What the pensionado visa requires
| Requirement | Detail |
|---|---|
| Minimum pension | 1,000 dollars a month, for life |
| Reduced pension | 750 dollars a month if a property of at least 100,000 dollars is bought in the applicant’s name |
| Dependants | An additional 250 dollars a month each; spouse and unmarried children under 25 in full-time study |
| Minimum age | None; the lifetime pension is enough |
| Type of residency | Permanent from the first resolution, with no provisional phase |
| Legal basis | Decree Law 3 of 2008 and Executive Decree 320 of 2008 |
The usual documents are a passport with at least six months’ validity, five photos, an apostilled criminal record certificate less than six months old, an apostilled letter from the entity paying the pension stating that it is for life and its amount, a health certificate issued in Panama, a sworn statement and proof of address. For private pensions, the fund administrator’s certification, proof that the company exists and three months of bank statements are added.
Costs and timelines
It is one of the cheapest categories in fees: it is exempt from the 250 balboa Treasury fee and the 800 balboa repatriation deposit that most permits pay. Applicants pay the processing card, 100 balboas with a multiple-entry visa, and the lawyer’s fees, which are mandatory. Immigration does not publish official timelines; firms report between three and six months to resolution. A firm focused on international clients such as Legal Solutions Panamá details on its permit page which documents must arrive apostilled from the country of origin and which are obtained in Panama.
The discounts by law
Law 6 of 1987, amended in 1989 and 2016, sets mandatory discounts for retirees and pensioners resident in Panama, whether Panamanian or foreign. They are claimed with the permanent resident card or the national ID.
| Item | Current discount |
|---|---|
| Cinemas, theatres, sporting and public events | 50% |
| Hotels, motels and guesthouses | 50% Monday to Thursday, 30% Friday to Sunday |
| Restaurants | 25%; 15% at franchised fast food |
| Domestic and international air fares | 25% |
| Intercity buses, trains and boats | 30% |
| General and specialist medical consultations | 20% |
| Private hospitals and clinics | 15% |
| Dentistry and optometry | 15% |
| Laboratories and diagnostics | 20% |
| Residential electricity up to 600 kWh | 25% |
| Residential landline, one line | 25% |
| Personal and commercial loans | 15% off the interest rate |
| Mortgage on own home | 1 point less interest |
The discount on prescription medicines appears as 10% in most sources and as 20% in some recent coverage; the current legal text is not accessible online to settle the figure.
What may change
On 28 August 2026 the National Assembly approved Bill 226 on third reading, expanding the discounts: medicines to 30%, electricity to 30%, water to 30% up to 50 dollars a month, loans to 20%, mortgages by two points, professional services to 25%, internet, cable and telephone to 30%, and university tuition to 25%. The bill also lets foreigners prove retiree status with the Electoral Tribunal’s permanent resident card. The private sector asked the Executive to veto or amend it. To date it has not been signed, so the current percentages remain those in the table above.
Mistakes that delay the process
- Pension letter without the word “lifetime” or without an apostille from the issuing country.
- Criminal record certificate more than six months old at the time of filing.
- Health certificate issued outside Panama: it must be signed by a Panamanian doctor.
- Private pensions without the three months of statements proving real income.
- Translations by translators not authorised in Panama.
What nobody has answered yet
- How many foreigners live in Panama on a pensionado visa? Immigration publishes approvals per year, not the cumulative total of active residents by category.
- What does the discount system cost the State? Neither the Finance Ministry nor the Assembly has published the fiscal cost of the current law or of the approved expansion.
- Will Bill 226 be signed? The Executive opened meetings with the private sector in September 2026 and has not announced its decision.
Frequently asked questions
How much pension is needed for Panama’s pensionado visa?
At least 1,000 dollars a month for life, or 750 dollars if a property worth 100,000 dollars or more is purchased. Each dependant adds 250 dollars to the requirement.
Is there a minimum age?
No. The law requires a lifetime pension, not an age. A disability pensioner or a young retired soldier can apply.
What discounts do retirees get in Panama?
Among others, 50% at cinemas and events, 50% at hotels Monday to Thursday, 25% in restaurants and on air fares, 30% on buses, 20% on medical consultations, 25% on electricity up to 600 kWh and 15% on loans, under Law 6 of 1987.
Does the pensionado visa grant permanent residency?
Yes, from the first resolution, with no prior provisional permit. It allows applying for citizenship after five years of residency.
Related articles
Sources
- Official Gazette, Executive Decree 320 of 2008.
- Ministry of Commerce and Industries, Law 6 of 1987.
- Telemetro, retiree discounts and benefits.
- La Prensa, retirees’ discounts by right.
- Infobae, Assembly approves more benefits for retirees.
- La Prensa, discount expansion approved despite private sector warnings.
- Infobae, meetings on signing Bill 226.
- Panamá Migración, permanent resident permit costs.
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