Retirement Visas in Panama

More and more, Panama is becoming a location of interest for those seeking their retirement destination. Message boards are becoming full of information regarding Retirement Visas in Panama. While there is a respectable list of requirements for the Panamanian retirement (or Pensionado) visas, the following list should serve as a great start for making your arrangements to retire in Panama. These items are:

1. Price – There seems to be varied information on the cost of obtaining any Visa in Panama, and this holds true for a retirement visa in Panama. The suggested cost as posted by the Panama Supreme Court is $1,500.00. We can offer these services for less than $1000. (Panama has two official currencies, the Balboa and the American Dollar.) While the Dollar is the official paper money, you will often find prices listed in Balboas; the exchange rate for both is the same.) While this is the suggested price, experience says prices can be much lower. The key is to ensure that you have a qualified attorney. Saving a few Balboas (or Dollars) now cannot replace the frustration of problems down the road.

2. Passport – Not only do you need one, but it can’t expire sooner than 6 months from your date of application. If it has less, make sure to have it renewed to avoid delays once you have submitted your application for a Retirement Visa.

3. Police Letter – For dpendants only. This used to be a requirement for everyone, but now is limited only to depndants. You will need a record from your local law enforcement of any criminal record within the past five years. This document needs to be notarized and subsequently “authenticated” by the Panamanian Consulate. The cost of authentication is approximately $30.00 per page.

4. A signed, original letter/form from the Social Security Administration (or the pension administrator in a corporation where you are receiving a pension) stating that you are entitled to receive at least $500.00 per month and at least $100.00 per month for a spouse and each dependant child. This letter/form must be authenticated the same as in Item 3. If this is for a non-government pension, it is also necessary to have a check stub or account statement that shows the pension being deposited, as well as a good standing certificate from the company issuing the pension. (Again, this must be authenticated.)

5. Marriage license – If married, this will be required, as well as the birth certificates of any dependant children. Once again, these must be authenticated or you will not be able to obtain your Panamanian retirement Visa.

6. Once in Panama, you will present all of your documents to your attorney and he, or she, will process the application for your relocation to Panama. In Panama, it will be required to have a health exam, an HIV test and passport photos. If all goes smoothly, you will receive your retirement visa in about a month.

7. At this time, it is wise to apply for a multiple entry visa. This will cost an additional $100.00 plus attorney fees. With this visa, you will be allowed unlimited entry to, and exit from, Panama for a period of two years.

It is important that these documents be issued no later than three months after the time of filing the application with the Immigration department. This is important so as to avoid delays and problems processing the information for your visa. While there are a number of steps necessary to obtain a retirement, or pensionado, Visa, Panama and all of its benefits for retirees make the effort worthwhile. So start brushing up on your Spanish, because you’re coming to Panama!

Our prices for a Pensionado Visa application - just $800 for an individual. Contact us for more information.