Foreign retirees and pensioners can take advantage of the Pensioner-Retiree Immigration Permit to secure permanent residency in Panama while benefiting from tax advantages and discounts. Here’s a step-by-step guide:
1. Check Eligibility
Ensure you meet the requirement of a lifetime pension or annuity of at least US$1,000.00 per month. Add US$250.00 for each dependent.
2. Gather Required Documents
- Passport
- Proof or pension or retirement benefits (apostilled/legalized)
- Criminal record certificate
- Certificate of good health
- Birth and marriage certificates (if applicable).
All documents must be apostilled in the country of origin or legalized by the Panamanian Consulate in the country of origin. If the documents are written in a language other than Spanish, they must be translated in Panama by a Panamanian-certified translator into the official language of Panama, which is Spanish.
If your foreign police record shows any convictions or arrests, the Panamanian lawyer can request authorization from the National Immigration Service of Panama to submit your residency application.
3. Hire a Lawyer
A Panamanian local lawyer or law firm is essential to handle documentation and file your application with Panama immigration authorities
4. Submit the Application
An online preregistration form must be completed. Then, your passport needs to be registered (stamped) at the Immigration Office of Panama. After that, you can file your documents at the Immigration Office in Panama. The lawyer and/or their legal assistants will be with you at the office to file your application. You’ll receive a temporary immigration card during processing (1-6 months). Additionally, you will obtain a multi-entry and exit visa, allowing you to leave the country and return while the application is being processed.
5. Receive Permanent Residency
The lawyer and/or their legal assistant must visit the National Immigration Service of Panama office and show your passport physically in order to be formally notified, in writing, of the decision on your application. If approved, you’ll be issued a permanent residency card. You will need to be physically present because they will take your picture for the new immigration card, which is the permanent residency card issued by the Panamanian National Immigration Service.
6. Enjoy Retiree and Pensioner Benefits
As a retired and/or pensioner resident, you’ll have access to discounts on healthcare, travel, entertainment, and more. To do this, you will need to apply for an ID card issued by the Panama Electoral Tribunal. This is another Panamanian governement entity. The process is very simple. Usually, the lawyer or a translator can help you with this.
Hiring a professional to navigate this process ensures efficiency and compliance. Start planning your retirement in Panama today! If you want to learn more or apply for permanent residency under the category of pensioner and retiree, please call us at +507 6290-3468 or email us at info@lawyerinpanama.com.