In May of 2012, President Ricardo Martinelli issued a Presidential Decree 343 declaring that citizens of 22 friendly nations could apply to become permanent residents in a fast track manner.
Since then, other Decrees have increased the number of friendly nations to 50.
The formal wording of this permanent Panama residency visa is for “citizens of friendly nations with professional and economic ties with the Republic of Panama”.
Retirees or persons with “lifetime” pensions may qualify for the Panama retirement visa, also called the “Panama Pensionado Visa”.
The Panama Pensionado Visa allows foreigners to obtain legal residency in Panama under the condition that they have a pension income guaranteed for life. According to the Panama Immigration Department, there is no minimum or maximum age required to qualify, you only need to provide the requirements and documents listed below.
The applicants’ retirement income (or pension income) must be for life, and must be a minimum of one thousand US Dollars (US$1,000) per month. If your lifetime pension income is less than US$1,000 per month, but equal to or more than US$750 per month, you may purchase any Panama real estate property with a value of at least US$100,000, which reduces the lifetime monthly pension income requirement down to a minimum of US$750.
The Panama retirement visa applicants’ pension income must be proven by providing documentation such as a letter from the institution or company that pays the retirement or pension income. This certification must be notarized and authenticated by the Panamanian Consulate nearest you (or by apostile).
Tax Exemptions: As a qualified “Panama pensionado visa” holder, you will be entitled to:
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