Panama Offshore Legal Services

Retired or Pensioned Program (Visa Pensionado)

- Benefits and Discounts having a Pension Visa (link)

- Notification from the Government of Panama (link)

This program allows foreigners to obtain legal residency in Panama under the condition that they are retired or pensioned. According to the Immigration Department of Panama, there is no minimum or maximum age required to qualify (you only need to provide the below described requirements / documents).

The applicants' retirement income (or pension income) must be at least a LIFE TIME US$500 per month. For each dependent, the retirement income (or pension income) amount must be increased by US$100. For example, a husband with wife and one child, would need to prove a total pension income of US$700.

The applicants' income must be proven by providing documentation such as a letter from the institution or company that pays the retirement or pension income. This certification must be notarized and authenticated by the Panamanian Consulate nearest you (or by apostil).

Procedures for Applying for Residency:

1. Provide all required documents.

2. We will prepare the complete package of documents required, and have them ready to be presented at the Immigration department.

3. A short visit to Panama is required for your Passport Registration at the Immigration Office. You will also sign the Special Power of Attorney for our law firm to handle your immigration paperwork and to start the processing of the Pensioned Visa. No shorts, t-shirts, or sandals.

4. Our law firm submits your application for your Pensioned Visa.

5. If you do not stay in Panama, a second short visit to Panama is required for you to take the official picture personally at the Immigration department were you will then be provided with the Permanent Resident Card.

Passport Registration:
A short visit to Panama is required to register and stamp Passport at the Immigration Office. NOTE: No shorts, t-shirts or sandals are permitted in government offices. The requirements are:

1. Two (2) passport sized photographs of the applicant (and dependents - if applicable).

2. Complete immigration registration Form (POLS will provide this to Client, who only needs to complete and sign).

3. Original passport, and one (1) photocopy of passport (the original passport will be returned to the Client immediately after the registration of it).

Required Documents (for Immigration processing):

Documents that Client must provide (for applicant and dependents - if applicable):

1. Photocopy of complete valid passport of the applicant (and dependents - if applicable), including the picture page (that shows the picture, name, date of birth, passport number, place of issue, etc.), and all other pages (all pages of the passport).
This should be provided after the Passport Registration is registered at the Immigration Office in Panama. Please note that the passport must be valid for at least 6 months from the date of the immigration application.

2. Six (6) passport sized photographs of the applicant (and dependents - if applicable).

3. Certificate of Good Health, issued by a licensed Panamanian hospital or clinic, signed by a registered, licensed physician, indicating that the applicant (and dependents - if applicable) has no contagious diseases and is in good mental and physical condition. THIS MUST BE DONE DURING YOUR INITIAL VISIT TO PANAMA.

Documents that Client must provide (for applicant):

4. Documentation of proof of Pension from either of the following:

a. If Pension is from a Government Institution or Social Security: Client must provide certification from the respective Government institution that pays the applicants retirement or pension income, certifying that the person receives a "pension" in the amount of at least US$500 per month (plus US$100 for each dependent that wish to add if applicable) FOR LIFE. This document must be 'original', 'official', 'updated' and 'authenticated' (please check explanation of these terms below).

b. If Pension is from a Private Company: Client must provide a letter on company letterhead from the company that pays the applicants retirement or pension income, signed by a representative of the company, with complete contact information for verification purposes, certifying that the person receives a "pension for life" (the Pension Letter should state the word "pension for life") in the amount of at least US$500 per month (plus US$100 for each dependent that wish to add if applicable). This document must 'original', 'official', 'updated' and 'authenticated' (please check explanation below of these terms).

5. If the Pension Letter is from a Private company, then you must also provide a Certification from the Government authority that certifies that the Company that pays the pension is in good standing and duly registered. This document must be 'original', 'official', 'updated' and 'authenticated' (please check explanation below of these terms).

6. Copies of proof of pension payments (copies of pension payment checks, bank statements showing deposits, etc.) from Institution/Company to applicant. This document must be 'authenticated' (please check explanation below of these terms).

7. Police record from the country of last 5 years of residence. This document must be 'original', 'official', 'updated' and 'authenticated' (please check explanation below of these terms).

8. Marriage Certificate (for the spouse - if applicable), and/or Birth Certificate (for children under 18 years of age - if applicable). This document must be 'original', 'official', 'updated' and 'authenticated' (please check explanation below of these terms).

IMPORTANT:
- Clients should send in advanced all the required documents that they must provide by courier before his/her first visit, or they can bring them during his/her first visit.
- Clients should download, fill out and complete the Filiation Form and the Personal Background Info Application, exactly as it shown in our Website (See Immigration and Visas). Please send this two application forms by courier before your first visit, or please bring it in your first visit.
Documents that our law firm will provide to you:

1. Special Power of Attorney, signed by the applicant (and dependents - if applicable), authorizing our law firm to process the immigration applications and documentation.

2. Letter of Responsibility, signed by the applicant, whereby the applicant takes responsibility for his/her dependents (if applicable).

3. Immigration Declaration Forms, to be completed and signed by the applicant (and dependents - if applicable).

* Note: for authenticating documents through the Panamanian Consulate, please contact us to request the contact information of the Panamanian Consulate nearest you.

- All documents that come in a language different than Spanish, have to be translated in Panama through an official certified translator in Panama.

- All Passports validity should not be less than six (6) months.

Meaning of terms:
- Original: Original issued documents, not copies.
- Official: Issued directly by the respective Institution/Company, not internet printing nor other external source.
- Updated: With a recent date, not more than six (6) months, since the document was issued.
- Authenticated: Notarized and Authenticated by the Panamanian Consulate nearest you (or Authenticate by Apostil).
- Permanent Residency obtained through Pensioned Visa Program provides holder of Permanent Residency Card for certain discounts and exonerations of certain taxes.
- Pensioned Visa holders do not qualify for Naturalization (Citizenship). If Client wishes to obtain Naturalization (Citizenship / passport), which can be obtained after five (5) years of being a Permanent Resident, Client would have to apply through a different type of Visa, such as Self Economic Solvency Visa, Reforestation Investor Visa, etc..
- Please do not wear short pants, short sleeves, t-shirts, or sandals in your visits.
Multiple Entry & Exit Permit: After submitting your applications for residency in Panama, a Multiple Entry-Exit permit should be applied for allowing you to enter and exit the country as an Permanent Resident instead of a Tourist. You can find more information about the Multiple Entry & Exit Permit in the following URL: www.panama-offshore-services.com (click on Immigration link)

FEES:

For Primary Applicant:
Legal Fee - Permanent Resident Card: US$1,200.
Government Fees and Costs: US$200.

For Dependents:
Legal Fee - Permanent Resident Card: US$800.
Government Fees and Costs: US$200. US$200.

Discounts: As a qualified "pensionado" (retiree) in Panama, you will be entitled to:
- 50% off entertainment anywhere in the country (movies, theatres, concerts, sporting events, etc.)
- 30% off bus, boat & 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 & eye exams
- 20% off professional & technical services
- 50% off closing costs for home loans
- 25% off residential power up to 600 kw
- 25% off residential phone service charges
- 25% off residential water bills of up to US$30

Tax Exemptions: As a qualified "pensionado" (retiree) in Panama, you will be entitled to:
- A one-time exemption of duties on the importation of household goods up to US$10,000 in total value
- 100% duty exemption on the importation or purchase of an automobile.

Multiple Entry & Exit Permit: After submitting your applications for residency in Panama, a Multiple Entry-Exit permit should be applied for allowing you to enter and exit the country as an Permanent Resident instead of a Tourist. You can find more information about the Multiple Entry & Exit Permit by CLICKING HERE .

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