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Want to Be Treated Like Royalty As a Retiree? – You Need to Check Out Panama’s Pensionado Visa

By on January 22, 2012 in Discover Panama

There is a reason that Panama is consistently ranked in the top ten countries in the world to retire. It’s pensionado (retiree) visa provides one of the most advantageous retirement programs in the world. Panama wants you to retire to their country and has provided benefits through this retiree visa that amply demonstrate their desire. This visa’s list of benefits far outshines that of most other retirement destinations. I know from experience. Panama’s pensionado visa is my retirement choice.

Since its inception in June of 1987, the Panama pensionado visa has continued to improve. The amount of annual retirement income to qualify has increased (It is now $1,000 per month for a single person, and $1250 for a couple), but so have the benefits. It is basically a lifetime visa for foreign retirees which is available to persons as young as eighteen years of age. Once your application has been approved and you receive your visa, you begin to receive discounts ranging from 10% to 50% on everything from doctor visits to movie tickets simply by showing your pensionado visa. There are special lines reserved strictly for pensionados at banks. This is even better than the Jubilado retiree program for the native Panamanians.

Where else could you get the following benefits simply by showing one identification card?

25% off of airline tickets for flights in country or if purchased with Panama’s COPA airline 20% off of medical consultations 15% discount services in hospital and private clinics 30% to 50% off of hotel stays – depends on the day of the week 50% off of closing costs on home loans 15% off in fast food restaurants and 25% off in sit down restaurants 30% discount on city buses, boats, and Panama trains 15% off on dentist fees (fees already low compared to a lot of other countries) 25% discount to your electric bill up to 600KW’s 25% on basic residential phone service charges The right to buy a car every two years free of import duty The right to bring in up to $10,000 in personal goods with no import duty

Keep in mind that this is not a complete list of the benefits to be derived from having a pensionado visa in Panama

Likewise, the application process is thorough but simple.

By law the application must be processed through a Panamanian attorney Minimum age for applying is 18, under 18 must be as a dependent Applicant must be receiving a documentable pension for life of at least $1000 per month Application must be made in person in Panama

All required documents must be certified by a Panamanian Consulate/Embassy or certified by the internationally approved apostille method. The following documents are required and none can be dated earlier than 90 days prior to the application. Passports should have at least 8 months remaining before expiration.

The required documents include:

a valid passport 6 passport size photos letter or certification from your pension provider documenting income copy of a police report for you, spouse, and any dependents over 18 years of age from your local law enforcement agency a marriage certificate if your spouse is listed as a dependent birth certificate for any dependent children a medical report (to be done by a Panamanian doctor)

Most attorneys suggest having all of your documents in hand and properly authenticated before having your application appointment with them. They also say you should allow about 4 days to complete the process. In my case I was able to submit the application to the attorney, get the physical exam, and register with immigration all in one day. The documents must be translated into Spanish before the attorney submits the completed application. This service is generally included as part of the attorney’s fees.

If the above information interests you, start looking for a Panamanian attorney and get the process started. The sooner you get started the sooner you can retire to Panama and be treated like royalty.

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Retirement Planning – Why Everybody Wants to Settle Down in Panama After Retirement

By on June 28, 2011 in Adventures

Panama, which is already very popular as an eco and adventure tourism destination, is now gaining reputation as one of the best places to settle down in after retirement. According to Modern Maturity Magazine, published by AARP (American Association of Retired People), Boquete, a Panamanian town, has been ranked fourth among its list of the world’s fifteen best retirement destinations for Americans.

Panama’s attractiveness as a retirement location is not hard to define. Most people find it easy to settle down here because of the country’s easygoing lifestyle, high quality living, incentives given to retirees, along with modern facilities and services.

Apart from all that, Panama also scores because the country is so incredibly lovely. Because the Isthmus is located at the juncture between northern and southern America, the diverse plant and animal life found here is unique. The residential locations are equally diverse, ranging over mountain, city, beachfront and even island settings, so that people can find a place according to their taste and choice. Plus, although a foreigner, you have the same protections and rights to purchase and own property as a Panamanian.

Also, because of various factors, such as the American military pulling out of the area, the real estate prices in Panama have not changed much since the 1990s, except for some places like the Bocas del Toro archipelago islands and Boquete, which have become hot destinations.

As for safety, which is one of the most important considerations of retirees, Panama has been rated the highest for the safety of tourists by the reputable Pinkerton Intelligence Agency. Plus, Panama is a stable democracy and has a vibrant economy.

Regarding standards of health care, Panama is ranked amongst the topmost in Latin American countries. Many Panamanian physicians have had their training in the U.S. and Europe and are bilingual. Private medical facilities, many of which are associated with major hospitals in the U.S., are also available and are considered amongst the topmost in Central America. Additionally, potable water is available in most parts of the country, while it can be drunk right from the tap in the cities.

One of the main concerns retirees have is how to make the most of their retirement money. Panama’s currency has always been the U.S. dollar. Panama also boasts having the branches of most of the major international banks. Plus, the cost of living is affordable and a good deal less than in the U.S. and Europe. Also, retirees get generous discounts like 50 percent on cultural events and movies, 30 percent on transportation, 25 percent on airline tickets, 25 percent on utility bills, 20 percent on doctor’s bills, 15 percent on loans in your name, 10 percent on medicines, and 1 percent on mortgages in your name.

Staying in touch with family, friends and the world is easy. Cellular telephone networks, high-speed Internet connection, and ADSL in-home telephone facilities are readily available, along with cable TV. As for accessibility, the Tocumen International Airport is serviced by most major airlines like Delta and American. In addition, COPA, Panama’s international airline, has services to 29 cities in nineteen countries, and also has direct flights from Los Angeles, Houston, Miami, Orlando and Newark.

And to top it all, getting a retiree visa is an inexpensive and simple process. The only things you require are a “clean” report by the police of the place you resided in before moving to Panama, a health certificate from a Panamanian physician, along with proof of $500 per month of personal income, plus $100 if you have any dependents.

As is evident by all the above mentioned benefits, it is easy to understand why Panama is so popular as a retiree destination.

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