Retired in Panama
Foreign retirees and pensioners who wish to live in Panama have the option of applying for the Retired and Pensioner Visa. The main requirement for this process is to have a monthly income of USD $1,000.00 for life, or the equivalent in another currency.
The mentioned income must correspond to a pension or retirement from the applicant’s country of origin, and be from a government institution or authorized official retirement entity.
Requirements for the Retired and Pensioner Visa in Panama
To apply for a retired and pensioner visa, you must submit the following documents:
Application Process for Foreign Pensioner Visa
The application process for foreign pensioners seeking a visa in Panama involves the following steps:
Benefits of being a Retiree in Panama
The retired and pensioner visa is very attractive due to the privileges it grants, including the following:
Pensioner Visa with PGS Attorneys
At PGS Attorneys, we specialize in providing legal advice and facilitating the visa application process for foreign pensioners in Panama. Our team of migration experts has extensive experience in these procedures and is known for working closely with clients to ensure the process is as smooth and efficient as possible.
We will review your documents, complete the necessary forms, and submit the application to immigration authorities, following relevant deadlines and protocols. Additionally, we provide personalized guidance at every stage of the process and promptly address any questions or concerns that may arise.
At PGS Attorneys, we understand the significance of this step in your life. Therefore, we offer a service based on quality and trust to help you legally establish yourself in Panama as a foreign pensioner.
This is only a fraction of the natural and legal clients that we have the honor of representing.
Do you have any legal questions?
Frequently Asked Questions for Retirees in Panama
Yes, the holder of a retired and pensioner visa in Panama can obtain a work permit in 2 ways:
- The first: by applying for it after 10 years of residence in the country (work permit without expiration date).
- The second: a new modality of MITRADEL, which allows permanent residents to obtain a work permit for 3 years, renewable for the same time.
After the admission of the migration visa application, the pensioner must remain in the country until obtaining the ID card for their process, which includes a multiple travel visa stamped on the back of the document. After this stage, the pensioner may travel outside Panama using the multiple visa, even if their process is still ongoing.
The residency permit derived from the retirement and pension visa can be extended to both the spouse and children of 25 years or younger, provided they study full-time regularly and remain unmarried. However, please note that including dependent persons will increase the proof of economic solvency, so now the monthly income should be approximately higher than four (4) medium figures.
The pensioner visa in Panama allows foreigners to reside permanently in the country. Once the visa is approved and issued, the visa holder has the right to stay in Panama without time restrictions.
It’s important to note that the pensioner visa does not grant Panamanian citizenship. However, it provides the opportunity to live and enjoy the benefits of permanent residency in the country, provided that the conditions and requirements established by immigration authorities are met.