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Law #9: Panama Is The Greatest!

By Jane Goodwin | September 4, 2007

If you are considering choosing Panama as your retirement destination, Law Number 9 just might be the deal-sealer for you!

Most Central American countries have very appealing pensionado programs, or other programs especially aimed at retirees, but Panama’s Law #9 blows them all out of the water.

For one thing, Panama offers Law #9’s benefits to anyone over the age of 18 who has a guaranteed pension income of $500/month. Social Security? Military? Disability? Corporation? They’re all good in Panama. A pension is pretty much a pension.

And what, exactly, does the Panamanian pensionado get? Plenty!

50% or more off movies, theaters, concerts, sports.

50% or more off closing costs for home loans, etc.

50% off hotel rooms.

30% off non-airline transportation fares.

25% off airline tickets.

25% off restaurant meals.

20$ off professional (including medical!) and technical consultations and services.

10 - 15% off hospital bills, dental/eye exams, and prescription medicine.

Not bad, what say? AWESOME deals.

As a protected Panamanian Law #9 pensionado, you will also get an exemption from duties on the importation of household goods and every two years, you can buy a new car, duty-free. Your American money is good in Panama, and almost everybody speaks English.

Now, give me one good reason NOT to retire to Panama! I’m waiting.

That’s just what I thought. See you there!

Sphere It

Topics: Transportation, Prices, Recreation, Food, Laws, Pensionado, Panama, Culture, Language, Healthcare, Real Estate, Destinations, Money and Taxes, Lifestyle, Government Incentives, Travel / Relocation, Retirement Overseas |

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