Retirement, today, is considered to be a new chapter that is set against the backdrop of the world’s most diverse landscapes, rich culture and exceptional quality of life.

 

For those choosing where to spend their retirement is a significant life-changing decision as it needs the right balance of lifestyle aspirations like cost of living, healthcare quality security and ease of residence.

 

This blog is designed for the discerning retiree and anyone dreaming of a retirement in Panama by providing a detailed roadmap for your journey and why this destination is among the top countries to retire in the world.

 

Retiring in Panama:Turn dreams into reality

Panama has since long been considered an excellent retirement destination in Latin America and there are solid reasons behind this thought process.

 

Easy documentation

Before landing to your new home in Panama it is essential to gather and legalize these documents:

  • Existing passport
  • Pension certificate issued by their respective government or authorized institution
  • Criminal record information ( should be duly apostilled six months before)
  • Certificate of martial status( if applicable)
  • Three passport size photographs

 

All these documents need to be translated in Spanish by an authorised public translator in Panama.

 

Accessibility

The Tocumen International Airport has direct connections with Europe and the United States offering a quick transfer for both family visits and businessmen.

 

For those looking for an epic entry at a leisurely pace, can travel by booking a Panama Canal cruise for 10 nights to Colon from Los Angles. As you cruise from one ocean to another, you pass through some of the most striking wonders of the modern world.

 

Legal benefits

Panama has boosted its strategic legal programs for those retiring in Panama through the Pensioner Visa program that provides multiple benefits,including residency, discounts and tax exemption in some areas.

 

Good quality of life

A distinct advantage of retired life in Panama is the excellent quality of life at a much lower cost than many other developed countries.

 

Also, healthcare is affordable, rents are competitive and low cost of living means your pension can pay for much more.

 

Political and economic stability

Panama is a country with an economy which uses the US dollar for sustainable growth and stable government. This ensures both legal and financial security for those wishing to stay long-term.

 

Good year-round climate

Another main reasons why people from other countries want to settle in Panama is the warm and tropical climate which is stable round the year.

 

Temperature here range between 24 degrees C to no more than 30 degrees C, snowfall is non-existent and retirees can enjoy a more active outdoor lifestyle.

 

Discount program inclusions

 Some of the discounts which apply to both local residents and foreigners with legal residence are:

  • 50% discount on cinema, theatre and concerts
  • 25% discount on air tickets and domestic ground transportation
  • 15% discount on hospital and medical services
  • 25% discount on electricity bills, up to a certain monthly consumption
  • 30% discount on interurban and interprovincial public transport costs
  • 10% discount on prescription drugs at pharmacies
  • In addition to above, Panama does not tax foreign pensions that present a significant legal and economic advantage for those wishing to optimize your income after retirement.
  • Partial exemption from custom duties up to a certain amount
  • Tax-free exemption for import of one survey two years

 

The journey to find an ideal retirement destination is more about self-discovery and less about global exploration.The timeless allure of Panama presents a unique tapestry of lifestyle, food, climate and opportunity to create a potential blueprint for your golden years.