For those who are looking to live in Panama on a long term basis there are a number of different visas and permits that can be applied for, depending upon an individual's circumstances.

The Turista Pesnionado is one of the most popular visas and is designed for those who want to retire to Panama. Those who are in receipt of a pension, either from their own government or privately, of a minimum of $500 per month can make an application for this type of visa. A pension statement will be enough evidence of this. This type of visa is indefinite but you will be required to provide proof of interest on an annual basis. Benefits for this type of visa include exemption from duty payments on household goods being imported into the country and exemption of duty if you need to import a car into Panama. Those who have residency with this visa cannot apply for citizenship.

Others might want to apply for a visa on the Reforestation programme which requires an investment of $40,000 (another level of investment is available at $80,000). An investor can obtain a visa not only for themselves but for a spouse and any dependent children too. The visa is renewed every year and after a period of five years an application can be made for citizenship of Panama. This may seem expensive but is a fairly popular route for obtaining citizenship of the country. An approved programme will provide a return on investment providing you can leave the money untouched for a minimum of ten years and any gains are not taxed in Panama. Both levels of investment give residency status, the larger investment after just one year. Applicants must provide a passport which is valid for a minimum of six months, a certificate from the police in your home country to declare that you do not have a criminal record, a marriage certificate if applicable, proof of investment and the relevant completed application forms. Fees are payable for each person who needs a visa.

Those who want to live in the country on a retired person’s visa but who are not in receipt of a pension may do so if they can prove that they have a private income. In order to qualify for this visa a lump sum would need to be deposited with the National Bank of Panama and be enough to provide a monthly income of at least $750 per month. This visa needs to be renewed every five years.

Those who are not retired, but who have independent means to support themselves can apply for a ‘person of means’ visa. They must be able to prove that they have a minimum of $200,000 of which $80,000 must be earmarked for the purchase of a home. The visa is granted for a period of one year in the first instance, but after one successful renewal it is considered to be permanent and gives the holder the right to apply for a local identity card. After a period of five years, the holder can make an application for citizenship.

Other expats who want to establish their own business can apply for an Investor visa or a Small Business Investor visa. Each carries a minimum level of investment and a requirement that a minimum number of native Panamanians are hired to work in the business. These visas are granted provisionally for a period of one year, but are permanent after being renewed successfully. After five years, an application can be made for citizenship.

For most visa applications a waiting time of between 1 and 2 months is applicable, although if incorrect information is supplied or documents are missing this can be much longer. Application forms can be obtained from the Panamanian consulate or embassy in an expat's home country. For the residents of some countries, a visit to Panama can be made on one of the 30 day tourist visas and the application made while they are in the country (this is not essential for some visas which can be applied for while still in the home country). Fees for each type of visa are different and are subject to regular reviews. A medical exam is not essential for a visa.