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Tourists can visit Panama for 30-180 days, depending on which country they are from. But to live in Panama full-time, you must get a residency visa.
Panama offers many different visa programs.
The most popular is the Pensionado visa which requires $ 1000 USD in lifetime income plus $250 for your spouse. This visa is ideal for retirees.
A Friendly Nations Visa is your best option if you don’t qualify for a Pensionado Visa. To qualify, you must be from one of the Friends Nations (see list below), then you need to meet one of these four requirements:
1. Get a job at a Panamanian company. Learn more about getting a job in this article.
2. Purchase real estate worth at least $200,000. This must be titled real estate. It cannot be Right of Possession (ROP)real estate. You can finance the real estate purchase, but financing will take at least 90 days. Most banks want 20-30% down. Plus, you need a life insurance policy naming the bank as beneficiary, and all loans must be paid off by the time you turn 70. Learn more about buying real estate in this article.
3. Deposit $200,000 into a 3-year CD earning 3.5% interest at a Panama bank. Some banks pay 5.5% on a 3-year CD. Your immigration attorney will help you set up the correct account. Read this article about the safety of Panama’s banks.
4. Set up a Panama company that issues you a labor contract and a work permit. You must show income for at least nine months and pay into Panama’s Social Security. The initial fees for this visa are about $6000 for one person. Your spouse and minor children can also get this visa. The total costs for this visa are about $10,000 for one person.
After your initial six-month temporary visa, you will receive a two-year temporary visa after applying for a Friendly Nations visa. After two years, if you continue to meet the qualifications, you can apply for your permanent residency visa. It takes about three years total to receive your permanent visa.
With any of these Friendly Nations Visa options, you can get a work permit to sell products or services in Panama.
When you get a Friendly Nations Visa, you are not required to live in Panama, but you must come back for a few days every two years.
Once you get your permanent visa, you can still get the Pensionado (also called Jubilado) discounts if you meet the age requirements of 55 for women and 60 for men. Learn more about all the Pensionado discounts available to you in Panama.
The Online Complete Panama Relocation Guide recommends affordable and reliable immigration lawyers who can help you get a Friendly Nations Visa. If you’re buying real estate to qualify, we also have a list of dependable agents throughout Panama in the Online Guide, too.
You’ll get this information if you come on an all-inclusive 6-day, 7-night Panama Relocation Tour.
The Friendly Nations Visa is only available for those who have a passport from one of these countries:
Andorra
Argentina
Australia
Austria
Belgium
Brazil
Canada
Chile
Costa Rica
Croatia
Cyprus
Czech Republic
Denmark
Estonia
Finland
France
Germany
Great Britain
Greece
Hong Kong
Hungary
Ireland
Israel
Japan
Latvia
Liechtenstein
Lithuania
Luxemburg
Malta
Mexico
Monaco
Montenegro
Netherlands
New Zealand
Norway
Paraguay
Poland
Portugal
San Marino
Serbia
Singapore
Slovakia
South Africa
South Korea
Spain
Sweden
Switzerland
United States of America
Uruguay
Peru
