pensionado visa (pensioner / retirement visa)
The pensionado visa grants permanent residency within 6 months
What you need to acquire in your home country:
New recently issued police (FBI for US citizens) criminal background report - Have it apostilled
New recently issued pension/social security income letter - Have it apostilled (single applicant $1000 pm + $250 per dependent)
New recently issued marriage certificate (if married) - Have it apostilled
New recently issued birth certificate (if you have children coming with you as dependents) - Have it apostilled (children 18-24 years must proof they are studying and a dependent)
All these documents are valid for 6 months only
If the pension comes from a private company, please also include the following: A letter from the company certifying the management of the funds, company certificate proving existence and validity to manage funds, copy of proof of payment or bank statements
EXCEPTION: If the applicants own private property in Panama of $100 000 or more, the applicant requires a pension income of only $750 per month or $1000 for a couple.
Other requirements needed for the application process, that can be done in Panama
Passports (must be valid for more than 6 months at time of applying)
Passport photos x6 per applicant
Complete notarized copies of passports
Certificate of good health issued by Panama doctor
Proof of address in Panama (hotels/airbnb hosts must provide you with a letter stating you are residing there and include copies of their identification)
Power of attorney documents for all procedures - Issued by us
Background declaration forms - Issued by us and to be completed by each applicant
Why Pensionado visa?
The pensionado visa program offers the easiest, quickest and most affordable option to permanent residency
You qualify for various discounts including flights, hotels, restaurants, medical costs, utilities and more
You qualify for a 1-time tax exemption on the import of household goods up to $10,000
You qualify for tax exemptions on importing a new car every 2 years
You are allowed to bring dependents (spouses & children under 25) if your pension amount is enough (Minimum $1000 for the applicant + $250 per dependent)
You are allowed to own a business (unfortunately you do not qualify for a work permit to work in Panama)
You can apply for a Panama driver´s license (you will need authenticated/apostilled license from your country)
You can open bank accounts (you will need latest 6 month bank statements, proof of income, bank reference letter and identification documents)
You can apply for citizenship, if preferred, after 5 years permanent residency (this is a separate process with separate costs and requirements)
**Important to note that pensionado residents cannot acquire a work permit or work in Panama and earn money in Panama. You are not allowed to vote. Do not leave Panama for 2 or more consecutive years or your residency status could be revoked
The process:
You will have to start by acquiring the documents needed from your home country - Police records, marriage certificate, income letters etc.
Keep in mind that these documents are only valid for a maximum of 6 months so plan accordingly
These documents MUST BE APOSTILLED to be accepted for your visa application (Alternatively the documents can be authenticated by a Panama Consulate, but note this will require an additional step in Panama to verify authentication through the Ministry of Foreign Affairs which can take a couple of days and has a small additional fee)
Once you have your documents apostilled and ready, scan and email us copies at least 4 weeks before your flight (minimum 2-3 weeks) so we can review it to ensure everything is correct. We can also use these copies to start translations as all documents must be translated to Spanish by an authorized Panamanian translator
It is recommended that the applicant(s) be available in Panama City for at least 7-10 days when coming to apply for the visa
Once you are available in Panama, we will schedule a meeting with you to acquire all your original documents and there are some documents that need to be completed and signed, and we can also do your initial registration process
The initial registration and application for temporary residency can normally be done in 2-5 days (up to 10 days if there are delays)
Once your temporary cards have been issued, you are allowed to travel the rest of the country to explore or exit Panama completely
Permanent residency is generally granted after 3-4 months (up to 6 months if there are delays) at which point you will be notified by us. You will need to return to Panama City to acquire your permanent residency cards in person.
The application for the ID/cedula can be done after permanent residency has been granted and the cedula is generally issued 1 week after the application process
The cost
Single applicant - $1500 flat fee
Married couple - $2200 flat fee
Dependents - $700 each flat fee
** The costs listed above are flat rates which includes all costs, provided the applicant has provided us with all the correct documents and has met requirements and no additional services or modifications are required. Please ensure you have all correct documentation and that the police records, marriage certificate and birth certificates have all been apostilled.
The cost will generally include reviewing the client´s documents, providing advice and assistance, translations of documents, notary fees, legal fees, government fees, registration process, all needed documents including declaration forms and power of attorney documents, temporary residency, permanent residency and ID cards as well as transportation to and from immigration offices if the client is residing within the general area of Panama City (general Bella Vista area and surrounds) and assistance opening a personal bank account.
Email us copies of your documents and we will review it before your travel date - support@guerraalvarez.com
Click here to download the official government document
Please note that our flat rate costs for visas are structured according to average procedures provided that the client has supplied the normal amount and type of documents with the correct apostille authentication where required. In any event where the client has not acquired the correct apostille or has any supporting documentation outside of the normal process that requires translation, notary and/or authentication services, these costs may be invoiced separately as additional procedures need to be carried out that falls outside of the standard process. We ask all clients to please confirm documents and procedures with us.
