You cannot just move to Panama! To live in Panama, you must get a residency visa. The most popular visa for retirees is the Pensionado Visa, which is also the most affordable visa. Most government fees for the Pensionado visa are waived, saving you $1050 per person.
During this livestream, Jackie shares information about getting a Pensionado Visa, what you need to qualify for, the process, costs, and much more. See the notes below the video:
Here’s an overview of the process for getting a Pensionado Visa.
Requirements for the Pensionado Visa
You must currently receive a pension of at least USD $1000 per month in a lifetime pension from the government, Social Security, the military, or a pension from a private company.
If you’re married, you must add $250 for your spouse, who can also get a Pensionado Visa. Minor children can also be added to the Pensionado visa for $250 per dependent.
Panama will not accept common-law marriages, domestic partners, or same-sex marriages.
Panama may accept a lifetime annuity if your previous employer set it up for retirement. The annuity can be purchased through an approved insurance company, provided it produces at least $1000 monthly in income for the rest of your life.
If you and your spouse have a pension, they can be combined to equal the $1250 requirement.
Documents Needed to Get a Pensionado Visa
You will need to gather some documents in your home country. And some documents your attorney will provide in Panama. The documents you need to gather in your home country are:
- National Criminal Report ( see note below if you have dings on your report)
- Proof of lifetime pension
- If married, a certified copy of your marriage certificate
- If minor, a certified copy of their birth certificate
These documents must be authenticated by the Panama Consulate (in your country ) or apostilled by the federal government (in your country). Note that Canadians must have their documents notarized and then apostilled in their province.
Ideally, you mail these documents via DHL or FedEx to your immigration lawyer at least two weeks before you arrive in Panama to get a visa. This will give your attorney time to translate them into Spanish (which must be done in Panama) and, if necessary, get the documents re-authenticated at the Ministry of Foreign Relations in Panama City.
IMPORTANT NOTE: Your documents cannot be more than six months old when you apply for a visa.
Process for Getting a Pensionado Visa
The first step to getting a Pensionado Visa is selecting an immigration attorney to work with and setting a date on when you will come to Panama to get a visa.
We have recommendations for reliable and affordable immigration lawyers in the Online Guide.
Before hiring an immigration lawyer, we recommend getting an itemized list of charges so there are no surprises. Also, find out if the immigration lawyer charges extra if you pay with a credit card. They will send you a list of documents to gather in your country.
To get a visa, plan to be in Panama for at least five business days; seven days is better, just in case there are any problems.
First, you will meet with your immigration attorney in their office to give them a Power of Attorney to represent you in getting a visa. They will have you sign other documents, like the Affidavit of Criminal Activity ( we have this 9-page document in the Online Guide).
Usually, the next day, you will go to immigration to apply to get your visa. You should plan to be at immigration for 3-4 hours, but it could be faster.
You must dress business casually for all government offices. You cannot wear shorts, sandals, or sleeveless tops.
Initially, you will receive a temporary visa, which is good for six months.
Your immigration attorney will let you know when your permanent visa is ready within 6 months. It could take 2-3 months, or it may take six months.
Once you get your permanent visa, you can apply for your Cedula, the national ID card. Ask your attorney if they will help with that process. (We have Fixers listed in the Online Guide who can help you get a Cedula)
Once you get a Pensionado visa, you are not required to live in Panama. You only need to return to Panama for at least one day every two years. This makes the Pensionado visa an ideal “Plan B!”
Costs to Get a Pensionado Visa
Each attorney sets their fees. We have a list of affordable immigration lawyers and their fees in the Online Panama Relocation Guide.
The lawyers we work with offer discounts to clients who come on a Panama Relocation Tour or purchase the Online Panama Relocation Guide. They charge between $1000 and $1250 for one person to get a Pensionado Visa. There is a discount for a couple applying together. Note that these are only the legal fees for getting a Visa. There will be additional government fees of about $100 per person and translation fees of about $100 per person. Get a complete list of charges from your immigration lawyer so there are no surprises. They also offer Veteran discounts.
Some immigration lawyers include help with getting a Cedula, a driver’s license and opening a bank account. Others charge extra for these services. So you need to ask what’s included.
Some immigration lawyers (not on our list) in Panama charge $3000-$5000 or more to get a Pensionado Visa, but there is no need to pay more for this Type of Visa.
As you can see, the Online Panama Relocation Guide pays for itself just in the savings for an immigration lawyer!
Visto Bueno
If you have dings on your national criminal report, you may not be able to get a Pensionado Visa! If you have a felony, assault charges, or jail time…even if they happened 40 years ago, Panama will reject your application for a visa.
If you think your criminal report may have dings, we suggest that you get it now and then share it with your immigration lawyer to see what your chances are of getting a visa.
There is an extra fee for a Visto Bueno.
If you have misdemeanor charges on your national criminal report, your attorney may need to submit a Visto Bueno to immigration requesting permission to apply for a visa.
It does not happen often, but sometimes a Temporary Pensionado visa is issued, but a permanent visa is denied because immigration sometimes discovers it when they do further investigations. For this reason, we recommend that you not buy real estate or ship a container of household goods to Panama until you have a permanent visa.
Benefits of Getting a Pensionado Visa
The #1 benefit of getting a Pensionado Visa is that you can live in Panama indefinitely. Living in such a beautiful and affordable country is an honor and privilege!
Once you have your permanent visa, you will qualify for these discounts too:
- 50% off on recreation and entertainment such as movies, theaters, sports, etc.
- 50% off hotels Monday through Thursday (30% off on weekends)
- 30% off public transportation like buses, trains, and boats
- 25% off airfare to anywhere in the world!
- 20% off restaurants (15% off fast food)
- 25% off electrical, landline telephone, and water service
- 20% off doctors and specialists
- 20% off prosthetics and other personal assistance devices
- 15% off hospitals and private clinics
- 15% off dental and optometry services
- 10% off prescription medications (most places give you 20% discount)
- tax-free importation of household goods, up to $10,000
- tax-free importation of a vehicle, or tax-free purchase of a local vehicle
It’s Worth It!
If you are a retiree and already receiving a pension, getting a Pensionado Visa is a no-brainer!
With all the Pensionado discounts, the visa pays for itself within a few years.
Once you get a Pensionado Visa, living in Panama is not required. However, you are required to come back to Panama every two years. That makes Panama’s Pensionado Visa an excellent “Plan B”!
Hi Jackie,
once I have a Pensionado visa may I return to my home country for 6 months plus a day without losing my Pensionado visa?
Smile Val
Hi Valerie
Once you have a Pensionado visa, you are only required to come back to Panama for at least one day every two years.
Do you have to be age 60 something in addition to the other requirements for a pensionado visa?
HI Bill. The minimum age requirement for the Pensionado Visa is 18. You’ll also need at least $1000 a month in lifetime income, like a pension.
Can a hotel legally refuse to give you the discount if you are a pensionada?
Thank you.
Will, yes, they can deny the discount if you did not reserve the room directly from them or you do not have your visa/cedula to show.
Thanks Jackie!
Do you get the benefits of a pensionada visa with a friendly nations visa if you are over 65?
HI Mark. With the Friendly Nations Visa, once you get your permanent visa, you qualify for the pensionado discount if you are a woman who is 55 or a man who is 60.
where do you get the national criminal report?
David. Where you get your national criminal report depends on which country you are from. If you’re from Canada, you go to RCMP. If you’re from the United States, you can get your criminal report within 24 hours from an FBI approved channeler or a US post office. See this list of FBI approved channelers — https://www.fbi.gov/how-we-can-help-you/more-fbi-services-and-information/identity-history-summary-checks/list-of-fbi-approved-channelers-for-departmental-order-submissions
I am a 65 year old widow. If my 18 year old grandson moves with me to Panama, can he be claimed as a dependent? We are planning to take your tour this fall.
Hello Dana If you can show that you have been and are the legal guardian for your grandson, then he can be added as a dependent
Can the permanent pensionado be mailed to me in the U.S.?
Patricia, you must come to Panama to get your permanent visa. Immigration will take new photos and you must sign documents in Panama to get the visa
My wife and I are looking to retire in a year or two. We wont be old enough to get any pensions or pull from our 401k’s. We will have cash in the bank and would like to know what kind of visa we would need and how much cash do we have to have in the bank?
HI Jeff.
Thanks for your interest in Panama. These are the other visa options if you do not have a pension:
https://panamarelocationtours.com/other-panama-permanent-residency-visa-options
Hi Jackie,
I will be taking the shortened tour in April/May. I believe I am eligible for a Pensionado Visa. However, I still work remotely on a per diem basis. Would I be legally permitted to continue this per diem work if I relocated to Panama?
Thank you.
Ann
HI Ann, Yes, you can still work remotely after you get a Pensionado visa. You just cannot sell products or services IN Panama.
Hello Jackie!
I am younger than 60 and on permanent disability from my job. I am receiving a monthly disability payment from my private life insurance company that far exceeds the income requirement for a pensionada visa. This payment will continue until I turn 67, when I plan to begin receiving my social security benefits, which will also exceed the pensionada visa income minimum. I can provide proof of both of these payments, which are guaranteed. Would I be able to qualify for a pensionada visa?
Thank you!
Rich
Rich, you’d need to talk to a Panama immigration lawyer. I don’t know that Panama will accept a disability payment from a private life insurance company that is not for a lifetime.
Hi,
What is the current processing timeframe between obtaining the temporary pensionado and receiving the permanent one? Do you have any data points for anyone who has been told recently that their permanent visa is ready as compared to when they obtained their temporary one?
I’m just trying to get a handle on how long it may take if I’m due to come to Panama to get my temporary visa in mid-March.
Thanks!
Natalia
It’s taking a full six months to get your permanent visa after you get a temporary/processing visa.
Hola! My question is does the married couple both have to apply for pensionado Visa or can one spouse apply for himself? Thank you
HI Terry. If you’re married, you do not both have to apply for a visa. You can get a visa on your own … IF you qualify. For a Pensionado visa, you will need to show at least $1000 a month in lifetime income and and a national criminal report