	Beth Anne Gray J., LL.B. (Hons.) P.O. Box 832-0816 - World Trade Centre - Panama City - Republic of Panama International Legal Services

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Panama's Second Passport Programme - Retired Investors (Personal Income programme)

For the requirements for the Pensionado Visa, please visit this page: Panama Pensioner Visa - Requirements to apply for Pensionado Status.

Article 196. This permit may be requested by foreigners that live in Panama that are retired and have a minimum monthly income of Eight Hundred and Fifty Dollars (US$850.00), which is generated exclusively from a time deposit (CD) in the National Bank of Panama or the Caja de Ahorros, which must be completely free of any encumbrance and guarantee of any nature, for a minimum term of five (5) years, in accordance with that established in Law 9 (1987) and its regulations.

The withdrawal of the term deposit at any time during the first five (5) years and the breach of any terms established in Law 9 (1987), this Law or the regulations thereof, shall result in the loss of the incentives and rights established in the Law.

In addition to the general requirements mentioned in Article 28 of this Law, the applicant shall provide the following documents:

Certification from the National Bank of Panama or Caja de Ahorros, which confirms the amount of the time deposit, the interest generated, the term of the CD and that it is not subject to any liens or encumbrances; and
Certified true copy (by the bank) of the CD.

In order to open the time deposit in the Banco Nacional de Panama, you will need the following documents also duly authenticated by a Panamanian Consulate in your place of origin or duly Apostilled:

	Three (3) bank reference letters;
	Three (3) personal reference letters;
	Three (3) commercial reference letters;
	You must prove from where the funds are;
	A copy of all your passport’s pages.

Our fees to assist you with opening the time deposit will be Five Hundred Dollars ($500.00), plus the out pocket expenses.

Please note that this passport will be only a travel document this no means you will be citizenship and we cannot certify that the others countries will accept it.

In order to renew this permit for five years more, you must bring the same documents we listed above.

For more information regarding the immigration services offered by Gray & Co., please contact Beth Gray or Joan Villanueva. You may also send an email to immigration@lawyers-abogados.net

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Last modified 10-Jul-2009 10:14 -0400

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Last modified 03-Jul-2009 17:41 -0400