Best Places to Retire

Panama

The article is for information only. If you plan to invest or buy property, seek advice from a real estate attorney and accountant. Visit Panama’s website for more information. https://www.embassyofpanama.org/

  1. Panama is the most secure country in the region.
  2. #1 Connectivity maritime, logistic, financial, and aerial
  3. The country has a natural beauty from mountains, waterfalls, beaches, and a beautiful city.
  4. Panama is ranked as the fourth best place to retire globally. The country uses the U.S. dollar and has a top retirement program called the Panama Pensionado. This program gives excellent rewards to retirees, no matter their age. These rewards include not having to pay taxes on household items and being able to bring in a new car every two years. Retirees also get discounts on utility bills, medicine, and entertainment.

To qualify for these benefits, foreign residents of Panama must have a Pensionado visa and provide proof of a minimum income of $1,000 per month, plus an additional $200 for each dependent. Those over t5 (for women) and 60 (for men) are entitled to most retiree incentives, except for the tax-free importation of cars. To reside in Panama, you must visit for at least one day per year. It’s essential to verify the current requirements and benefits with official sources.

5. Panama counts with a Friendly Nation Visa Program: a residency program for foreigners from specific countries who maintain friendly professional, economic, and investment relationships with Panana. Through this program, permanent resident status is approved and offered to more than 50 countries. Through this program, the applicant owns a minimum of $300,000in real estate ($500,000 after October 2024). The countries are the following:

  1. Andorra
  2. Argentina
  3. Australia
  4. Austria
  5. Belgium
  6. Brazil
  7. Canada
  8. Chile
  9. Costa Rica
  10. Croatia
  11. Cyprus
  12. Czech Republic
  13. Denmark
  14. Estonia
  15. Finland
  16. France
  17. Germany
  18. Greece
  19. Hong Kong
  20. Hungary
  21. Ireland
  22. Israel
  23. Japan
  24. Latvia
  25. Liechtenstein
  26. Lithuania
  27. Luxembourg
  28. Malta
  29. Monaco
  30. Montenegro
  31. Netherlands
  32. New Zealand
  33. Norway
  34. Paraguay
  35. Poland
  36. Portugal
  37. San Marino
  38. Serbia
  39. Singapore
  40. Slovakia
  41. Slovenia
  42. South Africa
  43. South Korea
  44. Spain
  45. Sweden
  46. Switzerland
  47. Taiwan
  48. United Kingdom
  49. United States of America
  50. Uruguay

 Please note that this list might have changed since then, and it’s essential to verify the current list from official sources or the Panamanian government’s immigration website. Also, entry and residency requirements can vary, so consulting with the appropriate authorities or legal experts is recommended if you consider applying for the Friendly Nations Visa.

  1. Worldwide premium health care.
  2. The real estate industry is organized, regulated, and managed like in the United States, which benefits buyers and investors.
  3. To qualify, Panama investors do not need special permits, authorization, or registration. The 1998 Investment Stability Law protects foreign investors for ten years after their investment is registered, safeguarding them against any changes in tax, customs duties, and municipal and labor laws. You can buy properties through a corporation in Panama and have benefits.

The 1998 Investment Stability Law in Panama does protect investors for a few years after their investment is registered. This protection aims to shield investors from changes in tax, customs duties, and certain legal aspects.

  1. Copa Airlines offers a program called the “Copa Stopover. This program allows travelers flying with Copa Airlines to stop in Panama City, Panama, for up to seven days at no additional airfare. During this stopover, travelers could explore Panama City and experience some of the country’s attractions before continuing their journey to their destination.
  2. Multicultural community Panama is a vibrant multicultural community where diverse cultures coexist.