Panama is a popular destination for retirees from around the world thanks to its warm climate, low cost of living, and favorable immigration policies. The country offers a specific residency program known as the “Visa de Pensionado” or “Visa de Jubilado Pensionado,” designed to attract foreign retirees and pensioners. The process for obtaining this visa is described below:
Main Requirements
1. Age and Retirement Status: There is no specific age requirement, but the applicant must be a retiree or pensioner who receives a monthly pension or retirement.
2. Income: The applicant must prove that he or she receives a monthly pension of at least $1,000 USD. If the applicant wishes to include dependents (spouse or children under 18 years of age or up to 25 years of age if they are university students), he or she must prove an additional income of $250 USD for each dependent.
3. Documentation:
• Pension Certification Letter: An official letter from the entity that pays the pension, certifying the monthly amount received. This letter must be apostilled or authenticated by a Panamanian consulate.
• Valid Passport: A complete copy of the passport, including all pages.
• Criminal Record Certificate: Issued by the applicant's country of residence, duly apostilled.
• Health Certificate: Issued by a doctor in Panama, confirming that the applicant is in good health.
4. Proof of Solvency: Although it is not a formal requirement, having a bank account in Panama and demonstrating financial solvency can facilitate the process.
Benefits of the Pensioner Visa
Pensioner visa holders in Panama enjoy several benefits, including:
• Service Discounts: Discounts on utilities, airfare, hotel accommodations, restaurants, and more.
• Tax Exemptions: Exemptions on taxes on imported personal property and a new car every two years.
• Access to Health Services: Access to the public and private health system in Panama.
The Pensioner Visa program in Panama offers an attractive and accessible path for retirees and pensioners looking to enjoy their retirement in a tropical and welcoming environment. With a combination of economic benefits and a high quality of life, Panama positions itself as a first-class retirement destination.
To start immigration processes in Panama, it will be necessary to hire a lawyer.
Are you interested in applying for this type of residency, or do you need more information? Contact us.
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