The advantages contain one-time exemption of obligations for the importation of home goods (up to $10,000) and an exemption every couple of years of duties for the importation of a car. There is also a basket of different advantages and reductions open to these holding that Visa. Nevertheless, please remember that under that charge you cannot qualify to obtain Panamanian citizenship or passport, however, you do get yourself a Cedulla (national identification card). This may greatly facilitate the opening of bank reports, financing of real-estate, cars, etc. Legal Information on the Pensionado Program follow: SSN cards
The following are the huge benefits and liberties for all those labeled as Jubilados & Pensionados (irregardless of age) and for all other residents of Panama be they Panamañian or international nationals residing in Panama within their third and 4th Ages. It units age at 55 for women and 60 for men.
Law No. 6 of 16 of August 1987, modified by future changes in what the law states by Law 18 of 1989, Legislation 15 of 1992, Law 37 of 2001 and Law 14 of 2003. (As a subject of practicality many establishments can offer the Pensionado discounts to anyone who has the Pensionado identification aside from their age. Some individuals are outdated at an earlier age.)