Panama Pensionado Visa

Who qualifies?

Foreigners who receive a retirement or pension benefit from a foreign government, an international organization or a private company, who come to settle in Panama with enough means to support themselves and their dependents.

The pension must be granted for life and cannot be less than US$1,000 a month. Government retirement benefits such as U.S. Social Security can qualify when the official benefit letter shows the monthly amount. If your pension has a fixed term, this route does not apply; see the Rentista Retirado option below.

There is no minimum age in the rule: what matters is proving a lifetime pension.

Requirements and documents

The official list of the National Immigration Service (PRP-JP permit), explained in plain English:

1. A notarized power of attorney in favor of your Panamanian lawyer, and the application. The power of attorney must state the names and nationality of the applicant's parents.
2. Three photographs.
3. A certified (notarized or authenticated) copy of your passport.
4. A criminal background certificate. For U.S. citizens this is usually the FBI Identity History Summary with an apostille.
5. A health certificate.
6. The sworn personal background statement form.
7. Certification of your status as a retiree or pensioner, issued by the foreign government, international organization or private company, showing a lifetime pension of at least US$1,000 a month or its equivalent.
8. For each dependent, additional proof of US$250 a month, through an additional pension or a local bank reference.
9. A Public Registry certificate for your property, when you use the US$750 route.
10. If a private company pays the pension: a letter from the pension, trust, mutual fund, insurance or banking company that manages the funds; a certificate of existence and good standing of the company; and a payment receipt or bank statement.

Documents issued abroad generally need an apostille (or consular legalization) and, if they are not in Spanish, an official translation into Spanish. We tell you how to prepare each one before you travel.

Spouse and children

Your spouse can be included as a dependent, and spouses may combine their pensions to meet the US$1,000 minimum.

Dependent children receive a temporary permit until age 25 as long as they prove full-time studies; they do not obtain permanent residency or pensioner status, except children with a proven profound disability.

Rentista Retirado: the option without a lifetime pension

If you do not receive a lifetime pension, Panama offers the Rentista Retirado (retired person of independent means) category, PPT-RR permit:

• You must show income of at least US$850 a month that comes exclusively from interest on a fixed-term deposit at Banco Nacional de Panamá or Caja de Ahorros.
• The interest must be free of liens or guarantees, and the deposit must be kept for at least five years.
• You file a bank certificate stating the amount, interest, term and absence of liens, plus a copy of the deposit certificate authenticated by the bank.
• The permit is a temporary residency for five years, renewable for the same term with the same documents except the criminal background certificate.
• The capital required depends on the interest rate the bank offers when you open the deposit; we work it out with you beforehand.

Withdrawing the deposit or breaching the terms of Law 9 of 1987 and its regulations causes the loss of the incentives and rights granted by that law.

Pensionado or Rentista Retirado

Benefits under Law 9 of 1987

• A one-time exemption from import duties on household goods and personal items up to B/.10,000 (the balboa is at par with the U.S. dollar).
• An exemption from import duties on one vehicle for personal or family use every two years.
• Customs applies conditions to these exemptions; we review them before you ship your household goods or car.
• As a resident retiree or pensioner, you can access the discounts established by Law 6 of 1987 and its amendments (medical services, medicines, transportation, entertainment, hotels and restaurants, among others). Percentages may change with new amendments; we confirm the current ones.

Can you work?

As a general rule, no. Law 9 of 1987 prohibits pensioners and retired persons of independent means from working, with exceptions: specialized services to the Government that Panamanians do not offer, significant investments in private companies with authorization from the Ministry of Labor, and serving as directors of companies in which they hold investments. You can invest in Panama.

How we handle your application

1. 01

   Initial review

   You write to us on WhatsApp or by email. We review your pension letter and your situation before you spend money on apostilles and translations.

2. 02

   Your document checklist

   We send you the list of documents to obtain in your country, with instructions to apostille, legalize and translate each one.

3. 03

   Filing in Panama

   In Panama you sign the power of attorney and get the health certificate, and we file the application with the National Immigration Service. You must be in the country for this stage.

4. 04

   Follow-up until your card

   We follow the file until the decision and the delivery of your residency card, and keep you informed in English at every step.

Fees follow the Panamanian Bar Association's Agreement 609-A of 2021, with a written quote before we start. Government fees, apostilles, translations and notary costs are itemized separately. How our fees work.