When people retire, they wonder which is the best way to spend the rest of their lives. In this sense, many are looking for new destinations to live and improve their quality of life. This is why Panama has become one of the favorite places for pensioners and retirees. The retirement visa in Panama offers a range of benefits, making the country one of the top 3 most chosen Latin American destinations to live in this period of life.
However, it is necessary to keep in mind that there are requirements to settle as a retired worker in Panama. Legal Solutions Panama brings the answers to all retirees and pensioners who are looking for a new destination to live in.
Requirements to obtain a Retiree Visa in Panama
There are some things people should know about the procedures to live in Panama for the rest of your life:
- To obtain the Residence Permit for Retiree or Pensioner, the income per month must be less than B/.1,000.00 or its equivalent in foreign currency. Certification of the status as retired or pensioned by foreign governments, international organizations, or private companies, in which it is credited to receive a life pension. In addition, this amount must be granted to the beneficiary for life.
- Acquire a Power of Attorney and Application (notarized and by a qualified Panamanian attorney).
- Include in the documents three (3) passport-size photographs.
- To carry a copy of the passport (Notarized).
- Obtain the certificate of Criminal Record (or affidavit before a Notary if this document does not exist in the applicant’s country of origin).
- Certificate of Health by a qualified Panamanian doctor.
- Personal Background Affidavit Form.
What to do if the retirement is provided by a private company
In this sense, if the retirement or pension comes from a private company, it must be integrated into the documentation:
- A letter from a foreign pension administration, trust, mutual fund, insurance, or banking company, which accounts that it administers funds for the company or the applicant.
- Certification of existence and validity of the company, which grants the pension and administers the fund.
- Copy of proof of payment or bank statement.
Legal Solutions Panama helps to know all the requirements to get the visa
The law firm Legal Solutions Panama is in charge of providing information to all retirees and pensioners around the world to help them comply with Panamanian legislation. This is a group of professionals specialized in assisting citizens from all over the globe to obtain a retirement visa in Panama, enabling them to reside and invest in this wonderful Central American country.
In addition, they give people the option to try our services with a free consultation. It’s easy to book an appointment on its website.
