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🇵🇦 Panama

Pensionado (Retirement) Visa

Panama's world-renowned retirement visa program, consistently rated as best retirement program globally. Requires only $1,000/month pension or lifetime income ($250 per dependent). Grants IMMEDIATE permanent residency (no provisional period). No age limit - open to retirees of any age with qualifying income. Famous "Pensionado Benefits" include 50% off entertainment, 25% off restaurants, 20% off medical consultations, 15% off hospital bills, and more. 97% approval rate with nearly 2,000 granted in 2024. Processing 2-4 months, total costs only $2,400-2,800. After 5 years, eligible for citizenship. Can include spouse and dependents. Must prove lifetime income source (pension, Social Security, annuity, trust distributions).

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Processing Time

2-4 months

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Cost

$2,400-2,800 total including legal and government fees

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Duration

Immediate permanent residency

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Work Rights

Can work but pensionado benefits focused on retirees

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Path to Permanent Residence

Yes

Requirements

  • 1$1,000/month minimum pension or lifetime income
  • 2+$250/month for each dependent
  • 3Proof of lifetime income (pension statement, Social Security, annuity)
  • 4No age restrictions
  • 5Valid passport (6+ months validity)
  • 6Clean criminal background check (apostilled)
  • 7Health certificate
  • 8Licensed Panamanian attorney required

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