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The following are the general requirements to apply for the pensioners visa:
The minimum monthly pension income can’t be less than $1,000.00 and must be granted for life.
Exception on the Minimum amount of $1,000.00:
In the event that the applicant proves that he or she has acquired a property valued at an amount in excess of $100,000.00, the pension amount may be reduced to a minimum $750.00.
The applicant must provide the following documents:
- Letter certifying their status as a retired pensioner from foreign governments, international agencies or private companies, confirming that receives an allowance of not less than $1,000.00 monthly or its equivalent in foreign currency and is lifetime.
NOTE: Government pensions qualify as lifetime. - For each dependent the pension needs to increase by $250.00.
- Certified public registry of property (if applicable);
- If a pension or retirement is from a private enterprise, the applicant also must provide the following:
A. Letter from a foreign company’s pension administration, trust, mutual funds, insurance or banking, certifying the funds to ensure the lifetime pension of the applicant.
B. Certification of existence and validity of the company, which
grants pension and administers the fund.
C. Copy of proof of payment (checks or bank statement).
The other required documents are:
- Police report or record
- Marriage certificate
- Health certificate
- Complete copy of passport
- Immigration affidavit
- 5 passport sizes pictures
All foreign documents must be Apostilled by the Office of the Secretary of State or Authenticated by the Panamanian Consulate. All documents must be translated into Spanish (it is done here). Before you can change your status from tourist to pensioners visa you need to be registered at the immigration department.
Self economic solvency visa or person of means visa
This visas offers international investors the opportunity to obtain legal residency and citizenship after five years of resident status. Currently, the Self-Economic Solvency Visa offers three (3) different investment options to qualify for residency status in the Republic of Panama;
Investment Option # 1:
Investment: Invest a minimum of US$300,000 (three hundred thousand US Dollars) in a three (3) year time deposit (or “certificate of deposit” or “CD”) at any licensed bank in Panama.
Stipulations: (1) The time deposit (CD) account must be in the personal name of the primary applicant (it may not be in the name of a corporation, foundation, or trust). The interest earned from the time deposit (CD), will be deposited monthly into any savings account at the bank that you designate (the savings account may be a personal account, or a corporate account). The interest income is NOT taxed by the Panamanian government, nor is it subject to any tax reporting requirements.
Investment Option # 2:
Investment: Invest a minimum of US$300,000 (three hundred thousand US Dollars) in a titled property (real estate) in the Republic of Panama.
Stipulations: (1) The titled property must be in the personal name of the primary applicant (it may not be in the name of a corporation, foundation, or trust).
NOTE: It has to be clear title and not mortgages.
Investment Option # 3:
Investment: It can be the combination of the option #1 and Option #2. Up to the amount of $300,000
Business investment: Minimum amount to invest in a business is $160,000
The company needs at least 5 Panamanians working for them.
All the above you will need to add $2,000 for each dependent to the total amount invested. Also you can proof solvency through a bank account in Panama. The account need to have at least 5 digits. Immigration will request a copy of the 3 last bank statements.
The other required documents are:
- Police report or record
- Marriage certificate
- Health certificate
- Complete copy of passport
- Immigration affidavit
- 5 passport sizes pictures
All foreign documents must be Apostilled by the Office of the Secretary of State or Authenticated by the Panamanian Consulate. All documents must be translated into Spanish (it is done here). Before you can change your status from tourist to pensioners visa you need to be registered at the immigration department.
Reforestation visa
Investment in reforestation: minimum amount $80,000 and the area can’t be smaller than 5 hectares. There are companies that already have the 5 hectares planted and will sell it with all the documents that Immigration requires to apply for it. When the trees are 15 years or older they will take care of selling it. Hopefully with a profit.
You can negotiate a deal with them. I have negotiated for clients that they only pay a one time fee no maintenance.
The other required documents are:
- Police report or record
- Marriage certificate
- Health certificate
- Complete copy of passport
- Immigration affidavit
- 5 passport sizes pictures
All foreign documents must be Apostilled by the Office of the Secretary of State or Authenticated by the Panamanian Consulate. All documents must be translated into Spanish (it is done here). Before you can change your status from tourist to pensioners visa you need to be registered at the immigration department.
Business investment visa
Minimum amount to invest in a business is $160,000.The company needs at least 5 Panamanians working for them.
All the above you will need to add $2,000 for each dependent to the total amount invested. Also you can proof solvency through a bank account in Panama. The account need to have at least 5 digits. Immigration will request a copy of the 3 last bank statements.
The other required documents are:
- Police report or record
- Marriage certificate
- Health certificate
- Complete copy of passport
- Immigration affidavit
- 5 passport sizes pictures
All foreign documents must be Apostilled by the Office of the Secretary of State or Authenticated by the Panamanian Consulate. All documents must be translated into Spanish (it is done here). Before you can change your status from tourist to pensioners visa you need to be registered at the immigration department.
Student visa
To apply for the student visa, we need the following documents:
- Admissions letter from the school.
- Receipt of payment of the enrollment.
- Certification from the school with the following:
a) General information of the applicant.
b) Duration of the career.
c) Courses taken and the shift he/she is in. - Certified credits from the year before. In Spanish is “créditos del año anterior”.
- Certification authenticated by notary of the parents in which they assume the responsibility of the expenses of the student and copy of his/her passport.
- Bank statement
- Proof residence. If he lives with you, you need to write a letter certifying he lives with you.
- Five photos
- Complete copy of the passport
New visa to countries friendly to Panama
It’s a Permanent Resident visa for foreign nationals from specific countries that maintain friendly, professional, economic, and investment relationships with the Republic of Panama.
List of countries: United Kingdom, Northern Ireland, Germany, Argentina, Australia, South Korea, Austria, Brazil, Belgium, Canada, Spain, United States of North America, Slovakia, France, Finland, Kingdom of the Netherlands, Republic of Ireland, Japan, Norway, Czech Republic, Swiss Confederation, Republic of Singapore, Uruguay, Chile, Kingdom of Sweden, Republic of Poland, Hungary, Hellenic Republic (Greece), Portuguese Republic, Republic of Croatia, the Republic of Estonia, Republic of Lithuania, Latvia, Republic of Cyprus, the Republic of Malta, Republic of Serbia, Republic of Montenegro, State of Israel, Kingdom of Denmark, South Africa, New Zealand, Special Administrative Region of Hong Kong, Luxembourg, Liechtenstein, Principality of Monaco, Principality of Andorra, Serene Republic of Marino, Republic of Taiwan.
Requirements:
- Power of attorney (it is done here in Panama).
- Five passport sized photographs.
- Complete passport copy notarized (It is done here in Panama)
- Police record or criminal record for each applicant. It must be authenticated by the Panamanian Consulate nearest you or you can Apostille it at the Office of Secretary of States of your Hometown
- Health certificate (its is done here).
- Certified check on the amount of $250.00 in favor of the Treasury Department (it is done here. It has to be from a Panamanian Bank).
- Certified check on the amount of $800.00 in favor of the Immigration (it is done here).
- Immigration Affidavit (It is done here. I will provide you with the form)
- Document that demonstrates the purpose of requiring the permanent residency, according to the professional or economic activity that will be realized; if you plan to work : a promise labor contract or if you want to open a business: documents of the business. The most important is that Immigration doesn’t require a minimum amount investment nor to hire employees.
- Proof of the economic solvency of the applicant, which will be demonstrated by providing the following.
- A banking certificate or bank account statement from the past month that reflects an account balance of no less than four digits, or that demonstrates your income, that’s acceptable to the National Immigration Service.
- A copy of the identification card or residency card from your country. If the country doesn’t have an Identification card, it can be an authenticated copy of the driver’s license or a letter. This has to be done here by the Embassy representing your country in Panama.
- A letter of responsibility, if necessary; (in case of dependents).
- Documentation to verify kinship, if you have dependents. In case of Married couple you need to bring the marriage certificate. It needs to be authenticated at the Panamanian Consulate nearest your or Apostille at the Office of Secretary of State. In case of children their birth certificate. It also needs to be authenticated by the Panamanian Consulate nearest you or Apostille by the Office of Secretary of State.