Panama offers multiple legal residency pathways for foreign nationals — from investment-based permanent residency to retirement and professional programs. This guide explains each option, who qualifies, what the process involves, and how Díaz, Shacalo & Asociados can assist you from start to finish.
Quick Answer: Panama’s main immigration programs for foreigners include the Qualified Investor Visa (under the 2026 rules, from US$300,000 for qualifying first-sale real estate and US$500,000 for resale property), the Friendly Nations Visa (for nationals of 50+ countries with economic ties to Panama), the Pensionado Visa (for retirees with USD $1,000/month pension), and the Panama–Italy Residency Program (for Italian citizens). Each program leads to lawful residency and, after five years, potential eligibility for Panamanian citizenship.
Table of Contents
- Panama Qualified Investor Visa
- Friendly Nations Visa
- Panama Marrakech Work Permit
- Pensionado Visa (Retiree Program)
- Panama–Italy Residency Program
- How to Get Permanent Residency in Panama
- Not Sure Which Visa Fits You?
- Legal Fees & Service Packages
- When to Speak With a Panama Immigration Attorney
- Why Work With Díaz, Shacalo & Asociados
- Frequently Asked Questions
Panama Qualified Investor Visa
The Panama Qualified Investor Visa — also referred to as the Panama Golden Visa — is a permanent residency program now governed by Executive Decree No. 17 of September 8, 2026 (published in Official Gazette Digital No. 30613 on September 16, 2026), which replaced Executive Decree No. 722 of 2020. It provides foreign investors with a direct, legally structured pathway to immediate permanent residency in Panama through qualifying investments in real estate, securities, or a fixed-term bank deposit.
Who Qualifies?
Foreign nationals of any nationality who make a qualifying investment in Panama. There are no nationality restrictions under this program.
Investment Options
| Investment Type | Minimum Amount | Holding Period |
|---|---|---|
| First-sale (new) real estate | US$300,000 | 5 years |
| Secondary-market (resale) real estate | US$500,000 | 5 years |
| Promise to purchase / under construction (trust or bank guarantee) | US$300,000 | 5 years |
| Panama securities market (licensed securities firm) | US$500,000 | 5 years |
| Fixed-term deposit — private general-license bank | US$750,000 | 5 years |
| Fixed-term deposit — Banco Nacional de Panamá or Caja de Ahorros | US$500,000 | 5 years |
Minimums are those of Executive Decree No. 17 of September 8, 2026 and are subject to its source-of-funds, valuation, maintenance and other requirements. Transitional rules may apply to certain investments and contracts perfected before the reform.
Key Benefits
- Immediate permanent residency upon approval — no provisional stage
- Statutory processing periods once a complete file is admitted (up to 15 business days for the investment certification and 30 business days for the migration resolution) — not a guaranteed approval date
- Spouse and qualifying dependents may be included
- Possible eligibility to apply for naturalization after five consecutive years of residence — a separate process that is not guaranteed
- Access to Panama’s international banking sector
- Panama’s territorial tax system — foreign-source income generally not taxed in Panama
→ View full service details: Panama Qualified Investor Visa
Friendly Nations Visa
The Friendly Nations Visa is one of Panama’s most widely used residency programs. Governed by Executive Decree No. 226 of July 20, 2021, it offers a residency pathway to nationals of countries that maintain recognized diplomatic, economic, and professional ties with Panama — currently over 50 countries worldwide.
Who Qualifies?
Nationals of designated friendly nations who can demonstrate an economic or professional connection to Panama — through employment, a Panamanian corporation, or real estate investment (minimum USD $200,000).
Program Overview
| Feature | Detail |
|---|---|
| Residency Type | Provisional (2 years) then Permanent |
| Economic Connection Options | Employment, Panama corporation, or real estate (min. USD $200,000) |
| Starting Legal Fees | USD $2,500 (main applicant) |
| Family Inclusion | Spouse and minor children eligible |
| Work Permit | Available after provisional approval |
→ View full service details: Friendly Nations Visa Panama
Panama Marrakech Work Permit
The Marrakech Work Permit is an employment-based immigration category for foreign nationals hired by a qualifying Panama company, under the framework recognized by Law 23 of 1997. It may be particularly relevant for foreign nationals who are not eligible under the Friendly Nations Visa or who do not yet have the capital required for an investment-based residence, provided a genuine employment relationship exists with a compliant Panama employer.
Who Qualifies?
Foreign nationals with a genuine job offer from a real, compliant Panama employer, including a minimum documented salary currently referenced at B/.1,000.00 per month under the official checklist.
→ View full service details: Panama Marrakech Work Permit for Foreign Employees
Pensionado Visa (Retiree Program)
The Pensionado Visa grants immediate permanent residency to foreign nationals who receive a qualifying lifetime pension or retirement income of at least USD $1,000 per month. It is widely regarded as one of the most favorable retirement immigration programs globally.
Program Overview
| Feature | Detail |
|---|---|
| Residency Type | Permanent from date of approval |
| Minimum Pension | USD $1,000/month (main applicant) |
| Pension Sources | Social Security, government pensions, qualifying private pensions |
| Starting Legal Fees | USD $2,500 (main applicant) |
| Retiree Discounts | National discount program on healthcare, restaurants, entertainment |
| Work Authorization | Generally not available under this category |
→ View full service details: Pensionado Visa Panama
Panama–Italy Residency Program
The Panama–Italy Residency Program is a specialized immigration pathway designed exclusively for Italian citizens seeking to establish legal residency in Panama. The program reflects the strong bilateral relationship between Italy and Panama.
→ View full service details: Panama–Italy Residency Program
How to Get Permanent Residency in Panama
Most Panama residency programs follow a structured legal process. While specific steps vary by program, the general pathway includes:
- Eligibility Assessment — Review of nationality, income, investment level, and chosen program with a Panama immigration attorney.
- Document Preparation — Passport, criminal background certificate (apostilled), health certificate, proof of economic connection, and program-specific documentation.
- Travel to Panama — Most programs require physical presence at filing for biometrics and submission at the National Migration Service. For the Qualified Investor Visa, the application may be filed through a special attorney-in-fact before arrival, but biometric registration must still be completed in Panama before a residency card is issued.
- Filing with the National Migration Service — The attorney submits the complete application on your behalf.
- Residency Card Issued — Immediate permanent residency or a provisional card (depending on the program) is issued.
- Permanent Residency (if applicable) — After the provisional period, permanent residency is applied for and granted upon continued compliance.
- Optional: E-Cédula — Approved residents may apply for Panama’s national electronic identification card.
Important: Processing timelines are determined by the National Migration Service and cannot be guaranteed. All foreign documents generally require apostille legalization and certified Spanish translation.
Not Sure Which Panama Visa Fits You?
Use our free interactive tool to identify the right Panama residency program for your situation in 60 seconds — no registration required.
→ Try the Panama Residency Matcher
Legal Fees & Service Packages
Our firm publishes transparent legal fee schedules for all immigration services. Government fees, apostille costs, translation expenses, and dependent applications are separate from professional legal fees.
→ View Panama Legal Fees & Service Packages
When to Speak With a Panama Immigration Attorney
Consult a qualified Panama immigration attorney before taking any of the following steps:
- Before making any investment in Panama for immigration purposes
- If you are unsure which program fits your nationality, income, or investment profile
- Before purchasing real estate intended as a qualifying investment
- If you have a criminal record, prior immigration issues, or complex family circumstances
- Before incorporating a Panama company for use as the required economic connection
- If you plan to apply for Panamanian citizenship after five years of residency
Panama immigration requirements are set by executive decree and can change. Working with a licensed attorney ensures your application is based on current law and properly documented from the outset.
Why Work With Díaz, Shacalo & Asociados
- Panama-Licensed Immigration Attorneys — All services are provided by attorneys licensed to practice law in Panama, familiar with current National Migration Service requirements.
- Bilingual Service (English and Spanish) — We serve international clients fully in both languages.
- Integrated Legal Services — Immigration, corporate structuring, real estate, and banking guidance available under one firm.
- Transparent Fee Structure — Our legal fees are published clearly at Legal Fees & Service Packages.
- Direct Attorney Access — Clients communicate directly with the attorneys handling their matter.
- Panama City-Based — Our main office is conveniently located on Avenida Samuel Lewis in Obarrio, one of Panama City’s principal business districts, providing a central location for clients handling immigration, corporate and relocation matters in Panama.
Schedule a Free Immigration Consultation
Our firm provides personalized immigration guidance for international clients relocating to Panama. Contact us to discuss your eligibility and begin the process with confidence.
Phone: +507 6612-4050
WhatsApp: +507 6400-9823
Email: admin@diazshacalo.com
Request a Consultation | Contact Us on WhatsApp
Frequently Asked Questions — Panama Immigration
What are the main ways a foreigner can get residency in Panama?
Panama offers several residency programs: the Qualified Investor Visa (under the 2026 rules, from US$300,000 for qualifying first-sale real estate or a promise to purchase, US$500,000 for resale property or the securities market, and US$750,000 or US$500,000 for a fixed-term deposit depending on the bank), the Friendly Nations Visa (nationals of 50+ designated countries with economic ties to Panama), the Pensionado Visa (retirees with USD $1,000/month pension), and the Panama–Italy Residency Program (Italian citizens). Each program has different requirements and timelines.
Can any foreigner apply for Panama residency?
It depends on the program. The Qualified Investor Visa and Pensionado Visa are open to nationals of any country. The Friendly Nations Visa is available to nationals of specific designated countries. Eligibility is assessed individually based on nationality, income, investment profile, and personal circumstances.
How long does it take to get permanent residency in Panama?
For the Qualified Investor Visa, Executive Decree No. 17 sets statutory periods once a complete file is admitted — up to 15 business days for the investment certification and up to 30 business days for the migration resolution — and permanent residency is granted directly, although approval dates are not guaranteed. The Pensionado Visa grants permanent residency typically within several months of complete file submission. The Friendly Nations Visa involves a two-stage process: provisional residency followed by permanent residency after two years. Timelines are set by the National Migration Service and cannot be guaranteed.
Do I need to live in Panama full-time to maintain residency?
Requirements vary by program. The Qualified Investor Visa does not impose strict full-time presence requirements. Other programs may have conditions affecting long-term residency maintenance and naturalization eligibility. Our attorneys provide specific guidance during the consultation.
Can I work legally in Panama with these visas?
It depends on the visa category. Friendly Nations Visa holders may apply for a renewable work permit after provisional residency. Qualified Investor Visa holders require separate work authorization. Pensionado Visa holders generally cannot obtain a standard work permit. Each case is assessed individually.
Can I include my family in my Panama residency application?
Yes. Most Panama residency programs permit inclusion of a spouse and qualifying dependents (minor children and, in some cases, full-time students up to age 25) within the primary applicant’s residency file. Each dependent requires additional documentation and government fees.
Do foreign documents need to be apostilled?
Yes. Official documents issued outside Panama — criminal background certificates, birth certificates, marriage certificates — generally require apostille legalization from the competent authority in the country of origin. All documents in languages other than Spanish must include a certified Spanish translation.
Can I apply for Panama residency without traveling to Panama?
Most programs require at least one visit to Panama for biometric registration and filing. For the Qualified Investor Visa, the application may be filed through a special attorney-in-fact before arrival, but biometric registration must still be completed in Panama. Some preparatory steps may be coordinated remotely. Our attorneys advise on current requirements and the travel schedule needed for each specific application.
Can I get Panamanian citizenship after residency?
After five years of lawful permanent residency, foreign nationals may become eligible to apply for Panamanian citizenship through naturalization, subject to applicable legal requirements. Naturalization is not automatic — it requires a separate application and compliance with naturalization conditions under Panamanian law.
What is the Panama Residency Matcher tool?
The Panama Residency Matcher is a free interactive tool that helps you identify which residency program may best fit your situation — based on nationality, income, investment level, and personal goals. It takes approximately 60 seconds and requires no registration. Use it as a starting point before scheduling a consultation.
Written by: Julio Enrique Díaz Escalante | Panama-Licensed Attorney | Real Estate Broker PN5940 | Mediator and Conciliator | Practice areas: Immigration, Corporate Law, Real Estate Legal Services, Asset Protection, Panama Residency
Legal Disclaimer: This guide is for general informational purposes only and does not constitute legal or tax advice. Immigration requirements, government fees, eligible country lists, and processing timelines in Panama may change without notice. Every case should be reviewed by a qualified Panama immigration attorney before any action is taken. Díaz, Shacalo & Asociados makes no guarantees of immigration outcomes or processing timelines.