The pensionado visa program in Panama is designed to offer foreign retirees a series of tax benefits, discounts and exemptions in a wide variety of products and services, so that pensioner can live comfortably in Panama.
Tabla de contenidos
Panama pensionado program Highlights
|Program Type||Panama pensionado visa|
|Time for citizenship||5 years|
|Permanent residence time.||Immediately upon approval if income requirement met|
|Minimum investment.||Proof of US$1,000 monthly income|
|Physical presence requirement.||At least one visit a year|
|Application Processing Time.||2-3 months|
|Citizenship granted to visa-free travel||141 destinations, including Schengen countries|
|Quote types available.||No contribution required|
If you’re looking to apply, you just need to show that you have a steady monthly income of at least $1,000, or $750 if you buy a property in Panama worth at least $100,000. This income should be from a pension or retirement fund, and we’ll need a bit of paperwork to confirm it.
Why Panama, you ask? Well, it’s an incredible spot for retirees. Affordable living, amazing weather, super friendly locals, and tons of things to do. we will cover everything you need to know about the Pensionado visa program, including how to qualify, program benefits, requirements for citizenship, program authority, and the legal basis for the program.
What you can and cannot do
- Obtain your Retiree Residence status and live legally in Panama as a retiree pensioner.
- Volunteer work without pay.
- Open a bank account in Panama.
- Obtain a Panamanian driver’s license.
- Import a car duty free once every two years.
- Access to health care services and drug discounts.
- Import personal property without paying taxes.
- Get discounts on various services, such as transportation, accommodation, entertainment, etc.
- Apply for a permanent residence after five years of having the retiree visa.
- Work for a Panamanian company or receive a salary in Panama.
- Vote in Panamanian elections.
- Obtain Panamanian citizenship automatically.
- Use the retiree visa to carry out commercial or business activities in Panama.
- Remain outside of Panama for more than two consecutive years without losing the retiree visa.
When to Apply and how long it takes
We’ll start by helping you gather all the necessary documents. With our expertise, this step is straightforward and hassle-free.
When it’s time to submit your application, don’t worry about the logistics. We’ll accompany you to the Panama immigration office to ensure everything goes smoothly. Plus, you’ll receive your temporary residency card during this visit.
Patience is key here. The approval process typically takes between 2-3 months, but rest assured, we’ll keep you updated every step of the way.
Once your application is approved, congratulations are in order – you’re now a permanent resident of Panama! We’ll arrange your final visit to pick up your permanent residency card.
Cost to get a pensionado visa in panama
how much does it cost to get a pensionado visa in panama depends on how it is applied. (These costs are the social security rates quoted by Panama Social Security, not including professional fees)
|For main applicant||1800$|
Panama pensionado requirements
The Retired Pensionado Visa Program in Panama is designed for retirees who are looking to relocate to the country. To qualify for the program, retirees must meet the following general requirements:
- You must present a letter or official document that certify the amount and permanent duration of your retirement.
- Retirees must provide a medical certificate demonstrating that they are in good health and free of communicable diseases.
- Retirees must provide a police clearance certificate from their home country or from any country where they have lived for more than two years in the past five years. If you are from Canada you must present 2 printed and authenticated documents at the embassy of Panama in Canada, thePolice clearance certificates andRoyal Canadian Mounted Police.
- If you are an American citizen, you must present theFBI Background Check, apostilled and authenticated at the embassy of Panama in the USA.
- You must demonstrate that you have sufficient financial means to live in Panama. This may include additional income, investments, or other sources of income.
- If you have a property in Panama, you can use it as additional proof of economic solvency.
- You must present a copy of your valid passport and other personal documents, such as birth or marriage certificates, as required.
If you retire in Panama With your Partner, you can’t miss this
If you plan to retire with your partner and/or children, you should not lose sight of these documents to present them in your application.In the cases of dependent children, their permission will be temporary until they turn twenty-five (25) years old as long as they prove that they complete their studies, however, they will not have the right to permanence or pensioner status.
To emigrate with your partner, you must present your marriage certificate duly authenticated or apostilled by the Panamanian embassy in the country where you are and pay the fee requested by the authorities.
Retirees who meet these general requirements may be eligible to apply for the Retired Pensionado Visa Program in Panama.
Pensionado visa Panama benefits
The Retired Pensionado Visa Program in Panama offers a range of benefits and incentives for retirees who choose to participate in the program. These benefits include:
a range of tax exemptions, including exemptions from income tax on foreign income
Discounts on goods and services
Discounts on goods and services, including discounts on hotel accommodations, airfare, healthcare services, and entertainment.
Permanent residency in Panama
You are eligible for permanent residency in Panama, which allows them to live and work in Panama without the need for a work permit or other special authorization.
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