Have you ever dreamed of spending your retirement in a tropical paradise with strong purchasing power? Panama is one of the most advantageous destinations in the world for Italian retirees.
Thanks to the famous Ley 6 — the Law No. 6 of 1987 (and its subsequent updates) — and a territorial tax system, moving to Panama can radically transform your quality of life.
Why do retirees choose Panama?
The deciding factor for many foreign retirees is the zero taxation on private pensions: Panama applies a territorial taxation principle, meaning income generated outside Panamanian territory is not subject to tax in Panama (such as a private pension from a foreign source).
This means that, once you obtain residency and thanks to the International Double Taxation Agreement between your country and Panama, you will receive your pension gross of taxes, keeping the full amount in the country.
The “Pensionado Visa” in Panama
To access the benefits of Ley 6, the main route is obtaining a retiree visa (Visa de Pensionado). Once obtained, this visa is valid for life and grants access to a series of institutional discounts that make Panama unbeatable for retirees.
Who is eligible for the benefits?
- Women: from age 55 and above
- Men: from age 60 and above
- Residents: the status applies to all legal residents in Panama, including expats
Summary table of Ley 6 discounts
Here is a detailed overview of daily savings, based on official data from ACODECO, the Consumer Protection Authority:
| Category | Discount | Extra Details |
|---|---|---|
| Restaurants | 25% | Applied to the individual total bill |
| Fast Food | 15% | Applicable at all chains |
| Cinemas & Theatres | 50% | Valid for all shows, excluding charity events |
| Hotels | 50% (Mon–Thu) / 30% (Fri–Sun) | Ideal for exploring the country during the week |
| International Flights | 25% | On tickets purchased in Panama (any destination) |
| Public Transport | 30% | Buses, trains and domestic ferries |
| Healthcare | 20% | Medical and surgical consultations |
| Medicines | 20% | Discount on drug prices |
Banking and financial benefits
Panama values the economic stability of its senior residents. Law 6 also offers lesser-known but extremely important financial perks:
- Bank fees: 50% reduction on closing costs for personal loans
- Interest rates: retirees enjoy preferential rates on mortgages and savings accounts
- Priority service: banks and public offices are required by law to provide a priority queue (fila preferencial) for retirees
Health and wellness: a high standard
The private healthcare system in Panama City is excellent, with clinics often affiliated with top US hospitals (such as Johns Hopkins).
With 20% discounts on medical visits and 15% on hospital admissions, access to high-quality care becomes very affordable compared to European private healthcare standards.
Frequently Asked Questions
Do I need to be a Panamanian citizen to get the discounts? No, it is sufficient to be a legal resident with a cédula (ID card) or retiree card.
Does the flight discount apply for returning to Europe for example? Yes, as long as the ticket is purchased in Panama and departs from the country.
How is the restaurant discount applied? Simply show your ID before closing the bill. The law is well respected and businesses are accustomed to this procedure.
Prima di un espatrio in uno dei molti Stati da noi proposti, organizziamo un appuntamento individuale.
L'appuntamento consiste nelle seguenti attività:
- analizzare le tue aspettative;
- valutare la tua situazione pre-espatrio ed eventuali criticità/ostacoli;
- stabilire la fattibilità del tuo trasferimento all'estero;
- individuare i pro e i contro della destinazione (una o più) in merito alle tematiche più varie: tassazione, affitti, costo della vita, clima, sicurezza, assistenza sanitaria, etc;
- programmare il percorso di trasferimento: tempistiche, modalità, costi.
