Everything You Need to Know About the Pensionado Visa in Panama

Panama is considered one of the most attractive countries for retirees worldwide. With the Pensionado Visa, the government has created a program that not only offers foreign retirees an uncomplicated residence permit but also numerous financial benefits. This article provides you with a structured overview of how the program works, the requirements you must meet, and the steps necessary to apply in Panama.

What is the Pensionado Visa?

The Pensionado Visa allows foreign retirees to live permanently in Panama. It is not just a residence permit but also opens the door to extensive benefits, such as:

  • Discounts on services: Up to 50% off on airline tickets, restaurants, hotels, cinemas, and more.
  • Tax advantages: Exemption from import taxes on personal belongings and a one-time exemption for importing a vehicle.
  • Cost of living: The cost of living in Panama is significantly lower than in many Western countries – an advantage that makes the Pensionado Visa particularly attractive.

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    Requirements for the Retirement Visa

    To qualify for the Pensionado Visa, you must meet certain criteria:

    • Minimum age: There are no specific age limits – the visa is not tied to a particular retirement age.
    • Regular income: You must be able to prove a lifelong pension or annuity.The minimum requirements are:
    • $1,000 USD per month for one person.
    • An additional $250 USD per dependent person (e.g., spouse).
    • Source of income: Your pension can come from state pensions, corporate pensions, or other recognized sources.
      Additionally, all application documents must be legalized and translated into Spanish. Of course, we support you with the translations.

    Steps to Apply for the Pensionado Visa

    Preparation of Documents
    Before applying, you will need the following documents:

    • Proof of your pension: An official letter from your pension office confirming the amount and longevity of your payments.
    • Police clearance certificate: It must come from your home country and must not be older than six months.
    • Passport: A copy of your valid passport (with at least 6 months of validity).
    • Birth and marriage certificates (if applicable): These must also be legalized.

    Application in Panama
    With the prepared documents, you travel to Panama. The visa application is submitted through a Panama-based lawyer.

    Submission to the Immigration Office:
    Your lawyer submits your application and documents to the Panamanian Immigration Office.

    Temporary residence permit: During the processing time (approximately 2–4 months), you receive a provisional residence permit.

    Payment of Fees
    The costs for the Pensionado Visa are as follows:

    • Government fees: Approximately $250–500 USD.
    • Legal fees: Depending on the firm, between $1,500 and $2,500 USD – we are happy to provide you with an individual offer.
    • Legalization of your documents: These costs vary depending on the country of origin.

    What Are the Benefits of the Pensionado Visa?

    With the Pensionado Visa, you not only enjoy Panama’s pleasant climate and relaxed lifestyle. You become a Permanent Resident and also benefit from numerous financial and legal advantages:

    Tax Benefits

    • Tax-free import: You can import personal items worth up to $10,000 USD tax-free to Panama.
    • Vehicle import: A car can also be imported tax-free (once every two years).

    Exclusive Discounts for Pensionados
    The Pensionado Visa offers a variety of discounts up to:

    • 50% discount on movie tickets and cultural events.
    • 30–50% discount on hotels (depending on weekdays).
    • 25% discount on airline tickets and energy costs.
    • 20% discount on medical services and medications.

    Permanent Security

    • Unlimited residence permit: The visa is permanently valid and allows you to spend your retirement worry-free in Panama.
    • Easy access: There is no obligation to purchase property or make specific investments.

    Frequently Asked Questions About the Pensionado Visa / Permanent Residency for Retirees

    Can I buy property as a Pensionado?
    Yes, the visa is independent of a property purchase. However, many Pensionados choose to acquire property in Panama because real estate prices are comparatively low.

    How long does the application process take?
    The processing time usually takes 2–4 months, depending on the completeness of the documents and the workload of the authorities. The application process can also be started remotely in your absence, so you only need to be in Panama on-site for about one week to receive your Panamanian residence card with a photo and signature at the Immigration Office.

    Can I bring my family?
    Yes, spouses and dependent family members can be included under your visa, as long as their maintenance is guaranteed by your pension.

    Do I have to live permanently in Panama?
    No, you are not obliged to live in Panama. The Pensionado Visa allows you to settle permanently in Panama – but you can also use the Pensionado Visa as a Plan B and remain residing in your current home country. To keep the status of your Permanent Residence active, you are only expected to enter Panama every 2 years. However, this can also be just for a vacation trip.

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      portrait of team member

      A contribution by

      Jona Ernesto Weyermann

      As a native Swiss, I have been living under the Panamanian sun since 2020. Here, I am your personal contact for real estate investments, permanent residency permits, and relocation. With a clear, honest, and goal-oriented approach, I support you in making informed decisions and successfully implementing your plans. Your goals are my mission – with expertise and a focus on what matters most.

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      Feel free to sign up for a free and non-binding initial consultation, or send us a personalized message via the contact form or by email at mail@weyermann.xyz

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