| Panama offers a multitude of programs enabling one | | | | The following are the benefits and privileges for all |
| to fairly easily obtain a Passport, Visa, Residency and | | | | those classified as Jubilados & Pensionados |
| Citizenship. Panama is an excellent place for a second | | | | (irregardless of age) and for all other residents of |
| passport (2nd passport). The plans are outlined below. | | | | Panama be they Panamañian or foreign nationals |
| Do feel free to ask questions. We do not advise | | | | residing in Panama in their 3rd and 4th Ages. It sets the |
| attempting to deal with the immigration authorities | | | | age at 55 for women and 60 for men. Law No. 6 of |
| without adequate legal representation by a competent | | | | 16 of June 1987, modified by subsequent changes in |
| attorney. | | | | the law by Law 18 of 1989, Law 15 of 1992, Law 37 of |
| Warning: All of our passport programs require you to | | | | 2001 and Law 14 of 2003. (As a matter of practicality |
| be physically present at the immigration department for | | | | most establishments will offer the Pensionado |
| fingerprinting and photographing. These are NOT the | | | | discounts to anyone who has the Pensionado id |
| "Pay someone off in the dark" programs you see on | | | | irrespective of their age. Some people are retired at |
| the internet which do not require you to go to the | | | | an earlier age.) |
| country physically and come with a passport, identity | | | | SUMMARY IN ENGLISH OF BENEFITS AND |
| card and driver's license. There are numerous stories | | | | DISCOUNTS: |
| on the internet if you look for them of people getting | | | | Article I |
| arrested all over the world when they attempt to | | | | To receive these benefits, it sets the age at 55 for |
| travel on these passports. What is often done is | | | | women and 60 for men for all residents of Panama |
| passport blanks that come back from the | | | | be they Panamañians or of different nationalities |
| manufacturer slightly defective (bad printing, stitching | | | | irregardless of age. And it states that all Jubilados and |
| etc.) are marked as not usable by the government and | | | | Pensionados (irregardless of age) are also entitled to |
| are then sold by unscrupulous immigration officials | | | | these benefits: |
| through third parties. The problem is when the country | | | | 1. Discount of 50% of price charged for entrance to |
| that issued those does an audit of their immigration | | | | recreation and entertainment activities, such as movies, |
| department they pick these things up and then the | | | | theaters, sports and other public productions. This |
| passports are flagged as fraudulent or stolen and this | | | | discount is not applicable for those events marked as |
| is sitting in some unfortunate person's wallet waiting to | | | | benefits for the youth, homeless or those specifically |
| be used and can cause a police detention with likely | | | | authorized by the competent authorities. |
| arrest to follow. There was just a raid recently in | | | | 2. Discounts for the following means of public |
| Guyana and the corrupt immigration officials there | | | | transportation: |
| were issuing hundreds of passports daily. Now along | | | | * Inter-Urban buses, 30% |
| comes some guy who bought one of these "officially | | | | * Trains, 30% |
| issued" passports and he goes through immigration in | | | | * Launches and boats, 30% |
| say the EU. Well he doesn't appear to be a Guyana | | | | * 25% discount in air fares in public and private national |
| type so they query around a bit and he gets arrested. | | | | and foreign Airlines. |
| Months after the scandal we still see Guyana | | | | 3. A minimum discount of the regular prices of hotels, |
| Passports being sold on the internet which makes one | | | | motels and pensions: |
| wonder. | | | | 1. 50% from Monday to Thursday |
| We even see Diplomatic passports being sold on the | | | | 2. 30% on Friday, Saturday and Sunday |
| internet for $50,000 and up. This is ridiculous. What the | | | | 3. 25% discount of food consumed by the individual in |
| buyers are not aware of is in almost all countries travel | | | | all restaurants except for the Fondas which do not |
| using a Diplomatic passport requires a visa so the | | | | require license to operate. |
| country you intend to visit will require you to physically | | | | 4. 15% discount in those rapid food establishments. |
| submit the diplomatic passport to their embassy for a | | | | 5. 15% discount in the total cost for services of |
| visa which will involve scrutiny. So when they contact | | | | hospitals and private clinics. |
| the diplomatic passport issuing government to verify | | | | 6. 10% discount in pharmacies for those medications |
| the purpose of your visit, duration, whether or not you | | | | obtained with a medical prescription. |
| will be attached to the embassy, etc. what do you | | | | 1. Discounts in the following medical services: |
| think is going to happen? Do you think the issuing | | | | 1. 20% in consultation fees of general medicine doctors |
| government is going to provide official documentation | | | | and medical and surgical specialists. |
| for all of your journeys? Do you think they will even | | | | 2. 15% for dental services. |
| know who you are? They will most likely remain non | | | | 3. 15% for optometry |
| responsive and your passport will probably never be | | | | 2. Insurance companies that include in their policies |
| returned as a best case scenario but this would most | | | | health benefits for illness shall adjust their fees to |
| likely be followed by a knock at the door shake you up | | | | include the necessary adjustment so that the benefits |
| or arrest you visit by some authorities depending on | | | | of these discounts are transferred in the payment of |
| where you live, admittedly some countries will not care | | | | the premiums when the insured is 55 years old if |
| what you did but others that are terrorist sensitive will | | | | female, and 60 years old if male and to the |
| get really interested in you and your whole life and you | | | | Pensionados & Jubilados. |
| should expect to be added into the watch/stop list | | | | 3. 20% discount for technical and professional services. |
| making airport travel a nightmare for the next ten or | | | | 4. 20% discount for all prosthetic devices as well as |
| twenty years. The government that issued this | | | | those items and accessories of personal assistance. |
| diplomatic passport may also contact you after they | | | | 5. 50% discount in cost of passports. |
| get contacted for a $10,000 bribe or they will make | | | | 6. 25% discount in monthly electrical consumption of |
| trouble for you and on it goes. Remember why do you | | | | private or public entity up to 600KW's and the normal |
| see Nigerian Scam Emails - because they work. There | | | | tariffs will be applied to anything above that amount. |
| are a lot of stupid people out there so don't be one of | | | | 7. Discuss discounts to properties owned by |
| them. | | | | associations of jubilados and pensionados and the |
| How can you tell if a second passport or residency | | | | different discounts they are entitled. |
| citizenship program is real? | | | | 8. 25% discount to the basic phone service charges |
| Be careful when buying a second passport (2nd | | | | when: |
| passport). First thing to look for is the statues in the | | | | 1. the phone service is in the name of the individual |
| law that contain the laws spelling out the program you | | | | 2. is for a residential phone |
| are considering. If there are no statues run the other | | | | 3. is for one and only one phone. The normal tariffs will |
| way. If you are told about a special program not for | | | | apply for anything more. |
| everyone, run. | | | | 9. 25% discount in the water bill as long as: |
| Next make sure when buying a second passport (2nd | | | | 1. the consumption does not exceed $30.00 |
| passport) you will be going physically to the immigration | | | | 2. by bill is in the individuals name |
| department in the country for processing, photographs | | | | 3. the bill is residential and is the prime residence. The |
| and fingerprints. This will greatly cut down the odds of | | | | normal tariffs will apply to all other residences. |
| a scam. Normally the country will want to know who | | | | Private Income Retiree Visa (Rentista Retirado) |
| you are, and like to see and copy a valid passport as | | | | This visa is for persons who don't have a monthly |
| a minimum. If the deal is you give them pictures and | | | | pension, are no longer working, and have received a |
| they send you the documents run away, this is | | | | retirement lump sum. As a visa requirement, that |
| probably a scam involving a counterfeit passport blank | | | | money is to be deposited on a five-year certificate of |
| or a stolen one. I have even heard of them applying | | | | deposit with the National Bank of Panama, to yield at |
| for passports in the name of a dead person using your | | | | least $750 a month (at current rates the face value of |
| picture. What if he was a dead criminal with warrants | | | | the CD would need to be approximately $175,000). |
| outstanding? | | | | The visa is renewable every five years, as long as the |
| When buying a second passport (2nd passport) never | | | | CD is renewed. The Private Income Retiree Visa |
| agree to get a name change and a second passport | | | | includes such benefits as a traveling Panamanian |
| all in one shot unless it involves court appearances for | | | | passport (that however does NOT grant nationality), a |
| the name change. If not this probably involves a | | | | one-time exemption of duties for the importation of |
| corrupt government official and will surely be trouble. If | | | | household goods (up to $10,000), and an exemption |
| you do a name change in court in some jurisdiction | | | | every two years of duties for the importation of a car. |
| make sure it is not public record or it is greatly | | | | Person of Means Visa (Solvencia Económica |
| diminished in value. Never carry two different | | | | Propia) |
| passports with your picture in both that have different | | | | Designed for those who wish to live in Panama off |
| names unless you enjoy being detained at airports, | | | | their own means, without the need or desire to work |
| border crossings etc. A lot of scams involve a story | | | | or start a business. The person must have a one-year |
| that goes like this; Ok Mr. Gringo you want the | | | | certificate of deposit in any local bank of at least |
| passport to be able to travel and open bank accounts | | | | $200,000. $80,000 of the $200,000 can be in the form |
| and not as a citizen of the USA, EU, Canada etc. Ok | | | | of a home purchase. Upon applying for the first, |
| well it is best to do so using a name that sounds like | | | | provisional renewal of this visa, the certificate of |
| someone's name in our country, here let me suggest | | | | deposit must also be renewed for one more year. |
| this name: Enrique Haeverra. Hey that sounds great | | | | After renewal, the visa is granted permanently with the |
| you say. Now what you don't know is they got | | | | right to a cedula (local identity card). Five years after |
| Enrique's name off of a tombstone and they are going | | | | obtaining the permanent visa, holders will be eligible to |
| to identity theft the dead guy for you. This will probably | | | | apply for Panamanian nationality. |
| blow up when a cross reference is made or | | | | Investor Visa (Inversionista) |
| something causes a record check like you trying to | | | | Designed for those who wish to establish a business in |
| enter the country some day and then you are in for it. | | | | Panama (note, though, that some retail businesses and |
| Remember you don't talk, look, act or have a story like | | | | some professions are reserved to Panamanians). |
| someone from their country should. Some jerk criminal | | | | There must be a minimum investment of $150,000 and |
| buys such a passport and then gets caught doing | | | | minimum of three, permanent Panamanian employees |
| something no regular person would do like money | | | | hired. It is granted provisionally for one year and after |
| laundering 25 million dollars and then they pull his | | | | renewal is granted permanently with the right to be |
| papers, scrutinize them, see the fraud and the pull all | | | | issued a cedula. Five years after obtaining the |
| the fraud papers of the corrupt official who signed the | | | | permanent visa, holders will be eligible to apply for |
| bad guys papers and then start canceling all the | | | | Panamanian nationality. |
| passports this corrupt official processed illegally for | | | | Small Business Investor Visa |
| fraud, theft, corruption or just to shake you down for | | | | (Inversionista de Pequeña Empresa) |
| money for playing games with their country and of | | | | Designed for those who wish to establish a small |
| course you better believe they are going to think you | | | | business in Panama (note that retail businesses and |
| are a millionaire. | | | | some professions are reserved to Panamanians). |
| Another scam is selling second passports (2nd | | | | There must be a minimum investment of $40,000 and |
| passport) from non-existent or non-recognized | | | | minimum of three permanent Panamanian employees |
| countries. This is done a lot usually for $1000-$2000. | | | | hired. It is granted provisionally for one year, and needs |
| There are very few countries who will ever accept | | | | to be renewed three more times before it is granted |
| these passports and then usually only at border | | | | permanently with the right to a cedula. Five years after |
| crossings. Usage is hit or miss, mostly misses. People | | | | obtaining the permanent visa, holders will be eligible to |
| buy these to open bank accounts with offshore. This | | | | obtain Panamanian nationality. |
| sometimes works but usually in small countries with | | | | Self Economic Solvency Visa |
| small banks. The problem comes when the bank | | | | Law Number 16, of June 30, 1960 created this program |
| examiner looks over their files and sees one of the | | | | to offer international investors the opportunity to obtain |
| fantasia passports as an identity document. He hits the | | | | legal residency, citizenship (and passport) in Panama |
| roof and says I want to see real passports for all | | | | through certain investments in the Republic of Panama. |
| these people in here in 30 days or lock down these | | | | The Self-Economic Solvency Visa offers three (3) |
| accounts. Now what do you do? | | | | different investment options to qualify for residency |
| Below you can read about all the Panama Passport, | | | | status in the Republic of Panama; |
| Residency and Citizenship programs that are all in the | | | | Agricultural Investor Visa |
| Panama Laws. | | | | Law number 16 of 1960 created this program ("Visa en |
| Immediate Panama Passport | | | | Calidad de Agricultor") as a means to offer foreigners |
| This program allows foreigners to obtain immediate | | | | the opportunity to become permanent residents and |
| Panamanian Passport (there is no citizenship that goes | | | | citizens in Panama by investing in farms and agriculture |
| with this) under the condition that they make a 5 year | | | | in the Republic of Panama. |
| certificate of deposit (CD), at the Banco Nacional de | | | | Small Business Investor Program |
| Panama (Panama's Government Bank), which earns a | | | | This program allows foreign business owners to obtain |
| minimum of US $750 per month in interest income | | | | legal residency in Panama under the condition that they |
| which currently requires about $175,000 to be | | | | invest a minimum of US$40,000 in either a new |
| deposited. This is a relatively simple, direct program. A | | | | business venture, or an established company in |
| visit to Panama is required. One must already have a | | | | Panama. Part of the requirement is that the business |
| valid passport that enables them to come into | | | | must employ at least 3 Panamanian employees paying |
| Panama. Getting your Passport in 30 days from time | | | | them at least minimum wage, with social security |
| of completion of all required documentation is possible | | | | benefits. |
| but time frames vary according to workload, holidays | | | | Tax Free Processing Zone Investor Progam |
| etc. The visa and passport is renewable every five | | | | This program allows foreign investors to obtain legal |
| years, which requires the CD to be renewed. | | | | residency in Panama under the condition that they |
| The Tourist Pensioner Visa (Turista Pensionado) | | | | must rent a plot of land or an office or building (rented |
| This visa is designed for persons whose pension from | | | | through a 10 to 20 year concession) within one of the |
| a government entity or private corporation is $500 or | | | | new tax free processing zones in Panama, for the |
| more ($600 or more for a couple per month). You will | | | | purpose of operating a business from Panama that |
| have to prove this under scrutiny. Usually a pension | | | | exports its products or services. |
| statement from the government or private pension will | | | | City of Knowledge Work Visa Program |
| suffice but backup bank deposit records could not hurt. | | | | This program allows foreign investors to obtain up to 5 |
| The Pensionado Visa is granted indefinitely but it is | | | | work visas (valid for an initial term of 2 years, and |
| necessary to prove to the Immigration Department on | | | | renewable for an additional 2 years) for their company |
| an annual basis that the income is still flowing from | | | | in Panama under the condition that they must rent an |
| your pension. The benefits include one-time exemption | | | | office or building within the City of Knowledge of |
| of duties for the importation of household goods (up to | | | | Panama (located within the former Fort Clayton |
| $10,000) and an exemption every two years of duties | | | | military base), for the purpose of operating a business |
| for the importation of a car. There is also a basket of | | | | from Panama. |
| other benefits and discounts available to those holding | | | | Temporary Immigrant Visa |
| this Visa. However, please note that under this visa | | | | Student Visa |
| you cannot qualify to acquire Panamanian citizenship | | | | This program allows foreign students to obtain legal |
| or passport, but you do get a Cedulla (national identity | | | | residency in Panama under the condition that they will |
| card). This would greatly facilitate the opening of bank | | | | be living in Panama for educational purposes, such as |
| accounts, financing of real estate, cars, etc. Legal | | | | attending a Panamanian university, school, etc. |
| Details of the Pensionado Program follow: | | | | |