Permanent residence visa for retiree/pensioner

Foreigners who receive a retirement or pension from a foreign government, international organization, or private company and wish to settle in Panama may apply for permanent residence under this category. The monthly pension or retirement income should not be less than one thousand balboas (B/.1,000.00) and must be granted for life.

The requirements for applying for permanent residence are as follows:

1. Powers of attorney and forms that we will provide for your signature.
2. Five (5) passport-sized photographs.
3. Copy of your passport's complete pages with a minimum validity of three months.
4. Criminal record certificate from the country of origin or residence, duly apostilled or authenticated at the Consulate of Panama in the country where it was issued.
5. Certificate of good health issued by a doctor in Panama.
6. Certification of your retired or pensioner status from foreign governments, international organizations, or private companies, demonstrating that you receive a lifelong pension of no less than one thousand balboas (B/.1,000.00) per month or its equivalent in currency.
7. Public Registry certificate of real estate (if applicable).
8. If the pension or retirement comes from a private company, the following must be provided in addition to the requirements mentioned in this article:
   1. Letter from a foreign pension administration company, trust, mutual fund, insurance, or banking institution certifying that it manages funds for the company or the applicant.
   2. Certificate of existence and validity of the company granting the pension and managing the fund.
   3. Copy of payment receipt or bank statement.

Observations::

1. An additional economic solvency of two hundred and fifty balboas (B/.250.00) per dependent will be required, which can be justified with an additional pension or a local bank reference.
2. If the applicant has acquired a property in their name in the national territory for an amount exceeding one hundred thousand balboas (B/.100,000.00), the pension may be a minimum of seven hundred and fifty balboas (B/.750.00).
3. In the case of spouses, the sums of both can be combined to meet the minimum pension requirement of one thousand balboas (B/.1,000.00).
4. In the case of dependent children, their visa will be temporary until they reach twenty-five (25) years old, provided they prove that they are pursuing full-time studies. However, they will not be entitled to permanent residence or pensioner status, except for those dependent children with proven profound disabilities.
5. This retirement pensioner residence visa is granted indefinitely, and therefore, it does not require extensions.

The retirement pensioner residence visa does not allow for the application for a work permit from the Ministry of Labor and Labor Development.