PANAMA VISAS

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VISAS FOR PANAMA

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If you are entering Panama from the U.S., Canada or Britain, you only need your passport to stay for 30 days. You can extend your visit to 90 days through the Immigration Offices in Panama. There is a small fee for this extension. Also, it is written in Spanish, so it is advised that you bring someone with you who knows the language.

Contact your local Consulate for the latest information on Visas, as the rules change frequently, specifically regarding the 30-day Visa, which is due for an extension to 90-days via the Panamanian legislature.

The most attractive Visa offered by Panama is the “Pensionado” Visa, which is basically a lifetime Visa. There is a minimum age requirement to receive this, and there are other terms. They are:

Minimum age of 18.

Your monthly income, pension, Social Security benefits must be $750 if you are single, or $1,000 for a married couple, and bank statements must prove you have been receiving this for at least several months.

A police clearance.

Marriage certificate.

Birth certificates if you are bringing others into the country with you.

Your passport must be valid for at least six months after you apply.

Health certificate – delivered by a Panamanian doctor.

The application should be filed by a Panamanian attorney, in Panama.

The rewards are many when you are granted the “Pensionado” status, and include:

Discounts of 50% off the ticket price charged for movies, theaters and Panama sporting events like soccer, boxing, baseball etc.

30% Discount for City Buses, Panama Trains and Boats

25% on airfare if flight is in-country or if ticket purchased with COPA airlines in Panama.

Hotels discount 50% from Monday to Thursday and 30% on Friday, Saturday and Sunday.

25% discount of food eaten in a sit-down, inside restaurant.

15% discount in fast food establishments.

15% discount services in hospitals and private clinics.

10% discount for prescription medicines in pharmacies.

Discounts for the following medical services:

20% discount fees for medical doctors
15% for dentist fees.
15% for optometric examinations.
Health Insurance adjustments on fees for pensionados.
20% discount on any professional services utilized in Panama.
20% discount for all prosthetic devices.
50% discount on the price of a Panama passport.
25% discount on your electric bill up to 600KW's.
25% discount on basic residential phone service charges when the phone (one phone only)is registered in the name of the pensionado
25% discount on primary residential water bill if the bill is in the name of the pensionado and the monthly bill does not exceed $30.00
A pensionado can buy a car every two years free of import duty.
A pensionado can bring in $10,000 worth of personal goods one time with no import duty.

There are several other categories of Visas, some of which include:

The Retiree Visa:
If you are able to deposit an amount in a Panamanian bank that generates $750 per month in income, you can come into the country under the Retiree Visa.
Currently, a deposit of $100,000 will generate the approximate income. You do not need additional deposits to cover your spouse or children under the age of 18. If you leave Panama, your deposit will be returned without a fee being attached.

The Investment Visa:
If you create a corporation in Panama, you can apply for an Investment Visa. It will require a minimum of $10,000 invested in a Panamanian bank account plus corporate papers being filed by a Panamanian attorney.