Guide by profile
Retiring in Panama
Everything you need to retire in Panama: the Pensionado Visa, retiree discounts, where to live, health insurance, housing and your pension.
- 18 procedure guides
- 26 guides
- Backed by Panamanian lawyers
In short
Panama attracts retirees from all over the world with its Pensionado Visa, the benefits the law grants retirees and a dollar-based economy. Here, in order, is what you need to know to move with your pension.
Where to start
A well-organized move usually follows three steps (step by step in the relocation checklist):
- Choose the residency option. For people with a lifetime pension, the usual one is the Pensionado Visa; if your situation is different, there are other options.
- Gather the documents in your home country: pension certificate, criminal record and civil documents, apostilled or legalized.
- Plan your life in Panama: housing, bank, health insurance and moving your belongings.
What to review before deciding
Your pension, your taxes and your assets also depend on the country you are coming from (for Americans, see moving to Panama from the US). Before you move, check how your pension will be taxed, what happens to your tax residency when you leave your country and how your will and your assets will be affected.
Frequently asked questions
Can I keep receiving my pension if I move to Panama?
It depends on the country that pays it: some require periodic proof of life from abroad and others have social security agreements with Panama. We explain what to check in receiving your foreign pension.
What currency is used in Panama?
The US dollar, which circulates alongside the balboa, Panama's own currency, at the same value. If your income arrives in another currency, plan for exchange and transfer fees.
Do I need to speak Spanish to live in Panama?
Spanish is the official language and the one used in government procedures: foreign documents must be submitted in Spanish or with an official translation. In the capital and in areas with many foreign residents, services in English are common.
Where do foreign retirees live in Panama?
Many choose Panama City for its services and hospitals; others prefer the mountain climate of Boquete or El Valle de Antón, or the Pacific coast in areas such as Coronado. The choice affects housing costs and access to healthcare. We compare the areas in where to live in Panama.
Is it safe to live in Panama?
As in any country, it depends a lot on the area. Before choosing where to live, check your country's travel advice and, if you can, spend some time in the area you are considering (see is it safe to live in Panama?).
Panama or Costa Rica for retirement?
Both require a similar pension, but in Panama pensionado residency is permanent from the start and does not require paying into social security. We compare them in Panama or Costa Rica; we also compare Panama or Portugal.
What you need to know, by topic
Immigration and citizenship
See allGuide
Panamanian Citizenship and Dual Citizenship for Foreigners
How a foreigner becomes a Panamanian citizen, what naturalization requires, whether you keep your original citizenship and how it compares to residency.
Read the guideProcedure guide
Panama Residency by Economic Solvency
Requirements and steps to get residency in Panama by proving economic solvency with a fixed-term deposit or a real estate investment.
Read the guideGuide
Panama Embassies and Consulates: What to Do Before You Travel
What Panama's embassies and consulates do, when you need a visa and how to prepare your residency documents at home: apostille, legalization, translation.
Read the guideGuide
Do You Need a Visa to Enter Panama? Requirements by Nationality
Which nationalities can enter Panama without a visa, which need a stamped or authorized visa, how long you can stay as a tourist and what the visa requires.
Read the guideProcedure guide
Panama Residency Through Family Reunification: Spouse, Children and Parents
Panama residency through family reunification for the spouse of a Panamanian, dependents of a resident and parents of Panamanian children: rules and fees.
Read the guideGuide
Panama Immigration: Dealing with the National Immigration Service
How immigration works in Panama: what the National Immigration Service handles, how to apply for residency and what to expect during the process.
Read the guideProcedure guide
Naturalization in Panama: How to Apply for Panamanian Citizenship
How to apply for Panamanian citizenship by naturalization: years of residence for your case, renunciation, solvency, the Electoral Tribunal exam and oath.
Read the guideGuide
Panama Visa Options: Which Residency Visa Fits You?
Every main Panama residency visa side by side: who it is for, the minimum income or investment, whether it is permanent and whether it lets you work.
Read the guideComparison
Panama vs Costa Rica for Retirement: Residency, Taxes and Healthcare
Panama vs Costa Rica for retirement: residency requirements, type of permit, taxes on your pension, social security, retiree benefits and currency.
Read the guideComparison
Panama vs Portugal for Retirement or Living on Your Income
Panama vs Portugal for retirees and passive income: visas, type of residency, pension taxes after the end of NHR, currency, mobility and healthcare.
Read the guideProcedure guide
Panama Pensionado Visa (Retirement Visa)
Requirements, documents, costs and steps to get permanent residency in Panama as a retiree or pensioner with a lifetime pension.
Read the guideProcedure guide
Permanent Residency in Panama: From Provisional Permit to Foreigner ID Card
How to move from provisional to permanent residency in Panama, which documents you submit, how to get the foreigner ID card and what needs renewing.
Read the guideProcedure guide
Panama Permanent Resident ID Card (Cédula E): How to Get and Renew It
What the permanent resident ID card issued by the Electoral Tribunal is, when you can apply, what it is for, how to renew it and what to do if you lose it.
Read the guideProcedure guide
Panama Police Record (Récord Policivo) for Foreigners
What Panama's police record is, why a foreign resident may need it, which documents the DIJ requires, how to apply and how long it is valid.
Read the guideProcedure guide
Panama Retired Investor Visa (Rentista Retirado)
Panama's retired investor residency: interest income from a fixed-term deposit at Banco Nacional or Caja de Ahorros, documents, duration and requirements.
Read the guide
Taxes
See allGuide
Panama Double Tax Treaties and Exchange of Information
What double tax treaties are, how they apply, what happens if your country has no treaty with Panama and what tax information Panama exchanges.
Read the guideProcedure guide
Panama Tax Residency Certificate: How to Apply
How to request Panama's tax residency certificate from the DGI to apply a treaty or prove your residency: requirements, e-Tax 2.0 and processing time.
Read the guideGuide
Panama's Territorial Tax System
How territorial taxation and income tax work in Panama: which income is taxed, what other taxes exist and what changes if you move from another country.
Read the guide
Estate planning and inheritance
See allProcedure guide
Making a Will in Panama as a Foreigner
Which types of will Panamanian law allows, how to make one before a notary, why it matters if you own assets in Panama and how to coordinate it with yours.
Read the guideProcedure guide
Probate in Panama: How to Handle an Inheritance
How to inherit assets in Panama: testate or intestate succession, the competent court, documents and steps to distribution, including for foreign heirs.
Read the guide
Real estate
See allGuide
Buying Property in Bocas del Toro: Titled Land vs Possessory Rights
What to check before buying property in Bocas del Toro, Panama: titled land vs possessory rights, island and coastal rules, the border zone and due diligence.
Read the guideGuide
Buying Property in Panama as a Foreigner
What a foreigner can buy in Panama, how to check the title in the Public Registry, the steps of the purchase and the taxes you pay.
Read the guideProcedure guide
Residential Lease Agreements in Panama: Registration and Deposit
How a lease is registered with the MIVIOT Leasing Directorate, how the security deposit is lodged and recovered, and where to go if there is a dispute.
Read the guideGuide
Investing in Real Estate in Panama: Residency and Rentals
How to invest in Panama real estate as a foreigner: which residency options accept property, how rental income is taxed and short-term rental rules.
Read the guideProcedure guide
Registering a Property Purchase in Panama's Public Registry
What you need to register a property purchase in Panama's Public Registry: deed, taxes, clearance certificates, registration fees and steps.
Read the guideGuide
Renting a Home in Panama as a Foreigner
What landlords ask foreigners for, what a lease should include, how the security deposit works and how to avoid scams when renting a home in Panama.
Read the guide
Living in Panama
See allProcedure guide
Bank Reference Letter for Procedures in Panama
What the bank reference letter Panama's Immigration and banks ask for is, what «medium four figures» means, how long it is valid and how to legalize it.
Read the guideProcedure guide
Bringing Your Pet to Panama: Dogs, Cats and Ferrets
Requirements for entering Panama with a dog, cat or ferret: apostilled health certificate, vaccines, advance notice, airport inspection and costs.
Read the guideGuide
Cost of Living in Panama: Expenses to Plan For
Cost of living in Panama for foreigners: housing, health insurance, electricity, transportation, food, schools and taxes, and how it changes by area.
Read the guideGuide
Panama's Currency: The Balboa and the US Dollar
What currency is used in Panama, why the balboa and the US dollar circulate together and what a dollarized economy means for your income, savings and transfers.
Read the guideProcedure guide
Declaring Cash When Entering or Leaving Panama
When you must declare cash and other monetary instruments at Panama's border, how to fill in the traveler's sworn declaration and what happens if you don't.
Read the guideProcedure guide
Panama Driver's License for Foreigners: Converting Your License
How long you can drive in Panama on a foreign license and how to convert it at Sertracen once you are a resident: requirements, steps and cost.
Read the guideGlossary
Glossary of Panamanian Legal Terms and Procedures
What the Spanish terms in Panama's procedures mean: cédula E, paz y salvo, RUC, NIT, apostille, registered agent, possessory rights and more.
Read the guideGuide
Health Insurance and the Social Security Fund (CSS) for Foreigners in Panama
Who is covered by Panama's Social Security Fund, what options a foreigner who does not pay contributions has and what to check before buying health insurance.
Read the guideProcedure guide
Importing Household Goods to Panama
How to bring your belongings to Panama with the pensionado tax exemption: requirements, documents and customs steps.
Read the guideGuide
Living in Boquete, Panama: A Legal Guide for Expats
What expats should know before moving to or buying in Boquete, Panama: residency, homes and rural land, water rights, healthcare in David and daily life.
Read the guideGuide
Living in Coronado, Panama: What Expats Should Know
What expats should know before moving to or buying in Coronado, Panama: residency, condominiums and gated communities, public beaches and rentals.
Read the guideGuide
Moving to Panama from the US: A Legal Guide for Americans
What Americans need to know before moving to Panama: residency, documents from the US, US taxes and FBAR, Social Security, Medicare, banking and driving.
Read the guideGuide
Opening a Bank Account in Panama as a Foreigner
Which documents Panamanian banks ask foreigners for, what due diligence involves and what to consider before opening an account.
Read the guideGuide
Receiving Your Foreign Pension While Living in Panama
How to keep receiving your home-country pension in Panama: where to receive it, proof of life, social security agreements, taxes and the Pensionado Visa.
Read the guideGuide
Relocating to Panama: A Step-by-Step Checklist
A step-by-step checklist to relocate to Panama legally: choose your residency, prepare documents, file with a lawyer, then banking, housing and health.
Read the guideGuide
Retiree Benefits and Discounts in Panama
Which discounts and benefits Panamanian law grants to resident retirees and pensioners, and how to access them.
Read the guideGuide
Is It Safe to Live in Panama? What You Should Know
What safety is like in Panama for people moving there, which areas need more caution, how to act in a crime or emergency and what natural risks exist.
Read the guideGuide
Where to Live in Panama: Boquete, Coronado, El Valle and Bocas del Toro
Where foreigners live in Panama: Panama City, Boquete, Coronado, El Valle and Bocas del Toro, and what to check before renting or buying in each area.
Read the guide