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Blog

Panama’s Pensionado Visa - How To Qualify And... Then Live It Up

Panama’s Pensionado Visa – How to Apply And Actually Qualify

Author

Kent Davis (PJ-0752-09)

Published on

March 28, 2017

Updated on

May 14, 2025

What is a pensionado visa. How to obtain a pensionado visa in panamDid you ever think you’d grow up to be a Panamanian pensioner? Well, whether you’ve been weighing the pros and cons for a while or it just fell on your radar, here are some helpful tips to see how to qualify for the Pensionado program, the application process, and, best of all, the benefits that await once you’re here.

Alongside the host of other reasons why Panama comes top for a life-changing move, the Pensionado program checks more boxes than any other for value. Besides making it super easy for expat pensioners to obtain residence in the country, it also saves you 10-50% on everyday expenses like travel, entertainment, eating out, healthcare, and more.

How To Qualify for the Pensionado Visa

The Pensionado programs allows foreigners to obtain legal residency as long as you receive a minimum “lifetime” pension or annuity of USD $1,000/month. And that means anyone – there’s no minimum or maximum age requirement.

If your monthly pension falls short of the US$1,000, but is US$750 or more, you can qualify by buying a property in Panama valued at US$100,000+, effectively reducing the lifetime monthly pension income requirement down to US$750.

If you’re married and your combined pensions add up to US$1,000 or more, you can apply jointly. Dependents, as long as they’re in full-time education qualify under your visa on a temporary basis until they turn 25, but you need to show an additional US$250/month in the monthly pension requirement for each.

Playa Venao Panama

The Documentation You’ll Need for the Pensionado Visa

Pensions from foreign governments or agencies simply need a certification letter stating the amount and that the funds guarantee a lifetime pension.

If the pension or annuity is from a private company (bank, insurance, trust or mutual fund company), besides the certification letter you’ll also need to show documentation from a government authority that the company administering and disbursing the pension is registered and in good standing, as well as proof of monthly payments or an account statement from the bank.

If you’re meeting the qualification threshold through the real estate purchase, you’ll also need to provide certification of Public Registration of the property with the title in your name.

Next, you’ll need a police record from your last 5 years of residency, as well as pass a medical on arrival in Panama.

Note that all documents need to be originals, notarized and either authenticated by your nearest Panamanian Consulate or duly apostiled.

Marriage certificates and/or birth certificates (for children under 18 years of age – if applicable) are also required to be originals.

Read on here for some tips from a Pensionado veteran on how to manage the actual process.

Application Process For Residency:

Bear in mind that for the Pensionado visa, you have to start the process in your home country. You also need to hire a Panamanian attorney to file your application, authorizing them via a Power of Attorney to handle the process and documentation on your behalf.

Other than that, the procedure for all resident permits is the same: you register your passport in person at Immigration in Panama and present your application with all the required documents, fees etc, together with your attorney. You should plan to be in Panama over 7-8 business days for this process. Make sure you don’t go to Immigration straight from the beach in your shorts and flip flops, they’re picky about attire.

At this point, Immigration will issue you a “Provisional Processing Card” and “Multiple Entry-Exit Visa” valid for the duration your residency application is being processed. Usually, you’ll get your visa in 2 – 3 months, at which point you should plan to return to Panama to take your final Immigration photos. And there you are, a newly minted Panamanian pensioner.

Applying for a pensionado visa in panama signing

And Now, To Those Plum Pensionado Benefits:

Once you get the Pensionado visa, Panama’s your oyster. To start, you get half off on entertainment (everything from movies and concerts to sports games), 25% off your restaurant bill, 25-30% off domestic travel fares, 30-50% off hotel stays, and a bunch of savings on healthcare (10%-20% off prescription drugs, doctors’ visits and dental and eye exams).

You’re also in for some great tax exemptions, like a one-time duty exemption on household goods up to a total of US$10,000 and exemptions on importing a new car every 2 years (!).

The benefits also extend to home ownership: you save half off closing costs for home loans, 25% off utility bills and 1% off mortgage loans if the property is used solely as a personal residence.

So, there you have it. Why would anyone not want to retire in Panama?

Kent Davis (PJ-0752-09)

Kent Davis, founder of Panama Equity Real Estate, is a leading expert in Panama’s competitive real estate market. Originally from Honolulu, Hawaii, he holds a Marketing Information Systems degree from James Madison University. After a successful corporate career managing multimillion-dollar inventories at Hajoca Corporation, Kent pursued his dream of living abroad, moving to Panama in 2007.
Driven by an entrepreneurial spirit, he established Panama Equity to connect buyers, sellers, and investors with Panama’s top properties. Known for his transparency, expertise, and market insights, Kent has helped hundreds navigate Panama’s real estate landscape. Fluent in Spanish, he frequently publishes market reports to empower clients with informed decisions.
Beyond real estate, Kent is passionate about Panama’s culture, landscapes, and surf-friendly beaches. He lives in Panama with his wife and three sons, embracing the vibrant lifestyle the country offers.

27 Comments

  1. Phyllis Pendleton

    on February 9, 2021 at 2:21 pm said  

    It states that you need a policy report for last 5 years of residency. Does this mean you need to ask you local state policy sept to run a policy report? So no FBI background check required?

    Reply
    • Kent Davis

      on February 9, 2021 at 6:43 pm said  

      Hi Phyllis, thanks for reaching out! Im going to intro you to our go-to Panama immigration attorney, as the policies do change from time to time.

      Reply
      • John Tunmire

        on June 11, 2023 at 1:06 pm said  

        I’m also interested in being introduced to your go to immigration attorney. Thanks

        Reply
        • Kent Davis

          on June 21, 2023 at 3:04 pm said  

          Absolutely John, just sent an email.

          Reply
          • T. Thomas

            on July 13, 2024 at 11:40 am said  

            Could you also send me to your immigration attorney as well?

          • Kent Davis

            on December 16, 2024 at 4:45 pm said  

            Sent!

  2. Bennie Beebe

    on May 27, 2021 at 12:06 pm said  

    Are USA Social Security funds accepted?

    Reply
  3. Marcus Lawrence

    on September 11, 2021 at 2:01 pm said  

    I love the idea of becoming a retiree in Panama. So we need to hire a Panamanian Attorney? Is there someone who can provide some recommendations so as to ensure we get what we pay for kind of representation?

    Reply
    • Kent Davis

      on December 22, 2021 at 7:26 am said  

      Yes! I’ve sent you a direct message

      Reply
  4. Gerald Harris

    on January 30, 2023 at 5:41 pm said  

    Could you give me a referral to a good panama immigration attorney to guide me through the process of obtaining a pensionado visa?

    Reply
    • Kent Davis

      on January 31, 2023 at 7:35 am said  

      Absolutely Gerald, you should have that introduction in your inbox. She’s one of Panama’s best immigration attorneys and I think you’ll get along well. Definitely the right person to guide you thru the process of obtaining that specific Pensionado visa.

      Reply
      • Dan Fraser

        on August 28, 2023 at 1:55 pm said  

        I would also like this contact for an attorney in Panama please.

        Reply
        • Kent Davis

          on December 11, 2023 at 5:32 pm said  

          You got it Dan, email in your inbox!

          Reply
  5. Milton Ezell

    on February 13, 2023 at 1:23 pm said  

    How many days per year must I physically be in Panama in order to maintain a Pensionado visa?

    Reply
    • Kent Davis

      on February 14, 2023 at 5:01 pm said  

      Hi Milton, once the pensionado visa cedula has been issued, you can leave for up to two years at a time. There are however certain periods during the obtaining of your cedula, which is the final step of the pensionado visa process, that you must come to Panama. But really its for processing purposes, not a time requirement per se. Hope that is helpful and if you need a recommendation to a trusted Panama immigration attorney, just say the word!

      Reply
  6. Howard Wilcox

    on February 17, 2023 at 10:57 pm said  

    It says I need to start the Pensionado process from here in the US. How and what do I do to do that? Also, a recommendation and contact for a good but low-cost immigration attorney from you would be great. A detailed list of everything that I need for myself and my wife to apply for the Pensionado so I can start working on that here.

    Reply
    • Kent Davis

      on May 16, 2023 at 2:30 pm said  

      We suggest you start the pensionado visa process as soon as possible. Best angle will be with a local Panamanian immigration attorney who we have already introduced you to via email. Cheers!

      Reply
  7. Loren G Martin

    on November 27, 2023 at 1:43 am said  

    Please send information on the retirement visa. I’m 81 years old, a former (emeritus) professor od medical physiology and meet the income requirements with a bank letter as proof (2 government pensions and an annuity). Thank you very much. The attorney reference would also be very helpful,

    Reply
    • Kent Davis

      on December 11, 2023 at 5:32 pm said  

      Absolutely ma’am, you’ve got an email in your inbox with a Panama immigration attorney referral

      Reply
  8. Kathy Gable

    on December 20, 2023 at 3:56 pm said  

    Can you start the process before you actually start to draw funds from your pension/social security or must you already be drawing funds?

    Reply
    • Matthew Marx (PJ-0752-09)

      on December 21, 2023 at 6:34 pm said  

      Unfortunately, you will be unable to start the process for your pensionado visa until you start to draw funds from your actual pension/social security fund.

      Reply
  9. Rudy Rodriguez

    on July 25, 2024 at 3:02 pm said  

    Hola, I’m thinking of retiring to Panama. I am 57 years old and not drawing social security for another 5 years. However, I do have over $250,000 savings in a bank account. I plan to rely on those monies to cover my expenses for the next 5 years, until I draw social security. Do I qualify for the Pensionado visa?
    I could roll my savings into an IRA but not sure how much would be needed to have it considered or equate to it being a “lifetime pension”?

    Reply
    • Kent Davis

      on December 16, 2024 at 4:43 pm said  

      Hello Rudy, it depends on how your assets are structured. Stand by and we’ll intro you to an attorney!

      Reply
      • Jamie

        on April 19, 2025 at 2:50 pm said  

        Hi Kent,

        I am also looking into the Panama retirement visa, but would like to get a bit more insight into $1.000 monthly income vs retirement lump sums. Could you perhaps put me in touch with a Panama lawyer to look at the different possibilities? Thanks a lot. Kind regards Jamie

        Reply
        • Kent Davis

          on April 22, 2025 at 1:18 pm said  

          Absolutely Jamie, stand by!

          Reply
  10. Michellene Lenz

    on May 9, 2025 at 3:32 am said  

    I would also like for you to send me a possible attorney for the visa requirements.
    thank you

    Reply
    • Kent Davis

      on May 14, 2025 at 7:35 am said  

      Absolutely Michellene, it’s in your inbox!

      Reply

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