Panama does not run one 'golden visa'. It runs a menu of residence permits, each written into its immigration decrees, and several of them are built around money: a property purchase, a bank deposit, a pension or an investment in a business. For people who want a stable, US-dollar-based country as a second home, that menu is the main attraction.
The most used routes are the economic solvency permit (US$300,000 in property or a fixed-term deposit), the Friendly Nations permit (US$200,000 for citizens of listed countries, or a job offer), the fast-track Qualified Investor visa, and the Pensionado visa for retirees with a lifetime pension of at least US$1,000 a month. Most of them start with a two-year provisional permit and then convert to permanent residence.
This guide compares those options using the requirement sheets published by Panama's National Immigration Service (Servicio Nacional de Migración, SNM), with amounts as of October 2026.
Key takeaways
- Panama's residence routes include economic solvency, Friendly Nations, Qualified Investor, Pensionado, reforestation and business investor permits.
- The economic solvency route needs US$300,000 in Panamanian real estate, a three-year fixed deposit, or a mix, and starts with a two-year provisional permit.
- Citizens of countries on Panama's Friendly Nations list can qualify with US$200,000 in property, a US$200,000 three-year deposit, or a job with a Panamanian company.
- The Pensionado permit requires a lifetime pension of US$1,000 a month, or US$750 if the applicant owns Panamanian property worth more than US$100,000.
- Residence in Panama is separate from tax residence, and Panama taxes mainly Panama-source income.
Panama's main residency routes at a glance
| Route | Main requirement | First permit | Path to permanent status |
|---|---|---|---|
| Economic solvency (property, deposit or mixed) | US$300,000 from abroad | 2-year provisional | Permanent after the provisional period |
| Friendly Nations | US$200,000 property or 3-year deposit, or a local job | 2-year provisional | Permanent after the provisional period |
| Qualified Investor | Large investment set by decree (see below) | Permanent, on a fast track | Direct |
| Pensionado (retiree) | Lifetime pension of US$1,000 a month | Indefinite | Direct |
| Reforestation investor | US$100,000, or US$350,000 for direct permanent status | Provisional, or permanent | Investment held for at least 5 years |
| Macro-enterprise investor | US$160,000 company capital per applicant | 2-year provisional | Permanent after the provisional period |
| Remote worker | US$36,000 a year in foreign income | 9-month short-stay visa | Not a residence route |
Sources: SNM requirement sheets under Executive Decree 320 of 2008 and later amendments.
Economic solvency: US$300,000 in property or a deposit
The economic solvency permit is the classic investment route. According to the SNM's sheet for the real estate version, the applicant invests at least US$300,000 in Panamanian real estate and shows that the funds came from abroad. A parallel version accepts a fixed-term deposit of US$300,000 at a Panamanian bank with a general license, held for at least three years. A mixed version allows a combination of the two.
Key rules from the official sheets:
- The first permit is provisional and lasts two years. After that, the holder can apply for permanent residence.
- Each dependent adds US$2,000 to the required investment, which can be shown with a local bank reference.
- The property must be free of liens. A buyer who has paid US$300,000 in cash can finance any amount above that with a mortgage from a local bank.
- The property can be held through a Panamanian private interest foundation or a corporation, as long as the applicant is the beneficiary or holds registered shares. Bearer shares are not accepted.
- Government fees are a US$250 certified check to the National Treasury and a US$800 certified check to the SNM.
The Friendly Nations permit
The Friendly Nations route is open to citizens of a list of countries that Panama considers to have friendly, professional and economic ties with it. The list includes the United States, Canada, the United Kingdom and most EU countries, among others, and Panama added Ecuador by Executive Decree 16 of 2026, as reported by El Comercio. The list is set by decree and can change, so applicants usually confirm it with the SNM.
According to the SNM requirement sheet, the applicant receives a provisional residence permit for two years and can then apply for permanent residence. The applicant must qualify in one of three ways:
- Employment: a notarized job letter from a Panamanian company stating position and salary, with the employer's registration documents and the related labor ministry filing.
- Real estate: property worth at least US$200,000, held personally, through a company where the applicant is the final beneficial owner, or through a private interest foundation. The purchase can be financed by a local bank.
- Fixed deposit: a certificate from a Panamanian bank with a general license for a US$200,000 deposit, free of liens, with a three-year term.
Fees match the solvency route: US$250 to the Treasury and US$800 to the SNM, plus professional costs.
The Qualified Investor visa
The Qualified Investor program, created by Executive Decree 722 of 2020, is Panama's fast-track route. It grants permanent residence directly, on a faster timeline than the standard routes, and carries higher government fees. The investment options are real estate, securities listed on the Panama stock exchange, and fixed-term deposits, with the deposit and securities options set well above the property option.
The property threshold has been the moving part. Decree 722 set a temporary reduced threshold of US$300,000 instead of US$500,000. Executive Decree 109 of 2022 extended it to October 2024, and Executive Decree 193 of October 2024 then kept the US$300,000 level with no fixed end date, according to Panamanian law firms. In September 2026, Panama's Cabinet Council approved a further update that keeps US$300,000 only for new property bought at first sale and sets US$500,000 for resale property, as reported by Revista Empresas & Management. Because the rules changed at the time of writing, anyone looking at this route needs to confirm the current threshold and fees with the SNM or a licensed Panamanian lawyer before committing funds.
Pensionado: residence for retirees
The Pensionado permit is one of the region's best-known retiree visas. The applicant must receive a lifetime pension of at least US$1,000 a month from a foreign government, an international organization or a private company. The minimum drops to US$750 a month if the applicant has bought Panamanian property in their own name for more than US$100,000.
Other points from the official sheet:
- Spouses can combine their pensions to reach the US$1,000 minimum.
- Each dependent adds US$250 a month to the required income.
- Dependent children receive a temporary permit up to age 25 if they are full-time students. They do not receive pensionado status themselves.
- The permit is indefinite and does not need extensions.
- Private pensions need extra proof, such as a letter from the fund manager and bank statements showing the payments.
Other routes worth knowing
Reforestation investor. Under Decree 320 as amended in 2021, an investment of at least US$100,000 in reforestation activities approved by the Ministry of Environment qualifies for a provisional permit. An investment of at least US$350,000 qualifies for permanent residence directly. In both cases the investment must be kept for at least five years, or the residence can be cancelled.
Macro-enterprise investor. A foreigner who invests at least US$160,000 of share capital per applicant in a company, as a shareholder and officer, can obtain a two-year provisional permit and then apply for permanent residence.
Agricultural investor. An investment of at least US$60,000 in farming or aquaculture activities of national interest qualifies for a temporary permit in two-year periods, up to six years.
Remote worker visa. Panama's short-stay visa for remote workers requires foreign-source income of at least US$36,000 a year. It lasts nine months, can be extended once, and costs US$250 plus US$50 for the card. It is a non-resident status, not a path to residence. Our list of digital nomad visas in 2026 compares it with similar programs.
Documents and process
The SNM sheets share a common core. Applications are filed through a power of attorney and petition, which in practice means a Panamanian lawyer files for you. The usual documents are:
- Three photos and a certified copy of the full passport.
- A criminal record certificate from the country of residence.
- A health certificate.
- A sworn statement of personal background on the SNM form.
- Proof of the qualifying investment, pension or job.
- For dependents, a letter of responsibility, proof of relationship and proof of address, plus a single-status certificate and study records for those over 18.
Foreign documents must be apostilled or legalized and translated into Spanish. When converting a provisional permit into permanent residence, the applicant generally files the same documents again, except the criminal record certificate and the government checks. Banks and the SNM will also look closely at where the money came from. Our guide to source of funds checks explains what that usually involves.
Residency, citizenship and tax in Panama
Permanent residence lets you live in Panama indefinitely, but it is not citizenship. Panama's Constitution allows naturalization after five consecutive years of residence once permanent residence is granted, along with a formal renunciation of other nationalities, proof of Spanish and a test on Panamanian history and civics. Our comparison of residency by investment and citizenship by investment explains why residence and citizenship serve different goals.
On tax, Panama mainly taxes income from Panamanian sources, which is why it appears on most territorial tax country lists. Holding a residence permit does not automatically make you tax resident, and it does not end your tax residence elsewhere. Panama has also tightened rules for companies with foreign passive income, covered in our analysis of Panama's substance rules. For a wider regional view, see our comparison of golden visas in Latin America.
Frequently asked questions
What is the cheapest way to get residency in Panama?
For citizens of Friendly Nations countries, a job with a Panamanian company or a US$200,000 property or deposit is usually the lowest-cost investment path. Retirees with a lifetime pension of at least US$1,000 a month can use the Pensionado permit without any investment. Others typically use the US$300,000 economic solvency route.
Does Panama have a golden visa?
Not by that name. The Qualified Investor visa is the closest equivalent, because it grants permanent residence directly in exchange for a large investment. The economic solvency and Friendly Nations routes also accept property or deposits but start with a two-year provisional permit.
Can I buy property with a mortgage and still qualify?
Under the economic solvency route, the SNM sheet says the applicant must have paid US$300,000 in cash, and only the amount above that can be financed by a local bank. The Friendly Nations sheet allows the US$200,000 purchase to be financed by a local bank.
Do I have to live in Panama to keep my residence?
The SNM requirement sheets do not set a fixed number of days per year for these permits, but each route has conditions, such as keeping the investment or the pension. Practical rules on renewals and absences can change, so applicants often confirm them with a Panamanian lawyer.
Does Panamanian residency mean I pay no tax?
Not by itself. Panama mainly taxes Panama-source income, but your tax position depends on where you are tax resident and on the rules of your home country.
Important: This article is general information, not tax, legal or financial advice. Rules change often and depend on your personal circumstances. Speak with a qualified professional in each relevant country before you act.