What Are the Minimum Requirements For Retiree Visas in Central American Countries?

The closest and most convenient countries forfollowing:
retirement for U.S. citizens are in Central America andBelize: Minimum age of 45 and retiree can be from
the Caribbean. Five of these Central Americananywhere in the world. A minimum pension or annuity
countries; Belize, Costa Rica, Honduras, Nicaragua, &of $2,000 per month generated outside of Belize is
Panama receive the most attention as attractiverequired.
retirement destinations. Being aware of their minimumCosta Rica: As of March 1, 2010, the minimum monthly
requirements for retiring can aid you in determining theincome for pensionado visas increased from $600 per
feasibility of each as a personal retirement destination.month to $1000 per month. Continued receipt of this
I am purposefully omitting information on the other twoincome must be documented each year. Once
Central American countries; El Salvador andapproved, resident agrees to live in Costa Rica for at
Guatemala, as they do not for various reasonsleast 121 days (4 months) per year. The days do not
presently rank very high on any list of recommendedhave to be consecutive.
retirement destinations.Honduras: Applicant must prove a pension of at least
The retiree visa generally applies to any person who$600 per month and the pensioner has to live in
has retired from his usual occupation and is receivingHonduras for four months of the year to retain the
pension benefits as a result. This may include socialclassification.
security benefits and/or company retirement benefits.Nicaragua: The minimum age to apply is 45 years of
The income must be permanent and consistent.age. Applicants must prove an income of $600 per
In Belize the applicant becomes a Qualified Retiredmonth if on a pension or $750 a month if income is
Person (QRP) upon approval. In The other countries,from a private source. This income needs to be
the Spanish term "pensionado" (retiree) visa ispermanent and provable for five years, the length of
generally used and the retiree becomes a pensionista.the right to residency under this visa. There are
The minimum requirements for receiving a retiree visaexemptions on the legal age if retired for medical
in each of these countries have a lot of overlap but allreasons or if the private income is easily proven.
of them require certain basic documents. The officialPanama: The minimum pension (government or
language of Belize is English. Spanish is spoken in theprivate) required is $1000 per month for a single
other four countries.person, or $1250 for a married couple. Each additional
Each country has more requirements than we willdependent requires another $250 per month. Annual
discuss here, but these basic requirements will permitdocumentation of continued income required. Once
you to see if you meet the minimum requirements. Ifapproved a pensionado visa holder is allowed to stay
you don't meet the minimum requirements thein Panama 365 days a year. The only minimum stay
additional requirements are irrelevant.requirement is that you visit Panama at least once
Common documents required by all these countriesevery 2 years. It is considered a type of permanent
include:resident visa and carries with it many legally defined
financial benefits.
1. A birth certificateThe basic information given here should provide
2. Marriage Certificate (If applying as a couple)enough details to let you know if you could possibly
3. Police Records or Police Reportqualify for retiree status in one of these Central
4. Health Certificate and/or Medical Exam)American countries. Further details are easily obtained
5. Photocopies of Applicant's Passportonce you have narrowed your choices of prospective
6. Passport Style Photos (Number varies by country)retirement destinations. Be aware that today's
7. Proof of Income - Certified Statement from Sourcerequirements may change and you should always
of Incomecheck for the latest requirements.
Some specific requirements by country include the