Panama Pensionado Visa
Panama PAN
Last verified 2024-09-01Official source
Panama's Pensionado Visa grants immediate permanent residency to retirees who receive a lifetime pension of at least $1,000 per month from a recognised pension fund or annuity. It is one of the world's most popular retirement visas, combining a low income threshold, immediate PR, extensive retiree discounts (20–50% off on many services), and Panama's territorial tax system which exempts all foreign-source income from local taxation. Dual citizenship is permitted and naturalisation is available after five years.
Program Details
- Category
- Retirement
- Processing Time
- 3 months
- Application Fee
- $400
- Minimum Income
- $1,000/yr
- Minimum Investment
- N/A
- Family Included
- Spouse and dependent children may be included; each requires an additional $250/month of qualifying income above the $1,000 base
- Path to PR
- Yes — 0 years
- Path to Citizenship
- Yes — 5 years
- Physical Presence
- No minimum annual stay requirement to maintain Pensionado status; however, physical presence in Panama is required for citizenship naturalisation
- Dual Citizenship
- Allowed
- Tax Impact
- Panama operates a territorial tax system — foreign-source income is not taxed in Panama regardless of residency status. Pensionado visa holders living on foreign pensions pay no Panamanian tax on that income.
Minimum monthly pension or lifetime annuity income of $1,000 USD from a government, company, or private pension fund. Income must be permanent and irrevocable.
Key Requirements
- ✓Proof of a lifetime pension or annuity of at least $1,000 USD/month from a government, company, or private pension fund
- ✓Letter from the pension provider confirming the lifetime, irrevocable nature of the income
- ✓Additional $250/month per dependent family member
- ✓Valid passport
- ✓Criminal background check (apostilled)
- ✓Birth certificate and marriage certificate if applicable (apostilled)
- ✓Medical certificate from a Panamanian physician
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