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Panama Pensionado visa, interview with an expert
We at Mundo love Panama for many reasons. This country has the peculiarity of presenting a variety of visa permits with straightforward processes and relatively low fees. There is almost an opportunity for every person in the world to acquire residency and permanent residency in Panama. We have recently contacted a lawyer expert in Panamanian visa programs, and he has agreed to an interview with us on one of the most interesting ones: the pensionado visa.
Contrary to what you may expect, the pensionado visa has no age restrictions and any person of any nationality and age can apply. However, it presents very special benefits for retirees, especially those from the US and Western Europe.
I invite you to read our interview with our expert in order to find out the advantages of the pensionado visa.
Dear Ernesto, thank you for being with us today. Can you please tell us about your firm and your background?
We are a small family law firm but with the accumulated experience of being the third generation of lawyers in the family working together with those who founded the firm. Our legal team is composed of 7 lawyers with vast experience in all fields of the law.
About the pensionado visa, who can apply?
Everyone that receives a fixed and permanent monthly income from any government or private pension fund, regardless of age, but with a minimum income of $1000.00 monthly.
As far as I understand, people of any age can apply, however this visa does not allow for a work permit. Can you explain further?
In Panama the work permits are tied to the type of visa that the person has. The pensionado visa is not considered a work visa because it´s intended for people who has ended their working life, i.e., pensioners. For this reason, the pensionado visa does not allow for a working permit. Which means it is not the best choice for younger people who have the possibility of applying to other programs.
So, why is this visa so convenient for retirees? What kind of lifestyle can they expect to have in Panama?
Medical services are a lot less expensive than in the United States and, in general, in Panama they will find all the services and conveniences that they can find in their home countries at a fraction of the cost. They can also find friendly people, business opportunities, a big expat community and exuberant landscapes.
Can you please tell us about the discounts for pensioners in Panama?
The Law # 6 of 1987 established a series of discounts for all pensioners living in Panama in the acquisition of multiple products and services like restaurants, medical services, medicines, hospitals, hotels, public services, theaters, transportation, banking loans and more. These discounts vary from 15% to 50% depending on the product or service.
For more information on the available discounts and the requirements for the pensionado visa, please visit this article.
In your years working with this visa, have you ever been rejected? What facts or actions can lead to a rejection?
No, this type of visa has no complicated requirements but not complying with them can lead to a rejection.
Would you recommend the pensionado visa to, let’s say, a 20-30-year-old?
If the person has no intentions of finding a formal job in the short term and can comply with all the requirements it could be an easy and excellent solution for his o her migratory situation. Please note that in Panama at any time you can renounce your visa in order to change to another type of immigration status.
If your situation has changed and you require or want another kind of visa for working, business or family reasons, the change of visa is a possibility.
Why would you recommend the pensionado visa and Panama in general as a relocation and retirement place?
As I mentioned before the pensionado visa is one of the easiest visas to obtain and provides the person applying to it with an almost instant permanent residence here in Panama. Also, Panama is a small but modern country, with very short distances between one type of environment to another, that offers a lot of business and living options either in or outside the city. In Panama you can live in a skyscraper, in a house at the beach or in a calm community in the mountains.
Our expert offers immigration services with the pensionado visa and other types of visas in Panama. This is an excellent opportunity to apply because the visa programs are still available, but they can be closed at any moment. In times of crisis, it is important to have a place to go, a small country with an active economy like Panama is a great opportunity which may not be open forever. Contact our experts and apply now.
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