Calculate How Much It Will Cost To Move To Panama
Once you decide to permanently to Panama. You will evaluate many factors. The primary and most important factor aspect to evaluate when deciding to relocate to Panama is what will be your legal status. In short, how will you be able to stay in the country for the long term without breaking the countrys immigration laws?
The easiest and probably most used method of achieving this is by applying for what is called the "pensionado" visa program. All foreigners who receive a steady retirement pension or income from a government, development organization or private company and wish to reside in Panama, qualify for the program. The basic requirements are as follows: 1. Minimum monthly retirement income of at least $1,000 per month for the rest of the applicants life; or 2. Minimum monthly retirement income of $750 a month if the applicant invests in a property in Panama whose value is at least $100,000.
There are several firms in the country that can help you find the perfect Panama Real Estate proposition for your needs. The the steps include submission of the following documentation: - Certification of retirement and verification of pension amount. If this amount is perceived from a foreign company then further documentation is required. This includes a certification to be provided by the private company which validates the availability of the pensions annuity, a copy of the pension check, receipt or statement, and contact of the pension funds administrator of the company. - Should you have dependents, proof of income of up to $250 per dependant; Documentation or certification of the property purchased by the applicant from the Public Registry. Should a spouse also wish to move with you, then the income needs to be verified by both parties and as such the documentation must be provided for both applicants.
Having a pensioners visa in Panama also has many tax benefits, for example, you may import household goods for your residence free of tax up to $10,000, you also have the right to import a car every two years free of tax, and discounts at major food chains and services granted to senior citizens in Panama as per Law 6 of 1987.
This visa scheme is good for retirees who wish to reside in Panama as it provides several benefits to the applicants. The entire process is quite simple and may take between two to three months to process. It is one of the most economical ways to move to Panama. Typically, and depending on the complexity of the case, the legal costs range around $2,500 for this service.
Return on investment is immediate when moving to Panama. - 23159
The easiest and probably most used method of achieving this is by applying for what is called the "pensionado" visa program. All foreigners who receive a steady retirement pension or income from a government, development organization or private company and wish to reside in Panama, qualify for the program. The basic requirements are as follows: 1. Minimum monthly retirement income of at least $1,000 per month for the rest of the applicants life; or 2. Minimum monthly retirement income of $750 a month if the applicant invests in a property in Panama whose value is at least $100,000.
There are several firms in the country that can help you find the perfect Panama Real Estate proposition for your needs. The the steps include submission of the following documentation: - Certification of retirement and verification of pension amount. If this amount is perceived from a foreign company then further documentation is required. This includes a certification to be provided by the private company which validates the availability of the pensions annuity, a copy of the pension check, receipt or statement, and contact of the pension funds administrator of the company. - Should you have dependents, proof of income of up to $250 per dependant; Documentation or certification of the property purchased by the applicant from the Public Registry. Should a spouse also wish to move with you, then the income needs to be verified by both parties and as such the documentation must be provided for both applicants.
Having a pensioners visa in Panama also has many tax benefits, for example, you may import household goods for your residence free of tax up to $10,000, you also have the right to import a car every two years free of tax, and discounts at major food chains and services granted to senior citizens in Panama as per Law 6 of 1987.
This visa scheme is good for retirees who wish to reside in Panama as it provides several benefits to the applicants. The entire process is quite simple and may take between two to three months to process. It is one of the most economical ways to move to Panama. Typically, and depending on the complexity of the case, the legal costs range around $2,500 for this service.
Return on investment is immediate when moving to Panama. - 23159
About the Author:
Emergis Real Estate is a Panama professional services firm specializing in Panama Real Estate. Our innovative methodology allows for the profiling, scheduling and visiting properties available in Panama through cooperation with direct sellers and other stakeholders in the Panama Real Estate market. To learn more about Emergis Real Estate and moving to Panama please visit our website.
posted by X - Men @ 1:01 AM
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