When you retire to Panama you will find your move here to be an instance of easy in… not so easy out. Unlike many foreign destinations, retirees can obtain a resident visa in Panama with relative ease. The problem is, once you settle down in paradise, you might never want to leave!

The people of Panama want you for a neighbor. This retiree friendly nation has rolled out the red carpet to seniors from around the world and things couldn’t have worked out better for both sides.

There are several different ways to obtain your visa when retiring to Panama, but the most popular is also the easiest. This option is called a “Retirement Visa”. To get one all you have to do is prove a monthly income of greater than $500, provide a standardized health certificate, and pass a background check. If you decide to stick around a while, you can upgrade to a “Home Buyer’s Visa” by purchasing of a home worth $200,000 or more. This option allows you to begin working toward the many advantages of dual citizenship.

Panama takes its visa program seriously, but you will find that the folks in immigration are patient and always willing to lend a hand when needed. Immigration laws here offer something of a “reset” button as well. If you should overstay your visa, all you have to do is leave the country for a few days then re-enter. This resets your immigration clock, and you can begin again.

When calculating your retirement budget remember that spending your golden years here can help you stretch your dollars in many ways. For example, when you retire to Panama, you will no longer have to pay taxes on income you earn outside of the country. In addition, if you buy your retirement home with the right guidance, you won’t have to pay property taxes for up to 20 years. These two factors alone will usually save upwards of 30% of the dollars you are now spending back home.

It is also important to remember that Panamanian law allows you to invest and bank in secrecy. The mechanisms that make this financial privacy possible have also produced one of the best estate management jurisdictions on earth.

The people of Panama want you to retire here. As proof, the Panamanian government has instituted one of the most generous senior discount programs on earth. Panama’s “Pensionado Program” provides qualified retirees with discounts on a wide range of good and services. You’ll save up to 50% off of regular ticket prices for entertainment options like movies, theaters, sporting events, etc. Qualified seniors also save 50% off of the price of mid-week hotel stays, 50% off of the cost of closing your home mortgage, 30% off public transport costs, 25% off domestic air tickets, 25% off at restaurants, 20% off of professional and home repair fees, 20% off the already low cost of a Doctor’s care, 5% off of your hospital bills if you are not insured, 15% off of the cost of dental and eye exams, 10% off on local prescription prices… and more!

If you are thinking about retiring in Panama or just visiting to develop an asset protection, business, banking, or investment strategy, make sure to begin by building a strong relationship with a local attorney. There are many third party sources able to help you select the best one for your needs. These groups provide unbiased reviews of providers in Panama’s professional community speeding you to a successful pairing.

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