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About the Pensioned Visa
Foreigners can obtain legal residency in Panama under the
condition that they are retired or pensioned. According to
the Immigration Department of Panama, there is no minimum
or maximum age required to qualify you only need to provide
the below described requirements / documents.
The applicants retirement income (or pension income) must
be at least a life time US$500 per month.
For each dependent, the retirement income (or pension income)
amount must be increased by US$100. For example,
a husband with wife and one child, would need to prove a total
pension income of US$700.
Beneffits of Pensioned Visa
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Tax free importation of new or used household goods for
up to USD 10,000.00;
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No income tax is paid in Panama for the pension received
nor the interest gained from the fixed term deposit;
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All benefits given to Panamanian retired persons by Law
No. 6 of 1987 (some tax benefits, discounts in restaurants,
hotels, teathers, etc.);
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Tax free importation of a car, for personal or family
use, every two years;
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No obligation to pay warranty deposits, as required for
other types of visas.
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** After filing the visa application, the whole procedure
may take two months.
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Procedures for Applying for Residency:The applicants
income must be proven by providing documentation such
as a letter from the institution or company that pays
the retirement or pension income. This certification must
be notarized and authenticated by the Panamanian Consulate
nearest you (or by apostil).
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Provide all required documents.
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We will prepare the complete package of documents required,
and have them ready to be presented at the Immigration
department.
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A short visit to Panama is required for your Passport
Registration at the Immigration Office. You will also
sign the Special Power of Attorney for our law firm to
handle your immigration paperwork and to start the processing
of the Pensioned Visa. No shorts, t-shirts, or sandals.
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Our law firm submits your application for your Pensioned
Visa.
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If you do not stay in Panama, a second short visit to
Panama is required for you to take the official picture
personally at the Immigration department were you will
then be provided with the Permanent Resident Card.
Passport Registration:
A short visit to Panama is required to register and stamp
Passport at the Immigration Office. NOTE: No shorts, t-shirts
or sandals are permitted in government offices. The requirements
are:
1. Two (2) passport sized photographs of the applicant (and
dependents - if applicable).
2. Complete immigration registration Form (POLS will provide
this to Client, who only needs to complete and sign).
3. Original passport, and one (1) photocopy of passport (the
original passport will be returned to the Client immediately
after the registration of it).
Required Documents (for Immigration processing):
Documents that Client must provide (for applicant
and dependents - if applicable):
Photocopy of complete valid passport of the applicant (and
dependents - if applicable), including the picture page (that
shows the picture, name, date of birth, passport number, place
of issue, etc.), and all other pages (all pages of the passport).
This should be provided after the Passport Registration is
registered at the Immigration Office in Panama. Please note
that the passport must be valid for at least 6 months from
the date of the immigration application.
Six (6) passport sized photographs of the applicant (and
dependents - if applicable).
Certificate of Good Health, issued by a licensed Panamanian
hospital or clinic, signed by a registered, licensed physician,
indicating that the applicant (and dependents - if applicable)
has no contagious diseases and is in good mental and physical
condition.
Documents that Client must provide (for applicant):
Documentation of proof of Pension from either of
the following:
a. If Pension is from a Government Institution or Social
Security: Client must provide certification from the respective
Government institution that pays the applicants retirement
or pension income, certifying that the person receives a "pension"
in the amount of at least US$500 per month (plus US$100 for
each dependent that wish to add if applicable) for life. This
document must be 'original', 'official', 'updated' and 'authenticated'
(please check explanation of these terms below).
b. If Pension is from a Private Company: Client must provide
a letter on company letterhead from the company that pays
the applicants retirement or pension income, signed by a representative
of the company, with complete contact information for verification
purposes, certifying that the person receives a "pension
for life" (the Pension Letter should state the word "pension
for life") in the amount of at least US$500 per month
(plus US$100 for each dependent that wish to add if applicable).
This document must 'original', 'official', 'updated' and 'authenticated'
(please check explanation below of these terms).
If the Pension Letter is from a Private company, then you
must also provide a Certification from the Government authority
that certifies that the Company that pays the pension is in
good standing and duly registered. This document must be 'original',
'official', 'updated' and 'authenticated' (please check explanation
below of these terms).
Copies of proof of pension payments (copies of pension payment
checks, bank statements showing deposits, etc.) from Institution/Company
to applicant. This document must be 'authenticated' (please
check explanation below of these terms).
Police record from the country of last 5 years of residence.
This document must be 'original', 'official', 'updated' and
'authenticated' (please check explanation below of these terms).
Marriage Certificate (for the spouse - if applicable), and/or
Birth Certificate (for children under 18 years of age - if
applicable). This document must be 'original', 'official',
'updated' and 'authenticated' (please check explanation below
of these terms).
NOTES:
- Clients should send in advanced all the required documents
that they must provide by courier before his/her first visit,
or they can bring them during his/her first visit.
- Clients should download, fill out and complete the Filiation
Form and the Personal Background Info Application, - Click
Here for Download the Application Form - .
Please send this two application forms by courier before your
first visit, or please bring it in your first visit.
Documents that our law firm will provide to you:
Special Power of Attorney, signed by the applicant (and dependents
- if applicable), authorizing our law firm to process the
immigration applications and documentation.
Letter of Responsibility, signed by the applicant, whereby
the applicant takes responsibility for his/her dependents
(if applicable).
Immigration Declaration Forms, to be completed and signed
by the applicant (and dependents - if applicable).
* Note: for authenticating documents through the Panamanian
Consulate, please contact us to request the contact information
of the Panamanian Consulate nearest you.
- All documents that come in a language different than Spanish,
have to be translated in Panama through an official certified
translator in Panama.
- All Passports validity should not be less than six (6)
months.
Notes:
- Permanent Residency obtained through Pensioned Visa Program
provides holder of Permanent Residency Card for certain discounts
and exonerations of certain taxes.
- Pensioned Visa holders do not qualify for Naturalization
(Citizenship). If Client wishes to obtain Naturalization (Citizenship
/ passport), which can be obtained after five (5) years of
being a Permanent Resident, Client would have to apply through
a different type of Visa, such as Self Economic Solvency Visa,
Reforestation Investor Visa, etc..
- Please do not wear short pants, short sleeves, t-shirts,
or sandals in your visits.
Fees For Primary Applicant:
Legal Fee - Permanent Resident Card: US$1,200.
Government Fees and Costs: US$200.
Fees For Dependents:
Legal Fee - Permanent Resident Card: US$800.
Government Fees and Costs: US$200.
Glossary:
- Authenticated: Notarized and Authenticated by the Panamanian
Consulate nearest you (or Authenticate by Apostil).
- Original: Original issued documents, not copies.
- Official: Issued directly by the respective Institution/Company,
not internet printing nor other external source.
This is a resume of the changes in the new Visas
in Panama:
– It is 90 days with a possibility for a 90-day renewal
for good cause, not an automatic renewal.
- for Investors are only possible after having completed
three consecutive 2-year temporary visas.
– The temporary is now $60,000 minimum with a 10-hectare
requirement. This is up from $40,000. The permanent reforestation
visa is now $80,000 with a requirement of 20 hectares.
Small Business Investor Visa
– There is no longer a small business investor visa.
- Now requires an investment of $160,000 up from $100,000
and requires 5 full time Panamanian workers at the minimum
wage.
– is now up to $300,000 put in an
approved Panama bank account for 3 years.
– now requires $300,000 equity in
form of cash down payment. You can mix mortgage and cash in
bank for up to $30,000. Now possible to hold
real estate under a Panama Foundation if primary applicant
is the beneficiary of the foundation or if the founder.
Rentista Visa
– now requires a deposit in the national bank of Panama
for five years that yields $2000 a month,
up from $750. Figure today at least $600,000.
NO PASSPORT is included any more.
– is now raised to $1000 per month up from $500. There
is a provision to mix property up to $100,000 in personally
held Panama real estate. Equity only from cash placement.
Not clear on ratios. Dependents are an extra $250 each, up
from $100. People who are financially secure, independent
or doing their own pension do not belong under this program.
The programs involving investing $300,000
in the bank for 3 years or same amount in real estate are
for you. The other one is the Rentista, which requires about
$600,000 in bank generating $2000
a month for five years.
Multi entry Visas
– now issued for up to five years, previously two.
Panama Legal Consultants
- Panama Law Firm -
For more information please contact us:
info@panamalegalconsultants.com
Tel: (507) 6714-9326
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