Is it necessary for foreign retirees to get pension from a government institution in their home country in order to qualify for visas targeted towards foreign retirees? What if I just want to rely on my lifelong savings?
Panama offers several residency options, the most popular being the Retiree Visa, the Self Solvency Visa or the Forestry Visa. A new option for wealthy applicants is the Qualified Investor Visa, which can be approved within 30 days from the application, and is considered a red carpet visa.
A foreigner retiree may apply and achieve permanent residence in Panama, so long as he or she can provide proof of a lifetime retirement pension equivalent to US$1000 or above. This retirement pension may be granted either by a government institution or from a private company; rules and requirements may vary depending on the type of retirement.
Permanent resident retiree visa applies to those individuals with foreign pension or retirement benefits, received by a foreign government, an international organization or a private company, and have sufficient funds to cover all living expenses in the country. The monthly pension shall not be less than one thousand dollars (US$1,000.00) and must be granted for a lifetime. If you want to rely on your lifelong savings, then you can apply for an investor visa. There are several options, from 100k to 300k investment.
There is the Jubilado/Pensionado retirees visa, which is a special application that offers retirees discounts in the country. The retirees pension can be either from the government or from private institutions. One cannot rely on lifelong savings; that is just for making an investment in Panama.
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