Pensionado or Retiree Residence

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Also regulated by Law N° 9 of June 24, 1987, the retiree or “pensionado” residence status requires that applicant demonstrates an income on pension of only US$500.00 per month and $100.00 for each dependent.

Once the visa petition is filed before the Immigration and Naturalization Directorate, a provisional residence permit, valid for a one-year period will be granted to the applicants. At the end of the one-year period, a petition for permanent residence must be filed. The permanent residence permit, once approved, grant the applicant a Panamanian Identification Card and the right to apply for Panamanian Nationality after 5 years

This type of residence is expedite ant the status is granted for life.

Requirements to Obtain the Retiree Status

• Power of attorney
• Good health medical certificate, HIV Test
• Good standing report from police or municipal authorities
• Complete copy of passport
• Letter certifying applicant condition as a retiree and amount earned per month. If it is a private entity, proof of its existence must be supplied.
• Photographs, carnet size
• Marriage certificate

Note: Except for the retiree certification, the same documents must be supplied by the spouse. All documents must be apostilled or certified before a Panama consulate at the place of issuance.

Panamanian law also grants retirees a very good tax exemption package including:

• Tax exemption to import a car every 2 years
• Import tax exemption for households up to US$10,000
• Multiple tax exemptions and discounts on services in Panama

Visa & Residence Options

Visa Program   Basic Requirement   Benefits   Self Economic Solvency   One of these options - • $200K CD for 2 years; or • Buy $200K property; or • Any combination which amount to $200,000 Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 5 years   Pensioned (Pensionado)   Pension of $500/ month Permanent Residency & duty free auto/ household   Small Business Investor   $100K in Company & hire 3 Panamanian employees Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 5 years   Agricultural Investor   Agricultural Business Permanent Residency, plus Right to opt for Panamanian Nationality & Passport after 5 years   Second Passport   5 year CD with BNP producing $750/ monthly interest Passport for travel, renewable every 5 years

The BusinessPanama Group offers you a Complete Expat Retirement Solution by providing you with the following services:

• All Legal and other services for representing you before Panamanian immigration and other authorities and preparing and filing all documents
• Incorporation of the company
• Legal advise regarding property purchase and contracts
• Relocation to Panama, including purchase or lease of real estate
• All necessary contacts and arrangements to identify business opportunities in Panama related to the investment in which you may be interested.

For more information, please click here to contact us.

DISCLAIMER