Panama Pensionado Visa (Retirement Visa): Requirements for 2026

This is a reading of public Panamanian rules, not a legal opinion and not a filing you should submit on your own. A Panamanian lawyer presents the case to the Servicio Nacional de Migración. Figures below come from the migration service sheet for Jubilado Pensionado (file posted April 2026) and from Law 6 of 16 June 1987. If a number is not in those documents, it is marked as unverified.

The Panama Pensionado visa is the permit most retirees with a lifetime pension use: indefinite residence for a foreigner with a lifetime pension of at least B/.1,000 a month, or B/.750 a month if they have personally bought property in Panama for more than B/.100,000, plus B/.250 a month for each dependant. The April 2026 migration sheet quotes Article 200: the pension or retirement income must come from a foreign government, an international organization, or a private company, and it must be granted for life. The balboa trades at par with the US dollar, so the figure is the same in dollars. The sheet’s fourth exception says the permit is indefinite and does not need an extension.

Last checked against official sources: 1 November 2026.

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This page is the filing. The retiring in Panama guide asks whether a Panama retirement fits: cost, places, and safety. The relocation guide is the moving checklist. Open Horizon is the managed move.

What the permit is

There is no country list. Unlike the Friendly Nations visa, nationality is not the test. A US, UK, or Canadian pension can qualify if the certificate shows a lifetime payment at or above the minimum. The sheet does not print a minimum age for the residence permit itself.

The income tests

The sheet sets these money rules. Amounts are monthly.

Situation	What the April 2026 sheet requires
Standard case	A lifetime pension of at least B/.1,000 a month, or the equivalent in foreign currency, certified by the foreign government, international organization, or private company that pays it.
Personal real estate	If the applicant has bought property in Panama in their personal name for more than B/.100,000, the pension may be at least B/.750 a month. The sheet asks for a Public Registry certificate of that property when this exception is used.
Spouses	The two pensions may be added together to reach the B/.1,000 minimum.
Each dependent	An extra B/.250 a month of economic solvency, shown with additional pension or a local bank reference.

The property exception says “a título personal.” It does not say a company or a foundation holding the title qualifies for the B/.750 test. Buyers comparing neighborhoods should use the Panama real estate investment guide. That page is about the market, not this permit.

A private-company pension

If a private company pays the pension, the sheet adds three items on top of the general list: a letter from a foreign pension administrator, trust company, mutual fund, insurer, or bank stating that it administers funds for the company or the applicant; a certificate that the company which grants the pension and administers the fund exists and is in good standing; and a copy of a payment receipt or bank statement.

Documents the sheet lists

The April 2026 sheet (PRP-JP) asks for:

• A notarized power of attorney and application, including the parents’ names and nationalities.
• Three photographs.
• A notarized or authenticated copy of the passport.
• A criminal record certificate.
• A health certificate.
• A sworn personal-background form.
• The pension certificate described above.
• The extra B/.250 a month for each dependent, if any.
• The Public Registry certificate, if the property exception is used.
• The three private-pension documents, if a company rather than a government pays.

The same sheet does not print a government filing fee, a lawyer’s fee, or a processing time in days or months. Those amounts are unverified here. The Friendly Nations guide does quote B/.250 and B/.800 certified checks, because they are printed on that subcategory’s sheet. They are not printed on this one. Do not copy them across.

The legal basis printed at the foot of the sheet is the Political Constitution, Law 9 of 24 June 1987, Decree Law 3 of 22 February 2008, Executive Decree No. 320 of 8 August 2008, Articles 200, 201, 202, and 203 as amended by Executive Decree No. 26 of 2 March 2009, and Law 38 of 2000. The public copy is the migration service PDF at migracion.gob.pa under the April 2026 uploads path.

Dependents

Dependent children receive a temporary permit until they turn 25, and only if they prove they are in full-time study. The sheet says they do not receive permanent stay or Pensionado status. The exception is a dependent child with a proven profound disability.

If you have no pension: Rentista Retirado

If you do not have a pension, you may qualify as a “retired rentier” (Rentista Retirado) by placing funds in a fixed-term deposit at Banco Nacional de Panamá or Caja de Ahorros. The deposit must earn at least B/.850 a month in interest for at least five years, with no liens on it. The permit is issued for five years and can be renewed.

Source: Servicio Nacional de Migración requirements (PE1, posted April 2026); D.E. 320 de 2008, art. 196 (as amended). Requirements and bank deposit terms can change. Confirm current figures with us and with the bank before committing funds.

Discounts are a different statute

The residence sheet does not list the discounts. Those sit in Law 6 of 16 June 1987, republished as a texto único in Gaceta Oficial No. 26314-A of 30 June 2009. The law gives discounts to retirees and pensioners, and to legal residents who are women aged 55+ or men aged 60+. Pensionado-permit holders are covered as pensioners, at any age. Examples include:

• 20% off medicines
• 25% off electricity bills, on the first 600 kWh a month
• 25% off water bills of up to B/.30 a month, on a residential account in your name
• 25% off the fixed monthly charge for one residential phone line in your name
• 50% off cinemas, theatres and sports events; 25% off airfares on national and foreign airlines; 30% off interurban buses, trains and boats
• 50% off hotels Monday–Thursday (30% Friday–Sunday); 25% off restaurant meals (15% at fast-food chains)
• 20% off doctors’ consultations; 15% off dental and optometry services; 15% off private hospital and clinic bills
• 50% off passport fees; 20% off professional and technical services

Conditions and exclusions apply. Discounts are applied at the point of sale, and Panama’s consumer protection agency (ACODECO) enforces them.

Source: Ley 6 de 1987, art. 1, Texto Único (Gaceta Oficial 26314-A, 30 June 2009). Current as of 1 November 2026.

Discount rules come from Panamanian law and can change. Individual businesses apply them under ACODECO oversight. This is general information, not legal advice.

What this permit does not do

The April 2026 sheet does not grant a work permit and does not mention the Ministerio de Trabajo y Desarrollo Laboral. Treat employment as a separate question. It also does not confer tax residency.

Panama taxes income on a territorial basis: as a general rule, income from sources outside Panama — including many foreign pensions — is not subject to Panama income tax. Your home country may still tax it. U.S. citizens, for example, are taxed on their worldwide income wherever they live. Speak to a qualified tax adviser about your own situation.

Information current as of 1 November 2026. Tax laws in Panama and in your home country change. This is general information, not tax or legal advice; Inter Commerce Consulting does not provide tax advice. Consult a licensed tax professional in your home country and in Panama.

The Panama tax savings calculator is a comparison tool; it is not a certificate of tax residence.

Friendly Nations remains the listed-country route, with a job or a B/.200,000 property or deposit, and a two-year provisional permit. Pensionado is the lifetime-pension route, and the sheet calls the permit indefinite. They are not substitutes.

Sources

• Servicio Nacional de Migración, “Requisitos para Jubilado Pensionado (PRP-JP),” April 2026 PDF, quoting Article 200 and the four exceptions: migracion.gob.pa.
• Servicio Nacional de Migración, Rentista Retirado requirements (PE1), April 2026 PDF: migracion.gob.pa.
• Panamá Digital, “Solicitud de permiso de residente permanente como jubilado y pensionado”: panamadigital.gob.pa.
• Law 6 of 16 June 1987, texto único, Gaceta Oficial No. 26314-A, 30 June 2009, as hosted by ACODECO: acodeco.gob.pa.

The information on this page is general and for informational purposes only. It is not legal, immigration or tax advice and does not create a professional relationship. Requirements are set by Panamanian authorities and may change. Last reviewed: 1 November 2026.