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Pensionado conflicts

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Brad3927
  5/4/2017 16:31 EST

Hello. My family (wife and daughter) are giving serious thought to becoming experts in Panama. There are discrepancies between the three of us and the requirements and we're not sure if it can work for us.

1) My wife is old enough but hasn't yet started to draw Social Security. We could always buy a CD just long enough to show that she's making the necessary $1,000.

2) I am drawing Social Security with plenty to spare, but am not in my 60's yet.

3) Our daughter, 15, draws Mediad for a disability.

Is there anyway that we can all get on the system right away since each one of us is lacking in one requirement? Can we piggyback on one person if they qualify. They way I read it, a. CD will qualify my wife and my daughter will in 3 years. Am I out of luck because I'm so far away, age wise (50).?

Panama2017
  5/4/2017 16:39 EST

Brad3927, age is not a requirement for pensionado visa. Your wife and daughter would just become your dependents for visa purposes. But how are you drawing social security if you are not 62?

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ranadelnorte
  5/4/2017 16:59 EST

Agree with Panama2017 that age doesn't matter for the pensionado visa, and that your wife and daughter could come in as your dependents, providing your monthly income is high enough ($1,000 for you, plus $250 for each dependent when last I checked 3 years ago). All you need is the required monthly income, guaranteed FOR LIFE. This is usually a government pension such as SS. Therefore the idea of purchasing a CD for your wife won't work. Some annuities would qualify her. At this point you could consult a qualified and recommended Panamanian immigration attorney. The first consultation is always free.
Good luck!

Brad3927
  5/4/2017 17:01 EST

I draw disability Social Security SSDI for an injury that I sustained several years ago, It's a legitimate claim with a real injury and not some neck/back scam. Any private doctor will back me up.

lapapuja
  5/4/2017 17:09 EST

Brad, your income from SS sounds like it is enough to cover you, your wife and daughter. Get in touch with an immigration attorney to get the details on the pensionado visa.

Brad3927
  5/4/2017 17:15 EST

Normally you'd be right but I collect Social Security disability (SSDI) from an accident at work. It's a legitimate injury that keeps me from employment and not some back/neck injury scam and any doctor would attest to that.

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CPAQueen
  5/4/2017 17:29 EST

I don't think Brad can use Social Security Disability as "permanent income".

CPAQueen
  5/4/2017 17:42 EST

I would ask your attorney if SSDI is allowable as permanent income in Panama.

VisasPanama
  5/4/2017 21:01 EST

Hello, Mr. Brad3927,

We would like to assist you to understand the process of the Pensionado Visa.

Please, feel free to send us an email with your questions.

Thank you.

Joseph Isaza
www.Visas-Panama.com
Cell: + 507 6643-7000 (Wapp)
[email protected]

oscar76
  5/5/2017 01:05 EST

If the pensionada visa does not work for you, you could just apply for the friendly nations visa. No income required, just a bank account with 9000,- for 3 people. One applys and the other 2 are dependents.

lapapuja
  5/5/2017 12:53 EST

Of course he should check with an immigration attorney to make sure a person can still qualify with SSDI but people I know have used that as their pensionado income in the past.

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ranadelnorte
  5/5/2017 13:14 EST

My concern for Brad and his daughter would be qualifying for health insurance in Panama with what sound like serious pre-existing conditions. Without insurance, health care costs will be high.

Soontogo
  5/6/2017 12:48 EST

Hi Brad, I would check your SS benefits very carefully, in the UK all benefits cease except pension if you move to a different country. I have a small industrial injuries pension which will cease when I leave the uk

stgibson
  5/6/2017 16:06 EST

Try emailing the Federal Benefits Unit at the US Embassy in Panama. They may be able to answer your questions.
https://pa.usembassy.gov/

Debra730
  5/8/2017 06:39 EST

The required monthly income is $2000

Debra730
  5/8/2017 06:41 EST

You need your award letter to prove your income. A $1000 CD will not help you. I tried using my retirement investments last year as proof but it was not accepted

margaretljobe
  5/14/2017 02:25 EST

IF you are medically retired, which would explain you being on SS before age 62, then you may qualify for the pensionado status based on that and sufficient income. If you qualify, then your wife can be added as long as you have enough income to cover her as well. Your daughter would also qualify on her own if she is also medically disabled and draws enough in guaranteed benefits in her own right. The use of a CD to get your wife sufficient funds to be the primary would need to be a guaranteed lifetime income for her, not just until you are old enough to qualify if you don't have a disability and are just waiting until your age 60. You need a lawyer to work through this for you as it is much more complicated than you may think and unless you are familiar with the law and speak really fluent Spanish. If you are serious and want a referral to a lawyer, let me know or ask other expats who have gone through the process and were happy with their lawyer for a referral. Also note that there are other options for getting the right to reside here in Panama such as investing in a business, having a specified minimum in a Panama bank, etc. that may make more sense for you until you are old 60 or your wife has in fact a guaranteed income. And you don't have to have the Pensiondo status to live in Panama. You can be here for up to six months, leave the country for a few days and return for six more months for example. Not the ideal solution, but a solution. As a new expat who loves it here, I recommend you come to the country, look around, get an idea where you want to live and rent a house or apt for a year to see if you really like it here.

ranadelnorte
  5/14/2017 08:04 EST

@margaretljobe
The "permanent tourist" solution that you are suggesting (stay for 180 days, then leave for a brief period and reenter) is no longer possible. Panamanian immigration officials do not allow this option. You must stay out for at least 30 days before reentering.

panamajames
  5/15/2017 01:36 EST

This information is incorrect regarding coming here and staying for 6 months and then leaving for a few days. you now must leave for 30 days before you can return. many expats who were considered to be permanent tourists and leave every 3 to 6 months for a few days, are now leaving panama permanently because of the new 30 day ruling. http://www.newsroompanama.com/news/panama/tourist-tourist-not-resident-varela

dunnee
  5/17/2017 16:46 EST

Never move to Panama without a guaranteed certified income.
No need to shoot yourself in the foot at any age.
OK for now.
Cheers

MountainMike
  5/24/2017 01:25 EST

panamajames,
Thanks for that Panamanian law update! I have some acquaintances in Boquete that will be greatly affected by this ruling.

Time to "fish or cut bait"!
Mike

panamajames
  5/24/2017 11:45 EST

Fish or cut bait is right. The perpetual tourist was born around the time of the Jimmy Carter treaty with Panama in 2000, where Panama gained, and rightly so, complete control of the Panama Canal. 50,000 mostly Americans and soldiers who were living in the Canal Zone (Zonians) left Panama, and lots were born in Panama. Panama had to do some promotion to help this economic vacuum that had developed. Panama developed a Pensionado program. An American, Sam Taliaferro (his Panamanian name) in Boquete started up Valle Escondido for mainly English speaking expats. A good friend in the Pacific Northwest, Seattle, Panama Bill, introduced me to him, as Bill had just moved there.
Construction of the Valle Escondido Golf Spa & Resort started in 2001 and is credited as being the first residential project in Panama of its kind. It is known the world over as one of the best residential communities in Latin America and has been featured in many different international publications and television shows including Forbes Magazine and Home & Garden. Television’s House Hunters International featured Valle Escondido. Tourists found that they didn't have to pay lawyers $1200 to $1500 per person to become semi-permanent residents. They could just cross the border every 3 months and stay in Costa Rica for the weekend. 6 months if they didn't drive. Now with this 30 day law in effect, it makes it more difficult for the perpetual tourist to stay here in Panama. And of course, that is the point behind Varela's decision. I know a lady who ran a very successful B&B for 15 years, and travelled to Costa Rica every 90 days to reset her driver's license and passport. She just left the country as 30 days out of Panama will not work for her. Anyone want to buy a B&B? Perpetual tourism may be dead or dying, but we do seem to be getting more serious residents moving to Panama, bringing their bank accounts, and their families with them, and that seems to be what Varela wants to see happen, and he is increasing tourism as well. Perhaps not as much as Costa Rica always has or does, but have you seen the latest Panama tourism promotion? http://creativity-online.com/work/panama-tourism-authority-not-for-tourists--journey/51748

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