Panama Pensionado (Retirement) Visa

Panama is consistently ranked one of the best places to retire.

Panama offers a special retirement visa program called the Pensionado Visa, designed specifically for retirees. It requires proof of a monthly income of at least $1,000. Other requirements include a clean criminal record and a medical examination. It’s important to note that the retirement visa does not allow you to work in Panama, but you can still start a business or invest in the country.

Order your Panama residency visa here.

 

Panama Retirement Visa Benefits

Here is a summary of the benefits of the Panama retirement visa:

  • The right to live in Panama!
  • One time Duty tax exemption for household goods up to a total of $10,000.
  • Duty exemption for importing a new car every two years.
  • 50% off entertainment anywhere in the country (movies, concerts, sports)
  • 30% off bus, boat, and train fares
  • 25% off airline tickets
  • 50% off hotel stays from Monday through Thursday
  • 30% off hotel stays from Friday through Sunday
  • 25% off at restaurants
  • 15% off at fast-food restaurants
  • 15% off hospital bills (if no insurance applies)
  • 10% off prescription medicines
  • 20% off medical consultations
  • 15% off dental and eye exams
  • 20% off professional and technical services
  • 50% reduction in closing costs for home loans
  • 25% discounts on utility bills
  • 15% off loans made in your name
  • 1% less on home mortgages for homes used for personal residence

The discounts can be pretty crazy!

 

Requirements

If you receive a Social Security Pension these are the requirements:

The documents that you will need are as follows:

  • Official Social Security Benefits letter updated where it details your benefits.  We will need to send you an Affidavit stating you receive the Pension for life since the Social Security letters do not include the words for life. We will prepare this and send to you so you can certify with the rest of the documents. The amount needed to qualify is US$1,000.00+ US$250.00 per dependent.
  • Criminal Background Check. (FEDERAL)
  • If you have dependents required documentation may be needed.
  • All documents must be apostilled so they can legally be used in Panama.  You can also use the Panama consulate in your country to get them certified.

 

What is Included?

  • Government fees
  • Lawyer Fees

 

Timing

Once you have the documents duly apostilled or certified you can come to Panama to process your residency.  Will need to be in Panama for 10 business days to complete the application process.

 

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