Panama Retiree Program

Also regulated by Law N° 9 of June 24, 1987, the retiree or “pensionado” residence status requires that applicant demonstrates an income on pension of only US$500.00 per month and $100.00 for each dependent.

Once the visa petition is filed before the Immigration and Naturalization Directorate, a provisional residence permit, valid for a one-year period will be granted to the applicants. At the end of the one-year period, a petition for permanent residence must be filed. The permanent residence permit, once approved, grant the applicant a Panamanian Identification Card and the right to apply for Panamanian Nationality after 5 years

This type of residence is expedite ant the status is granted for life.

Requirements to Obtain the Retiree Status

• Power of attorney
• Good health medical certificate, HIV Test
• Good standing report from police or municipal authorities
• Complete copy of passport
• Letter certifying applicant condition as a retiree and amount earned per month. If it is a private entity, proof of its existence must be supplied.
• Photographs, carnet size
• Marriage certificate

Note: Except for the retiree certification, the same documents must be supplied by the spouse. All documents must be apostilled or certified before a Panama consulate at the place of issuance.

Panamanian law also grants retirees a very good tax exemption package including:

• Tax exemption to import a car every 2 years
• Import tax exemption for households up to US$10,000
• Multiple tax exemptions and discounts on services in Panama