Panama offers affordable healthcare, a welcoming expat community, and a variety of residency programs. Our team at Mata & Pitti can help you navigate the relocation process with real estate and migration laws. Those retiring in Panama may benefit from our migration specialists, who help you through the legalities of the process. Here’s how to gain residency in Panama:

Why Retire in Panama?

The country offers a tropical climate, beaches, and modern infrastructure for those retiring in Panama. The country also offers retirement programs designed specifically for retirees. Some programs include numerous benefits, such as tax exemptions and discounts on a variety of goods and services. Whether you’re looking to live in a city or a quieter area like Boquete, there are options for every lifestyle. Panama’s healthcare system offers modern medical facilities, English-speaking doctors, and affordable health insurance. This helps retirees who are seeking both comfort and cost savings.

The Residency Programs

Residency programs offer benefits for foreign residents and retirees to obtain temporary or permanent residency. The investor visa program helps people become residents of Panama for personal or professional reasons. The Qualified Investor Visa program requires a minimum investment of $300,000 in real estate. Applicants must keep their properties for five years. The investment minimum will increase to $500,000 after October 2024.

The Panama Friendly Nations Visa program allows citizens from over 50 nations, including the U.S., Canada, and the U.K. While this visa is not exclusive to retirees, it is often used by those who want to gain residency through work or investment. Applicants must demonstrate economic or professional ties to Panama, such as owning property or a business or securing employment within the country.

The Self-Economic Solvency Visa Retirees is ideal for individuals looking to invest in Panama, whether by purchasing real estate or depositing a sizable sum into a Panamanian bank account. The minimum investment is around $300,000, making it suitable for those who prefer to invest their wealth in exchange for residency.

Each of these residency options has its own requirements and benefits, and one of our team members at Mata & Pitti can help determine which program best suits your needs.

Navigating the Legal Requirements

Panama’s legal system has due diligence requirements that retirees must meet for their applications to be successful. To comply with Panama’s legal standards, applicants must undergo background checks and provide authenticated documentation. Other documents, such as proof of pension and medical certification, must be properly verified. Our team can help assist and navigate the legalities of residency programs and due diligence requirements. We make sure that retirees avoid any issues, from paperwork errors to delays in processing. 

Mata & Pitti: Retiring in Panama

Retiring in Panama offers many benefits, from a warm climate and low cost of living to a variety of residency programs that cater to retirees’ unique needs. By working with experienced legal professionals and fulfilling the necessary requirements, retirees can make a smooth transition to life in Panama. Contact our team today to learn more about residency programs and relocation processes.