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Panama New Immigration Law Update: 02/27/08Second Passport Scams and FraudCanada Document CertificationPanama Resident Multiple Entry Visas – Update 06/08Panama Pensionado Program is a fairly unique method of getting a lifetime visa for retired persons. Not only is this a lifetime visa for yourself and dependants but it comes with numerous discounts and benefits.
Panama Pensionado Minimum Age Requirement – There is no minimum age requirement as their would be for a Jubilado. A Jubilado can best be though of as a Panamanian who worked here their whole life and reached retirement age. A Pensionado is a foreigner on a pension for life retiring or residing in Panama.
Panama Pensionado Relevant Law Citations - Law No. 6 of 16 of June 1987, modified by subsequent changes in the law by Law 18 of 1989, Law 15 of 1992, Law 37 of 2001 and Law 14 of 2003.
Panama Pensionado Requirements – One must be receiving a pension for life of at least $500 per month. This goes up by $100 per month for each dependent brought in under the program. The pension should be from a reputable source like a publicly traded major corporation pension fund or from a government agency. Usually a letter from the pension granting fund is required and a few bank statements showing the deposit can be helpful. If one is receiving these retirement benefits early in life say as the result of military disability this is fine. Pensions from non-public, small corporations will be difficult to prove and this is not going to be successful.
Panama Pensionado Documents Required – In addition to documentation of the pension the following is required:
The above three documents need to be certified by the nearest Panama Consulate or Embassy. We can explain this more fully to you.
You will need a passport valid for at least six months as well. The health certificate is done in Panama. All applications must be in person. Plan on being in Panama for at least four days to apply. In approximately 60 days you will need to return to pick up the Pensionado. Plan on another four days. You can stay in Panama during the application process or leave and return.
General Pensionado Requirements
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