be a lifetime income.
Another option is the purchase of a property in Panama in a personal capacity for a sum over $ 100,000.
Requirements and documents to retire in Panama as a foreigner
- Full and notarized copy of passport.
- Police Record.
- Medical certificate.
- Certificate of pensioner where it proves that it receives the minimum life pension of $ 1,000 per month or the equivalent of another currency.
- Affidavit of personal history.
- Payments to the national government: $ 250 in favor of the national treasury for entitlement to the application for an immigration status, and $ 800 in the name of migration as a repatriation deposit.
- You may pay an additional $ 250 per dependent as an application fee for the Panama Immigration Service.
Benefits of Retirement in Panama
- Exoneration of the import tax, once, in all your goods and personal belongings up to the sum of $ 10,000.
- Retirees who purchase a home of more than $ 200,000 are entitled to a residency visa.
- Exoneration of 100% of the property tax for a single dwelling.
- 10% on prescription drugs.
- 25% discount on restaurants.
- 25% discount on air fares.
- 15% discount on fast food restaurants.
- and more.
When you think about buying a property in Panama you need the help of someone who knows how the process of buying and selling your home in Panama is. At TDI Real Estate we are experts in buying and selling properties in Panama, and we can help you find the right property for you.