A global survey indicates that foreign retirees and pensioners have chosen Panama as their retirement destination in 2025.

According to the Global Retirement Index by International Living and InterNations, 74% of respondents said they were satisfied with their financial situation, and 88% said their income was sufficient or more than sufficient to enjoy a comfortable life in Panama.

“Panama also offers flexible and secure immigration alternatives so that foreigners who receive a fixed income from their retirement can choose to reside legally in the country,” says Ericka Muñoz, a lawyer at BDS Asesores Panama.

Regarding this matter, Panama has had a visa for foreign retirees and pensioners since 1987. This immigration category allows any foreigner who is retired or receiving a lifetime pension from a foreign government, international organization, or private company to apply for a visa for retirees and pensioners.

Some specific features of this law include: it does not establish a minimum or maximum age for applying for a visa, so any foreigner who has a retirement or pension from a source outside of Panama and meets the requirements may apply. This visa does not allow for obtaining a work permit.

The most important requirement to apply for a retiree and pensioner visa in Panama is to have a minimum lifetime monthly income of $1,000. This income can come from Social Security or other foreign government retirement funds (military, state retirement, police pension, etc.), or from a private corporation.

Foreign retirees and pensioners whose income does not exceed $1,000 per month, but is above $750, will have the option of investing in real estate worth at least $100,000, allowing them to apply for a visa with a lower income.

The visa for foreign retirees and pensioners allows the option of including the primary applicant’s family members as dependents, whether this includes their spouse, minor children, children up to the age of 25, or children with a proven disability.

He emphasized that for each dependent, the minimum income of the primary applicant must increase by $250. Likewise, a married couple of foreign retirees or pensioners, whose joint income, duly certified, is $1,000 per month, may apply.

Through Law 6 of 1987, Panama offers a wide range of discounts and benefits to retirees, pensioners, and senior citizens, both nationals and foreigners, without distinction.

Based on Law 51 of 2005, whose reform is currently being discussed in the National Assembly, this benefit or discount is available to men aged 60 and over and to women aged 55 and over, and must be proven with a personal identification card.

The percentage discount to which retirees, pensioners, and senior citizens in the country are entitled varies depending on the good or service they intend to purchase. The main benefits or discounts are presented below: 50% on admission to recreational and entertainment activities, such as movie theaters and theaters; 50% from Monday to Thursday and 30% on Fridays, Saturdays, and Sundays on the regular prices of hotels, motels, and guesthouses; 25% off the value of an individual meal in any restaurant, except those that do not require a business license to operate; and 15% in fast-food establishments with national and international franchises.

In addition, there is a 15% discount on the total bill for services at hospitals and private clinics; a 10% discount on prescription medications at pharmacies; a 20% discount on fees for general medicine consultations and for medical and surgical specialties; a 15% discount on dental services and optometry services; and a 25% discount on utility bills, to name a few.

For all of the above, Panama is an ideal retirement destination, offering diverse environments, access to multiple services, the dollar as legal tender, political stability, access to healthcare, and tax benefits, among many other advantages.