Lifetime Residence in Panama for Retirees
If you are retired or a pensioner in your country, you qualify for a LIFETIME RESIDENCE IN PANAMA with a PANAMANIAN ID and multiple benefits.
We are a law firm in Panama City with more than 20 years of experience guiding international clients in the correct positioning of their global and digital businesses. We have strategic alliances with law firms and licensed accountants in the United States to cover the formation of your LLC in due form and based on law, with a convenience tax treatment, as a non-resident LLC owner.
Lifetime Residency in Panama for Retirees
If you are retired or receive a pension in your country, you qualify for a LIFETIME RESIDENCY IN PANAMA with PANAMANIAN IDENTITY CARD and multiple benefits. According to Panama's National Immigration Service, there is no minimum or maximum age to qualify under this modality, you only need to prove your retired or pensioner status in your country to obtain all the benefits.
About the entity that retires you
Panamanian immigration law allows you to apply as a retiree or pensioner of a public entity in your country. These entities can be: "Social Security Funds" or "Public Pension Funds"; as well as public administrative entities such as "Public Universities, Ministries, State Enterprises or similar", as long as you receive a pension or retirement "for life"."
LLC legal Fact!
In summary, registering an LLC in the United States is one of the best options for your international and digital business due to asset protection, management flexibility, minimal requirements, international banking access, favorable taxation, and global prestige.
LLC Turnkey Solution
Included in the company's cost, in addition to all corporate documents:
Your US EIN
A "Free Initial Tax Consultation" with a US-licensed accounting firm
Support on "opening a corporate account"
In Panama, the retiree is considered a: 'Superior Asset of the State...!'
Monthly Retirement Amount
The retiree or pensioner must receive a monthly amount of $1,000, at the official exchange rate of their currency. You can present this monthly retirement certification "in your currency," as the corresponding conversion to the dollar will be made in Panama.
TIMELINE FOR APPLYING FOR RETIREMENT RESIDENCY
Once your visa is approved, please plan to visit Panama for at least 2 weeks, as you must request the change of currency in your retirement letter, and prepare certain immigration forms in our office before applying. You must register before applying for residency, which takes at least 1 day, and our team will perform certain procedures (notaries, stamps, legalizations, medicals, etc.). In addition to the above, the retiree must leave their passport deposited in immigration for at least 2 days in order to obtain the "multiple exits" stamp from the country and thus avoid future fines.
LLC & BANKING
Banking Lobbies for LLCs
Bank Accounts for LLCs in North America
LLCs can open bank accounts in North America, but banks usually have strict requirements and regulations at the time of opening. Generally, corporate accounts cannot be opened remotely. The owner of the LLC must appear personally at the bank for this purpose.
Bank Accounts for LLCs in Panama
With an LLC, you can also open bank accounts in Panama, with similar due diligence requirements as US banks. Panamanian banks have similar policies, and the owner must also appear in person at the bank to fill out forms and conduct the interview with a bank officer.
Fintech Accounts for LLCs
On the other hand, opening an account with Fintechs is usually more straightforward; several options can be done remotely. The LLC owner can regularly use directly open with Fintech on platforms such as TransferWise, Payoneer, and similar.
Your global business goals are within reach! PGS Attorneys at Law can help you optimize your international business based on the reputation and acceptance of these legal forms with the USA's ultimate turnkey LLC formation solution.
If you need more information, please do not hesitate to contact us.
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The information provided in this website is for informational purposes only, is not meant to take the place of professional legal or accounting advice in the US, and is not a substitute for professional advice. Suppose you have any questions about this website and its content, by contacting PGS Attorneys, we encourage you to consult with the appropriate professionals and Accounting Law Firms duly recognized as Resident Agents in Florida, USA, to assist you.
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