Panama Pensionado visa requirements
Panama's retirement visa, the Pensionado, gives permanent residency to anyone with a pension of $1,000 a month paid for life, whatever their nationality.
What the law asks for, what the government charges, and the discounts that come with it. Checked against Panama's official sources on Oct 7, 2026.
- Minimum income
- $1,000/mo A pension paid for life, by a foreign government, an international organisation or a private company, such as US Social Security, the UK State Pension or Canada's CPP. Decreto Ejecutivo 320 (2008); Panamá Digital. Checked Oct 7, 2026.
- Alternative
- $750/mo If you own property in Panama worth over $100,000. Decreto Ejecutivo 320 (2008); Panamá Digital. Checked Oct 7, 2026.
- Residency
- Permanent from the start Decreto Ejecutivo 320 (2008); Panamá Digital. Checked Oct 7, 2026.
- Government fees
- $1,050 Application fee and Repatriation deposit. Decreto Ley 3 (2008). Checked Oct 7, 2026.
- Per dependent
- $250 For each dependent, paid to the National Migration Service. Decreto Ejecutivo 320 (2008). Checked Oct 7, 2026.
- Lawyer
- Required Decreto Ley 3 (2008); Panamá Digital. Checked Oct 7, 2026.
Who qualifies for the Pensionado visa
Most Americans and other retirees move to Panama on the Pensionado visa: permanent residency from the start for anyone with a pension paid for life. Savings, investment income and withdrawals from a retirement account (a 401(k), IRA, RRSP or personal pension pot) do not count unless they are turned into a pension paid for life.
You need $1,000 a month: a pension paid for life, by a foreign government, an international organisation or a private company, such as US Social Security, the UK State Pension or Canada's CPP. If you own property in Panama worth over $100,000, the minimum is $750.
Married couples may add their two pensions together to reach the amount.
Pensionado visa documents
Every residence permit
- Copy of your passport, certified by a Panamanian notary or by your consulate
- Criminal record certificate from your country of origin or residence
- Health certificate from a licensed professional, issued within 3 months before you apply
- Sworn statement of personal background
- Payment of the application fee and the repatriation deposit
Decreto Ley 3 (2008). Checked Oct 7, 2026.
This visa
- Letter certifying your pension: the payer confirms at least $1,000 a month, paid for life
- Public Registry certificate of your Panamanian property, if you use the $750 route
- For a private pension: a letter from the pension, trust, fund, insurance or bank company confirming the funds for a lifetime pension, proof the company exists, and a payment receipt or bank statement
- For permanence: a national tax clearance certificate (paz y salvo)
Decreto Ejecutivo 320 (2008). Checked Oct 7, 2026.
Every document issued outside Panama must be legalized: an apostille if your country belongs to the Hague Apostille Convention, otherwise legalization through Panama's consulate. Ask your lawyer whether a document must also be translated.
Pensionado visa fees
| Application fee, paid to the National Treasury | $250 |
| Repatriation deposit, paid to the National Migration Service | $800 |
| For each dependent, paid to the National Migration Service | $250 |
Decreto Ley 3 (2008); Decreto Ejecutivo 320 (2008). Checked Oct 7, 2026. Lawyer and agency fees are not set by law; ask for a fixed written quote.
How the application runs
- Gather documents at homeCriminal record certificate and pension letter, each legalized (apostille).
- Hire a Panamanian lawyerThe law requires one; you sign a power of attorney.
- Health certificateFrom a licensed professional, no more than 3 months before filing.
- File and payYour lawyer files with the National Migration Service and pays the fees.
- Permanent residencyGranted as permanent residence; later, the tax clearance certificate for permanence.
Pensionado discounts in Panama
| Medical consultations, general and specialist | 20% |
| Dental and optometry services | 15% |
| Private hospital and clinic bills, if you have no hospitalization insurance | 15% |
| Prescription medicines at pharmacies | 10% |
| Hotels, Monday to Thursday | 50% |
| Hotels, Friday to Sunday | 30% |
| Restaurant meals (individual consumption) | 25% |
| Fast food chains | 15% |
| Flights on national and foreign airlines | 25% |
| Intercity buses, trains and boats | 30% |
Law 6 of 1987 gives these to all pensioners and retirees in Panama, and to residents from age 55 (women) or 60 (men). Ley 6 (1987). Checked Oct 7, 2026.
Spouses and children
Married couples may add their two pensions together to reach the amount. Dependent children get a temporary permit until 25 if they are studying full time; they do not get permanent residency or pensionado status, unless they have a proven severe disability.
Decreto Ejecutivo 320 (2008). Checked Oct 7, 2026.
Other ways to live in Panama
Qualified Investor
$500,000 invested in real estate, Panamanian securities or a local bank deposit. A reduced $300,000 real estate threshold applied until Oct 15, 2024. ProPanamá states approval in 30 working days.
ProPanamá; Decreto Ejecutivo 109 (2022). Checked Oct 7, 2026.
Friendly Nations
A job in Panama or a real estate investment. Since 2021 granted only for work or real estate. Government fees $5,000 to the National Treasury and $5,000 to the National Migration Service.
Decreto Ejecutivo 197 (2021). Checked Oct 7, 2026.
Pensionado visa questions
Can I qualify on a state pension alone?
Yes, if it pays at least $1,000 a month. A state pension such as US Social Security or the UK State Pension is a pension from a foreign government paid for life, which is what the rule asks for. Living comfortably usually takes more than the minimum.
Do withdrawals from a 401(k), IRA or pension pot count?
Only if they are paid for life, as an annuity. Regular withdrawals from a retirement account or savings do not count, however large the balance, because the law asks for a pension granted for life.
How much does a married couple need?
Together, $1,000 a month: couples may add their two pensions to reach the amount, and each pension then has to meet the same documentation rules. The $250 per dependent is a fee paid to the migration service, not extra income.
Can I start the application from home?
You gather the documents in your own country: the criminal record certificate and the pension letter, each legalized (an apostille in Hague Convention countries). The application itself is filed in Panama by a Panamanian lawyer acting for you, because the law requires a legal representative.
Do I need the background check before I apply?
Yes. A criminal record certificate from your country of origin or residence is one of the documents filed with the application, so you get it, and its apostille, first.
Can a medical condition disqualify me?
The law asks for a health certificate from a licensed professional, issued within 3 months before you apply. The decree that sets the Pensionado rules does not list conditions that disqualify an applicant.
