Getting legal residency in Panama is usually a paperwork project, not a mystery. Most expats choose one of a few main residency paths depending on income, retirement status, or investment plans. Below is a simple breakdown of the most common options, typical requirements, and realistic cost ranges.
Before you start: what almost every residency application needs
Most residency categories share a similar document checklist:
- Valid passport (plus notarized copies)
- Police clearance (apostilled or authenticated, then translated to Spanish)
- Local health certificate from a Panamanian doctor
- Passport photos
- If applying with family: marriage certificate and birth certificates (also apostilled/authenticated and translated)
Many applicants also need a multiple entry visa if they plan to leave Panama while the application is processing (your attorney will guide you on timing and whether it applies).
The most popular residency options for expats
1) Friendly Nations Visa (most common for working age expats)
This route is for citizens of specific countries and now requires you to show real economic ties to Panama. A key update (Executive Decree 197 of 2021) is that Immigration may first grant a provisional residence permit for two years, and after that period you can request permanent residence.
How you show economic ties (common paths):
- Employment: a job offer and supporting company documents
- Real estate investment: property in your name with a minimum value of B/. 200,000 (USD 200,000) (financing may be possible)
- Bank deposit: some advisors cite a fixed-term deposit option (amounts can vary by guidance and updates), so confirm the current threshold with your attorney.
Typical government fees (commonly cited):
- USD 250 application fee (National Treasury)
- USD 800 repatriation deposit (Immigration)
Typical legal costs (ballpark):
- Often USD 1,500 to 3,500+ per adult, plus translations, notary, and document authentication. Costs vary a lot by firm and complexity.
Work note: Friendly Nations residency does not automatically let you work locally. A separate work permit process is usually required.
2) Pensionado (Retiree) Visa (most common for retirees)
This is one of the most straightforward paths if you have a lifetime pension.
Core requirement:
- Lifetime pension or retirement income of at least USD 1,000 per month, or USD 750 per month if you purchase property in Panama worth at least USD 100,000
- Some guidance also references USD 250 per dependent.
Typical government fees (often cited):
- Many sources reference USD 250 plus an USD 800 deposit during filing.
Typical legal costs (ballpark):
- Often USD 1,000 to 2,500+ per person, plus document prep and translations.
Work note: Pensionado is designed as a retiree residency, and many legal guides state it does not grant local work authorization. If working in Panama matters to you, discuss other categories with your attorney.
3) Digital Nomad (Short Stay Remote Worker)
This is popular for expats who want to live in Panama while working for foreign clients or a foreign employer, without jumping straight into permanent residency.
Core requirement (commonly cited):
- Foreign-source work and income of at least B/. 36,000 per year (USD 36,000).
This is generally a temporary stay option, not the same as permanent residency.
4) Qualified Investor Visa (Golden Visa style path)
This is a clean option for higher net worth buyers who want residency through investment. A major update (Decree 193 of 2024) set the real estate minimum at USD 300,000, and also outlines other investment routes like securities and bank deposits.
Common investment thresholds (widely cited):
- USD 300,000 in real estate
- USD 500,000 in securities
- USD 750,000 in a time deposit
Real estate angle: how residency choices can shape buying decisions
If your residency path is tied to property purchase, the price bracket matters:
- Friendly Nations often pushes buyers toward USD 200,000+ registered property values.
- Pensionado can make sense for buyers targeting USD 100,000+ property if they want the lower pension threshold.
- Qualified Investor starts at USD 300,000 for real estate.
For lifestyle fit, two of the most searched areas among expats include Boquete (highlands climate, mountain living) and Coronado (beach access near Panama City). You can explore them here:
- Boquete: https://www.casasolution.com/boquete/
- Coronado: https://www.casasolution.com/community/coronado-real-estate/
Quick advice to avoid delays
- Start your apostilles and police record early.
- Budget extra time for translations and notarizations.
- If your plan includes buying property, align the purchase structure with the residency requirement before you sign.
Need help choosing the right area while you plan residency?
Casa Solution Real Estate can help you match your residency plan with the right location and property strategy, whether you are looking for a retirement base, a second home, or an investment property.
Written on February 1, 2026
