Many retirees and pensioners are looking for new destinations to spend the rest of their lives. In this context, Panama is the preferred one for having great incentives for retiring in Panama and a high quality of life. Besides having paradisiacal tropical beaches and wonderful natural landscapes, the economic advantages make the Central American country a privileged place to live.
In Panama, to receive the Permanent Residence people must present the required documentation that certifies a pension or retirement equal or greater than 1000 USD. The lawyers of Legal Solutions Panama work to advise all the persons who want to reside or invest in the Central American country.
Affordable housing
One of the great benefits of Panama is the price of housing. As for rent, people can spend per month from 450 USD in more rural areas. On the other hand, about the purchase of properties can be acquired from 100,000 USD.
In Panama City and other more urban areas, rent ranges from 700 USD to 5000 USD. However, the standard price ranges from USD 1,000 to USD 1,500.
Accessible health system
Another great benefit for retirees and pensioners is that it is easy to access the Panamanian healthcare system. The Pensionado Program means that foreigners can access medical services at reduced prices, including medical consultations, treatments, and medicines.
The private health care system is very affordable with monthly premiums ranging from $60 per month. In this sense, guaranteeing the well-being of retirees and pensioners does not imply a huge out-of-pocket expense.
Good public transport system
Public transportation includes buses and subways, which cost below 50 cents (US cents). For the more comfortable people, cabs are also good options, with flag downs of 1.50 USD.
In addition, some foreigners living in Panama prefer to use apps such as UBER, which works efficiently and has low fares depending on the time of day and traffic conditions.
Culture and entertainment
Among all these advantages, Panama is a great epicenter of theater, festivals, and music, so it is chosen in many parts of the world as a destination. In addition, there are natural outings in the mountains or beaches that are charge free.
There are even varied options for sports and recreational activities in various parts of the country, spending between 200 and 400 USD per month.
Expenses on documents
The price for the application of the Residence Permit for Retired or Pensioned in Panama is composed of different expenses: notary, registry, stamps, transactional, transportation, certificates, proof of kinship, SNM registration, etc. including processing card, residence card, and multiple visa.
In the year 2024, the following values are some of the stipulated:
- Processing fee: USD 50.
- Transaction fees: USD 90.
- Resident card: USD 100.
- Multiple Visa: USD 50.
- Health Certificate: USD 12.
- Certification of foreign currency (if applicable): USD 16.05.
- Fees for applying for an identification card: USD 100.
- Transportation and mobilization: USD 110.
- Registration of foreigners: USD 5.
Consult lawyers at Legal Solutions Panama to obtain your retirement in Panama
For all the people who want to spend their years in Panama, Legal Solutions Panama provides specialized assistance, helping to complete all the requirements to obtain a Retirement visa.
To know more about this proposal, people can just make an appointment for a free consultation and the professionals will help them. To find out more information, the website is available.
