Panama retirement visa: pensionado and rentista retirado

The pensioner must receive a retirement or other pension from a foreign government, an international organisation or a private company, granted for life, of no less than B/.1,000 a month or its equivalent, and have enough means to cover their own living costs and those of their dependants. Each dependant adds B/.250 a month, which can be justified with an additional pension or a local bank reference.

Two exceptions ease the threshold. A pensioner who has bought property in Panama in their own name for more than B/.100,000 needs a pension of at least B/.750. Spouses may add their pensions together to reach the B/.1,000 minimum.

File a notarised power of attorney and application that names your parents and their nationality, three photos, a duly certified passport copy, a criminal record certificate, a health certificate and the sworn personal history form. Add the certificate of your pensioner status from the foreign government, international organisation or company showing a lifetime pension of at least B/.1,000 a month, and the Public Registry certificate of any property you rely on.

If the pension comes from a private company, also provide a letter from a foreign pension, trust, mutual fund, insurance or bank administrator certifying that it manages the funds, a certificate of the existence and standing of the company paying the pension, and a payment receipt or bank statement.

The retired rentista proves a monthly income of B/.850 that comes solely from interest on a fixed-term deposit at the Banco Nacional de Panamá or the Caja de Ahorros, free of any lien or guarantee, for at least five years. The file includes a bank certificate stating the deposit amount, interest, term and that it is unencumbered, and a copy of the deposit certificate authenticated by the bank.

The permit is granted for five years and can be extended for the same term with the same documents except the criminal record. Withdrawing the deposit after the first five years, or breaching Law 9 of 1987, means losing the incentives and rights that the law grants.

Dependent children receive a temporary permit until they turn 25, provided they prove full-time studies; they do not gain permanence or pensioner status themselves, except children with a proven profound disability. A dependant aged 18 to 24 under the rentista route provides a notarised responsibility and repatriation letter, proof of kinship, proof of address, a certificate of single status and a study certificate.