Panama Retirement Visa
Are you thinking about retiring abroad? Panama is one of the top destinations in the world for retirees thanks to its warm climate, affordable lifestyle, and the famous Pensionado Visa program. This special residency permit, also known as the Panama Retirement Visa, offers incredible benefits such as tax exemptions, discounts on services, and the right to live permanently in the country.
If you’re planning to apply, it’s important to know the exact requirements for the Panama Pensionado Visa. Below, we’ve put together a detailed guide covering the general documents, special qualifications, and additional paperwork needed to obtain residency, as well as the unique advantages that come with this program.
General Requirements for the Panama Retirement Visa:
1. Passport copy, duly authenticated by a Panamanian Public notary;
2. Original passport, which must be valid for at least six (6) months.
3. Police Report issued by authorities where the applicant resided the last two years, duly legalized by Apostille. U.S. Citizens or residents must file F.B.I. Record legalized by Apostille.
4. Marriage Certificate, legalized by Apostille if the spouse is included.
5. Sworn Affidavit (form to be provided by us).
6. Power of Attorney.
7. Six (6) passport-size photos
8. Medical Certificate of Good Health issued by a Panamanian doctor.
Special Requirements for Retirees Applying for the Panama Retirement Visa:
Foreigners who wish to retire in Panama may apply for permanent residency if they plan to stay in the country (with the option to enter and exit periodically) and can cover all their own expenses, as well as those of their dependents. Retirement income may come from a foreign government, an international organization, or a private company.
The monthly income cannot be less than One Thousand Dollars (US$1,000.00) including the spouse, plus US$250.00 per each other dependent, per month and must be “for life”. Where the applicant can prove that they have purchased a property in their personal name in Panama for at least One Hundred Thousand Dollars (US$100,000.00), then the pension may be for Seven Hundred and Fifty Dollars (US$750.00).
In addition to the general requirements the applicant shall submit the following documents:
1. Letter Certification confirming that a sum not less than One Thousand Dollars (US$1,000.00) per month or its equivalent in foreign currency is being paid for life.
2. Certification issued by the Panama Public Registry in case a property was bought.
3. If the pension or retirement is from a private company, provide the following documentation:
a. Letter from the foreign company that administers the pension funds, the trust, the mutual funds, the insurance or the bank, which certify the existence of the funds that guarantee the lifetime pension of the applicant;
b. Certificate of Good Standing which proves the existence of the company that is granting the pension and responsible for the administration of the funds;
c. Copy of the payment voucher or bank statement.
Note: You must authenticate all documents issued outside of Panama with an Apostille.
Benefits of the Panama Retirement Visa:
• Tax exemption to import a car every 2 years.
• Import tax exemption for households up to US$10,000.00.
• Tax freeze on real estate taxes up to US$120,000.00.
• Multiple tax exemptions and discounts on services in Panama.
The Panama Pensionado Visa is not only one of the most attractive retirement programs in the world, but also a gateway to enjoying life in a country known for its natural beauty, stability, and welcoming community. By meeting the requirements and securing this residency, retirees gain access to significant financial benefits, long-term security, and the peace of mind of having a permanent home abroad.
If you’re considering making Panama your retirement destination, now is the perfect time to take the first step. Our team is ready to guide you through every stage of the process, ensuring a smooth and stress-free application.
📩 Contact us today to learn more and start your journey toward retiring in paradise with the Panama Pensionado Visa.