This program is considered the most economical in the world
People who adhere to the visa for retirees in Panama can immediately enjoy many advantages and discounts. For example, they receive several discounts, from 10% to 50%, for some medical services, as well as for restaurants, entertainment (cinemas, concerts, stadiums), and mobility, with public transportation services.
In addition, they obtain a tax exemption for importing a new car every two years. A single tax exemption for importing household items—up to a total value of 10,000 dollars—is added to this.
Who can apply for the visa for retirees in Panama?
According to the National Immigration Service, any person in the world, regardless of minimum or maximum age, can apply for a visa for retirees in Panama. They only need to comply with the requirements.
What documents are needed to apply?
The first requirement is that the person must show that he receives a life-time pension for a minimum of 1,000 American dollars. Said pension can come from a foreign government, a private business, or an international organization.
In each case, certification, issued by the entity that pays the pension, mentioning the monthly amount and its lifetime character, is essential for approval of a visa for retirees in Panama. This certification must be apostilled.
If the applicant makes an investment by purchasing real estate with a minimum value of 100,000 dollars, the minimum monthly pension can be increased to 750 dollars.
Other documents that must be delivered are: your criminal record; a certificate of good health, issued in Panama; as well as your marriage certificate (if applicable) and the birth certificate of your children (if applicable).
If you need help with the documentation or if you don’t comply with the amount required for the pension, contact us and we’ll work together to find a solution.
How to include your family in the visas for retirees
The person who requests the visa for retirees can include the family, although only by completing particular requirements. For each dependent person that he includes, he will have to receive an additional 250 dollars each month. In the case where the pension doesn’t reach this amount, the person can then make a deposit in a bank based in Panama for the same amount.
If the person includes dependent children, he must know that that condition remains p to 25 years old. Therefore, those children will obtain temporary residence up to the age of 18, as long as they are studying. As a part of the visas for retirees program, those who aren’t studying will lose the right to remain in the country after they turn 18.
When referring to a marriage in which both receive a pension, this can be combined to reach $1,000. This means, for example, that if a man receives 600 dollars monthly and his wife receives 400, then they can both apply for the visas for retirees in Panama.
Steps to follow for requesting the visa for retirees in Panama
The support of a specialized lawyer will be key to facilitating the process of obtaining a visa for retirees in Panama. The person must register his/her passport with the National Panama Immigration Service in person. Then, he will present the application for the visas for retirees program to the same service. The records of the various payments must also be presented there.
Then, the National Immigration Service will deliver the provisional residency card and a visa for multiple exits and entries. Both will be valid for between three months and a year. Further ahead, he will receive a permanent residency card as a retiree.