A foreign national who receives a lifetime pension from a government, an international organization or a private company can apply for permanent residency in Panama as a retiree or pensioner. The general requirement is to show a monthly pension of at least B/.1,000. If the applicant has already purchased real estate in Panama in their own name worth more than B/.100,000, the minimum may be reduced to B/.750 a month. In addition, B/.250 a month must be shown for each dependent; spouses may combine their pensions to reach the minimum. The permit is granted indefinitely and does not require renewal, under Executive Decree No. 320 and its amendments.
It is important to distinguish this residency from retiree discounts: the visa is an immigration permit, while the discounts are governed mainly by Law 6 of 1987 and have their own requirements. Panamá Digital’s information summarizes the criteria published by the National Immigration Service.
What is permanent residency as a retiree or pensioner?
It is an immigration permit for foreign nationals who receive a lifetime retirement pension and wish to settle in Panama. The legal basis is Executive Decree No. 320 of 2008, amended, among other rules, by Executive Decree No. 26 of 2009. Article 203, as amended, provides that the permit is granted for an indefinite period without the need for renewal.
In everyday speech it is often called the “Pensionado Visa”, but the legal category is a permanent resident permit as a retiree or pensioner. The application must be filed through a legal representative with the National Immigration Service.
Who can apply for the Pensionado Visa?
A foreign national who receives a lifetime pension from a foreign government, an international organization or a private company, and who wishes to settle in Panama, can apply. The core requirement is that the pension is granted for life and reaches the established minimum.
The regulations reviewed do not set a general minimum age of 25 for applying for this permit. Eligibility is based on the pension and on the documents showing that it meets the legal conditions. For that reason, the age of 25 should not be presented as an official requirement of the visa.
If the pension comes from a private company, additional evidence about the company and the management of the funds may be required. The regulations mention documents from the pension administrator, trust, mutual funds, insurance or banking entity, as well as proof of payment or account statements.
What is the minimum income required?
The general minimum is a lifetime pension of B/.1,000 a month. The exception allows applying with a minimum pension of B/.750 a month when the applicant shows that they purchased, in their own name, property in Panama worth more than B/.100,000. This is not a rule that allows adding up any family-owned or company-owned property: the requirement published by Panamá Digital refers to the purchase of the property in the applicant’s own name.
Spouses may combine their pensions to reach the B/.1,000 minimum, provided both prove their income and submit the required documents. This option is provided for in the immigration regulations.
What conditions apply to dependents?
The application may include dependents, but each one must meet the applicable family reunification requirements. Panamá Digital’s page states that the documents required for the temporary resident permit by family reunification must be submitted. In addition, adult dependents must grant power of attorney themselves.
The pensioner must show additional financial solvency of B/.250 a month per dependent. The regulations allow this to be shown through an additional pension or a local bank reference. For dependent children, the National Immigration Service sets special conditions on age and studies; confirm the requirement in force for your case before gathering documents.
What documents are usually submitted?
The exact list depends on the family situation and the type of pension. The file usually includes:
- Power of attorney and application prepared by the legal representative.
- Copy of the passport, authenticated or certified in the manner accepted by Immigration.
- Criminal record certificate.
- Health certificate.
- Sworn declaration form on personal background.
- Official certification proving retiree or pensioner status and the amount of the lifetime pension.
- Proof of additional solvency for each dependent.
- Public Registry certificate for the property, if the B/.750-a-month exception is used.
- Documents proving marriage or kinship, if family members are included.
- For a private-company pension, additional documents on the entity that pays it and whoever manages the funds.
Documents issued abroad must be apostilled or authenticated, as applicable. If they are not in Spanish, Panamá Digital states they must be translated by an authorized public translator in Panama. Check the current list with the National Immigration Service before filing.
How much does the process cost and how long does it take?
The B/.100,000 real estate investment is only necessary if the applicant uses the exception that lowers the minimum pension to B/.750. It is not a requirement for those who show a lifetime pension of B/.1,000 or more.
Law 9 of 1987 provides tariff exemptions for pensioners, including the import of personal items and a vehicle, under the conditions of that law. It also establishes an exemption from certain immigration charges related to obtaining the visa. Professional fees, translations, apostilles and other costs of preparing the file are separate items.
- Minimum lifetime pension: B/.1,000 a month.
- Property exception: B/.750 a month if a property purchased in the applicant’s own name for more than B/.100,000 is shown.
- Additional solvency per dependent: B/.250 a month per person.
- Duration of the permit: indefinite, no renewal.
- Processing time: the official sheet consulted does not state a single processing time.
- Preparation costs: variable (fees, apostilles, translations and documents).
A fixed approval time should not be promised: preparation and review depend on the file being complete and on Immigration’s evaluation.
Are the Pensionado Visa and retiree discounts the same thing?
No. They are separate benefits governed by different rules. The Pensionado Visa grants permanent residency and is governed by immigration law. Discounts for retirees and pensioners are found mainly in Law 6 of 1987, whose consolidated text was published in the Official Gazette.
Law 6 covers Panamanians and resident foreigners aged 55 or over if women and 60 or over if men, as well as retirees and pensioners of any gender. A person who obtains residency as a pensioner may therefore be entitled to the discounts by virtue of their pensioner status, even if they have not reached the age that applies to those who qualify by age alone. To access each benefit, they must be able to prove the required status to the establishment or provider.
The current legal text consulted provides, among others, discounts of 50% on shows; 30% on intercity buses, trains, launches and boats; 25% on airfares and restaurants; 15% on franchise fast food and certain clinic services; and 20% on medicines and medical consultations. It also provides discounts on hotels, electricity, water and telephone, subject to conditions and limits. Not all percentages apply to all services or without limit.
In 2026, the National Assembly reported that a bill to modify benefits for retirees and pensioners had been approved in first debate. Initial approval of a bill is not the same as a law in force: before publishing new percentages, final approval, enactment and publication in the Official Gazette must be verified.
What import exemptions does the law provide?
Law 9 of 1987 grants retirees and pensioners a full, one-time tariff exemption to import household or personal items up to B/.10,000. It also provides an exemption every two years to import a vehicle for personal or family use. These exemptions are customs benefits separate from the Law 6 discounts and are subject to their own conditions; confirm the procedure and documentation with the National Customs Authority before shipping goods or buying a vehicle.
Does the residency allow me to work in Panama?
No. Permanent residency as a retiree or pensioner lets you settle legally in Panama but does not grant a work permit. Whoever obtains this residency therefore cannot take a job, provide professional services or carry out work activities in the country under that immigration category.
This does not prevent you from holding shares or interests in a company, owning a business or serving on its board of directors. You may take part in shareholder or director meetings and exercise the rights that come with that corporate status. The difference is that being a shareholder or director is not, by itself, the same as working in the company: pensioner residency does not allow you to take on work duties or run the day-to-day operation of the business.
What mistakes should be avoided?
- Presenting B/.750 as an option without showing a property purchased in your own name for more than B/.100,000.
- Confusing the B/.250 per dependent solvency with an immigration fee.
- Assuming there is a minimum age of 25 without confirming it in the current rules.
- Submitting foreign documents without apostille or authentication, or without an official Spanish translation.
- Assuming that residency and discounts are a single automatic benefit.
- Publishing new discount percentages based on a bill that has not yet completed the legislative process.
- Confusing the Law 9 import exemption with the Law 6 discounts.
Thinking of retiring in Panama?
At Panama Contact we can guide you on residency for retirees and pensioners, document preparation and other services to settle in the country. Book a free consultation to review your situation and next steps.
