Types of Visas in Panama

First, always remember that you have to consult a Panamanian lawyer when dealing with these kinds of applications. It would be a great hassle if you go through an application in which you know nothing about. Having a lawyer will cut down your processing time by almost 50 percent, because the attorney already has the know-how of the process itself. You can contact a Panamanian government agency for a referral to a licensed and competent lawyer.For visa applications in Panama, there is no limit in terms of age. However, the type of visa will depend on your age. If you are 18 years and older, you can have your very own visa, while for those under the required age, they can still qualify, but only as dependents of their parents.The documents that you procured from your homeland will have to go through the Panamanian consulate. It must be notarized first by an attorney to prove its authenticity. You can also avail of the Apostille. If you are not familiar with Apostille, it is actually borne out of The Hague Convention of 1961. This is considered the faster and better way of authenticating your documents. You can procure it at the Office the Secretary of State from your homeland (or equivalent). It would still pay off if you consult with the nearest Panamanian consulate.It is advisable to have presentable and fresh documents. It means that the documents must have been procured recently so as not to look very crumply when presented at the consulate. Also, make sure that the date of your passport expiration is not yet near – or about one and a half years left to go.As for your children or dependents, make sure that you procure your marriage certification. However, these original documents must have been procured within the two month period because the consul personnel will just reject your application if you don’t follow this basic guideline. The same goes for the birth certificates of your children.You and your dependents (if there’s any) will have to undergo medical check-up including HIV/AIDS test in Panama. You will then be given a health certificate which will become one of your supporting documents.Here are the types of Visa that you can acquire which serve as your way to Panama:Turista Pensionado or Tourist Pensioner VisaIf you have a monthly pension coming from a government agency or private company of $500 above, then you can avail of this visa. However, it will not be that easy since you’ll have to undergo serious scrutiny from the consulate. You will have to present bank statements to prove the availability of your funds. You may have to visit the immigration office annually in order to update the officials that you are still receiving the same amount monthly.As a holder of this visa, you will be entitled for the one-time exemption on paying the dues when you import household items. The limit has been set at $10,000. You will be granted two years worth of dues when you import a car. Other benefits will be outlined by the consulate. Don’t hesitate to ask questions. One more thing, once you have this visa, you can no longer apply for Panamanian nationality.Rentista Retirado or Private Income Retiree VisaThis is somewhat the opposite of tourist pensioner visa. This visa applies to people who don’t receive monthly pensions. As the name implies, it is application to people have retired from their profession and have received a lump sum pertaining to their retirement. In order to apply for this, the person needs to deposit the money through “certificate of deposit” (CD) at National Bank of Panama for a five-year period.You will need to deposit roughly $250,000 in order to get about $700 to $800 in interest every month. You can renew this visa after five years with the condition that you renew the CD as well.By having this visa, you can travel using the Panamanian passport, although it doesn’t guarantee that you will be granted nationality. You will still get exemptions in duties on imported items like household goods but the limit has been set as well.Solvencia Economica Propia or Person of MeansYou can get this kind of visa if you want to settle in Panama without any intention of starting your own business or working in a company. However, you must have a CD for one year in any of the Panamanian banks. The amount is set at a minimum rate of $200,000. The difference with the aforementioned visas is that you are qualified to apply for the Panama nationality after five years.Inversionista or Investor VisaYou can get this visa if you aim to set up a business here in Panama. However, the minimum investment has been set at $150,000 and you must also hire at least three Panamanian employees for the company. You are qualified to apply for the Panama nationality after five years.Inversionista de Pequeñas Empresa or Small Business InvestorYou can get this visa if you want to set up a small business here in Panama. Minimum investment fund has been set at $40,000 and with the condition that you hire three Panamanian employees in the company. You will need to renew for three more years before getting the right to apply for a Panamanian nationality which will entail another five years.Meanwhile, you can acquire the Immediate Panama Passport provided that you have a Banco Nacional de Panama certificate of deposit for five years. The monthly interest must be around $750 or above, so you need to deposit roughly $250,000.Self Economic Solvency VisaYou can apply for a Self Economic Solvency visa with a minimum investment of three hundred thousand US dollars in a bank account in Panama for three years. Alternatives to the requirements for the visa  of a self-solvency investor requires real estate, with no mortgage, and paid for at least three hundred thousand US dollars. Visa Pensionado (Pension)Last but not the least is the government’s implementation of the Pensionado (Pension) Program for foreign and local citizens. Accordingly, individuals who have reached certain age (Sixty for men and Fifty-five for women), can avail of discounts and benefits in selected establishment. Being a foreign pensioner, it seems like the best way to spend your free time.Here are a list of some of the discounts and benefits you may get (that is, if you are qualified for the program): • Public transportations (30 percent discount)• Entrance to recreational establishments like theaters and sporting events (up to fifty percent discount)• Air fairs (30 percent discount)• Hotel accommodations (up to 50 percent from Monday to Thursday, 30 percent on weekends)• Restaurants (15 to 25 percent discount)• Private clinics and hospital bills (15 percent off)• Medicines with prescriptions (10 percent off)• Medical services (15 to 20 percent discount)It is no wonder that Panama is a very-friendly country for retirees. They are very well taken cared off. Other Types of VisasForeign investors in Panama can get legal citizenship in the country. They have three options: Agricultural Investor, Small Business Investor and Tax Free Processing Zone Investor visas.Foreign retirees can now avail of permanent residency in the country provided that they have a pension from doing so. However, just like mentioned above, these individuals may need to present proof of funds of at least $500 per month in order to prove that they can still continue with their daily lives despite having no work anymore.On the other hand, the Panama government is also issuing temporary visas for interested individuals. These visas have varying expiration dates. Therefore, the recipients must also be aware when to renew their application.  The following visas are:• Temporary work Panama visa• Temporary immigrant • Student visa• Multiple exit and entry visa

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Types of Visas in Panama
Location: Panama
Language: English
Description: 

First, always remember that you have to consult a Panamanian lawyer when dealing with these kinds of applications. It would be a great hassle if you go through an application in which you know nothing about. Having a lawyer will cut down your processing time by almost 50 percent, because the attorney already has the know-how of the process itself. You can contact a Panamanian government agency for a referral to a licensed and competent lawyer.

For visa applications in Panama, there is no limit in terms of age. However, the type of visa will depend on your age. If you are 18 years and older, you can have your very own visa, while for those under the required age, they can still qualify, but only as dependents of their parents.

The documents that you procured from your homeland will have to go through the Panamanian consulate. It must be notarized first by an attorney to prove its authenticity. You can also avail of the Apostille. If you are not familiar with Apostille, it is actually borne out of The Hague Convention of 1961. This is considered the faster and better way of authenticating your documents. You can procure it at the Office the Secretary of State from your homeland (or equivalent). It would still pay off if you consult with the nearest Panamanian consulate.

It is advisable to have presentable and fresh documents. It means that the documents must have been procured recently so as not to look very crumply when presented at the consulate. Also, make sure that the date of your passport expiration is not yet near – or about one and a half years left to go.

As for your children or dependents, make sure that you procure your marriage certification. However, these original documents must have been procured within the two month period because the consul personnel will just reject your application if you don’t follow this basic guideline. The same goes for the birth certificates of your children.

You and your dependents (if there’s any) will have to undergo medical check-up including HIV/AIDS test in Panama. You will then be given a health certificate which will become one of your supporting documents.

Here are the types of Visa that you can acquire which serve as your way to Panama:


Turista Pensionado or Tourist Pensioner Visa
If you have a monthly pension coming from a government agency or private company of $500 above, then you can avail of this visa. However, it will not be that easy since you’ll have to undergo serious scrutiny from the consulate. You will have to present bank statements to prove the availability of your funds. You may have to visit the immigration office annually in order to update the officials that you are still receiving the same amount monthly.
As a holder of this visa, you will be entitled for the one-time exemption on paying the dues when you import household items. The limit has been set at $10,000. You will be granted two years worth of dues when you import a car. Other benefits will be outlined by the consulate. Don’t hesitate to ask questions. 
One more thing, once you have this visa, you can no longer apply for Panamanian nationality.


Rentista Retirado or Private Income Retiree Visa
This is somewhat the opposite of tourist pensioner visa. This visa applies to people who don’t receive monthly pensions. As the name implies, it is application to people have retired from their profession and have received a lump sum pertaining to their retirement. In order to apply for this, the person needs to deposit the money through “certificate of deposit” (CD) at National Bank of Panama for a five-year period.
You will need to deposit roughly $250,000 in order to get about $700 to $800 in interest every month. You can renew this visa after five years with the condition that you renew the CD as well.
By having this visa, you can travel using the Panamanian passport, although it doesn’t guarantee that you will be granted nationality. You will still get exemptions in duties on imported items like household goods but the limit has been set as well.
Solvencia Economica Propia or Person of Means
You can get this kind of visa if you want to settle in Panama without any intention of starting your own business or working in a company. However, you must have a CD for one year in any of the Panamanian banks. The amount is set at a minimum rate of $200,000. The difference with the aforementioned visas is that you are qualified to apply for the Panama nationality after five years.


Inversionista or Investor Visa
You can get this visa if you aim to set up a business here in Panama. However, the minimum investment has been set at $150,000 and you must also hire at least three Panamanian employees for the company. You are qualified to apply for the Panama nationality after five years.
Inversionista de Pequeñas Empresa or Small Business Investor
You can get this visa if you want to set up a small business here in Panama. Minimum investment fund has been set at $40,000 and with the condition that you hire three Panamanian employees in the company. You will need to renew for three more years before getting the right to apply for a Panamanian nationality which will entail another five years.
Meanwhile, you can acquire the Immediate Panama Passport provided that you have a Banco Nacional de Panama certificate of deposit for five years. The monthly interest must be around $750 or above, so you need to deposit roughly $250,000.


Self Economic Solvency Visa
You can apply for a Self Economic Solvency visa with a minimum investment of three hundred thousand US dollars in a bank account in Panama for three years. Alternatives to the requirements for the visa  of a self-solvency investor requires real estate, with no mortgage, and paid for at least three hundred thousand US dollars.

 
Visa Pensionado (Pension)
Last but not the least is the government’s implementation of the Pensionado (Pension) Program for foreign and local citizens. Accordingly, individuals who have reached certain age (Sixty for men and Fifty-five for women), can avail of discounts and benefits in selected establishment. Being a foreign pensioner, it seems like the best way to spend your free time.

Here are a list of some of the discounts and benefits you may get (that is, if you are qualified for the program): 
• Public transportations (30 percent discount)
• Entrance to recreational establishments like theaters and sporting events (up to fifty percent discount)
• Air fairs (30 percent discount)
• Hotel accommodations (up to 50 percent from Monday to Thursday, 30 percent on weekends)
• Restaurants (15 to 25 percent discount)
• Private clinics and hospital bills (15 percent off)
• Medicines with prescriptions (10 percent off)
• Medical services (15 to 20 percent discount)
It is no wonder that Panama is a very-friendly country for retirees. They are very well taken cared off.

 
Other Types of Visas
Foreign investors in Panama can get legal citizenship in the country. They have three options: Agricultural Investor, Small Business Investor and Tax Free Processing Zone Investor visas.
Foreign retirees can now avail of permanent residency in the country provided that they have a pension from doing so. However, just like mentioned above, these individuals may need to present proof of funds of at least $500 per month in order to prove that they can still continue with their daily lives despite having no work anymore.
On the other hand, the Panama government is also issuing temporary visas for interested individuals. These visas have varying expiration dates. Therefore, the recipients must also be aware when to renew their application.  The following visas are:
• Temporary work Panama visa
• Temporary immigrant 
• Student visa
• Multiple exit and entry visa

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Visas/Pensionado Visas/Retirement Visas