Minimum income
$1,000/mo
per month
Stay
—
Application fee
$250
Tax
Territorial
Territorial Tax System
Path to staying
- Permanent residencypossible
- Citizenshipafter 5 years
- Permanent residency
- Citizenship 5 years
- Dual citizenship allowed
- Language required for citizenship
Overview
- Country
- Panama
- Program
- Pensionado Visa
- Local name
- Visa de Pensionado
- Type
- Retirement
- Status
- Active
- Min stay
- 1 days per 24 months
One of the world's most popular retirement visas, granting immediate permanent residency to retirees with a guaranteed pension of at least $1,000/month. Extensive retiree discounts on utilities, transport, entertainment, and medical care.
Financial requirements
- Income requirement
- $1,000/mo
- Pension requirement
- $1,000/mo
- Application fee
- $250
Eligibility
- Minimum age 18+
- Criminal record check required
- Health check required
- Health insurance not required
Work rights
- Employment not allowed
- Self-employment not allowed
- Own a business allowed
- Work permit included no
Family and dependents
- Dependents allowed
- Yes
- Spouse included
- Yes
- Max child age
- 18
- Parents allowed
- No
- Extra per dependent
- $250
Benefits and mobility
- Bank account can open
- Property purchase allowed
- Public healthcare access granted
Tax
- Tax regime
- Territorial
- Regime name
- Territorial Tax System
- Foreign income taxed
- No
- Capital gains taxed
- No
How to apply
- Method
- in person
- Processing time
- 30–90 days
- Apply from abroad
- No
- Local representative
- Required
Notes
Income requirement reduces to $750/month with a $100,000+ property purchase in Panama. Pension must be guaranteed and lifetime (government, military, corporate, or annuity). Extensive retiree discounts: 50% off entertainment, 30% bus/train, 25% utilities, 15% hospital bills, 10% prescriptions. No work permitted but can own companies and receive passive income. Spanish and civics test required for citizenship.
Also in Panama
Panama also offers a digital nomad visa for remote workers