Did you ever think you’d grow up to be a Panamanian pensioner? Well, whether you’ve been weighing the pros and cons for a while or it just fell on your radar, here are some helpful tips to see how to qualify for the Pensionado program, the application process, and, best of all, the benefits that await once you’re here. Alongside the host of other reasons why Panama comes top for a life-changing move, the Pensionado program checks more boxes than any other for value. Besides making it super easy for expat pensioners to obtain residence in the country, it also saves you 10-50% on everyday expenses like travel, entertainment, eating out, healthcare, and more. 
How To Qualify for the Pensionado Visa
The Pensionado programs allows foreigners to obtain legal residency as long as you receive a minimum “lifetime” pension or annuity of USD $1,000/month. And that means anyone – there’s no minimum or maximum age requirement. If your monthly pension falls short of the US$1,000, but is US$750 or more, you can qualify by buying a property in Panama valued at US$100,000+, effectively reducing the lifetime monthly pension income requirement down to US$750. If you’re married and your combined pensions add up to US$1,000 or more, you can apply jointly. Dependents, as long as they’re in full-time education qualify under your visa on a temporary basis until they turn 25, but you need to show an additional US$250/month in the monthly pension requirement for each.
The Documentation You’ll Need for the Pensionado Visa
Pensions from foreign governments or agencies simply need a certification letter stating the amount and that the funds guarantee a lifetime pension. If the pension or annuity is from a private company (bank, insurance, trust or mutual fund company), besides the certification letter you’ll also need to show documentation from a government authority that the company administering and disbursing the pension is registered and in good standing, as well as proof of monthly payments or an account statement from the bank. If you’re meeting the qualification threshold through the real estate purchase, you’ll also need to provide certification of Public Registration of the property with the title in your name. Next, you’ll need a police record from your last 5 years of residency, as well as pass a medical on arrival in Panama. Note that all documents need to be originals, notarized and either authenticated by your nearest Panamanian Consulate or duly apostiled. Marriage certificates and/or birth certificates (for children under 18 years of age – if applicable) are also required to be originals. Read on here for some tips from a Pensionado veteran on how to manage the actual process.
Application Process For Residency:
Bear in mind that for the Pensionado visa, you have to start the process in your home country. You also need to hire a Panamanian attorney to file your application, authorizing them via a Power of Attorney to handle the process and documentation on your behalf. Other than that, the procedure for all resident permits is the same: you register your passport in person at Immigration in Panama and present your application with all the required documents, fees etc, together with your attorney. You should plan to be in Panama over 7-8 business days for this process. Make sure you don’t go to Immigration straight from the beach in your shorts and flip flops, they’re picky about attire. At this point, Immigration will issue you a “Provisional Processing Card” and “Multiple Entry-Exit Visa” valid for the duration your residency application is being processed. Usually, you’ll get your visa in 2 – 3 months, at which point you should plan to return to Panama to take your final Immigration photos. And there you are, a newly minted Panamanian pensioner.
Phyllis Pendleton
on said
It states that you need a policy report for last 5 years of residency. Does this mean you need to ask you local state policy sept to run a policy report? So no FBI background check required?
Kent Davis
on said
Hi Phyllis, thanks for reaching out! Im going to intro you to our go-to Panama immigration attorney, as the policies do change from time to time.
Bennie Beebe
on said
Are USA Social Security funds accepted?
Marcus Lawrence
on said
I love the idea of becoming a retiree in Panama. So we need to hire a Panamanian Attorney? Is there someone who can provide some recommendations so as to ensure we get what we pay for kind of representation?
Kent Davis
on said
Yes! I’ve sent you a direct message
Gerald Harris
on said
Could you give me a referral to a good panama immigration attorney to guide me through the process of obtaining a pensionado visa?
Kent Davis
on said
Absolutely Gerald, you should have that introduction in your inbox. She’s one of Panama’s best immigration attorneys and I think you’ll get along well. Definitely the right person to guide you thru the process of obtaining that specific Pensionado visa.
Milton Ezell
on said
How many days per year must I physically be in Panama in order to maintain a Pensionado visa?
Kent Davis
on said
Hi Milton, once the pensionado visa cedula has been issued, you can leave for up to two years at a time. There are however certain periods during the obtaining of your cedula, which is the final step of the pensionado visa process, that you must come to Panama. But really its for processing purposes, not a time requirement per se. Hope that is helpful and if you need a recommendation to a trusted Panama immigration attorney, just say the word!
Howard Wilcox
on said
It says I need to start the Pensionado process from here in the US. How and what do I do to do that? Also, a recommendation and contact for a good but low-cost immigration attorney from you would be great. A detailed list of everything that I need for myself and my wife to apply for the Pensionado so I can start working on that here.