Why live, retire, and invest in 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/
- Panama is the most secure country in the region.
- #1 Connectivity maritime, logistic, financial, and aerial
- The country has a natural beauty from mountains, waterfalls, beaches, and a beautiful city.
- 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:
- Andorra
- Argentina
- Australia
- Austria
- Belgium
- Brazil
- Canada
- Chile
- Costa Rica
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hong Kong
- Hungary
- Ireland
- Israel
- Japan
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Malta
- Monaco
- Montenegro
- Netherlands
- New Zealand
- Norway
- Paraguay
- Poland
- Portugal
- San Marino
- Serbia
- Singapore
- Slovakia
- Slovenia
- South Africa
- South Korea
- Spain
- Sweden
- Switzerland
- Taiwan
- United Kingdom
- United States of America
- 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.
- Worldwide premium health care.
- The real estate industry is organized, regulated, and managed like in the United States, which benefits buyers and investors.
- 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.
- 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.
- Multicultural community Panama is a vibrant multicultural community where diverse cultures coexist.
