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Tourist Pensioner - Retirees living in Panama as Permanent Residents

This permit may be requested by foreigners who receive a retirement pension from the foreign government, international organization or private company, who come to Panama with a view to residing here and have sufficient means to cover all their expenses, as well as those of their dependents. 

The monthly income or pension can be no less than One Thousand Dollars (US$1,000.00) 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). 

Requirements:

In addition to the general requirements referred to in Article 28 of the Law, without the number 4, the applicant shall submit the following documents: 

1. Pension Letter Certification letter of being retired or pensioned by a foreign government, international organization or private company, confirming that they receive a pension of no less than One Thousand Dollars (US$1,000.00) per month or its equivalent in foreign currency and that this is for life. 

2. In the case of dependents, you must receive Two Hundred and Fifty Dollars (US$250.00) more in your pension. 

3. Certification from the Public Registry for the property (if applicable). 

4. If the pension or retirement is from a private company, provide the following documentation: 

   1. 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; 

   2. Certificate of Good Standing which proves the existence of the company that is granting the pension and responsible for the administration of the funds; 

   3. Copy of the payment chit or bank statement. 

Note:  All documents issued overseas (that were not issued in Panama) must be duly authenticated by the Panamanian Consulate or Embassy in the country where issue and by the Ministry of Foreign Affairs in Panama or duly Apostilled.

In the case of spouses, they may opt to prove the income required in point 1 with both pensions, in which case both parties must provide all documentation requested as proof of pension. 

In the case of dependent children, they shall receive temporary permits until reaching twenty five (25) years of age, so long as they prove that they are studying.  However, they shall not have the right to permanent residence or be considered Pensioners. In the case of dependent children with a permanent serious disability, duly evidenced, an exception shall be made. 

Fees & Costs of the Pensionado Visa (see link).

Benefits of the Pensionado Visa: 

Panamanian law also grants retirees a very good tax exemption package including:

For more information regarding Immigration Services, please contact Beth Gray.  You may send an email to immigration@lawyers-abogados.net

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Last modified 08-Jul-2009 10:04 -0400

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