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Panama visa options
Panama Country Guide
Everything you need to know about moving to Panama
Exploring visa, residency, and citizenship options for expats moving to Panama
Panama offers a number of attractive visa options for expats
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The Three Best Visa Options for Expats in Panama
Panama is extremely welcoming to American expats, and has some of the best visa options for Americans moving abroad of any country in the world. The three most popular visas are: 1) The Friendly Nations Visa, 2) the Pensionado Program, and 3) the Remote Worker/Freelancer Visa. You can see a high-level overview of what each of the visas has to offer up top, and see if it could be right for you down below.
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Panama did make several major changes to the Friendly Nations visa in August 2021, but those changes are reflected in this post.
Friendly Nations Visa
A visa for Americans able to invest and/or buy property worth $200,000+
Overview
The Friendly Nations Visa is…
a visa available to Americans and citizens of 49 other countries friendly to Panama, which allows holders to own businesses and do work in the country.
An earlier version of the Friendly Nations visa, pre-2021, was open to anyone able to invest $5,000 in starting their own company in Panama. Unfortunately changes were made in mid-2021 that made the visa more expensive.
The Friendly Nations visa does not require the visa holder to live in Panama. In fact, you only have to spend one day per two years in Panama to hold this visa.
If you want a second citizenship, Friendly Nations may be a great option.
Requirements
3 options:Â
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Work permit and employment by Panamanian company ORÂ
b. Property purchase in Panama w/ registered value of $200,000+. any financing must be with a Panamanian bank. OR
$200,000+ deposit into a 3-year fixed deposit account with Panamanian bank
Benefits
- All income earned outside of Panama is tax-freeÂ
One of the easiest and quickest ways to obtain permanent residency in a second country in the worldÂ
Live, work, travel freely within the countryÂ
No need to live in Panama: residency requirement is only 1 day per every 2 years
 If you gain tax residency in Panama, you can avoid U.S. tax on $108,700 of income
Who It Is Right For
The Friendly Nations Visa could be right for you if:
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you have $200,000 to invest in Panama and you either want to work or start a business in the country
you’re looking for a second citizenship that is tax-free and doesn’t require spending much time in country.
Can I Work?
Yes, this visa allows the holder to do business in Panama.
Panama's Pensionado Program
A visa for those with income for life of $1,000+ per month OR ability to invest $170,000 in Panama for 5 years
Overview
The Pensionado Visa is…
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likely the best retirement visa available to Americans anywhere in the world.
it offers incredible discounts on everyday expenses for those who are retiree-age
Even if you are younger, if you have steady non-employment income you can apply to take advantage of importation benefits and low taxes.
Requirements
Proof of financial independence via one of the following:
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Proof of dependable income (ie. pension or annuity) of $1000+/month OR $750/month if you buy property worth $100,000+ OR
Certificate of deposit showing deposit of $170,000 in a Panamanian bank for a 5-year fixed term
how that you can support yourself, either by demonstrating regular monthly income from a dependable source like a pension or annuity in the amount of at least $1,000/month, or by depositing $170,000 in a Panamanian bank account for a 5-year fixed term and showing a certificate of deposit.
If you purchase Panamanian real estate worth $100,000+ you can reduce the monthly income requirement to only $750/month.
Benefits
All benefits of the Friendly Nations visa AND
Import duties waived on up to $10,000 of personal goods ANDÂ
If 55+ as a woman or 60+ as a man, the following:Â
50% off entertainmentÂ
30% off public transportÂ
50% off hotel accommodation (30% on weekends)
25% off restaurant billsÂ
25% off utilitiesÂ
20% off doctors & specialistsÂ
15% off hospitals & clinicsÂ
10% off prescriptionsÂ
No duty on a new car every 2 yearsÂ
1% discount on personal mortgage rateÂ
15% reduction on closing costs for home purchase
All benefits of the Friendly Nations visa AND
Import duties waived on up to $10,000 of personal goods ANDÂ
If 55+ as a woman or 60+ as a man, the following:Â
50% off entertainmentÂ
30% off public transportÂ
50% off hotel accommodation (30% on weekends)
25% off restaurant billsÂ
25% off utilitiesÂ
20% off doctors & specialistsÂ
15% off hospitals & clinicsÂ
10% off prescriptionsÂ
No duty on a new car every 2 yearsÂ
1% discount on personal mortgage rateÂ
15% reduction on closing costs for home purchase
Who It Is Right For
The Pensionado Visa could be right for you if…
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you have stable monthly income of $1,000+/month
and/or you’re a 55+ woman/60+ man with $170,000 to invest in Panama for five years.
Can I Work?
No.
Remote Worker Visa
A visa for someone who wants to work remotely from Panama for up to 18 months
Overview
The Remote Worker Visa is…
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a new visa offered by Panama to attract remote workers and freelancers to spend 9 months (renewable for a total of 18 months) working from Panama
If you are employed by a company that allows remote work, you can apply with your employment contract and a letter from your company
If you are a freelancer, you can apply with proof of company ownership. In either case, you must show evidence of your ability to earn over $36,000 per year.
Requirements
All applicants must show proof of annual income of $36,000+. In addition:
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Remote work option: employment contract verification of remote work allowance OR
Freelancer/business owner option: proof of company ownership sworn declaration outlining business activities
Benefits
All income earned outside of Panama is tax-freeÂ
One of the easiest and quickest ways to obtain permanent residency in a second country in the worldÂ
Live, work, travel freely within the country
If you gain tax residency in Panama, you can avoid U.S. tax on $108,700 of income
Who It is Right For
The Remote Worker Visa could be right for you if…
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You want to spend up to 18 months in Panama while working remotely, being a digital nomad, or working for yourself
Can I Work?
Yes, this visa allows the holder to do business in Panama.
Browse our Panama Country Guide
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