REPUBLIC OF PANAMA
MINISTRY OF PUBLIC SECURITY
NATIONAL MIGRATION SERVICE
REQUIREMENTS FOR RETIRED RENTIST (PPT-RR)
Article 196: “The temporary resident may request this permit as a retired rentier, the foreigner who enters the national territory and proves that he earns a monthly income of eight hundred and fifty balboas (850.00), which comes from exclusively from interest resulting from fixed-term deposits in the National Bank of Panama or the Savings Bank, and whose interest accrued as a result of this deposit, are free of liens or guarantees of any nature, for a minimum period of five (5) years.”
1. Power of Attorney (notarized) and Request. The power of attorney must contain the name and nationality of the applicant's parents.
2. Three (3) photographs.
3. Duly verified copy of the passport (Notarized or Authenticated corresponding).
4. Criminal Record Certificate.
5. Health Certificate.
6. Affidavit of Personal History Form.
7. Bank Certification from the National Bank of Panama or the Savings Bank, that certifies the amount of the fixed term, the interest it generates, the duration of the itself and is free of liens.
8. Copy authenticated by the bank of the fixed term certificate.
9. In case of dependents: The applicant of legal age and under 25 years of age must provide: - Letter of responsibility and Repatriation (Notarized). - Proof of relationship (birth or marriage certificate that demonstrate the link). - Proof of address - Certificate of single status and certification of studies.
Observation: Fixed-term withdrawal at any time after the first five (5) years and failure to comply with the terms established in Law No. 9 of 1987, This Decree Law and this regulation will cause the loss of incentives and rights granted by said Law.
EXTENSION OF RETIRED RENTIST (PPT-RR)
This Permit will be granted for a period of five (5) years, the which can be Extend for the same term, for which the foreigner must provide the requirements above, Panamanian passport with the exception of the Certificate of Background Penalties.
LEGAL BASIS: Political Constitution of the Republic of Panama, Law 9 of 24 of June 1987, Decree Law 3 of 22 of February 2008, Executive Decree No. 320 from 08 August 2008, Articles 196,197, 198 and 199 modified by Executive Decree No. 26 of 02 of March of 2009, Law 38 of 2000.