´ó¿§¸£ÀûÓ°Ôº

Sunnymikkel wrote:

You say, we will have rental income, does the other person on the we have any SS. NO rental or investment income will count unless it is an annuity good for many years, like 20 plus. You could still come and end up as a perpetual tourist, making border runs every 90 days if you intend to have an automobile and drive. The tourist visa is good for 180 days, but your foreign DL is only good for 90 days.

LeftClique wrote:

Thank you, Sunnymikkel.  My wife won't be eligible for Social Security for several years, so the only pension we'll have is my $953.  I'll look into annuities and see what it takes to set one up to cover the difference.  One other question - does the $1,000 cover both of us, or do we need even more income?

Sunnymikkel wrote:

You say, we will have rental income, does the other person on the we have any SS. NO rental or investment income will count unless it is an annuity good for many years, like 20 plus. You could still come and end up as a perpetual tourist, making border runs every 90 days if you intend to have an automobile and drive. The tourist visa is good for 180 days, but your foreign DL is only good for 90 days.

You'll need an additional $250 for a total pension of $1,250 per month.

This article seemed current to me: 

SawMan wrote:

You'll need an additional $250 for a total pension of $1,250 per month.

This article seemed current to me: 

Thanks, Sawman.  I didn't expect to see anyone from the Ecuador forum over here.  I'm beginning to realize it's difficult to find out the exact legalities of retiring to ANY Central or South American country, because I've found all kinds of conflicting information.  We're getting close to making a decision and are re-thinking our options.  We thought someplace nearer the USA might make more sense, but we'll have to skip Panama if there isn't another way to meet the income requirement.   

Should we ask a facilitator or lawyer?  Has anyone here used a Panamanian lawyer?  Any recommendations?

LeftClique wrote:

SawMan wrote:

You'll need an additional $250 for a total pension of $1,250 per month.

This article seemed current to me: 

Thanks, Sawman.  I didn't expect to see anyone from the Ecuador forum over here.  I'm beginning to realize it's difficult to find out the exact legalities of retiring to ANY Central or South American country, because I've found all kinds of conflicting information.  We're getting close to making a decision and are re-thinking our options.  We thought someplace nearer the USA might make more sense, but we'll have to skip Panama if there isn't another way to meet the income requirement.   

Should we ask a facilitator or lawyer?  Has anyone here used a Panamanian lawyer?  Any recommendations?

I'm no expert on any country, but have been to Panama quite a few times.  I have no idea where I'll end up.  But, I wouldn't worry about qualifying for the pensionado program.  Is leaving every 180 days all that burdensome?  In other words, your tourist visa is pretty good by itself.  You may want out more frequently than that!

SawMan wrote:

I wouldn't worry about qualifying for the pensionado program.  Is leaving every 180 days all that burdensome?  In other words, your tourist visa is pretty good by itself.  You may want out more frequently than that!

Thanks.  I spent some time looking at blogs and websites yesterday and it seems a lot of people are retired in Panama on tourist visas.  We'd heard the "border shuffle" was only semi-legal for Ecuador, but never checked on Panama.  The details are pretty murky, though.  Some say you drive to the border, step across, step back and - bingo - you get a new visa, but others say you have to stay out for two or three days.  Some say you have to have to leave every 90 days, some say 180.  Anyway, I think it could work!

SovereignLady wrote:

For a couple, the income requirements for the Pensionado visa for a couple are $1250 per month  in lifetime income.  If your Social Security check is not that much, you have 2 choices.  (1) buy an annuity that will make up the difference.  It must be a lifetime annunity.
but the better choice would be to get the Friendly Nations visa instead.  It has no income requirements.  You will need to open a Panama bank accout with $7500 deposited.  As soon as you get your temporary visa you can start spending the $7500. 

You will still get the pensionado discounts if you meet the minimum age requirements which are 55 for a woman and 60 for a man. 

With the Friendly Nations Visa you can also start a business or work if you decide to do so.  You cannot work with the Pensionado visa.