Pensionado Visa

[MANDI H.]

I am thinking of retiring to Panama and
the pensionado Visa looks very interesting for obvious reasons.
I have no problem investing the required amount to lower the monthly income requirement
My situation would still be $50 short of the required pension BUT
I have rental income and also investment incomes.
Is there a way that I can apply this towards the pensionado visa?

Thanks

[COUNTRY EXPERT – LINDA CARD]

Hi Claudia- thanks for your excellent question.
The pensionado visa in Panama offers many benefits. You have obviously done some research, as you point out that a real estate investment may offset the required monthly income limit.

Here in Panama the immigration laws are quite fixed, with little wiggle room. Your rental and investment income might not be accepted toward meeting the pensionado income requirement. I have a friend in a similar situation and her application was denied. The reason is that your rental and investment income could change at any time, and the Panamanian government wants to know that your monthly income is basically guaranteed for life.

Nevertheless, it’s worth investigating and there are other visa options that may be open to you. Consulting with a knowledgeable Immigration attorney here in Panama may be your next step. We refer our readers to The Law Offices of Rainelda Mata-Kelly for assistance with legal matters. Here’s the contact info for you:

Suite 406-407, Tower B, Torres de las Americas
Punta Pacifica, Panama City, Panama
Local tel: +(507) 216-9299
From the U.S. or Canada tel: (011 507) 216-9299
Email: rmk@mata-kelly.com
Website: http://www.mata-kelly.com

Feel free to contact her directly with your question. Good luck!

[MANDI H.]

Thank you Linda and Jessica

yes, I read about the property investment of $100.000 to lower my monthly requirement.
I am still a few dollars short and was hoping that there may be a loophole like me setting up some kind of fund that pays me the needed balance of $50 indefinitely
I guess I will go to Panama to explore and take it from there
in the “worst” scenario I would apply for one of the other visa options

Best,
Claudia

[JESSICA RAMESCH]

In that case, Claudia, please do contact a Panama lawyer as soon as possible, to discuss your pension and the new Friends of Panama visa (the Friends of Panama option may not be around indefinitely so do check it out sooner rather than later).

Don’t wait until you are actually in Panama to contact a lawyer and learn more about these. Often you can save yourself time and money by knowing before you go. 🙂

Best,
Jessica

[Janet Moore]

Is there an age requirement for the Pensionado Visa? I am living on disability of $2,100 per month. Would I qualify at 52?

[JESSICA RAMESCH]

Dear _______?

There is no age requirement, if you have a verifiable pension, government or corporate, you may apply. All applications for under-age (under retirement age) candidates are reviewed on a case-by-case basis.

Regards,

Jessica Ramesch
Panama Editor
International Living

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