Panama is one of the best retirement destinations in the world. Its Permanent Residence Permit not only offers economic advantages and an excellent tourist destination but also allows retirees to settle anywhere in Panama and enjoy their retirement. However, you might be wondering: Can I retire and continue working in Panama as a foreigner?
Among the most frequently asked topics by our clients is the issue of employment as residents in Panama. To address this, it's important to detail the following concepts:
In both concepts, the common denominator is that the person cannot engage in labor, whether due to old age or incapacity. This answers the question: Can I retire and continue working in Panama as a foreigner? Retired or pensioned individuals CANNOT work in Panama.
To provide a more specific explanation on the topic, we must mention that in Panama, foreigners cannot work unless they obtain a work permit. These work permits are linked to the residency permits and categories that exist. Currently, under Panamanian labor law, there is no work permit that can be associated with the Residency for Retirees and Pensioners.
If your intention is to apply for a Work Permit, you cannot do so under the Retired and Pensioned category. Therefore, you will need to change your immigration status and apply for Residency under a category that allows you to obtain a Work Permit. You could consider the Investor Permit, the Residency Permit for Professionals, or the Residency Permit for Friendly Nations of Panama. If you are interested in learning about the various requirements for obtaining a Residency or Work Permit, do not hesitate to contact us, and we will be happy to assist you.
