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Visa of Temporary Resident as a Retired Legal Visa of Temporary Resident as a Retired Legal fundaments

Law Not9 of 24 of June of 1987 and the Decree
Executive Not62 of 4 of August of 1987.

Candidates:
Those foreigners who have a minimum rent of SEVEN HUNDRED AND FIFTY DOLLARS (USD$750.00) monthly, that exclusively comes from interest’s product of Deposits on a credit Fixed in the National Bank of Panama, by term of five years.
The applicant can bring his dependants. They are had as a :

  • Parents of the main applicant,
  • Spouse,
  • Smaller unmarried children of 18 years,
  • Older children of 18 years but smaller of 25 years and that in addition, regular they study, in an Educative Center recognized by the
    Ministry of Education, if unmarried and without children.

When being approved the request it grants the permission for five years prorrogables, a Membership card of Temporary Resident is sent to its favor and special a Panamanian Passport, by he himself term. The cost of both documents will be covered by the person interested. The retired will be able to invest money in the
National territory, previous fulfillment of the law requirements but no
will be able to work.

Requirements:

  • Provisional Id.
  • Medical certificate of Good Health sent within the three (3) months previous to the date of presentation. (It must have date, company’s signature and stamp with the name, code and record number of doctor).
  • Power of attorney at law and Request.
    • Power:
      • Complete Information of the person or people interested:
        • Name,
        • Nationality,
        • Exact address,
        • Name and Nationality of the parents,
        • Telephone numbers,
        • Email address.
      • General Information of the Lawyer
        • Office’s Address,
        • Fax and Telephone numbers,
        • Email address.
      • Tax stamp of value of USD$4.00 by page.
      • The Power will have to appear personally before the civil employee of the National Office of Migration and Naturalization or with Note of Personal Presentation before a Public Notary.
    • Request:
      • Complete and general information of the applicants and its dependants.
      • Complete and general information of the lawyer.
      • Complete and general information of the checks that are contributed:
        • Number of the Check,
        • Name of the Bank,
        • Date,
        • Amount.
      • List and identify the documents that are enclosed.
      • Expose the foundations in fact and of right. 
      • Tax stamp of value of USD$4.00 by page.
  • Background Record of the country of origin or the country where it has resided interested person the last two years. If the person interested has two or more years of continuous residence in Panama he is free to present this document.
  • Passport of the country of origin with a minimum validity of six months of each applicant.
  • Photocopy of the passport of each applicant.
  • Four (4) photos membership card size of each applicant.
  • Sworn declarationon of Personal Antecedents.
  • Certificate issued by the National Bank of Panama where credit that the person interested happens a monthly minimum rent of b., originating exclusively of USD$750.00 interests product of Deposits on credit Fixed free of all burden or guarantee of anyone nature. The Term (s) Fixed (s) in mention must to be by a minimum term of five years.
  • Photocopy of the Certificate or Contract of the Fixed Term
    authenticated by the National Bank of Panama.
  • And an additional photocopy sample of all presented documents.