- Benefits and Discounts having a Pension Visa
- Notification from the Government of Panama
This program allows foreigners to obtain legal residency in Panama under the condition that they are retired or pensioned. According to the Immigration Department of Panama, there is no minimum age required to qualify (you only need to provide the requirements / documents described below).
The applicants' retirement income (or pension income) must be at least a lifetime US$500 per month . For each dependent, the retirement income (or pension income) amount must be increased by US$100.
The applicants' income must be proven by providing documentation such as a letter from the institution or corporation that pays the retirement or pension income. This certification must be notarized and authenticated by the Panamanian Consulate nearest you (or by apostil).
Procedures for Applying for Residency:
1. Provide all required documents.
2. Your law firm should prepare the complete package of documents required, and have them ready to be presented at the Immigration department.
3. A short visit to Panama is required for your Passport Registration at the Immigration Office. You will also sign the Special Power of Attorney for your law firm to handle your immigration paperwork and to start the processing of the Pensioned Visa. Please, don't wear shorts, t-shirts, or sandals during your visit to the immigration office.
4. Your law firm submits your application for your Pensioned Visa.
5. If you will not stay in Panama , a second short visit to Panama is required for you to personally have your official picture taken at the Immigration office where you will then be provided with the Permanent Resident Card.
Passport Registration
A short visit to Panama is required to register and stamp your Passport at the Immigration Office. NOTE: No shorts, t-shirts or sandals are permitted in government offices.
The requirements are:
1. Two (2) passport sized photographs of the applicant (and dependents - if applicable).
2. Complete immigration registration Form (POLS will provide this to the Client, who only needs to complete and sign it).
3. Your original passport, and one (1) photocopy of passport (the original passport will be returned to the Client immediately after it's registration.).
Required Documents (for Immigration processing):
Documents that You must provide to your law firm (for applicant and dependents - if applicable):
1. Photocopy of complete valid passport of the applicant (and dependents - if applicable), including the picture page (that shows the picture, name, date of birth, passport number, place of issue, etc.), and all other pages (all pages of the passport). This should be provided after the Passport Registration is registered at the Immigration Office in Panama . Please note that the passport must be valid for at least 6 months from the date of the immigration application.
2. Six (6) passport sized photographs of the applicant (and dependents - if applicable).
3. Certificate of Good Health, issued by a licensed Panamanian hospital or clinic, signed by a registered, licensed physician, indicating that the applicant (and dependents - if applicable) has no contagious diseases and is in good mental and physical condition. THIS MUST BE DONE DURING YOUR INITIAL VISIT TO PANAMA .
Documents that your law firm should provide to you:
4. Documentation of proof of Pension from either of the following:
a. If Pension is from a Government Institution or Social Security: Client must provide certification from the respective Government institution that pays the applicants retirement or pension income, certifying that the person receives a "pension" in the amount of at least a lifetime US$500 per month (plus US$100 for each dependent that you wish to add if applicable). This document must be 'original', 'official', 'updated' and 'authenticated' (please check explanation of these terms below).
b. If your Pension is from a Private Corporation: Client must provide a letter on the corporation's letterhead from the corporation that pays the applicant's retirement or pension income, signed by a representative of the corporation, with complete contact information for verification purposes, certifying that the person receives a "pension" in the amount of at least a lifetime US$500 per month (plus US$100 for each dependent that you wish to add if applicable). This document must be 'original', 'official', 'updated' and 'authenticated' (please check explanation below of these terms).
5. If the Letter is from a Private corporation, then you must also provide a Certification from the appropiate Government authority that certifies that the Corporation pays the pension is in good standing and duly registered. This document must be 'original', 'official', 'updated' and 'authenticated' (please check explanation below of these terms).
6. Copies of proof of pension payments (copies of pension payment checks, bank statements showing deposits, etc.) from Institution/Company to applicant. This document must be 'authenticated' (please check explanation below of these terms).
Documents that You must provide to your law firm (for dependent - if applicable):
7. Police record from the country of your last 5 years of residency. This document must be 'original', 'official', 'updated' and 'authenticated' (please check explanation below of these terms).
8. Marriage Certificate (for the spouse - if applicable), and/or Birth Certificate (for children under 18 years of age - if applicable). This document must be 'original', 'official', 'updated' and 'authenticated' (please check explanation below of these terms).
IMPORTANT:
- Clients should send in advance all required documents by courier before his/her first visit, or they can bring them during his/her first visit.
- Clients should download, fill out and complete the Filiation Form and the Personal Background Info Application, exactly as it shown in our Website (See Immigration and Visas). Please send these two application forms by courier before your first visit, or please bring them in during your first visit.
Documents that your law firm have to provide to you:
1. Special Power of Attorney, signed by the applicant (and dependents - if applicable), authorizing our law firm to process the immigration applications and documentation.
2. Letter of Responsibility, signed by the applicant, whereby the applicant takes responsibility for his/her dependents (if applicable).
3. Immigration Declaration Forms, to be completed and signed by the applicant (and dependents - if applicable).
Note: for authenticating documents through the Panamanian Consulate, please contact us to request the contact information of the Panamanian Consulate nearest you.
- All documents that come in a language different than Spanish, have to be translated in Panama through an official certified translator in Panama .
- All Passports expiration dates should not be less than six (6) months.
Meaning of terms:
- Authenticated: Notarized and Authenticated by the Panamanian Consulate nearest you (or Authenticate by Apostil).
- Official: Issued directly by the respective Institution/Company, not internet printing nor other external source.
- Original: Original issued documents, not copies.
- Updated: With a recent date, not more than six (6) months, since the document was issued.
Permanent Residency obtained through the Pensioned Visa Program provides the holder with a Permanent Residency Card for certain discounts and exonerations of certain taxes.
Pensioned Visa holders do not qualify for Naturalization (Citizenship). If Client wishes to obtain Naturalization (Citizenship / passport), which can be obtained after five (5) years of being a Permanent Resident, Client would have to apply for a different type of Visa, such as Self Economic Solvency Visa, Reforestation Investor Visa, etc.
- Please do not wear short pants, short sleeves, t-shirts, or sandals in your visits to Panamanian government offices.
Multiple Entry & Exit Visa (Optional): After submitting your applications for residency in Panama, a Multiple Entry-Exit permit should be applied for allowing you to enter and exit the country as a Permanent Resident instead of a Tourist.
Benefits and Discounts having a Pension Visa
Law 6 of 16 of June or 1987
Law 6 of 16 of June or 1987 (Law 6 de 16 de June de 1987) and the sequence of laws modifying that law which established the benefits and privileges for:
1. All those classified as Jubilados & Pensionados residents of Panama (Irregardless of age) and;
2. For all other residents of Panama are they Panamanian or foreign nationals residing in Panama in their 3rd and 4th ages. It sets the age at 55 for woman and 60 for men.
Law N° 6 of 16 of June 1987, modified by subsequent changes in the law by Law 18 of 1989, Law 15 of 1992, Law 37 of 2001 and Law 14 of 2003.
Summary in English of Benefits and Discounts
Article 1.
To receive this benefits, it sets
A. The age at 55 for women and 60 for men for all residents of Panama be they Panamanian or of different nationalities.
B. It states that all Jubilados and Pensionados (Irregardless of Age) are so entitled to these benefits:
1. Discount of 50% of price charged for entrance to recreation and entertainment activities, such as movies, theaters, sports and other public productions. This discount is not applicable for those events marked as benefits for the youth, homeless or those specially authorized by the competent authorities.
2. Discounts for the following means of public transportation:
a. Inter-Urban buses; 30%
b. Trains, 30%
c. Launches and boats, 30%
d. 25% discount in air fares in public and private national and foreign Airlines
3. A minimum discount of the regular prices of hotels, motels and pensions
a. 50% from Monday to Thursday
b. 30% on Friday, Saturday and Sunday
4. 25% discount of food consumed by the individual in all restaurants except for the Fondas, which do not require license to operate
5. 15% discount in those rapid food establishments
6. 15% discount in the total cost for services of hospitals and private clinics
7. 10% (6) passport sized photographs of the applicant (and dependents - if applicable).
8. Discounts in the following medical services:
a- 20% in consultation fees of general medicine doctors and medical and surgical specialists.
b- 15% for dental services.
c- 15% for optometry
9. Insurance companies that include in their policies health benefits for illness shall adjust their fees to include the necessary adjustment so that the benefits of these discounts are transferred in the payment of the premiums when the insured is 55 years old if female, and 60 years old if male, as well as to the Pensionados & Jubilados.
10. 20% discount for technical and professional services.
11. 20% discount for all prosthetic devices as well as does items and accessories of personal assistance.
12, 13, 14, 15, 16 & 17 - Pertain to commercial transactions, loans, etc. and require a better translation than I can provide.
18. 50% discount in cost of passports.
19. 25% discount in monthly electrical consumption of private or public of private or public entity up to 600KW's and the normal tariffs will be applied to anything about that amount.
20. Discuss discounts to properties owned by associations of retirees and pensionados and the different discounts they are entitled to obtain.
21. 25% discount to the basic phone service charges when:
a- the phone service is in the name of the individual.
b- is for a residential phone
c- Is for one and only one phone. The normal tariff s will apply for anything more.
22. 25% discount in the water bill as long:
a- the consumption does not exceed $30.00
b- by bill is in the individuals frame
c- the bill is residential and is the prime residence. The normal tariffs will apply to all other residences. |
