Anyone out there that has applied or is applying for their Pensionado Visa been told that income from your 401K retirement fund is not eligible to be considered as monthly income? Rather bothersome news that I just was told that may cause a serious adjustment to my relocation plans. Another option may be the friendly nations visa? Any thoughts or suggestions?
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Thanks everyone for the advice, good stuff! If anyone has had good experience with a local attorney concerning visa's I would really appreciate the recommendations.
Ditto that. I used her back in 2012. Immigration is her specialty and she knows it forwards and backwards. Just gather the info she needs in a timely manner and let it roll.
Juan Contreras in Boquete. Office building before the bridge. Friendly nations visa is possible.
Juan speaks fluent English.
Agree, Juan is the best and will go the extra mile to help
Juan didn't respond to my very time sensitive emails. I guess he was too busy.
I retired early in 2010 in my 40s so a long way from my pensions and SS so I attempted to use an annuity for the pensionado visa. My attorney said they were no longer accepting annuities, only pensions and SS like Judy stated. I evaluated Uruguay and Mexico, they allow the use of annuities for retirement visas.
Thankfully the Friendly Nations visa was introduced in 2012, it's what I ended up using, it was easy.
What about buying an annuity with some of your 401k funds?
You have to have a steady income from a pension or SS. A 401K isn't like that. There are other types of visas that don't depend on income, including visas based on investment in Panama real estate. Do some research online about types of visas and talk to a lawyer. Check out the Friendly Nations visa. That is a newer type that many people are getting.
Agree with both replies above.
Taklk to a Lawyer! There are ways to prove that these are acceptable. Although the paper work is very onerous. If you have an 401K Why no SS Verification of Benefits Letter? Not there yet by age?