The Pensionado Visa: Panama's Gift to Retirees

The Panama Pensionado Visa is widely regarded as the world's most generous retirement visa, and after going through the process ourselves we can confirm the reputation is well earned.

To qualify, you need a lifetime pension OR income of at least $1,000 USD per month or $1500 for a married couple ( this drops if you buy property over $100k) . NZ Super qualifies. Australian Age Pension qualifies. A KiwiSaver drawdown pension qualifies.  If we had known this 10 years ago we would have retired and left way back then.  

The benefits are extraordinary: 50% off entertainment, 30% off fares, 25% off restaurant meals, 15% off hospital bills, and 20% off medical consultations. There is also a one-time import allowance for household goods tax-free. You can import a new car tax free every two years ... we have not done this yet, but I am told its just a bit of paperwork to slog through.  

Permanent residency is granted from day one, and you are never required to pay Panamanian income tax on foreign-source income.

Two additional benefits that do not get mentioned often enough: Pensionado visa holders receive discount on property tax for their personal primary residence.  If you own any taxable properties and choose to pay the annual land tax in a single lump sum, Panama gives you an additional 10% discount off the assessed amount.

Pensionado holders also receive a 25% discount on electricity usage costs, which makes a meaningful difference if you run air conditioning through the wet season.

Our legal costs for the Pensionado visa for both of us as a married couple were well under NZD $2,000 in 2025. The process took approximately four months from start to approval. We used PTY Legal who operate their main office in Panama City and have another office in Chame ( 5 mins from Coronado on the Panamerican Highway ), Their immigration team handled everything, ensured documents were correct and filed it all on our behalf. Ms Kathyel kept us fully appraised of progress all the way through. The ease with which Tanya Coronado and   Kathyel's team dogmatically ensured there were no problems was palpable  and we recommend then wholeheartadly. Their service didnt end there . Ms Coronado handled our property purchase and her team handled the set up of our corporation and asset protection. Everything was a breeze. They are all exceptional professionals who give 200% effort and it shows in the results.  This blog is our way of saying " THANK YOU TEAM "