Panama Residency Visa Routes in 2026 and What Each One Actually Costs

PANAMA · RESIDENCY

Friendly Nations no longer leads to permanent residency in a few months. A Panama residency visa now comes with a price tag, a waiting period, or both.

A Panama residency visa is not one document. It is a set of doors, and since 2021 the widest of them has carried a price of US$200,000.

The year the wide door narrowed

Panama spent a decade with the easiest residency rule in Central America. Citizens of dozens of friendly countries could file once and hold permanent residency soon after.

Executive Decree 197, signed on 7 May 2021, ended that arrangement. Executive Decree 226, from 20 July 2021, amended it and brought the list of eligible nationalities to fifty.

The international law firm Dentons put the start date at 18 August 2021, ninety days after enactment. Other Panamanian practices date the first filings under the new rules to early August.

Five years later, commercial relocation sites still describe the version that existed before. A reader comparing pages can find the same visa presented as two different products.

The rule that changed is the one that mattered most. Friendly Nations no longer grants permanent residency at the start; it grants two years of provisional status first.

What Friendly Nations asks for now

There are three ways in, and each one has to be shown on paper. The applicant proves an economic tie to Panama, not merely a friendly passport.

The first is employment with a Panamanian company, with a work permit behind it. This is the only route that does not require capital.

The second is the purchase of Panamanian property worth at least US$200,000. The title has to be registered in the applicant’s own name.

The third is a fixed-term deposit of at least US$200,000 in a Panamanian bank holding a general licence. The deposit is locked for a minimum of three years.

After two years of provisional residency, the holder applies for the permanent card. The economic tie has to survive that waiting period intact.

The pensioner’s arithmetic

Panama’s Pensionado permit is the route that asks for the least money and the most permanence. It wants a pension, and it wants that pension to be for life.

The threshold is US$1,000 a month from a guaranteed lifetime pension or annuity, with US$250 more for each dependent. A state pension, a corporate pension or a lifetime annuity all qualify.

Owning Panamanian property worth US$100,000 or more lowers the monthly figure to US$750. The property has to be titled in the applicant’s personal name.

What Pensionado does not accept is savings, rental income or a portfolio that could stop. The word that governs the file is lifetime.

The permit carries a discount schedule written into Panamanian law in 1987. It includes 25 percent off restaurant bills, 20 percent off doctor visits and 50 percent off hotel rooms from Monday to Thursday.

For a retiree on a modest fixed income, those discounts are not decoration. They are the difference between a budget that holds and one that slowly does not.

The half-million-dollar door and its long exception

Executive Decree 722, dated 15 October 2020, created the Qualified Investor permit. It is Panama’s fast route, and it was priced accordingly.

Decree 722 set its headline thresholds at US$500,000 in real estate or in securities through a Panamanian brokerage. A fixed-term bank deposit had to reach US$750,000, and the money has to come from outside Panama.

The US$300,000 figure was in Decree 722 from the start, as a temporary exception. Executive Decree 109, of 13 October 2022, extended that exception from 24 to 48 months, carrying it to 15 October 2024.

Executive Decree 193, of 15 October 2024, kept it in place. Decree 109 also brought in notarised purchase pre-contracts and escrow agreements.

Through 2026, immigration practices from Kraemer & Kraemer to ExpatDen have told readers the discount ends on 15 October 2026. After that date they expect the property route to return to US$500,000.

Decree 193 itself names no expiry date, and the ministry has published nothing either way. Advisers are selling a deadline that no decree has written down.

The decree promises a decision within thirty working days. Practitioners in 2025 and 2026 describe something closer to forty-five or sixty business days in real files.

Work, marriage and the slow routes

Most people who move to Panama do not buy their way in. They are hired, or they marry, or they follow a family member.

The employment route runs through a work permit sponsored by a Panamanian employer. It is the route most tied to one job, and the one most easily lost with it.

Marriage to a Panamanian citizen starts with provisional residency, not permanent. The Civil Registry has to record the marriage, and the couple has to show that it is real.

Permanent status follows after two years of that provisional stage. The clock toward a passport only starts when permanent residency is granted, not on the wedding day.

Panamanian law does not publish a single statutory timetable for the work-permit path to permanence. What the law does fix is the destination, and the sequence in which it is reached.

How long the file actually takes

Panama’s immigration service does not advertise a service-level promise for Friendly Nations. The times that circulate come from the practices that file the applications.

Panamanian firms publish different figures. Estimates in 2026 run from about 30 to 90 business days for a complete file.

Some practices still quote three to six months. Regional offices outside Panama City run slower than the capital.

Document gathering adds two to four weeks before any of that, and the physical card adds two to eight weeks after. The filing window is only the middle of the process.

No firm’s published figure supports a twelve-month norm for 2022, so the size of the improvement is not established. A queue that shortens once can lengthen again, and Panama’s has done both within five years.

The costs that nobody advertises

The investment thresholds are the published part of the price. They are not the whole of it.

Every Panamanian residency file carries government fees and a repayment deposit lodged with the immigration service. A lawyer is required rather than optional, and apostilles and certified translations sit on top.

Panama’s immigration service does not keep a plain-language fee schedule in front of the public. Applicants learn the total from their lawyer’s quote, which is where the variation lives.

Two quotes for the same permit can differ by thousands of dollars without either being wrong. The fixed part is the state’s; the moving part is the firm’s.

The one defence is to ask for the breakdown in writing before signing. A firm that will not separate its fee from the state’s fee has told you something.

A residency card is not a tax residency

Holding Panamanian residency does not by itself make anyone a Panamanian taxpayer. The two systems count differently, and they are run by different offices.

Panama’s tax authority applies a presence test of more than 183 days in a fiscal year. Those days need not be consecutive, and exceeding the limit carries the status into the following year.

Panama taxes on a territorial basis. Income earned from activity inside the country is taxable; income earned from sources outside it generally is not.

That is the feature the country is chased for, and the one most often described loosely. Territorial treatment is a Panamanian rule, and it says nothing about what another country will ask of the same person.

A retiree from Berlin or Denver still answers to their own tax authority. Panamanian residency changes where they live, not automatically where they are taxed.

Five years, then a decision that is not automatic

Permanent residency is a status, not an endpoint. Panamanian law opens naturalisation after five years of holding it.

The clock starts on the date immigration issues the resolution granting permanent residency. Marriage to a Panamanian citizen, or being the parent of a Panamanian child born in Panama, shortens the wait to three years.

Nationals of Spain and of Latin American countries may apply after one year. That is the shortest route Panamanian law offers, and it rests on nationality rather than money.

Counted from a Friendly Nations filing, that is two years of provisional status, then five more. Seven years is the honest answer to a question usually answered with five.

Panamanian citizenship is granted, not earned by arithmetic. Meeting the years makes an application possible rather than certain.

For most people considering the move, the useful frame is the first door rather than the last. Panama has made the wide one narrower and the expensive one cheaper, and both changes still have room to move again.

More: Panama news in English

Sources: Dentons, Kraemer & Kraemer, Panama Ministry of Commerce and Industries (Decree 722 text), ExpatDen, Paralelaw, Iverex Global, Lawzana, Panama Law 6 of 1987 via APAP. https://www.dentons.com/en/insights/articles/2021/june/3/panama-modifications-to-the-migratory-category-of-friendly-nations and https://mici.gob.pa/wp-content/uploads/2021/10/de-722-english.pdf and https://kraemerlaw.com/en/articles/executive-decree-n-109-of-october-13-2022/ and https://www.expatden.com/panama/panama-qualified-investor-visa/ and https://www.apap.gob.pa/docs/Ley6-1987.pdf and https://www.paralelaw.com/en/blog/panama-friendly-nations-visa-2026-guide/