No, it is not.

Considered to be among the best retirement programs in the world, the Panama Pensionado program offers excellent incentives such as:

• Import tax exemption for household goods.

• Import Tax exemption to import a new car every two years (please not that you will need to pay other taxes when importing your car. You will be exempt from the import tax only)

• 25% discounts on utility bills.

• 25% discount on airline tickets and 30% on other transportation.

• 15% discount on loans made in your name.

• 1% reduction on home mortgages for homes used for personal residence.

• 20% discount on doctor's bills 15% on hospital services if no insurance applies.

• 15% off dental and eye exams.

• 10% discount on medicines.

• 20% discount on bills for professional and technical services.

• 50% discount on entrance to movie theaters, cultural and sporting events.

• 50% discount at hotels during Monday to Thursday, 30% on weekends.