The applicants’ retirement income (or pension income) must be for life (through private company insurance licensed for pensions or public institutions for pensions - a government ) and must be a minimum of one thousand US Dollars (US$1,000) per month. If your lifetime pension income is less than $1,000 per month, but equal to or more than $750 per month, you may purchase any Panama real estate property with a value of at least $100,000, which reduces the lifetime monthly pension income requirement down to a minimum of $750. The Panama retirement visa applicants’ pension income must be proven by providing documentation such as a letter from the institution or company that pays the retirement or pension income. This certification must be notarized and authenticated by the Panamanian consulate nearest you (or by apostille).
What documents do I need to provide to prove a lifetime income for Panama’s pensionado visa application?
I want to know what kind of documents are acceptable as the proof of income for the pensionado visa application. I just inherited some money from my aunt, but I am not sure if it is enough to meet the requirements of a lifetime income stipulated by the rules of this visa.
To prove a lifetime income for Panama’s pensionado visa application, you must provide a vertification as a retired or pensioned by foreign government, international organizations or private companies, in which it is established that you receive a pension of not less than $1,000 USD per month. If the retirement or pension is from a private company, it must be provided, in addition to the above, the following: letter from a foreign company that manages pension, trust, mutual funds, insurance or banking, certifying that is authorized to manages funds for the company or the applicant; certification of existence and good standing of the company, which provides and manages the pension fund; copy of pay stub or bank statement. If you have not fulfilled the requirements, there are others types of visas, such as an investment visa for $80,000 or a friendly countries visa.
The pensioner's and retiree's visa requires a lifetime minimum income equivalent to $1,000 per month. The required documents are either an apostilled income letter from a government agency or international organization, and if the funds are from private investment, then it is acceptable if paid by a trust, mutual fund, bank or insurance company, proven apostilled letter of income is provided, along with an apostilled certificate of incorporation for the entity and slip of payment.
In order to apply for a resident permit as a foreign retiree, you must provide a document issued by a foreign government or company confirming you’re entitled and currently receiving a lifetime pension as a retiree, equivalent to $1,000 U.S. dollars per month or more. Unfortunately, inherited money will not qualify as such.