Individual Investor Visa vs Pensionado Visa
Residency program comparison: Brazil and Panama. Income, fees, tax, duration, work rights and pathways.
Overview
 BR
Individual Investor Visa
|
 PA
Pensionado Visa
|
|
|---|---|---|
| Country | Brazil | Panama |
| Program type | Investor visa | Retirement |
| Status | Active | Active |
At a glance
|
BR
Individual Investor Visa
|
PA
Pensionado Visa
|
|
|---|---|---|
| Initial duration | — | — |
| Monthly income | — | $1,000 / mo |
| Application fee | $34 | — |
| Tax regime | Worldwide | Territorial |
| Renewable | No | No |
Financial requirements
|
BR
Individual Investor Visa
|
PA
Pensionado Visa
|
|
|---|---|---|
| Monthly income | — | $1,000 / mo |
| Annual income | — | $12,000 |
| Monthly pension | — | $1,000 / mo |
| Application fee | $34 | — |
| Government contribution | — | — |
| Dependent fee | $34 | — |
Duration and renewal
|
BR
Individual Investor Visa
|
PA
Pensionado Visa
|
|
|---|---|---|
| Initial duration | — | — |
| Renewable | No | No |
| Minimum stay | — | 1 days |
Tax regime
|
BR
Individual Investor Visa
|
PA
Pensionado Visa
|
|
|---|---|---|
| Tax regime | Worldwide | Territorial |
| Tax regime name | Worldwide income tax once tax resident (184 days) | Territorial tax system |
| Foreign income taxed | Yes | No |
| Capital gains taxed | Yes | Yes |
Work rights
|
BR
Individual Investor Visa
|
PA
Pensionado Visa
|
|
|---|---|---|
| Employed work | No | No |
| Self-employed work | Yes | No |
| Own business | Yes | Yes |
| Work permit included | No | No |
Requirements
|
BR
Individual Investor Visa
|
PA
Pensionado Visa
|
|
|---|---|---|
| Criminal record check | Not required | Required |
| Health check | Not required | Required |
| Degree | Not required | Not required |
| Professional experience | Not required | Not required |
| Language (for citizenship) | Required | Required |
Family and dependents
|
BR
Individual Investor Visa
|
PA
Pensionado Visa
|
|
|---|---|---|
| Dependents allowed | Yes | Yes |
| Spouse included | Yes | Yes |
| Maximum child age | — | 25 |
| Dependent parents | Yes | No |
| Income per dependent | — | $250 |
Pathways
|
BR
Individual Investor Visa
|
PA
Pensionado Visa
|
|
|---|---|---|
| Path to permanent residency | Yes | Yes |
| Path to citizenship | Yes(4 yrs) | Yes(5 yrs) |
| Grants direct citizenship | No | No |
| Dual citizenship allowed | Yes | No |
Benefits
|
BR
Individual Investor Visa
|
PA
Pensionado Visa
|
|
|---|---|---|
| Schengen access | No | No |
| Open a bank account | Yes | Yes |
| Buy property | Yes | Yes |
| Public healthcare access | Yes | Yes |
| Health insurance | Not required | Not required |
Application
|
BR
Individual Investor Visa
|
PA
Pensionado Visa
|
|
|---|---|---|
| Method | Online, in person | In country, consulate, agent |
| Processing time | ?–180 days | — |
| Apply from abroad | Yes | Yes |
| Local representative | Required | Required |