Panama Pensionado Visa
Panama Pensionado (Retired) Visa
Anyone over 18 years of age can qualify for the Panama Pensionado (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.
Requirements to Obtain a Panama 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 Pensionado 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 Pensionado Visa:
1. 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.
2. 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 Pensionado Visa after 18 years of age.
3. 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.
4. 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.
5. Proof from foreign government that the private company is duly registered and in good standing.
6. Police criminal background report issued by a national police or investigatory agency where the applicant resides for the past 5 years.
7. Copy of marriage certificate if married and/or birth certificates of all children under 18 years of age if applicable.
8. All documents must be original, updated, official, and authenticated. Please read the definition of these terms in the Permanent Residency Requirements section.