Panama is one of the world's favorite places to retire: it uses the US dollar, has excellent flight connections, quality health care and a retiree benefits program known throughout the region. The most common way in is the Pensionado Visa, a residency designed for people who receive a lifetime pension.
What is the Pensionado Visa?
It is a permanent residency category for foreign retirees and pensioners. There is no minimum age and it is not limited to certain nationalities: what matters is that you receive a lifetime pension that meets the minimum amount. You can see every residency option on our Panama immigration services page.
How much does your pension need to be?
Income requirement
- At least USD 1,000 a month in lifetime pension for the main applicant.
- An extra USD 250 a month for each dependent you include (spouse or children).
- There is a lower-income option (USD 750 a month) if you also own real estate in Panama worth at least USD 100,000. We review it with you case by case.
The pension can come from a public source (social security, military, government or an international organization) or a private one (pension fund, company or insurer). The key is that it is for life: annuities with an end date do not qualify.
Documents usually required
- Valid passport.
- Apostilled pension certificate stating the monthly amount and that it is for life.
- Apostilled criminal background check from your country of residence.
- Health certificate, obtained in Panama.
- Passport-size photos.
- Power of attorney for the lawyer filing your application (we prepare it).
- If you include family: apostilled marriage and birth certificates.
Documents in other languages must be translated into Spanish by an authorized public translator. The exact list depends on your country, so we confirm it with you at the start, with apostille and translation instructions.
Benefits of being a pensionado in Panama
- Permanent residency from approval, without going through temporary residency first.
- Your family can come with you: your spouse and dependent children can be included in the same application.
- Retiree discounts (Law 6 of 1987) on entertainment, restaurants, hotels, airfare, transport, doctor visits and medicine, among others. They apply according to the age and conditions set by law.
- Import duty exemption on your household goods, within the limits set by law.
What to know before you apply
- This visa does not allow you to work as an employee in Panama.
- Much of the preparation is done remotely, but you must travel to Panama to file the application and register, and later to pick up your ID card.
- Immigration requirements can change; we always confirm them with you before starting.
Step by step
- Initial consultation by Zoom or WhatsApp to confirm your pension qualifies.
- Document checklist with apostille and translation instructions for your country.
- File preparation: we review every document and prepare the application and power of attorney.
- Filing with Panama's National Immigration Service, where we accompany you that day.
- Follow-up on your file until the decision, keeping you informed of every step.
- Resident card and cédula E: we stay with you until you have them in hand.
Timing depends on Immigration and the time of year. In your consultation we give you a realistic estimate for your case.
Common mistakes that delay the process
- A pension letter that does not say the income is for life or does not show the monthly amount.
- Apostilling too late: some documents, such as the background check, are only valid for a limited time.
- Traveling to Panama before the file is complete and reviewed.
- Forgetting the dependents' documents and needing a second process.
This article is for information only and does not replace personalized legal advice. Immigration requirements can change; we confirm them with you when your process starts.