Pensionado Visa (Retirement)
The gold standard retirement visa requiring just $1,000/month pension
Overview
The Pensionado program is widely considered the best retirement visa in the Americas. It requires proof of just $1,000/month in lifetime pension income (Social Security qualifies) and grants immediate permanent residency with extraordinary discounts on everything from entertainment to utilities. The program has been running for decades and provides exceptional value for retirees.
Who It's For
Retirees with lifetime pension income of at least $1,000/month, or $750/month combined with $100,000 property ownership in Panama. Social Security recipients, military retirees, government pensioners, and those with qualifying private pensions all qualify.
Requirements
Required Documents
- Valid passport
- Authenticated pension letter stating LIFETIME income
- Police clearance from last country of residence
- Health certificate
- Passport photos
- Proof of Social Security or pension
Application Process
- 1
Hire Panamanian immigration attorney
All visa applications must be filed through a licensed Panamanian attorney. Direct filing is not permitted.
- 2
Gather and authenticate documents
Obtain pension letter explicitly stating lifetime income, police clearance, and health certificate. All documents must be apostilled.
- 3
Submit application
Attorney submits application to Servicio Nacional de Migración with all required documents.
- 4
Await processing
Processing takes 3-6 months. You may need to provide additional documentation during this period.
- 5
Receive permanent residency
Upon approval, you receive immediate permanent residency status with full Pensionado benefits.
Path Forward
Path to Permanent Residency
Grants immediate permanent residency upon approval.
Path to Citizenship
Citizenship eligibility after 5 years of continuous permanent residency. Requires Spanish proficiency and knowledge of Panamanian history. While oath requires renouncing other citizenships, U.S. does not recognize foreign renunciation oaths—Americans effectively maintain dual citizenship.
Tips
- Get pension letter explicitly stating LIFETIME income
- Ensure apostilles are recent (within 3-6 months)
- Budget for full legal fees upfront
- Pensionado discounts include 50% off entertainment/hotels Mon-Thu, 25% off restaurants/airlines/utilities, 20% off medical services
- Can import car duty-free every 2 years
- Can import household goods up to $10,000 tax-free
Common Mistakes
- Pension letter missing "lifetime" language
- Expired apostilles on documents
- Private pension documentation lacking proof of permanence
- Not using licensed Panamanian attorney
- Incomplete documentation causing delays
DIY vs. Hiring a Lawyer
Attorney required - direct filing not permitted in Panama. All visa applications must go through a licensed Panamanian immigration attorney. Budget $1,200-2,000 for legal fees.
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