Retiring to Panama -Pensionado Visa-happy retirement Panama

Retiring to Panama -Pensionado Visa-happy retirement Panama

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 !

Here's what you need to know.

retirement panama
Panama Pensioned Retired Visa
self economic residency visa panama
Documents must be original
self economic residency visa panama
Police criminal background report

Documents Required from Home

Document Specifications ( All documents must be fresh (within 2 months of visa application) and passports must have at least 1 year to run)

All documents must be authenticated by a Notary and by the nearest Panamanian Consulate, or by a Notary and the Apostille. The Apostille (The Hague Convention of 1961) is a faster way of authenticating documents and is normally obtained through the Secretary of State Department in your home state (in the USA) or through the Foreign Office (in UK and Canada).

Birth and/or marriage certificates that prove the relationship between dependents and the applicant are required.

Documents Required

Copies of the passport(s) of the applicant and dependents that have been notarized by a Panamanian notary.

8 passport-size photos.

A copy of the applicant's driver's license or a government-issued photo-I. D. that has been authenticated by a Panamanian consulate or Apostilled.

A criminal history report that goes back at least two years and has been authenticated by the appropriate federal or governmental agencies in the country of which the applicant and by the Panamanian Consul in that country or by an Apostille.

Proof of legal residency if the applicant is not a citizen but is a resident of a friendly nation.

Documentation indicating the applicant is a member of the Board of Directors or is a majority shareholder in a Panama company or corporations (when the application is based upon economic ties).

Marriage Certificate with Apostille (if married)

Birth Certificate with apostille (when children coming with the parents)

Make retirement the best years of your life in Panama !

Panama Pensioned Retired Visa - More people each year choose to retire abroad to find a change of scenery, new experiences and a lower cost of living. Welcome to Panama !

Panama Pensioned Retired Visa, anyone over 18 years of age can qualify for the Panama Pensioned (Retired) Visa by proving the he or she is receiving a lifetime minimum $1,000 USD per month payment.

An exception to this minimum amount is when the applicant purchases Panama real estate valued at least $100,000 where the minimum monthly amount is reduced to $750 USD.

The pension or annuity must be proven with documentation from the government agency or company which makes the payments and the certification must be notarized and authenticated by the nearest Panama Consul or by Apostille.

Pensiones Retired Visa

1050 usd
  • Does not include attorneys' fees and miscellaneous expenses
  • All documents must be authenticated by a Notary and by the nearest Panamanian Consulate, or by a Notary and the Apostille. The Apostille (The Hague Convention of 1961) is a faster way of authenticating documents and is normally obtained through the Secretary of State Department in your home state (in the USA) or through the Foreign Office (in UK and Canada).

Panama has put together the most appealing program of special benefits for retirees you’ll find anywhere in the world today…and the program is open to foreigners.

Panamá Pensionado Retire Visa

Requirements to obtain a Panamá Pensionado Visa: 1. A letter from the foreign government agency or company administrating the pension, or a mutual fund company, or a trust company, or a bank, or an insurance company certifying the funds exist and guaranteeing the payments are for the applicant’s lifetime. 2. Proof of the existence of the private company issuing the payments. 3. Copies proving the payments are being made or a bank account statement showing the deposits. Note: Panama allows both spouses who are receiving pensions or annuities to combine them to meet the minimum $1,000 USD amount. Dependents: Panama requires and additional monthly receipt of $250 USD per month for each dependent. Dependents are defined as children up to age of 18 or up to 25 years of age if they are full time college students. Children 18 years of age or older who are not full-time college students will lose their Pensioned Visa status. They will have to find another Panama immigration visa to qualify for.

Applying for Panama Immigration Permanent Residency An explanation of the documents required by Panama immigration when applying for permanent residency can be found Here In addition to the usual required documents for application to Panama immigration to become a permanent resident, here are the documents required for the Panama Pensioned Visa:

A letter certifying the applicant’s pension or annuity payments from an international agency, private company, or a foreign government, confirming the applicant is receiving a pension or annuity of at least $1,000 USD per month for life. Both spouses can combine their pensions and/or annuities to reach this amount.

Pay an additional $250 USD per dependent as an application fee for Panama Immigration Service. Note: Dependent children will only receive temporary residency until they turn 18 or 25 if full time college students. Only those dependent children who have verifiable mental or physical disabilities will be able to remain under the Panama Pensioned Visa after 18 years of age.

If the applicant purchased Panama real estate valued at least $100,000 USD, and then submits a Certificate of Public Registry showing the applicant as titled owner.

If using a private company providing a pension or annuity must submit the following documents: (a) Letter from the bank, insurance company, trust company, mutual funds company, or foreign administrator of pensions, certifying that sufficient funds exist to guarantee the annuity or private pension for the applicant’s lifetime and this company is administering the payments; (b) Proof of existence and type of business engaged in of the company providing the annuity or pension; (c) Proof of payments made by the company or bank statement showing deposits.

Proof from foreign government that the private company is duly registered and in good standing.

Police criminal background report issued by a national police or investigatory agency where the applicant resides for the past 5 years.

Copy of marriage certificate if married and/or birth certificates of all children under 18 years of age if applicable.

All documents must be original, updated, official, and authenticated. Please read the definition of these terms in the Permanent Residency Requirements section.

Some of the benefits of retiring in Panama as a foreigner

 

Some of the benefits of retiring in Panama as a foreigner
The following DISCOUNTS:
• 50% in entertainment, for example, movies, concerts, sporting events, etc.
• 50% in hotels from Monday to Thursday
• 30% in transportation, for example, trains, buses and boats
• 30% in hotels from Friday to Sunday
• 35% on plane tickets
• 25% in restaurants
• 25% in payments of public services
• 20% in medical consultations
• 20% in technical or professional services
• 15% in fast food restaurants
• 15% on hospital bills when you do not have insurance
• 15% on ocular or dental examination
• 15% in loans in your name
• 10% on prescription medications
• Tax exemption for household items with a total of 10,000 usd (one time only)
• Every two years the tax exemption for importing a car

The Application Free Calculator is an easy way to estimate the fees payable to the Department of Immigration and the extra expenses , such has notary , legal translations, medical attest, Lawyers etc.. When making a application.

Fees associated with the application

  • If your documents (such a degrees, work documents etc.) are not in Spanish , you must provide a translation of these documents. This has to be done by an authorized translator from Panama .
  • You must include several photographs and the rules are quite specific (yes, Panamanians are weird with passport pictures!). Depending where you live, it adds up. — not cheap if you immigrate as a family!
  • You may need to have your foreign degrees recognized in Panama. This is called a credential evaluation, and it’s done by specific organization, such as World Education Services. A basic official evaluation cost about $115 and up.
  • If you are from a country where nor Spanish is the official language, you will have to prove your language abilities. This is one of the 6 selection factors for skilled workers. The language proficiency test must given by an organization that is approved by Citizenship and Immigration.
  • A medical exam is compulsory for each applicant and their dependents (spouse, children)
panama immigration

This Visa is required by Immigration to EVERY foreigner that has a file in process.
This means that if you have applied to a Residency or Visa
in Immigration and it is in process and you want to travel from Panama,
you should request the Multiple Visa

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