Although many countries were evaluated and considered, Panama once again ranks number one as the best and most friendly retirement destination in the world. The International Living’s Retirement Index—organization in charge of the study—has described this country as “convenient and affordable”. The advantages of retiring in Panama are more than its relaxing tropical beaches, entertaining lifestyle, and booming economics. It also offers retirees a program known as Pensionado. The program is a unique benefit plan instituted in the late 80s that should delight all retirees perfectly.
Beware! The next list of discounts and courtesies may accelerate your heart rate! Prepare yoursel:
- Freely enjoy the country’s cultural vibe with half priced movie tickets, sporting events, concerts and plays.
- Get around either on a bus, a boat or a train with a 30% off discount
- Enjoy your meal with 15% off any fast food restaurants and 25% off regular restaurants.
- 15% off on all your dental and optometry exams.
- 10% discount on prescription drugs
- Do not forget about the express line in banks.
- One of the most attractive benefits is the amazing 25% discount on the purchase of any air ticket. Visit family and friends with no regrets.
- Stay on your favorite hotels paying 50% less during the week and 30% on weekends.
- Still not shocked? You would be also entitled to import a car every two years free of taxes.
- When buying a home exceeding 200,000 dollars, you automatically own right to a residence visa. Incredible!
- 100% Exemption from property tax for a single dwelling.
- 50% discount on closing costs for home loans.
- Exemption from import tax, only once, in all goods and goods for personal use up to the sum of $ 10,000.
- Regardless of any future law, once a pensioner, you will always be a pensioner. Your status would be irrevocably protected by law.
- On top of all this, the Government subsidizes 75% of your electricity, water and telephone bills.
No, we are not kidding! Continue to read these simple steps in order to get your Pensionado status in Panama:
- All international retirement documents must be authenticated by a notary and your nearest Panamanian Consulate within two months from applying date.
- You must have a valid passport within 6 months from the applying date.
- In case of enlisting a husband or wife, the Government requires a copy of your marriage certificate, as well as birth certificates when it comes to underage children.
- You would need a good-health certificate issued by a Panamanian health institution.
- Clear police record.
- Four passport size pictures.
- One of the most important requirements is to legally prove a minimum of 1,000 dollars pension from any government. In case of having a spouse you could gather this amount by the sum of both pensions.
These simple steps open wide doors to a world of unbelievable privileges not seen in any other place of the world apart from Panama. It’s exotic white sand beaches and crystal clear waters, undeniably beautiful mountain landscapes, modern city and of course, excellent pensionado project, makes of this country your number zero retirement option.