Panama's RETIREMENT VISA PANAMA – PENSIONADO VISA
PENSIONED RETIRED VISA Retire happy in Panama!
Low taxes, beautiful weather and beaches , excellent health care: these are just a few of the reasons people come to Panama to retire.
More people each year choose to retire abroad to find a change of scenery, new experiences and a lower cost of living.
Make retirement the best years of your life!
Anyone over 18 years of age with a lifetime pension or annuity paying a minimum of $1,000 USD per month qualifies. Another $250 must be paid per month by the annuity or pension for each dependent. The annuity or pension can be paid by a private company, military, government agencies, corporations, a bank, an insurance company, or a Trust. This Panama visa provides several discounts from movie theaters, restaurants, hotels, pharmacies, concerts, and domestic airlines along with other products or services.
What you need
To file an application, you must do so through an immigration lawyer in Panama. The retiree residence status requires that applicant demonstrates an income or pension of only US$1,000.00 per month and US$250.00 for each dependent. You can certainly travel to Panama on a tourist visa and later change your status in Panama.
Just to make sure you have all the necessary documentation; the complete requirements are as follows:
- You must apply in Panama
- You must be at least 18 years old
- Your application must be processed by a Panamanian attorney
- Registration Form. To obtain this form applicant must go in person to the Immigration Office in Panama City. (our lawyers handle that)
- Letter from a private company or public entity stating your condition of pensioner and amount received per month in original and notarized. You must have a verifiable minimum monthly income of US$1000.00 from a government program or private corporation. This could be Social Security or another government retirement fund, such as military, state retirement, police pension, etc., or retirement from a private corporation. For your spouse or minor children, your minimum income must be increased by US$250.00 per month per dependent.
- Proof of the amount received duly authenticated by apostille seal or Panamanian Consulate.
- Health certificate issued by Panamanian Doctor.
- Certificate of good conduct (Police record) issued by the authorities at the place of residence during the last five years duly authenticated by the Panamanian Consulate or by Apostille.
- If you are single, go to your local court and ask for a bachelorhood certificate. If none is available, a notary public can certify this in the presence of two witnesses. The document will have to be authenticated by the Panamanian Consulate.
- Four photographs.
- Photocopy of passport, all pages including cover, notarized and authenticated by Panamanian Consulate.
- Sworn statement about personal background. This is done in Panama through a lawyer.
- Original passport.
- You need to physically be in Panama when the visa is issued
If married and applicant wants to include his family, should also provide:
- Power of Attorney.
- Marriage certificate duly authenticated by apostille seal or Panamanian Consulate.
- Certificate of good conduct of wife and children over 18 years old during the last five years, notarized and duly authenticated.
- Birth certificate of children duly authenticated by Panamanian Consulate.
- Photocopy of passport.
- 4 photographs of each dependent.
- Health certificate issued by a Panamanian doctor.
- Sworn statement about personal background done through a lawyer.
- Responsibility Letter duly notarized and authenticated by Panamanian Consulate.
All documents issued abroad must be duly authenticated by the Panamanian Consulate or stamped with Apostilled BEFORE submitting paperwork to your attorney in Panama. Please note that our Consulate may only authenticate U.S. issued birth and marriage certificates. If your documents are from another country, you will need to contact the Panamanian Consulate in that country for the authentication
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.
Application for Permanent Resident Permit as Retiree and Pensioner
This permit may be requested by foreigners who receive retirement or pension from a foreign government, international organization or private company, who enter the national territory to settle there and have sufficient financial means to defray all their subsistence expenses and those of their dependents. in the country. The monthly income or pension may not be less than one thousand balboas (B / .1,000.00) and must be granted for life.
In the event that the applicant proves that he has acquired property in a personal capacity in the national territory for a sum greater than one hundred thousand balboas (B / .100,000.00), the pension may be for a minimum of seven hundred fifty balboas (B / .750.00).
What I need?
If the application includes dependents, the requirements for the Temporary Resident Permit for family reunification must be met.
Dependents of legal age, of any visa or permit of the different categories or subcategories, must grant power of attorney by themselves.
Any copy that needs to be presented for the different visas or permits must be duly authenticated as a true copy of its original by a notary public or competent authority.
Any letter of responsibility issued by a natural or legal person (issued on company letterhead) must include:
That he undertakes to assume the economic support or the payment of the salary, as the case may be;
That he undertakes to bear the costs of return or repatriation to his country of origin or destination, if necessary;
It must be accompanied by a receipt for public services, lease, hotel reservation or any other document that proves the foreign address during your stay in the national territory;
The signature must be authenticated by a notary public.
All documents that are issued abroad must meet the following requirements:
Be duly apostilled or authenticated by the Panamanian embassy or consulate in the country that issued them and by the Ministry of Foreign Affairs of Panama
If there is no Panamanian consulate or embassy in the country that issues it, such situation must be proven and authenticated at the embassy or consulate of a friendly country;
All documents must be in Spanish, otherwise they must be translated by an authorized public translator with reference to the resolution that authorizes him as a translator in the Republic of Panama;
If it refers to foreign currency, you must present the conversion detailing its equivalent in dollars, issued by a competent entity.
Paragraph: In the case of spouses, they may choose to prove the sum established in paragraph 1 with the pension of both, in which case they will have to comply with the aforementioned requirements for both pensions.