Panama
Pensionado Visa · Americas
From
Income Required
Overview
Panama uses the US dollar, which makes budgeting simple for Americans living on Social Security or a US pension. Its Pensionado visa was designed with retirees in mind, has no minimum age, and can come with discounts on some everyday expenses. Panama City offers the most amenities, while Boquete offers cooler mountain living.
Example Cost of Living Breakdown
| Category | Monthly (USD) |
|---|---|
| Rent | $955 |
| Groceries | $510 |
| Transportation | $95 |
| Dining & Entertainment | $265 |
| Utilities & Other | $220 |
| Total Monthly Budget | $2,045 |
*Estimated monthly costs for a couple as of September 2026. Excludes healthcare. Your costs will vary by city and lifestyle.
Visa Requirements & Eligibility
Income Threshold
$1,000/month pension, plus $250 per dependent ($750/month if you own Panamanian property worth over $100,000)
Renewal
Indefinite, no periodic renewal
Requirements
- Proof of pension of at least $1,000/month
- Criminal background check
- Health certificate
- Passport photos
Step-by-Step Application Process
Prove Pension Income
Obtain an official letter confirming a lifetime pension of at least $1,000/month, such as Social Security, plus $250/month for each dependent.
Gather Documents
Collect your criminal background check, health certificate, and passport photos.
Verify Current Requirements
Immigration rules can change, so confirm the current process with Panama's National Immigration Service or your nearest Panamanian consulate before applying.
Submit Application
Submit your application to Panama's National Immigration Service.
Receive Residency
Once approved, Pensionado residency is indefinite and does not require periodic renewal.
Pros and Cons
Advantages
Uses US Dollar — no currency risk
No minimum age for the Pensionado visa
Indefinite residency with no periodic renewal
Modern infrastructure and healthcare
Strategic location — hub for travel
Considerations
Tropical heat and humidity year-round
Panama City can be expensive