There's always the conventional visas: getting married to a Panamanian or studying in a local institution. However, here are some special resident visas that have become very popular recently.

Special and immigration visas

•  The tourist Pensioner Visa or Retiree's visa has an income requirement established by Panama of US$500.00 per month and US$100.00 per dependant. It may be issued to those who receive a monthly income from retirement sources such as Social Security, Government or Private Companies.

•  The Private Income Retiree Visa has an income requirement of US$750.oo per month earned from CD at the National Bank of Panama . As current interest rates, the CD could run around US$200,000.00. The deposit should be renewed every five years to maintain the Visa status.

•  The Person of Means Visa may be obtained by complying with one of the following options: 1. Purchasing real property worth at least US$200,000.00 in Panama . 2. Opening a CD deposited in a Panamanian Bank of at least US$200,000.00. 3. A combination of the two above worth at least US$200,000.00.

Retirement in Panama

If you've followed any of the major survey agencies around the world that rate places for retirement, Panama has been on top of the list in many, and for a few years running. For the fourth time in a row, Panama is ranked number one for retirement living.

Panama has the best “pensionado” program (retirement program for foreigners) in the world. Panamanian or alien residents living in national territory who are 55 years of age or more, for women, and 62 years or more, for men and all retired or pensioned persons or disabled people on pensions regardless of age, will enjoy generous benefits ranging from 15 to 50% on entertainment, health care, travel fares and more.

•  Importation of all your personal and household goods and a car free of taxes.

•  Right to import a new car every two years free of taxes.

•  25% off domestic and international airline tickets.

•  50% off entertainment including movies, concerts, theater.

•  (movie ticket for $2.00)

•  25% off restaurants.

•  50% off hotel accommodations Monday-Thursday.

•  30% off bus, boat and train fares.

•  10% prescription medicines.

•  15% off dental and eye exams.

•  50% off closing costs for home loans.

•  30% off hotels from Friday through Sunday.

•  15% off fast food restaurants.

•  15% off hospital bills (if no insurance applies).

•  20% off doctor's consultations.

•  20% off professional and technical services.

Again, we're not experts in this area, so please consult with a lawyer.  Check our legal services page to find lawyers who are known to provide good service.