Do I officially have to retire in my country to qualify for it, or is any regular income above $1,000 (unrelated to work activity/salary) accepted? Can I use my time deposit account for this purpose?
Answers
An official lifetime retirement or pension income from any country is required to apply for the Pensionado Visa. It is accepted only from government, recognized NGOs, or private licensed financial companies such as banks, insurers, mutual funds, trusts or pension management funds.
Regarding the Panama Pensionado Visa, you have to retire in your country to qualify for it, as the most important requirement is to have a retirement life pension. Nothing more is acceptable.
Yes, in order to qualify for a retiree residency permit, you must be receiving a lifetime pension either as a retiree or due to a permanent injury. Any other sort of income (salary, time deposits, etc.) won’t qualify an applicant for this particular residency permit.