Retiring in Panama – Panama Retirement Visa Requirements
When moving to Panama with IntlMOVE Panama, you will need to obtain a Panamanian visa. For an easy, breezy life in your retirement years, consider moving to Panama with IntlMOVE Panama. The warm weather, beautiful surroundings and friendly people make this the perfect place to spend your golden years.
The standard of living in Panama is the closest you will find to the U.S. in Central America. However, there are some added benefits. Panama is one of the safest countries in the world. You can enjoy a charming small city or the hustle and bustle of city living in Panama City. Panama has it all.
To obtain a retirement visa, you must meet a few simple requirements. IntlMOVE Panama has put together some basic information on the retirement visa for your convenience. These benefits and requirements can be updated at any time, so it’s best always best to check with your local embassy or consulate.
Panama Retirement Visa Benefits
- You will not have to pay property taxes if you only own one piece of property.
- Hotel, restaurant, airline and public transportation and other discounts are available throughout Panama for retirement visa holders.
- You may not have to pay any duties on your household goods when shipping them from the U.S. to Panama. You will have a one-time exemption for up to $10,000.
- You can ship a car to Panama every two years for your own use.
- You will not be charged any income tax on your pension or any money earned outside of Panama.
- Taxes will not be assessed for the interest earned from your fixed term deposit.
- The U.S. dollar is used in Panama, so you will not have to convert your money to a foreign currency.
- A permanent residence permit can be granted, which is a valid status for life.
Requirements
- Applicants must have a valid passport from their home country.
- Acquire a health certificate from a certified medical doctor in Panama.
- An HIV test must be conducted and passed.
- Criminal history records must be presented to prove you are not a threat.
- You must have a minimum monthly income of $750invest in at least $100,000 in property. If you do not want to purchase a home for that much money, you must have a minimum income of $1,000 per month. You must have an additional $250 per month for each dependent.
It’s relatively easy to obtain a retirement visa in Panama in comparison to other country’s requirements. If you are looking for an amazing place to live, Panama will provide you with a wide variety of perks. When you have decided that Panama is the place you want to retire, contact IntlMOVE Panama to ship your household goods and personal effects.
