Friendly Nations or another Panama visa?
Friendly Nations fits you if you are a national of one of the 51 listed countries and have a job in Panama, real estate of B/. 200,000 or a fixed deposit of B/. 200,000.
If you live on a lifetime pension of at least US$1,000 a month, the Pensionado visa may suit you better, from any country. The Qualified Investor visa, rewritten in September 2026, asks for B/. 300,000 in new property or B/. 500,000 in resale property.
Side by side
| Friendly Nations | Pensionado | Qualified Investor | |
|---|---|---|---|
| Who can apply | Nationals of 51 listed countries | Any nationality | Any nationality |
| Economic tie | Job, real estate of B/. 200,000 or three-year deposit of B/. 200,000 | Lifetime pension of US$1,000 a month, US$750 with property over US$100,000 | New property B/. 300,000, resale B/. 500,000, securities B/. 500,000 or a five-year deposit |
| Main applicant government fees | B/. 250 fee plus B/. 800 deposit | Exempt from both | B/. 5,000 fee plus B/. 5,000 repatriation |
| First permit | Provisional for two years | Permanent | Set by Executive Decree 17 of 2026 |
- Executive Decree 226 of 2021, Official Gazette 29335
- Executive Decree 17 of 2026, Official Gazette 30613
- Executive Decree 320 of 2008, the immigration regulations· Full text
Executive Decree 416 of 2012 as worded by Executive Decree 226 of 2021; Executive Decree 320 of 2008, article 201; Executive Decree 17 of 2026, articles 4, 8, 9 and 11
If you also have a pension
If you are from a listed country and receive a lifetime pension of at least US$1,000 a month, you can choose. Pensionado spares you the B/. 250 fee and the B/. 800 deposit and gives you the retiree discounts of Panamanian law. Friendly Nations asks for a job or an investment instead of a pension, and a job needs a MITRADEL work permit. Our sister site explains Pensionado step by step.
Executive Decree 320 of 2008, articles 200 to 203
Qualified Investor after September 2026
Executive Decree 17 of 2026 replaced the old Qualified Investor rules and took effect on its publication in Official Gazette 30613 on September 16, 2026, not in October as some sites say. New property stays at B/. 300,000, resale property rises to B/. 500,000, securities stay at B/. 500,000 for five years, and a fixed deposit asks for B/. 750,000, or B/. 500,000 at Banco Nacional or Caja de Ahorros, for five years. The value that counts for property is the lower of the price paid and the commercial value, minus liens.
Executive Decree 17 of 2026, articles 4, 5, 8, 9 and 21
Italian citizens
Italy is not on the Friendly Nations list. Italian citizens have their own path to permanent residency under the treaty between Panama and Italy, regulated by Immigration Resolution 4803 of 2012. India, China and Russia are not on the list either.
Executive Decree 416 of 2012, article 2, as worded by Executive Decree 226 of 2021 and Executive Decree 16 of 2026; Immigration Resolution 4803 of 2012, Official Gazette 27010
Dual nationals
The decree speaks of nationals of the listed countries. It does not say which passport you must use if you hold two. Our practice is to file with the passport of a listed country and use that same nationality on every document.
Executive Decree 16 of 2026, article 1
Not sure which visa fits you? Tell us your nationality, your income and your plans, and we will compare the options for your case.
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