pensionado visa (pensioner / retirement visa)
The pensionado visa grants permanent residency.
You will need to provide the following requirements to apply for the pensionado visa
Official proof of a lifetime pension income showing no less than $1000 per month for a single applicant or $1250 for a married couple or + $250 per dependent if the applicant(s) also have children. This pension income letter must be provided by your government or authorized agency and must be apostilled.
Each applicant must have a valid passport with entry stamp into Panama - Passports must be valid for more than 6 months when applying for visa
Notarized copies of your passport (this is done by our offices)
Five passport photos for each applicant (photos can be done here in Panama)
Clear criminal record for each adult (18+ years) applicant - Your criminal record must be done on a national level for your country (Example: USA citizens must acquire an FBI record) - Must be apostilled.
Certificate of good health issued by a Panamanian doctor
Proof of address in Panama (utility bill, rental contract, hotel letter with signature from the authorized person, property title in your name etc)
**If using Airbnb, the owner must provide a letter stating you are residing at their premises, it must be signed, and they must include a copy of their ID/passport
Personal background affidavit (these documents are provided by us and completed in our offices)
Power of attorney (provided by us) - To be signed by the applicant in pen in our offices
Married couples must be an apostilled marriage certificate
Children as dependents must have an apostilled birth certificate (children under 18 can be dependents of parents, children 18+ must provide proof of studies in Panama and must complete their own visa process once they reach 25 years, children with severe disabilities can remain dependents over 25 years)
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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 owns 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.
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)
The process:
You will have to start by acquiring the documents needed from your home country - Police records, marriage certificate, income letters
Keep in mind that these documents are only valid for a maximum of 6 months so start this process roughly 2-3 months before your flight date
These documents MUST BE APOSTILLED to be accepted for your visa application
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 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 (this meeting is generally around 1 hour to 90 minutes)
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, approximately 10-15 days later
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
