PANAMA PENSIONADO VISA PROGRAM

(Excerpt)

Law #6 of 1987

World’s best incentive program for retirees.

For women over age 55 and men over age 60.

This program offers retirees excellent tax holidays and dozens of money-saving discounts such as (list not exhaustive):

Tax exemption to import a car every 2 years.

Import tax exemption for furniture, appliances and fixtures up to $ 10,000.

50 % discount in movie theaters, cultural and sporting events.

30 % discount on train, buses and boat transportation and 25% on air travel.

50% discount in costs or commissions for personal and commercial loans.

15 % discount on interest rate for personal and commercial loans.

1 % reduction on home mortgages for personal use, except preferential rate.

25 % reduction on your water, telephone and electricity bills.

20 % discount on consultations with general practitioners or specialized physicians.

50% discount on regular priced hotels and motels (Monday through Thursday), 30% discount (Friday through Sunday).

25% discount on restaurants.

15% discount on hospital services and other health services when covered by health insurance.

10% discount in pharmacies for prescription drugs.

20% discount on all technical and professional services.

20% discount on prosthetic and help products.

50% discount in passport costs.

A freeze on Real estate tax when the property is the owner’s sole Real estate.