Panama law sets forth numerous benefits and discounts for its Pensionados.
There are 2 types of Pensionados in Panama:
1. Minimum age 55 for women and 60 for men for all residents of Panama whether they are Panamanian or of different nationalities.
2. All Pensionado Visa holders (regardless of age) are also entitled to these benefits.
Here is a Summary of the Benefits:
– One time Duty tax exemption for household goods up to a total of $10,000.
– Duty exemption for importing a new car every two years.
– 50% off entertainment anywhere in the country (movies, concerts, sports)
– 30% off bus, boat, and train fares
– 25% off airline tickets
– 50% off hotel stays from Monday through Thursday
– 30% off hotel stays from Friday through Sunday
– 25% off at restaurants
– 15% off at fast-food restaurants
– 15% off hospital bills (if no insurance applies)
– 10% off prescription medicines
– 20% off medical consultations
– 15% off dental and eye exams
– 20% off professional and technical services
– 50% reduction in closing costs for home loans
– 25% discounts on utility bills
– 15% off loans made in your name
– 1% less on home mortgages for homes used for personal residence
These are discounts on top of the already low prices compared to the
USA, Canada, or Europe.
If you are interested in relocating to Panama, or obtaining legal residency in Panama, please contact us for a personal consultation.