“Kathleen, I regularly read your letters and learn a lot. I have a question about residency in Panama. I am 72-years-old and desire to move to Panama on pensionado residency. What minimum duration do you have to stay in Panama in a year once you have gotten pensionado residency?
“How much money you have to bring yearly from your country of residence?
“And can you have Panamanian corporation and earn money from another country like Ecuador (I am planning a farm operation in Ecuador)?
“Thank you very much if you have time to answer my question.”
–Ashok V., United States
Pensionado residency in Panama requires only that you be in the country once every two years to maintain your status. While you have to show a minimum monthly income to qualify for the pensionado visa, you do not have to transfer any minimum amount into the country each year.
You could use a Panama corporation to hold your Ecuador farm, but that may not be the most effective option for you. You would need to discuss this with an attorney from your home country and another in Ecuador.
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