Panama Retiree Discounts 2027: What Law 562 Means for Foreign Residents
Reviewed by Hassim Patel Bhana, Managing Partner · Updated
Law 562 of 2 November 2026 amends Law 6 of 1987 and takes effect on 2 May 2027. From that date a foreigner qualifies with two things together: full permanent residency and age — 57 or older for women, 62 or older for men. No pension is required. Until 1 May 2027 the current rules apply.
Key points
- Law 562 of 2 November 2026, Official Gazette No. 30647, takes effect on 2 May 2027.
- Until 1 May 2027 the current rules still apply, unchanged.
- From 2 May 2027 a foreigner needs full permanent residency and the minimum age: 57 for women, 62 for men.
- No pension is required — permanent residency through any route qualifies you once you reach the age.
- A Pensionado visa on its own does not qualify you below those ages, despite its name.
- Provisional permanent residency does not count, and neither does temporary residency.
- The benefits are personal and cannot be transferred to a spouse or anyone else.
Frequently asked questions
Do I need a pension to get the discounts?
No. From 2 May 2027, foreigners need permanent residency and the minimum age; a pension is not required.
Is the Pensionado visa still worth it?
Yes, as a route to permanent residency. What changes is that, from 2 May 2027, its holders get the discounts only once they reach the age.
Does provisional residency count?
No. Only full permanent residency counts.
Can my spouse use my discounts?
No. The benefits are personal; your spouse qualifies only if they meet the requirements themselves.
When does the new law apply?
From 2 May 2027. Until then, the current rules remain in force.