Income requirement

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  • March 23, 2014 at 8:37 pm #552862
    WILLIAM CLARK
    Participant

    I recently saw on a Panamanian government site that the income requirement for a retirement visa was $500 for an individual and $600 for a couple. Has this been recently lowered or is the web site out of date? Also,are there alternatives to a pension for this income? I was thinking of an annuity or something similar. My pension income is to small to qualify until I get Social Security. Thanks

    March 24, 2014 at 3:39 pm #552991
    COUNTRY EXPERT- JESSICA RAMESCH
    Participant

    Dear William,

    The income requirement was raised to $1000 in 2008 and has not been lowered, so it would seem the page in question was out of date. Unfortunately annuities do not qualify. However, you can qualify with a pension of only $750 if you buy a property in Panama (worth at least $100,000).

    You can read more about the current pensioner visa here: https://internationalliving.com/country_clubs/panama/visas-and-residence/ and if you have more in-depth questions you may also want to contact an attorney via contact details here: https://internationalliving.com/country_clubs/panama/rolodex/

    Hope this helps.

    Best,

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