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Change in Immigration Department Policy - Pensionado Visa

Effect on Government Pensions

None - anyone with a government pension is completely unaffected by these changes. 

Private (company) Pensions

We have recently been notified by the Immigration Office that Pensionado Visa applications will now be limited to those of retirement age (that is, 65 years of age or older).  Of course, if you have taken early retirement from an internationally known company (IBM, HSBC, Bank of America, Microsoft, etc.) with a well-documented pension from them, this will also be acceptable. 

But there will no longer be a blanket acceptance of private pensions from small companies, without suitable documentation which shows that you have been receiving the pension income and will continue to receive the pension income.  Until recently, the Immigration Department has allowed applicants of any age, as long as they are able to show proof of their retirement and the real existence of the company which was responsible for the pension (whether this be a government or a private pension).  

Now, if your pension is from your personal business enterprise and you have given yourself an early retirement, the Immigration Department will now be stringently enforcing the retirement age.   It will no longer be possible for young retirees (on private pensions or retirement income) to qualify for this visa, simply by providing a pension letter and certificate of good standing from their corporation overseas.

In the case of a married couple, this will mean that as long as the principal spouse (the spouse with a pension) is over 65, they will be allowed to bring a younger spouse with them.    

Alternatives for younger foreigners who wish to move to Panama include: 

1. Personal Income Visa - immigrant visa, with eventual right to apply for citizenship
2. Investor Visa - for those who are able to establish a business, with three full-time employees and an active enterprise
3. Reforestation Visa - apparently it will be returning as an alternative.  We will keep appraised of the situation and the actual requirements, once they are established. 

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Last modified 26-Sep-2007 17:37 -0400

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Last modified 26-Sep-2007 17:37 -0400