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Like all countries, Panama has immigration laws that govern how long a tourist can stay in Panama, and the immigration law also defines the rules for foreigners to get a Visa so they can live in Panama.Â
If you want to live in Panama or obtain legal residency in Panama, you’ll need to get a permanent residency Visa. This Visa entitles you to live in Panama indefinitely. There are many kinds of Visas, and the rules are different for each.
The Visa most foreigners are interested in is the Pensionado Visa because it is the least expensive and the fastest Visa for getting permanent residency status.  Below I will discuss the process for getting the Pensionado Visa and other visas. There are big differences in the qualifications for each visa.
The Pensionado Visa, also known as the retiree Visa, is the easiest and least expensive Visa to get. To qualify, you must show a lifetime income of $1,000 per month pension plus $250 per month for each dependent. So, a couple would need to prove $1250 a month in lifetime income from a pension, Social Security, or military retirement.  Some annuities are accepted. Panama does not accept 401K, or rental income for this visa. Panama looks at the gross amount of your pension.
An annuity is only accepted if (1) your previous employer set it up as a lifetime retirement account or (2) it is set up through an insurance company to provide lifetime income.
A Pensionado Visa is the least expensive Visa because the government of Panama waives all fees, which saves you $1050 in expenses. The drawback of this Visa is that you can never work in Panama. You cannot sell any services or products in Panama if you have a Pensionado Visa. The benefits are that you get many discounts, like 25% off all airfare, 25% off utility bills, 50% off movie theaters, 20% off prescriptions, and restaurants.
Unfortunately, getting a residency visa is a multiple-step process that requires several trips to Panama. If you wait to get your Visa after moving to Panama, you can avoid the expense of airfare and hotels.
THESE ARE THE STEPS FOR GETTING A PENSIONADO RESIDENCY VISA IN PANAMA:
1. Select a Panama lawyer to work with. The lawyer will send you a list of documents you must obtain in your country. You will need a national criminal report, like an FBI report, a marriage certificate if married, and proof of pension. Most of those documents will need to be apostilled or authenticated. Most documents cannot be more than six months old, but better to apply for a Visa within 1-2 months after you get your documents.
If you are opening a bank account, you’ll need a bank reference letter that is not over 30 days old. It is not required to open a bank account with you get the Pensionado Visa.
During a Panama Relocation Tour, you will meet the lawyer who handles all the Visa applications for our tour clients.
2. Once you have all the documents the lawyer requested, you should scan them, email them to your lawyer so they can ensure everything is correct and get all documents translated into Spanish before you arrive. You certainly do not want to come to Panama only to discover that one of the documents is incorrect.
3. When you arrive in Panama, on the first day you will meet with your lawyer at their office to sign documents giving them the authority to represent you at immigration. There is also a questionnaire form that is required for getting a Visa. Don’t be surprised if you are asked if you have even been a prostitute or a drug dealer. This will be a 1-2 hour meeting.
(NOTE: If you get your documents authenticated at the Panama Embassy in your country instead of an apostille, an additional step in Panama must be taken before you can apply for your visa at immigration. You must get all documents authenticated by the Ministry of Foreign Relations in Panama City. Your attorney will take care of this for you. This will take two days and they charge $5 per document. You can avoid this step if you get your documents apostilled.)
4. On the third day, you will meet your lawyer or their representative at immigration to file your visa application. This will take 1-2 hours, depending on the line.
5. On day 4, you will meet your lawyer at immigration again to get your temporary visa, also called a processing visa. The temporary visa is valid for six months. This gives immigration time to verify all the documents you have submitted.  Usually, within 3-6 months, your permanent visa will be ready.
6. If you do not plan to stay in Panama for the six months that your Visa is being processed, you will need to get a Multi-entry QR code placed on your visa card. This allows you to leave Panama while immigration processes your visa. The QR code is on all temporary visas and costs $50. Â
7. About two to five months after you get your temporary Visa, your lawyer will notify you that your permanent Visa is ready. You must travel to Panama City for one day to get your permanent resident Visa. If you cannot travel to Panama right away, your attorney can pick up the “resolution” that your visa is approved so that you can come to Panama later to get new photos and your visa card.
8. Once you get your permanent visa, you can apply for a Cedula (national ID card). But you must apply for the Cedula in Panama City. The Cedula card will be ready in about seven days. You can have your Cedula sent to the town where you live so you don’t need to return to Panama City, or your attorney can pick it up for you in Panama City. The Cedula or national ID card is valid for ten years.
As you can see, getting your Pensionado Visa will take more than one trip to Panama. There are multiple steps in the Visa process. It will save you money if you wait to apply for your Visa after you move to Panama
Once you get your visa, you are NOT required to live in Panama, but you must return at least every two years for a visit.
After five years, you can apply for Panama citizenship and a passport IF you have lived in Panama the two previous years before applying.
I know it sounds complicated. And it certainly would be very complicated if you were trying to get a Visa without the help of a competent Panama lawyer. Your lawyer will make the whole process easy for you. Picking the right lawyer to work with is essential in the Visa process.
DO YOU PLAN TO START A BUSINESS OR WORK IN PANAMA?
If you plan to work in Panama, you must get a different visa so you can get a work permit. You will need a work permit to work in Panama, even in your own business. You cannot apply for a work permit until you get your permanent Visa. To sell products or services to people in Panama, you need a work permit. To run a business in Panama, you’ll need a business license and an RUC number, too. Your attorney can help you with both. You’ll also want to hire a Panamanian CPA to help you with bookkeeping and file tax returns.
There are several visa options for those wanting to start a business or work in Panama. Discuss with your immigration attorney what you plan to do when you move to Panama; they can advise you on the best visa options.
HOW TO MAKE IT EASY!
The right immigration attorney can make the whole process of getting a residency Visa EASY!  Â
Our Online Panama Relocation Guide recommends several honest and reliable immigration lawyers. Their prices are also much more affordable than other immigration lawyers.
