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Permanent residency visa as retired

Cajigas & CO Law Firm > Blogs  > Permanent residency visa as retired

Permanent residency visa as retired

Permanent residency visa as retired


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.


Permanent Residency as retired may be requested by foreigners who come to Panama with a view to stay here (may enter and exit from time to time) and who have sufficient means to cover all their expenses, as well as those of their dependents.   The retirement payment could be paid from a foreign government, international organization or 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:  All documents issued overseas (that were not issued in Panama) must be duly authenticated by Apostille.

Benefits of this 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.

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