PANAMA pensionado visa
Are you looking for a new adventure?
Imagine waking up to beautiful beaches, vibrant culture, and warm weather “all year round.” You are looking for PANAMA! Panama is known for its stunning landscapes, friendly people, and affordable cost of living. You could finally have a dream retirement plan abroad. Take advantage of this incredible “Lifetime Residency” opportunity with multiple benefits and “discounts,” and make Panama your new home abroad!
The Panamanian immigration law allows you to apply as a retiree or pensioner if you have this status from a public entity in your country. This entity can be a "Social Security Fund" or a "Public Retirement Fund"; as well as public "administrative entities," such as: "Public Universities, Ministries, State Companies or similar," as long as you receive such pension or retirement "for life," monthly.
Under the Panama Pensionado Visa, the retiree must demonstrate through a letter that he/she receives approximately $ 1000 per month in a pension. This note must come on the letterhead of the public entity that retires the expatriate. Also, this retirement letter must be translated into Spanish (this is something that we do in our offices through a public translator). In addition, the letter must be duly legalized or apostilled for international use. Finally, suppose the monthly retirement amount is expressed in a different currency (different than the US DOLLAR). In that case, the change or currency conversion must be made at least one week before in Panama.
The Panama Pensionado Visa allows to apply with his WIFE, PARENTS, and children . The residency for the children will be issued until they reach the age of 25 if they have university studies in Panama. Adult dependents will not have the right to have the lifetime status of the principal applicant retiree in the migration department. On the other hand, the law establishes that the applicant retiree, additionally, must support an income of 250 dollars per month for each dependent that applies in the same file. The initial proof of income for dependents can be supported by a reference letter issued by a bank in Panama.
LIVING IN PANAMA AS A RETIREE...
In addition to receiving a special and privileged treatment at various local services, in Panama you will receive special "discounts" by law with the Panama Pensionado Visa:
- 50% In entertainment (Movies, Concerts, Sports Events, etc.)
- 30% In transport (Buses, Ships and Trains) and 25% In flight tickets.
- 50% In hotels and 30% Friday to Sunday.
- 25% In restaurants and 15% in fast food.
- 15% In hospitals, 10% in prescription and 20% in medical consultations. 15% In dental and eye exams.
- 50% In loans for housing
- 25% In Public Services
- and many more..!
Please plan to visit Panama at least two weeks in advance. The reason is that you must request the change of currency of your pension in your retirement letter. In addition, certain immigration forms must be prepared in our office before applying. You must register at the Immigration Department before the residency application as a retiree, which takes at least one day.
Our team must also perform specific steps (notaries, stamped, authentications, doctors, etc.) before you can apply. Finally, once applied, the retiree must leave his passport deposited in migration for at least two days to obtain the stamp of "multiple exits" of the country; so, avoid future fines.