5 Tax Free Retirement Countries for US Citizens

3. Panama

Insider Monkey Score: 18

Panama is one of the most tax-friendly nations in the world. Neither social security, 401(k) or any other income is taxed in the country. The country is also favorable to retire to, as there is no hassle of claiming foreign tax credits. The Pensionado visa, particularly, is lucrative to expats, offering major tax benefits to retirees. Some benefits that retirees enjoy under the visa are discounts on prescription drugs, discount on total bills for services in hospitals and clinics, discount on physician and surgeon fees, and much more.