Panama
Pensioned or Retiree Visa Program
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 this Visa
Tax free importation of new or used household goods for up to USD
10,000.00;
No income tax is paid in Panama for the pension received nor the
interest gained from the fixed term deposit;
All
benefits given to Panamanian retired persons by Law No. 6 of 1987
(some
tax benefits, discounts in restaurants, hotels, teathers,
etc.);
Tax free importation of a car, for personal or family use, every
two years;
No obligation to pay warranty deposits, as required for other types
of visas.
**
After filing the visa application, the whole procedure may take
two months.
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).
Provide all required documents.
We will prepare the complete package of documents required, and
have them ready to be presented at the Immigration department.
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.
Our law firm submits your application for your Pensioned Visa.
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.
Contact
us: info@panamalegalconsultants.com
-
Immediate Passport Program:
offering Immediate Panamanian Passport
- Self
Economic Solvency Visa: offering Permanent Residency
& Passport
- Small Business
Investor Program: offering Permanent Residency &
Passport
- Reforestation
Visa: offering Permanent Residency & Passport
- Retired or Pensioned
Program: offering Permanent Residency only
- Multiple Entry
& Exit Visa (Optional)
Contact us: info@panamalegalconsultants.com
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