If you want to visit Panama and see all the mesmerizing beauty the country offers, you may have to get a Panama Visa.  

Who Needs a Visa for Panama?

Citizens of the countries listed below do not need visas to enter and visit the Republic of Panama. They are eligible to enter the country with just a valid passport.

*Everyone else needs to apply for a Panama visa before travelling and visiting the country.

How to Apply for a Panama Visa?

To apply for a Panama visa, you must:

1. Contact the Nearest Embassy or Consulate of Panama in Your Home Country. First, you need to contact the nearest embassy or consulate of Panama in your home country and book a visa appointment. Your visa appointment will allow you to have an easier application process.
2. Fill Out the Application Form.You can obtain a Panama application form at the embassy or consulate of Panama in your home country, or you can find the Panama application form online at the official page of the Panama embassy.
3. Gather and Submit the Required Documents. Make sure you gather all the required documents. See ‘Panama Visa Requirements’ for further information regarding the requested documents. Remember that any missing document can lead to your visa refusal, so make sure you submit all the required documents.
4. Wait for a Response. After fulfilling all the requested steps, you must wait for a response from the embassy/consulate of Panama to which you have submitted the documents. They will send you an SMS or email within three days after submitting the documents with your visa result.

Note: If your visa is granted, you need to personally go to the embassy of Panama and get the stamp on your passport.

Panama Visa Requirements

Here are all the documents needed when applying for a Panama visa:

• Passport. Your passport must be valid for at least one year after the return date from Panama to your home country.
• Panama visa application form. Fully completed the Panama application form and sign it at the end.
• Fee payment. Finish the fee payment at the nearest embassy or consulate of Panama in your home country when submitting the additional documents. After finishing the payment, attach the receipt of the payment to other documents.
• Two passport-sized photos. You must take your photos recently, at least within the last six months.  
• Travel insurance. You need valid travel health insurance which covers any medical expenses while in Panama.  
• Bank statement. Your bank account statement is a document issued from your bank that must prove that you are financially stable and can finance yourself while in Panama. You must have in your bank account no less than $500. 
• Hotel or Air BnB reservation. This document must prove that you have a place to stay in Panama.   
• A letter of invitation from a friend or a family member of Panama. This document is required if a friend/family memberwill host you during your trip to Panama.
• Booked flight ticket. A return flight ticket must confirm that you will return to your home country after your visa expires.
• Criminal record. Proof from the police authorities in your home country proves that you are not a threat to the Republic of Panama.

If you are a minor, your visa application should be submitted by your parent or legal guardian.

Note: All the requested documents must be translated into Spanish. 

Duration of a Panama Visa

The duration of a short-term Panama visa is 90 to 180 days. You must apply for a temporary residence permit if you want to stay longer than 90 to 180 days in Panama. The temporary residence permit is issued for two years. 

After staying for two years with a temporary residence permit, you can apply for a permanent resident permit. 

Important: The duration of a Panama short-stay visa depends on the nationality they come from.

Panama Visa Fees

The Panama visa fees can change depending on the country you apply from. For example, if you apply from the US, the Panama visa fee is US$50. 

So, before applying for a Panama visa contact the nearest embassy/consulate of Panama in your home country and ask them regarding the visa application fee payment.

Stamped Visa for Panama

If you are a citizen from one of the countries listed below, you will only need a stamped visa: 

To apply for a stamped visa you will need to send all the same documents as listed above at the ‘Panama Visa Requirements’. The processing time for a stamped visa is 30 working days. 

*If your visa is granted, you need to personally go to the embassy of Panama and get the stamp on your passport.

Residence Permit for Panama

In Panama, you have different residence permits you can apply for depending on the purpose of your stay in the country:

• Panama’s Pensioner (retirement).
• Friendly Nations.
• Professional Employment.
• Panama’s Reforestation Investor.
• Self-Economic Solvency.
• Qualified Investor Program.
• Business Investor.
• Married to a Panama Citizen.
• Parents of Child Born in Panama. 

Panama’s Pensioner (Retirement) Visa

The Republic of Panama offers an incredible opportunity for those who want to retire. With a low government tax and price discount for foreign retirements and different benefits, Panama has been rated as one of the countries with the best retirement program in the world. For further information regarding the Panama pensioner program, see ‘Retirement Visa of Panama’.

Panama Digital Nomad Visa

Panama is known for being one of the most popular destinations for digital nomads. You must obtain a Panama Digital Nomad visa if you’re a foreign freelancer or remote worker aiming to develop your digital nomad career journey in such country.

Panama Friendly Nations Residency Program

Citizens from the countries listed below are considered friendly nations. So, if you are a citizen of one of these countries, you and your family members can move to Panama and apply for a residence permit there:

*When applying for a residence permit with the Friendly Nations residency program you will be issued a two-year temporary residence permit. After staying in Panama for two years, you can apply for a permanent residence permit. 

Professional Employment

If you are a foreigner working in a professional company in Panama and are financially stable, you can pay taxes and have a college degree. That means you are eligible to apply for a residence permit by professional employment.

Panama’s Reforestation Investor

To apply for a Panama Reforestation Investor residence permit, you must meet the following criteria. You must be able to invest in a reforestation project that is certified by the government with a minimum amount of:

• $80,000  – you will be granted a temporary residence permit valid for five years. 
• $100,000  – you will be issued a temporary residence permit valid for two years. After two years in Panama, you can apply for a permanent residence permit.
• $350,000 – you will be issued a permanent residence status within only 30 days.

Important: All the investments must be held in Panama for five years. After five years, you can transfer your investment in your name to the name of any company, corporation, or foundation in Panama. 

The Qualified Investor Program

You have three options on how you can obtain a residence permit through the qualified investor program:

• Invest in a property in Panama for an amount of $300,000. 
• Invest in a Panama stock market through a qualified and licensed Panamanian securities brokerage firm. The investment must be valid for five years.
• Invest an amount of $750,000 in a bank in Panama at a time deposit in five years.

Important: After 15 October 2022, the minimum requested investment in a property will be increased to $500,000. 

Business Investor Program

To apply for a Panama residence permit with the business program, you need to make a minimum of $160,000 investment in the capital stock of any Panama corporation.

Married to a Panama Citizen

You can obtain a residence permit in Panama if you are married a Panama citizen. After being married, you may apply for a permanent residence status.

Parents of Child Born in Panama

Foreign parents of a foreign child born in Panama and over the age of five may apply for a permanent residence permit.

Why Should You Visit Panama?

A beautiful country with amazing tropical beaches, interesting history and fascinating wildlife will offer you an unforgettable experience. Here you will find a list of other facts about why you should visit Panama:

• Panama is the safest country in Central America.
• In Panama, you will experience summer for the whole year.
• You can experience different adventures such as sailing, hiking in the jungle, kayaking different types of water sports, experiencing the wild nightlife, watching the sunrise, bike riding etc.
• Panama has a beautiful culture.
• The country is known for its history.
• You can visit different types of small islands and private beaches.
• It is very affordable to visit Panama.
• Locals are very friendly.
• It is known for being the most popular destination for retirement.
• Panama is known for growing the best coffee in the world.

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As one of Central America’s most popular tourist destinations, Panama is renowned for its financial sector, beaches, mountains, colonial and contemporary architecture, and booming economy.

Benefits of Working as a Digital Nomad in Panama

Working as a digital nomad in Panama has the following benefits:

• Affordable visa application. In comparison with other countries that offer digital nomad visas, Panama has fairly affordable fees. The visa fees include $250 for the National Immigration Agency and $50 for the Visa Card.
• Extended stay. The Panama digital nomad visa is issued for nine months and can be renewed for another nine months.
• Tax-free. The Panamanian tax system has territorial taxation, under which digital nomads are not taxed on income from outside Panama. Upon staying in Panama for more than six months, you can apply for tax residency. As a result, you may be able to avoid paying taxes in your home country.
• Great internet connection. The Internet infrastructure in Panama is excellent. The country is connected to the rest of the world by several undersea fiber optic cables. Average Internet speeds across Panama are 20.44 Mbps for mobile Internet and 137.38 Mbps for fixed Internet.
• Tasty food. The cuisine of Panama is rich and diverse, just like its natural environment. Food in Panama reflects the country’s history: indigenous mixed with Spanish, influenced by the conquistadors’ arrival in 1501, topped off with Afro-Caribbean flavors. Some of the most popular foods include Guacho, Carimañola, Sancocho, Ceviche, Ropa Vieja, Tamal de Olla, and many more.
• Low living costs. In Panama, you will be living well for less. For a family of four, the estimated monthly costs are $2,399.70 without rent, and for a single person, the estimated monthly costs are $663.89 without rent. Some other costs include the following:
• Meal at an inexpensive restaurant – $6.50
• Meal for two people (mid-range restaurant, three-course) – $50
• Meal at McDonald’s – $7
• One-way ticket (local transport) – $0.35
• Monthly pass (regular price) – $30
• Basic utilities (electricity, heating, cooling, water, garbage) for 85m² apartment (per month) – $86.19
• Internet (per month) – $43.93
• Apartment (1 bedroom) in City Center – $730.15
• Apartment (1 bedroom) outside of Center – $428.33
• Apartment (3 bedrooms) in City Center – $1,291.94
• Apartment (3 bedrooms) outside of center – $825.79

How to Apply for a Panama Digital Nomad Visa?

To apply for a Panama digital nomad visa, you need to fulfill these steps:

1. Make an appointment with a Panama embassy or consulate. Applicants must make an appointment with the Panamanian embassy or consulate beforehand. You may have to apply at an embassy in a neighboring country, depending on your residence.
2. Prepare the required documents. The list of the required documents is in the section “Requirements for Panama Digital Nomad Visa”.
3. Go to the appointment. At the appointment, you need to fill out the application form physically and submit the required documents.
4. Pay the fees. The visa fees include $250 for the National Immigration Agency and $50 for the Visa Card.
5. Wait for approval. You have to wait for the approval. The whole process takes about thirty days.  

In addition to these steps, depending on your nationality, you might need to have a visa to enter Panama.

For more detailed information on how to apply for a Panama digital nomad visa, you should contact an embassy or consulate.

Note: The Panamanian immigration office is currently working to enable an online platform to process digital nomad visa applications. 

Requirements for Panama Digital Nomad Visa

The list of the documents required to apply for a Panama digital nomad visa are:

• A completed application form. You can get the application form at the nearest Panamian embassy or consulate.
• Valid passport. Panama requires a three-month passport validity from your arrival date in the country.
• Certified passport copies.
• Three passport-size photos. The dimensions of the photos must be 2 x 2 inches (51 x 51 mm). The head must be between 1 -1 3/8 inches (25 – 35 mm) from the bottom of the chin to the top of the head.
• Funds. You need to have enough funds to support yourself to return home after the expiration of the visa.
• Certificate of a clean criminal record. You can get your clean criminal record at the local police department.
• A copy of valid medical insurance. You need health insurance for digital nomads and remote workers who are living abroad to travel to Panama. The medical insurance needs to have coverage in Panama.
• Certificate of good health.  A certificate of good health is issued at the nearest hospital facility in your country.
• Affidavit of non-acceptance of any jobs within Panama. You can get an affidavit of non-acceptance of any jobs in Panama at your local courthouse. This affidavit means that your work needs to relate to operations outside the Panama territory.
• Proof of annual income. The annual income must be $36,000. In order to demonstrate sufficient income, bank certifications and bank statements are required.
• Applicants working for a foreign company need to submit:
• A letter signed by the company’s legal representative explaining:
• The role and function the applicant has in the company
• The applicant’s monthly income
• Work modality (how the work is done)
• Self-employed applicants must provide:
• Proof of the existence of the company outside Panama
• A sworn declaration that includes the following:
• The business activities they are engaged in
• The services they offer
• The nature of their clients
• Past revenue and projected revenue

Note: All documents issued abroad must be notarized and apostilled. 

How Long Can I Work in Panama as a Digital Nomad?

The validity of the Panama digital nomad visa is nine months and can be renewed for another nine months.

Processing Time For A Digital Nomad Visa in Panama

The whole process of application for a Panama digital nomad visa takes about thirty days. It may take longer if you are asked to submit additional documents or information.

How Much Does the Panama Digital Nomad Visa Cost?

The visa fees include the following:

• $250 for the National Immigration Agency
• $50 for the Visa Card

Paying Taxes as a Digital Nomad in Panama

Digital nomads do not have an income from the Panama territory, therefore, they are free from income taxes. Upon staying in Panama for more than six months, you can apply for tax residency. As a result, you may be able to avoid paying taxes in your home country.

The tax system in Panama is territorial. Residents are required to pay taxes on the income that comes from Panama. The personal income tax rate in Panama is:

• Annual income of up to $11,000 – 0%
• Over $11,000 up to $50,000 – 15%
• Over $50,000 – 25% (on the first $50,000 it is 15%, on the remainder 25%

The social security tax is assessed at a rate of 9.75% for employees and 12.25% for employers. The educational insurance tax is assessed at the rate of 1.25% for employees and 1.50% for employers.

Finally, there is no net worth, inheritance, estate, or gift tax in Panama.

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Panama offers foreign retirees one of the best retirement programs in the world. The Panama Pensionado program comes with great benefits for retirees. Foreigners who decide to join the retirement program in Panama need to apply for a retirement visa first.

Who Is Eligible for the Panama Pensionado Program?

To be eligible for a retirement visa in Panama, you must fulfill the following requirements:

• You must have a verifiable minimum monthly income of $1,000. This could be Social Security or other government retirement funds (military, state retirement, police pension,  etc.) or retirement from a private corporation.
• You must meet the age requirement. The retirement age in Panama is 62 for men and 57 for women. However, you can apply for a retirement visa even if you are not technically of retirement age, but you will not receive the full benefits of the Pensionado program.

Benefits of Pensionado Retirement Visa in Panama

Being amongst the best retirement programs worldwide, the Panama Pensionado Program offers you excellent benefits such as:

• You can live and enjoy your retirement in one of the safest countries in Central America.
• You will get exemption from import tax for household goods.
• You will have exemption from import taxes to import a new car every two years.
• You can get discounts on things like utility bills, airline tickets, medical fees, and entry fees for movie theaters and cultural and sporting events, etc., as follows:
  • 25% discounts on utility bills.
  • 25% discount on airline tickets and 30% on other transportation.
  • 15% discount on loans made in your name.
  • 1% reduction on home mortgages personal residence.
  • 20% discount on doctor’s bills and 15% on hospital services if no insurance applies.
  • 15% off dental and eye exams.
  • 10% discount on medicines.
  • 20% discount on bills for professional and technical services.
  • 50% discount on entrance to movie theaters and cultural and sporting events.
  • 50% discount at hotels from Monday to Thursday, 30% on weekends.

How To Apply For a Panama Retirement Visa?

If you meet the eligibility criteria, you can apply for a Panama retirement visa at the Immigration Office in Panama City. A step-by-step overview of the application process is as follows:

1. Travel to Panama. You can enter with a tourist visa or visa-free and change your immigration status later on.
2. Compile the document checklist. You must enclose all required documents, but the Immigration Office will inform you if any additional documents are needed.
3. Fill in the retirement visa registration form. You can get a registration form for the retirement visa at the Immigration Office. Then, attach it to the rest of your documents.
4. Submit the documents to the Immigration Office in Panama City. After your visa is issued, you have to go pick it up in person.

Applying  for a Panama Retirement Visa From Abroad

If you are applying for a Panama retirement visa from abroad, you must submit your application through an immigration lawyer in Panama – you cannot submit the application through the Panamanian consular offices.

The immigration office of Panama requires applications for a retirement visa to be submitted and verified through an immigration lawyer if it is not possible for you to submit it personally. This means you have to send your lawyer all the documents so they can submit the application on your behalf.

However, if your application is approved, it is generally a requirement that you have to pick up your visa in person.

Document Checklist for a Panama Retirement Visa

To complete your Panama retirement visa application, make sure you have all the following documents:

• A registration form. You can pick up the registration form at the Immigration Office in Panama.
• Original valid passport. Also include copies of your passport pages (including cover), notarized and authenticated by the Panamanian Consulate.
• Four photographs. The pictures must be 2-inch by 2-inch and taken on a light background.
• Health certificate issued by a Panamanian Doctor. Provide an official document that states your health status. The professional health specialist (doctor) must sign the certificate.
• Police records. You need police records issued by the authorities of your country of residence for the last five years authenticated by the Panamanian Consulate or by Apostille.
• Proof of your pension or income. You must submit a letter issued by a private company or public entity that states your condition of pensioner and the monthly amount you receive. The letter must be original and notarized.
• Proof of the received amount authenticated by an apostille stamp or the Panamanian Consulate.
• Sworn statement regarding your personal background. This is done in Panama through a lawyer.
• A bachelorhood certificate authenticated by the Panamanian consulate (applicable only if you are single).

How Can I Bring My Family With Me?

The Panama Pensionado retirement program allows you to bring your family with you. However, to bring your spouse or minor children, you must increase your minimum monthly income by $250 per family member.

You should also provide the following documents:

• Marriage certificate authenticated by apostille stamp or at Panamanian consulate.
• A notarized and authenticated police record of the last five years for each dependent.
• Children’s birth certificate authenticated by the Panamanian consulate.
• Passport copies.
• Four photographs of each family member.
• Health certificate issued by a Panamanian doctor.
• Sworn statement about personal background. (Must be done through a lawyer.)
• Letter of responsibility notarized and authenticated by the Panamanian consulate.

Note: Documents issued abroad must be authenticated by the consulate of Panama or Apostille stamp before submission to your lawyer in Panama.

Can I Become a Permanent Resident With a Panama Retirement Visa?

Yes, you can become a permanent resident in Panama with a Pensionado visa. Holders of the retirement visa are allowed to stay and retire in Panama for as long as they want to.

Once you obtain a retirement visa, you will be granted permanent residency and enjoy your retirement in Panama.

You can apply for Panamanian citizenship after five years of being a permanent resident of Panama.

How Much Do You Need to Retire in Panama?

The low cost of living in Panama will give you a comfortable life without spending much. For example, a retired couple can live well for less than $3,000 a month, including rent, whereas a single person can live well from $1,400 to $1,700 a month.

Keep in mind that your lifestyle and residence location play a huge role in your budget. For example, the cost of living in big cities is higher than in smaller cities or rural areas.

Healthcare for Retirees in Panama

The Ministry of Health and Caja de Seguro Social (Social Security System) fund the public hospitals in Panama. Therefore, the services in public hospitals are not completely free. However, according to Panama Law, retirees are given a discount on healthcare services (check the benefits above).

Both public hospitals and private clinics in Panama have qualified medical staff and specialists and are equipped with modern appliances.

Expats have access to public and private health insurance.

Caja de Seguro Social

Caja de Seguro Social is run by the Ministry of Social Development (MIDES). CSS is in charge of administering the national insurance program for pensions, health, unemployment, and labor accidents.

Retirees who have reached the required age (57 women – 62 men) are eligible to apply for Caja de Seguro Social under the “Old Age Pension” and benefit from the CSS services. Depending on your preference, you can always go with private health insurance companies.

Where to Retire in Panama?

The tropical beaches, history, and wildlife are just some of the reasons why Panama is one of the most popular favorite retirement destinations.

Here is a list of some of the best places you can retire in Panama.

Boquete

Known as “Panama’s Top Expat Havens” and home to over 23,000 people, Boquete is perfect for expats looking for a simple and quiet retirement. The favorable climate, healthy lifestyle, natural landscapes, music, and art attract retirees around the world to move to Boquete and live the rest of their lives.

Pedasí

If safety is your main concern when looking for a new home, then Pedasi is the ideal place for you. Pedasí has the lowest crime rate in Panama.

The rural region is surrounded by natural greenery and beautiful beaches and is perfect for people who love the ocean and fishing.

Torio

Torio is a small town on the Panamas Azuero peninsula with friendly people and a beautiful coastline. The town is famous for the fishing spots and surfing, but there are many more activities one can do during their stay, such as horseback riding, mountain climbing, etc.

If you decide to live in Torio, you will experience the feeling of nature and people uniting.

Santa Fe

Santa Fe is a great place to retire and enjoy the low cost of living and warm climate. The authentic town is perfect for a comfortable and simple life. As a retiree, you will enjoy the low cost of living, friendly environment, and stunning tropical location.

Bocas del Toro

For everyone who wants to spend a more luxurious retirement and feel like they are in the Caribbean but on a budget, Bocas del Toro must be your final destination. Bocas del Toro is home to over 400 expats. The beautiful province offers many daily activities and beautiful natural sights, so you can relax and live comfortably.

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