Residency for retirees in Panama: one of the most affordable residency options

Thinking about where to retire entails many factors and requires decision-making. It's necessary to consider things like real estate, political and economic factors, cost of living, and quality of life. Nonetheless, there's a key aspect that comes before anything else: legal residency. 

As ambassadors of the perpetual traveler philosophy, Mundo is committed to offering the best alternatives out there, and the residency for retirees in Panama is one of them. Let's find out how to access one of the best retirement options in Latin America.

Why retire in Panama

If you're looking for a place where to retire, the above-mentioned country is definitely at the top of the list. The first thing we should point out is that it has easy access to the legal means for establishing in the country. 

Before deciding where to live or where to invest it’s necessary to understand if you will have access to a legal residency and for how long. Luckily, residency for retirees in Panama is possible through a program called the Pensionado Visa.

Why Panama is among the best places to retire

There are many things to say about Panama. From a financial point of view, it's a solid hub in the region and a world-known business center. Thanks to the Panama Canal and its smart policies, this is a coveted destination for nomad capitalists and international businesspeople. However, these factors may be appealing to companies or investors but why is this one of the best places to retire?

I want to retire: looking for optimal cost vs quality of living

When compared to the US or Europe, Panama has a singularity: it offers a high living standard at much lower costs. It's worth mentioning at this point the wide variety of high-end real estate alternatives thriving in the country. Some of the developments are already built and others are under construction, but either way, there's an ample scope. 

Mundo invites you to check out some of our featured articles on Panama real estate which include projects with all the main amenities and special senior living programs.

In Panama, retirees enjoy a number of benefits including discounts on medication, transportation, leisure, and entertainment. Throw to this a vibrant landscape, attractive landmarks, top shopping malls, fine international cuisine, and beaches on two different oceans, and the result is outstanding. Panama is not only a cheap place to retire but also a place to enjoy.

Get in touch here

After all, there's a reason why it has been chosen as one of the best places to live in the world above countries like Spain and Mexico.

Best places to retire: residency for retirees in Panama

Now the key part of our article: How do we make this possible? How to live in Panama 100% legally? Luckily this is accessible through Panama's Pensionado Visa, a program that's one-of-a-kind.

Basically, the main requirement is to have a lifetime pension of at least $1000 a month. Then, some variations and angles allow you to invest in real estate or add dependents.

Here, it's important to say that the visa doesn't have any age restriction. You may be looking for a cheap place to retire and find in Panama what you're looking for regardless of your age. If you have a widow’s or widower’s pension or a disability pension, you are eligible. 

I want to retire with dependents: who can I add?

Why retire in Panama? Among other reasons, it allows you to apply with your family. When it comes to the spouse, he or she can be added for the same amount ($1000/month). Children can be included in two different ways. If they are younger than 18 years you only need to present the birth certificate. If they are between 18 and 26 years old, they must prove to be financially dependent on the main applicant. It's important to note that they will lose their residency under Pensionado after they turn 26. Don’t let this discourage you because Panama has many other residency alternatives.

There's an option to lower the monthly minimum amount to 750 dollars by making a real estate investment of $100,000.

Disclaimer: this article provides a general overlook of residency for retirees in Panama through the Pensionado Program. However, details and requirements may change so this article should not be taken as migration advice. Before making important financial or migration decisions, it's necessary to conduct thorough research and consult with a certified professional.

Residency for retirees in Panama with Mundo

We are proud to say we have a solid base in Panama. We have an on-site team and many friends, partners, and contacts who have lived here for years. Our network of experts includes lawyers and advisers who can help you get residency for retirees in Panama straightforwardly.

Talk to us and we'll tell you about other residency options in this country or citizenship by investment in other jurisdictions.

When it comes to financial freedom, we are committed to making the wealthy free and the free wealthy, so they can achieve all their goals.

Contact your Mundo expert