Panama Friendly Nations Visa
In this post, you will find all the important information about the Panama Friendly Nations Visa. This post outlines information such as who can apply, what is the visa fees and what is the application process.
I can only guess how eager you are to become one of the unique residents of Panama. Imagine enjoying the beautiful sunrise over the Pacific Ocean and sunset on the Atlantic Ocean from the same spot. If you are not someone that wants to sit around and look at sunsets, how about enjoying the rainforest in Panama City?
I know you might be shocked that there is a rainforest in a city, but there are a few things you need to know first. If you want to become a permanent resident of Panama, you can apply for a Panama Retirement Visa. Although you can also apply for the Panama Friendly Nations Visa, this post will focus on the Panama Retirement Visa.
In this post, we’ll cover everything you need to know about the Panama Retirement Visa. I will cover information such as who can apply for the Panama Retirement Visa, the required documents, and the benefits.
Here's what you need to know:
The Panama Retirement Visa, commonly known as the Panama Pensionado Visa or a Panama Pensioners Visa, is for retirees or those with lifetime pensions.
The Panama Pensionado program permits foreigners to seek legal residency in Panama if they have a guaranteed monthly income for the rest of their lives. According to the Panama Immigration Department, you must be 18 years of age to apply. After that, you only need to meet the requirements and submit the relevant documentation.
Although you know the Panama Retirement Visa basics, we can dive a bit deeper into the details.
In this section, we’ll cover information such as who can apply for the Panama Retirement Visa program, the minimum monthly income, and the visa fees.
Later in this post I will cover the benefits of the Panama Retirement Visa, the required documents, and the application process. Please feel free to use the links provided if you want to skip ahead.
As I mentioned earlier, any foreign citizen can apply for the Retirement Residency Visa in Panama, as long as you are at least 18 years old and meet the monthly income requirements. There are no restrictions on which countries can apply for the Panama Retirement Visa. In other words, all expats are welcome to retire in
If you are applying for the Panama Retirement Visa, you must prove that you have a minimum monthly pension income of 1,000 USD for the rest of your life. Perhaps your monthly pension amount is less than 1,000 US Dollars, but no less than 750 US Dollars. In that case, you can buy real estate in Panama with a value of at least 100,000 USD to qualify for the Panama Retirement Visa.
It is also important to note that you can combine your pension totals to ensure you have 1,000 US Dollars if you apply with your spouse. If you add a dependent, your monthly income requirement will rise with 250 USD.
As you might have guessed, you must pay a visa fee when applying for the Panama Retirement Visa. Please find below the visa fees for yourself (if you are the main applicant) and for dependents:
Please remember that you must do your application through a lawyer in Panama. This means that you will be required to pay additional legal fees.
The processing time for the Panama Retirement Visa typically takes about 3 months. However, it is important to note that you must submit your documents in person and collect your documents yourself.
One of the many great things about the Panama Retirement Visa is that you can enjoy great incentives. Please find a list below of all the Panama Retirement Visa benefits:
If your Panama Retirement Visa is approved, you also enjoy the following tax exemptions :
Now that you are familiar with the Panama Retirement Visa basics, we can get to the essential information. However, the required documents are very important to complete your visa application process. Therefore, please ensure that you gather the following documents before starting your Panama Retirement Visa application:
If you are applying for the Panama Retirement Visa with your spouse or any other dependent, they must submit a list of documents. I know this might seem like many documents, but we're almost at the application process. So here is the list of documents that you must submit:
Important note: You can use an Annuity issued by a bank, an insurance company, or even a private company to meet the Panama Pension Visa requirements.
You made it to the final step of your Panama Retirement Visa, the application process. Here are the steps you must follow to complete your Panama Retirement Visa to enjoy your permanent residency:
The first step is to register your passport at the Panama Immigration Office. This means that you must go to Panama. If you are from Canada, Costa Rica, or a US citizen, you do not have to apply for a visa. However, if you are a citizen from a country that requires a Panama Visa, I suggest that you apply for the Panama Tourist Visa.
After registering your passport, you must submit your required documents to the Panama Immigration Office.
After submitting all your documents, you must wait a few days for your Provisional Processing Card and Multiple Entry-Exit cards. Your Multiple Entry and Exit card will be valid for 3 months to a year and must be used to exit Panama.
As I mentioned earlier, after waiting for about 3 months, you will be notified that your Permanent Residency Permit and Retirement Visa have been approved. The last thing you must do is book your flight ticket to Panama and collect your authorized Panama Retirement Visa at the Panama Immigration Office.
You made it through a tiresome application process, but before you forget anything, let's take a look at the key points of the Panama Retirement Visa:
As a condition of naturalization, Panamanian nationality law requires an oath of renunciation of previous citizenships. However, Panama de facto allows dual citizenship, as renunciation may not be practical unless it is also executed through the relevant authorities of the applicant's current country of nationality.
Retirement benefits are granted to all residents and citizens of Panama who are of a certain age. For example, men can claim these benefits at 62 years of age and women at 57.