$1,000
Minimum lifetime pension per month
$750
Minimum pension if you own property over $100,000
$250
Extra monthly income per dependant
No age limit
No minimum retirement age to apply
What the Pensionado visa is
A residency permit for people who receive a lifetime pension, with no investment required.
The Pensionado visa (in Spanish, residente permanente en calidad de jubilado o pensionado) is a residency category run by Panama's National Immigration Service (Servicio Nacional de Migración). It rests on Law 9 of 1987, Decree-Law 3 of 2008 and Executive Decree 320 of 2008. It is open to foreigners who receive a retirement pension or annuity for life from a foreign government, an international organisation or a private company.
According to the official requirements sheet, the permit is granted indefinitely and does not need to be renewed. The retiree discounts that made Panama famous among retirees also come with the status once you hold your residency card.
Panama Properties is a real estate brokerage, not a law firm, and we are not immigration attorneys. This page is a plain-language overview as of October 2026. Your application must be filed by a licensed Panamanian attorney, so please confirm every detail with an immigration attorney before you act.
Who qualifies
These are the figures in the immigration service's published requirements, as of October 2026.
Standard route
A lifetime pension of at least $1,000 a month, or the equivalent in another currency.
Spouses may combine their pensions to reach the minimum.
Pension plus property
The minimum drops to $750 a month if you personally own real estate in Panama worth more than $100,000.
You show this with a Public Registry certificate for the property.
Private pensions
Company pensions and annuities can qualify.
You also need a letter from the fund administrator, proof that the paying company is in good standing, and a recent payment receipt or bank statement.
Bringing your family
Spouse and children
Dependants can be included in your application. For each dependant you must show an extra $250 a month, either through an additional pension or a reference from a local bank.
Children over 18 can stay as dependants until age 25 while studying full time. They receive a temporary permit rather than permanent residency. Children with a certified profound disability are an exception.
Parents and others
Other relatives may be possible in some cases, but the rules are narrower and change from time to time.
If you plan to bring a parent or an adult child who is not a student, raise it with your immigration attorney at the very start, before you gather documents.
Documents you will need
The immigration service lists the following. Your attorney will give you the final checklist and tell you how recent each document must be.
Power of attorney and application, notarised, naming your parents and their nationality
Certified copy of your full passport
Criminal record certificate from your home country (for example, an RCMP check for Canadians or an FBI check for Americans)
Health certificate, usually issued by a doctor in Panama
Sworn declaration of personal background (a standard form)
Letter from your pension provider confirming a lifetime monthly pension
Proof of the extra $250 a month for each dependant
Public Registry certificate, if you use the $750 plus property route
Three passport-style photos, plus marriage and birth certificates for dependants
Documents issued abroad generally need an apostille (or consular authentication) and a certified Spanish translation done in Panama. Start with the pension letter and police record, as they usually take longest to obtain and apostille.
Process, timeline and costs
1. Prepare at home
Gather and apostille your pension letter, police record, and civil documents. Choose a Panamanian immigration attorney and agree on the fee in writing.
2. File in Panama
You must be in Panama for the filing. Your attorney submits the application to the immigration service, and you have your photo and fingerprints taken. You receive a temporary (provisional) card that lets you stay while the file is reviewed.
3. Approval and permanent card
Once approved, you return to collect your permanent resident card. Many retirees then apply for a Panamanian cédula (ID number for foreigners), which makes banking and daily life easier.
Processing commonly takes a few months, but it varies with workload and how complete your file is. Ask your attorney for a current estimate.
What it costs
You will pay government fees, a multiple-entry visa, document costs and translations, plus your attorney's professional fee. Fees change, so ask your attorney for an itemised quote as of the date you apply.
The pensionado discounts
Panama's retiree discounts are set by law (Law 6 of 1987 and later amendments). These are the percentages as commonly published in 2026; some have conditions.
Leisure and dining
Cinemas, theatres, concerts and cultural events: 50%
Restaurants: 25%
Fast food: 15%
Hotels and travel
Hotels: 50% Monday to Thursday, 30% at weekends
Inter-city bus transport: 30%
Airline tickets: 25%
Health
Doctors' consultations and surgery: 20%
Prescription medicines: 20%
Private hospital stays: 15%
Dental and optometry: 15%
Utilities
Electricity: 25% (up to a set level of use)
Water: 25%
Fixed home telephone: 25%
Ask each provider to apply these to your account.
Banking and other
Loan closing costs: 50%
A reduction on mortgage interest rates at local banks, as set by law
Funeral services: 20%
How to use them
Show your residency card or cédula and ask before you order or pay. Discounts generally do not stack with other promotions. If a business refuses, you can complain to ACODECO, the consumer protection authority.
Bringing your belongings and car
Pensionado status also includes an exemption from import duty on household goods and a vehicle for personal use. Published figures vary: retirees are commonly told the household goods exemption is up to about $10,000 and that a car can be imported duty free every two years. We have not been able to confirm the current limits from an official source, so treat them as a guide only.
Some practical points reported by relocation firms: the 7% ITBMS (sales tax) may still apply, shipments generally need to arrive within six months, you must usually be present for customs clearance, and if you later sell the car to someone without the exemption, the duty becomes payable. Confirm the current rules with your attorney and a licensed customs broker before you ship anything.
Pensionado vs. Friendly Nations and Qualified Investor
Pensionado
Based on income, not investment
$1,000 a month pension, or $750 with property over $100,000
Permanent from the outset, with the retiree discounts
Best for retirees with a steady lifetime pension
Property-based routes (as of Sept 2026)
Friendly Nations visa: for citizens of listed countries (including Canada, the US and the UK), with titled property from $200,000.
Qualified Investor visa: $300,000 in a first sale from a developer or $500,000 resale.
These suit buyers who are not yet retired or have no qualifying pension. Confirm with an immigration attorney. See our Residency by Investment guide.
How buying property fits in
You do not need to buy property to get the Pensionado visa. Many retirees rent first, apply, and buy once they know which area suits them. Property matters in two ways: it can lower your required pension to $750 a month, and it gives you a permanent home base.
If you plan to use the $750 route, note that the requirements refer to property you own personally. Ask your attorney whether a home held in a corporation or foundation counts before you decide how to take title.
When you buy with Panama Properties, you pay no agent commission. Buyers typically pay legal fees of about 1% to 1.5% plus small notary and Public Registry fees. The 2% transfer tax is customarily paid by the seller. Our Buyers Guide walks through each step, and Panama Relocation Information covers the wider move.
Planning to retire in Panama?
We help retirees find the right home in Pedasí, Boquete, Coronado, Panama City and beyond, at no commission to the buyer. Message us on WhatsApp at +507 6169-2453 or visit our office at Unit 1 Plaza Pedasí (Super Pedasí Plaza), Pedasí, Los Santos 7401.
Start the Buying Process and tell us your timeline and residency plans.
Frequently Asked Questions
Is there a minimum age for the Pensionado visa?
No. There is no minimum retirement age. You qualify on the basis of a lifetime pension, not your age.
Can I use Social Security or CPP as my pension?
Government pensions such as US Social Security or Canada's CPP and OAS are commonly used, as long as the letter shows a lifetime monthly amount that meets the minimum. Confirm with an immigration attorney.
Does the property for the $750 route have to be worth exactly $100,000?
The official requirement is property worth more than $100,000, owned personally and shown on a Public Registry certificate.
Is the Pensionado visa permanent?
Yes. The immigration service grants it for an indefinite period with no renewal. You receive a temporary card while your application is processed, then the permanent card once it is approved.
Can I work in Panama on a Pensionado visa?
The visa is a residency permit, not a work permit. If you want to work locally, ask your attorney about the separate rules.
Do the discounts apply to foreign residents?
Yes. Once you hold pensionado status and your card, the discounts set by law apply to you in the same way as to Panamanian retirees.
Can I apply from my home country?
No. The application is filed in Panama through a licensed Panamanian attorney, and you must be present for biometrics.
Does Panama Properties handle visa applications?
No. We are a buyer's brokerage, not immigration attorneys. We can introduce you to attorneys our clients have used and help you find a home that fits your residency plans.