Most foreigners get Panama residency through one of three programs: the Pensionado visa (for retirees with a $1,000/month lifetime pension), the Friendly Nations visa (for citizens of ~50 countries, via a $200,000 property, a $200,000 bank deposit, or a Panamanian work contract), or the Qualified Investor visa (since September 2026: $300,000 in a new property or $500,000 in a resale property). Panama does not tax foreign-source income, and you do not need residency to buy property.
Compare the three routes
| Program | Best for | Key requirement | Timeline | Permanent residency |
|---|---|---|---|---|
| Pensionado | Retirees | Lifetime pension of $1,000/mo (+$250/dependent) | Weeks–months | Effectively permanent |
| Friendly Nations | Workers & investors from ~50 countries | $200k property OR $200k bank deposit (3-yr) OR Panama work contract | Provisional in days; permanent after 2 yrs | Yes, after 2 years |
| Qualified Investor | Higher-net-worth investors | $300k new-build or $500k resale property (since Sep 2026) | As fast as ~30 days | Immediate |
Pensionado visa (retirees)
Requires proof of a guaranteed lifetime pension of at least $1,000/month ($1,250 with a dependent). Beyond residency, Pensionado status grants legally mandated discounts: 25% off utilities and restaurant meals, 20% off medical bills, 50% off entertainment, and more — which materially lowers a retiree’s cost of living.
Friendly Nations visa
Open to citizens of roughly 50 countries (US, Canada, UK, most of the EU, Australia, Japan, and major Latin American nations). You qualify through one economic tie:
- Real estate — own Panamanian property valued at $200,000+ (can be financed locally).
- Bank deposit — a 3-year fixed-term deposit of $200,000+ in a Panamanian bank.
- Work contract — employment with a Panamanian company (MITRADEL work permit + registered labor contract).
Grants provisional residency quickly, permanent residency after two years, and covers spouse, children under 25, and parents. No annual minimum stay — just enter once every two years.
Qualified Investor visa (Golden Visa)
The fastest route to immediate permanent residency — as quick as ~30 days — via a qualifying real-estate investment. Since Executive Decree 17 took effect on 16 September 2026, the minimum is $300,000 for a new, first-sale property and $500,000 for a resale property. The bank-deposit route is $750,000 at a private bank or $500,000 at Banco Nacional or Caja de Ahorros, and the securities route is $500,000 (summary of Decree 17). If real estate is your route, see Buying Property in Panama.
Which one fits you?
- Retiring on a pension? → Pensionado, almost always.
- Working remotely or moving capital, from an eligible country? → Friendly Nations (deposit or property route).
- Investing at scale and want residency immediately? → Qualified Investor — move before the Oct 2026 threshold increase if real estate is your path.
Frequently asked questions
Do I need residency to buy property in Panama?
No. Foreigners can buy property with only a valid passport; residency is separate.
Does Panama tax my foreign income?
No. Panama uses a territorial tax system — foreign-source pensions, dividends, and capital gains are not taxed locally.
How long until I get permanent residency?
Qualified Investor is immediate; Friendly Nations grants it after two years; Pensionado provides effectively permanent status from approval.
Is the investor visa really going up to $500,000?
The $300,000 real-estate threshold is scheduled to rise to $500,000 after October 2026. Confirm current figures with a licensed immigration attorney before applying.
Immigration rules change; figures reflect mid-2026 published data and are reviewed quarterly. General information, not legal advice — consult a licensed Panamanian immigration attorney.
Sources
- Immigrant Invest — Living in Panama 2026
- Panama Legal Center — Friendly Nations Visa 2026
- Global Citizen Solutions — Friendly Nations Visa 2026
- Global Property Guide — Panama Buying Guide
All prices and other statistics are subject to changes beyond our control. We will try to update this information as often as possible. Refer to sources listed for more information.