The Panama Pensionado Visa, also called the Panama retirement visa or Panama pensioner visa, allows retirees or persons with lifetime pensions to obtain permanent residency in Panama. Applicants must have a guaranteed lifetime pension of at least US$1,000/month (or US$750/month if purchasing real estate in Panama valued at US$100,000+). The visa offers exclusive benefits, including tax exemptions, discounts on transportation, entertainment, dining, healthcare, and more. It also provides a pathway to Panamanian citizenship after fulfilling residency requirements.
Our licensed immigration attorneys at International Relocation Firm have extensive experience assisting retirees through the Panama retirement visa process, ensuring compliance with all legal and documentation requirements.
Eligibility for the Panama Pensionado Visa
To qualify for the Panama retirement visa, applicants must:
- Be eligible for a lifetime pension or retirement income.
- Provide proof of a minimum monthly pension of US$1,000 for the applicant (or combined pension income for spouses) or US$750 if purchasing Panama real estate valued at US$100,000 or more.
- Be in good health and provide required medical documentation.
- Pass a background check from their country of residence.
Dependents
Dependents are eligible under certain conditions: children may maintain temporary residence until age 25 if full-time students, or indefinitely if they have a proven physical or mental disability. If a dependent child does not attend college full time after the age of 18, then their Panama Pensionado Visa will be cancelled for that dependent. Dependent children cannot use the parents Panama Pensionado Visa to obtain Panama permanent residency.
The law requires the applicants’ pension amount to be increased by US$250 for each dependent or alternatively this requirement can be solved by providing a Panamanian bank reference letter indicating that the applicant earns at least US$250 per month in interest income from local bank deposits.
Benefits of the Panama Pensionado Visa
The Panama pensioner visa offers numerous benefits, including exclusive discounts and tax exemptions:
- Duty exemption on household goods imports up to US$10,000.
- 100% duty exemption on a new car every 2 years.
- 50% off entertainment nationwide (movies, concerts, sports).
- 30% off bus, boat, and train fares; 25% off airline tickets.
- Hotel discounts: 50% Monday–Thursday, 30% Friday–Sunday.
- Restaurant discounts: 25% off regular, 15% off fast food.
- Healthcare: 20% off consultations, 15% off hospital bills, 10% off prescriptions, 15% off dental and eye exams.
- 20% off professional and technical services.
- 50% reduction in closing costs for home loans.
- 25% discount on utilities; 15% off personal loans; 1% reduction on home mortgages for personal residences.
Permanent Residency and Citizenship
The Panama Pensionado Visa grants permanent residency immediately upon approval. Holders receive the Panama Pensionado Resident Card, allowing them to live in Panama indefinitely and access program benefits.
While permanent residency is granted, citizenship is not automatic. To become a Panamanian citizen, applicants generally must:
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Reside legally in Panama for 5 years (some cases for pensioners over 55 allow 3 years).
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Comply with all legal and tax obligations.
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Demonstrate good conduct and financial stability.
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Have basic Spanish skills and knowledge of Panamanian history/culture.
After fulfilling these requirements, pensionado visa holders can apply for Panamanian citizenship, gaining a Panamanian passport, voting rights, and other benefits.
Cost & Legal Fees
Our firm provides full-service legal assistance to navigate the Panama Pensionado Visa process.
Primary Applicant:
- Legal Fee: USD $1,200 + 7% sales tax
- Government Fees: USD $500 (Immigration) + USD $200 (Multiple Entry-Exit Visa)
Dependents:
- Legal Fee: USD $1,000
- Government Fees: USD $500 (Immigration) + USD $200 (Multiple Entry-Exit Visa)
Application Process & Documentation
The Panama pensioner visa process requires careful preparation. Key steps include:
- Certification of pension/retirement income (from government, international agency, or private company) showing at least US$1,000/month for life.
- If private pension, provide company certification and proof of payments.
- Marriage certificate for spouse; birth certificates for children/dependents.
- Police records for the past 5 years.
- Health certificate from a licensed Panamanian physician. This must be done on your initial visit to Panama.
- Passport registration with Panama Immigration (photo, form, passport copy).
- Submission of application with required government fees and repatriation deposit if applicable.
- Provisional Processing Card and Multiple Entry-Exit Visa issued, followed by Permanent Residency Card (“Panama Pensionado Resident Card”).
- Applicants can use an Annuity issued by a bank, an insurance company, or even a private company to meet the Panama Pension Visa requirement
Applicants should note:
- All documents must be original, official, updated (within 6 months), and authenticated or apostilled.
- 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).
- Applicants must be physically present in Panama during processing.
- Shorts, t-shirts, and sandals are not allowed at government offices.
- If the pension income certification document issued by the Government or by Social Security does not specifically state that the payment is a “PENSION” and it is for “LIFE”, then the applicant must provide a signed Affidavit (Sworn Declaration) stating that the payment is in concept of a “RETIREMENT PENSION” and that it is for “LIFE”. This Affidavit (Sworn Declaration) must be authenticated by a Public Notary & Secretary of State Apostil if issued in the USA, or otherwise, authenticated through the US consulate office in Panama.
- If the Pension is from a Private Company: Client must provide a letter on company letterhead from the company that pays the applicant’s 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 must use the words “pension for life”) in the amount of at least US$1,000 per month.
- All documents that come in a language other than Spanish, must be translated in Panama through an official certified Panamanian translator.
Work With Panama Pensionado Visa Experts
Our licensed attorneys provide comprehensive guidance for obtaining your Panama Pensionado Visa, including:
- Legal advice on Panama residency requirements
- Full immigration processing ([Panama Immigration Lawyers](https://www.relofirm.com/immigration_visas/))
- Assistance with real estate, banking, and lifestyle planning for retirees
We ensure your retirement in Panama is smooth, secure, and fully compliant with Panamanian law.
Related Resources
- Learn more about moving to Panama for retirement
- Explore detailed guide on how to retire in Panama.