Retire in Panama: the Pensionado visa
Panama gives retirees with a lifetime pension permanent residency and a set of legal discounts on daily life. It is one of the most accessible retirement residencies in the world. Details below were checked in October 2026; rules and fees change, so we confirm them before you apply.
The short version
Income
A guaranteed, lifetime pension of at least $1,000 a month. It drops to $750 a month if you own Panamanian real estate in your own name valued above $100,000.
Residency
Permanent residency, not a temporary permit. There is no minimum age for the visa itself, and no investment is required.
Family
Each dependent adds $250 a month to the income you must show. Spouses may combine qualifying pensions to reach the minimum.
Cost
Roughly $3,000 to $6,000 for a single applicant all in, including the lawyer. Treat this as an estimate; the exact total depends on your documents and country.
Who qualifies
Pension sources and documents.
Qualifying pensions
Paid by a foreign government (such as US Social Security or a military or civil-service pension), an international organization, or a private company or annuity. Private pensions need extra proof of the payer and of past payments. Panama wants it to be paid for life.
Documents
Valid passport; letter certifying your lifetime pension and its monthly amount; criminal background certificate; health certificate from a Panama-licensed doctor; sworn personal declaration; passport photos; marriage and birth certificates for dependents; and proof of property if you use the $750 option.
Foreign paperwork
Documents from your home country must be apostilled or authenticated, and anything not in Spanish needs an official translation.
How it works
A Panama immigration lawyer files the application.
- Check eligibility. We review your pension and family situation before you spend anything.
- Prepare documents at home. The background check, apostilles and translations take the longest; allow weeks.
- Visit Panama. Your lawyer files with the National Immigration Service. You give biometrics and get the medical certificate on this trip.
- Wait for approval. One guide reports 3 to 6 months. You do not have to stay in Panama while you wait.
- Collect your residency card when it is ready.
Typical costs
Estimates from published guides, 2026.
| Item | Approximate cost |
|---|---|
| Immigration lawyer, one applicant | $1,300 and up; guides report a wide range |
| Each dependent, lawyer fee | About $1,000 |
| Government and processing fees | From about $500 per applicant |
| Apostilles, background check, translations | Depends on your country and number of documents |
| All in, single applicant | About $3,000 to $6,000 |
Discounts for jubilados
Panama's pensioner law, in daily use.
Retired and pensioned residents, Panamanian or foreign, are entitled to legal discounts. They generally apply to women from 55 and men from 60. You show your cédula or pensioner card. Utility discounts are requested from the provider.
| Category | Discount |
|---|---|
| Cinemas, theaters, concerts, cultural events | 50% |
| Hotels | 50% Monday to Thursday, 30% weekends |
| Restaurants / fast food | 25% / 15% |
| Intercity bus, boat and train / airline tickets | 30% / 25% |
| Medical and surgical fees | 20% |
| Medications | 20% |
| Private hospital stays, dental, optometry | 15% |
| Electricity, water and home phone (up to set limits) | 25% |
| Loan closing costs / mortgage interest | 50% off fees / at least 1% lower rate |
| Passport and airport tax | 50% |
Sources disagree on a few figures, such as hospital and medication percentages, and some businesses apply them unevenly. We confirm current rates for you.
Other benefits and rules
Duty-free imports
A one-time customs exemption on household goods up to $10,000, and duty-free import of one vehicle every two years, subject to customs rules.
Working
The visa does not allow you to work for a Panamanian employer or sell services locally. Remote work for foreign employers is a gray area, so ask a lawyer.
Staying residency
Residency can be lost if you are out of Panama for more than two consecutive years, so plan at least a visit each year.
Citizenship
After five years of permanent residency you may be eligible to apply for Panamanian citizenship. Dual citizenship is generally allowed.
How we help
Eligibility review and planning
We confirm your pension qualifies and map out your documents before you spend money.
Where to live and what to buy
If you want the $750 property option, or simply a home, Richard is a licensed Panama realtor.
Introductions
To the immigration lawyers who file the application, plus banks, healthcare and trusted local services.
This page is general information, not legal advice. Biz Panama is not an immigration law firm; the application is filed by a licensed Panama attorney. Sources: Relofirm, ExpatDen and La Estrella de Panamá (April 2026), checked October 2026.