An increasing number of people are choosing to spend their retirement years in Panama. One of the reasons why Panama is such an attractive destination is the government’s pensionado visa. Over the years, this program has gained a reputation as one of the best retiree schemes in the world. The pensionado program offers unique benefits that are hard to find anywhere else. Which means you can spend more time enjoying your retirement.
Best of all, the pensionado program is available to foreigners. By meeting a few simple requirements you may be eligible to apply for a pensionado visa. That means you can retire in Panama at a fraction of the cost of what it would cost to retire in many other countries.
( Watch the video below or read on to learn more)
Why Panama is a Great Place to Retire
Ease of Living in Panama
What is a Pensionado Visa?
Benefits of a Pensionado Visa
- 50% off entertainment anywhere in the country (movies, concerts, sports)
- 30% off domestic transportation fares (trains, buses, public transportation, boats)
- 25% off domestic and international flights
- 50% off midweek hotel stays
- 30% off weekend hotel stays
- 25% off at sit-down restaurants
- 15% off at fast-food restaurants
- 15% off hospital bills (if no insurance applies)
- 10% off prescription medicines
- 20% off doctors visits
- 15% off dental and eye exams
- 20% off professional and technical services
- 50% reduction in closing costs for home loans
- 25% discounts on utility bills
- 15% off loans made in your name
- 1% off home mortgages for homes used for personal residence
As you can see, the savings available are extensive. When you add this to the already low cost of living and high quality of life available in Panama, it makes it clear why the pensionado visa is so popular. For retired individuals, this is a great deal to enjoy the rest of their lives to the fullest at a fraction of the cost. And unlike some countries, Panama will never arbitrarily rescind your pensionado visa. Even if future requirements for the visa change!
Applying for a Pensionado Visa
I am a retired us citizen and I am interested in getting pensionado Visa to panama.
Can I bring in Capital in lieu of the “lifetime pension”
Hi Gary, there are quite a few options in terms of visas here. Would you like me to put you in touch with a Panama immigration attorney?
email@example.com/ John W. Phillips. +1 405-422-1828. Looking for an honest, English-speaking attorney. What do you think of David? I don’t mind heat and humidity. How difficult for me to find a landlord who will allow me to have my dog? Going for a Pensionado Visa. Curious about health insurance. I will be 70 in the Fall.
i have the same question.
My wife and I are both pensioners and South African citizens. We are considering relocating to one of a number of countries we have shortlisted. Where can we obtain more detailed information regarding this Pensionada Visa.
Can a retiree, who speaks no Spanish, be happy in Panama? Are there expat communities? Learning Spanish possible at age 69? Even if not permanently relocating this is a great Plan B!
Well Jim, the only way to really know is come down for a bit! There are definitely quite a few folks who move down here full time and dont speak any Spanish.
can I own a business (not working) if I have a pensionado visa??
Hello Kent Davis,
Would you please put me in touch with a Panama certified immigration attorney? Thanks.
I have a question I haven’t seen asked anywhere….I realize you can’t work in Panama on a pensionado visa, but how is “in Panama” defined? If I am receiving commissions or fees from clients in the US that go directly into my US bank account, and I don’t have to report that to Panama for tax purposes, is it legal for me to make that income while living in Panama on a pensionado visa ? My fixed income is rather low and I would like to supplement it for a few years with a little part-time work out of the US. I wouldn’t want to jeopardize my eligibility for the pensionado visa but am wondering if this is legally permissible. Thank you in advance!
Hi Deb, absolutely! Panama is on a territorial tax system, meaning only money you earn inside Panama is taxable. So living in Panama but deriving income, especially if it gets deposited to an account outside of Panama, would be considered tax free for Panama’s purposes.
Joel W Stephens
I am a US Citizen that will be applying in 2023 for my pensionado status. What US Govt Authority should I contact to get the document that shows the company administering the pension is in good standing? I wouldnt know where to begin. Is there any formal authentication required on that document or just a signature on a letterhead?
Joel your best bet is to connect with a Panama based attorney for this question related to the Pensionado Visa.
JOEL W STEPHENS
If my wife is processed as a dependent, does she get the same benefits as me for pensionado status?
Hello Joel, yes. She should have the same benefits for pensionado status in Panama that you do if she’s listed as a dependent.
Hi Kent , could you please refer few contact that deal with
Pensionado Visa .
I am in the process already but there is no complete clarity
the exact list of documents legalized needed ?
so if you have somebody proficient in this area – would be greatly appreciated
Hi Henry, absolutely! We’ve just introduced you via email to an attorney who can help you get your pensionado visa in Panama.