You are probably aware that Panama is currently known as one of the best options to move, invest, and live in Central America. Let’s discuss an excellent option to consider if you want to apply for Panamanian residency.

If you receive a retirement or pension from a foreign government, international organization or private company, want to settle in Panama, and have sufficient economic means to cover all your needs, you can apply for a pensioner visa. Take into consideration that the monthly income or pension cannot be less than $1000 USD. If you qualify with $1000 USD per month income, at the end of the application process, you will be granted the “Cédula E” or the National ID for residents.

What do you need to apply?

First, let’s talk about the basic requirements. For this and every other immigration category, you will need to procure the following:

• Copy of the valid passport of each applicant, duly verified by a Panamanian notary public, or by the certification of the diplomatic representation accredited in the country or of the corresponding authority in the place of issuance.

• Certificate of criminal (police) record of the country of origin or residence. Duly legalized or apostilled with its respective Spanish official translation.

• Health certificate issued by a Panamanian qualified physician, within the three months prior to the presentation of the application.

In the case of having dependents, each one of them must provide the documentation that proves their link with the applicant, such as: birth certificate or marriage certificate, duly legalized or apostilled with their respective Spanish official translation.

For the main requirement you will need to file a letter from your pension administrator, indicating that you receive a lifetime monthly pension that, as mentioned before, must be equal to or greater than $1000 USD. However, this matter will vary depending on the type of pension you receive.

Government or social security pension

You must deliver a certification issued by the corresponding government entity that pays the retirement or pension for life, in which it must state that you receive a monthly income of at least $1000 US dollars. This document must be original, official, authenticated and must have an official Spanish translation. Keep in mind that in case this certification does not specify that the payment is for a “PENSION” and is for “LIFE”, you will have to provide an affidavit signed declaring that the payment is for a “retirement pension” and it is for “LIFE”.

Private pension

In this case, you must deliver a letter, in letterhead form, from the company that pays for your retirement or pension, signed by a representative of the company. It must also have all the information and contract data that certifies that you receive a monthly pension for life of at least $1000 USD. This document must be original, official, authenticated and must have an official Spanish translation

In case you are interested in this visa, feel free to contact us. Outlier Legal will guide you through the process from start to finish, including assisting you with the cédula (permanent resident ID card) procurement.