Panama Retiree Residency Visa

Panama Retirement Visa – Complete guide to obtaining a Panama retirement visa, the required documents, and the best places for retirees.

Panama has become a popular retirement home in recent years due to low government tax and price discounts for foreign guests and retirees. You can choose to enjoy your retirement by the beach, in rural areas, or in one of the beautiful cities of Panama.

Panama offers foreign retirees one of the best retirement programs in the world. The Panama Pensionado program comes with great benefits for retirees. Foreigners who decide to join the retirement program in Panama need to apply for a retirement visa first.

Who Is Eligible for the Panama Pensioner Program?

To be eligible for a retirement visa in Panama, you must have a verifiable minimum monthly income of $1,000. This could be Social Security or other government retirement funds (military, state retirement, police pension, etc.) or retirement from a private corporation.

Benefits of Pensioner Retirement Visa in Panama

Being amongst the best retirement programs worldwide, the Panama Pensionado Program offers you excellent benefits such as:

• You can live and enjoy your retirement in one of the safest countries in Central America.
• You will get an exemption from import tax for household goods.
• You will have an exemption from import taxes to import a new car every two years.
• You can get discounts on things like utility bills, airline tickets, medical fees, and entry fees for movie theaters and cultural and sporting events, etc., as follows:
  • 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 personal residence.
  • 20% discount on doctor’s bills and 15% on hospital services if no insurance applies.
  • 15% off dental and eye exams.
  • 20% discount on medicines.
  • 20% discount on bills for professional and technical services.
  • 50% discount on entrance to movie theaters and cultural and sporting events.
  • 50% discount at hotels from Monday to Thursday, 30% on weekends.

How To Apply for a Panama Retirement Visa?

If you meet the eligibility criteria, you should hire a law firm to apply for a Panama retirement visa at the Immigration Office in Panama City. We will take care of everything else.

Applying for a Panama Retirement Visa

1. Travel to Panama. 
2. Provide all the required documentation during the meeting in our office.
3. Coordinate with us your initial visit to the immigration office for temporary card issuance.
4. Upon the approval of the residency, you must return to Panama for process finalization.

Document Checklist for a Panama Retirement Visa

To complete your Panama retirement visa application, make sure you have all the following documents:

• Original valid passport. Also include copies of your passport pages (including cover), notarized, and authenticated by the Panamanian Consulate.
• 5 photographs. The pictures must be 2-inch by 2-inch and taken on a light background.
• Health certificate issued by a Panamanian Doctor. We can help with this
• Police records. You need police records issued by the authorities of your country of residencefor the last 2 years authenticated by the Panamanian Consulate or by Apostille.
• Proof of your pension or income. You must provide a letter issued by a private company or public entity that states your condition as a pensioner and the monthly amount you receive. The letter must be original and notarized.

How Can I Bring My Family with Me?

The Panama Pensionado retirement program allows you to bring your family with you. However, to bring your spouse or minor children, you must increase your minimum monthly income by $250 per family member.

You should also provide the following documents:

• Marriage certificate authenticated by apostille stamp or at Panamanian consulate.
• Police record of all legal age members
• Children’s birth certificate authenticated by the Panamanian consulate.
• 5 photographs of each family member.
• Health certificate issued by a Panamanian doctor. We can help with this
• Letter of responsibility. We will help with this.

Note: Documents issued abroad must be authenticated by the consulate of Panama or Apostille stamp before submission to your lawyer in Panama.

Can I Become a Permanent Resident with a Panama Retirement Visa?

Yes, you can become a permanent resident in Panama with a Pensionado visa. Holders of the retirement visa are allowed to stay and retire in Panama for as long as they want to.

Once you obtain a retirement visa, you will be granted permanent residency and enjoy your retirement in Panama.

Citizens from Asia, Middle East and Africa, kindly note that Panama’s Immigration Office may have your country on a List of Restricted Countries subject to Special Requirements. For more information, please click here.

The BusinessPanama Group provides a convenient One Stop Shop offering you the following services:

• • Real estate brokerage to find a home or apartment
  • Incorporation of companies, LLCs, trusts and foundations
  • Banking & trading accounts
  • Multi-family office services
  • Wealth management services
  • Applying for visas, work and residence permits for expats
  • Relocation services
  • Others

For more information, please contact us.