Retire in Panama with a Fixed Deposit. Everything About the Investor Visa with Delvalle & Delvalle

For many retirees seeking a peaceful, tax-friendly, and tropical destination, Panama offers one of the region’s most attractive permanent residency programs. The Retired Investor Visa, explicitly designed for foreign nationals who can generate a steady income from a fixed deposit, is a straightforward pathway to enjoying life in Panama long-term.

This visa provides the opportunity to reside indefinitely in the country and access Panama’s modern infrastructure, healthcare, and legal protections. Delvalle & Delvalle has helped hundreds of retirees navigate this process, offering expert legal guidance and personalized support from start to finish.

Whether you are planning your future abroad or looking to secure permanent residence in a stable, welcoming environment, this guide will walk you through every detail of the Retired Investor Visa.

What Is Panama’s Retired Investor Visa?

The Retired Investor Visa is a unique residency program the Republic of Panama offers to attract financially independent retirees. It is tailored for individuals who are no longer actively engaged in a professional career but have a reliable income stream, specifically from interest earned on a fixed deposit.

This visa grants the holder the right to reside in Panama indefinitely. Initially issued as a provisional residency for two years, it can be converted into permanent residency afterward, provided all legal conditions remain. Unlike other immigration programs, this visa is rooted in the applicant’s financial stability rather than employment or entrepreneurship.

The central requirement? A monthly income of at least US$2,000, generated solely from interest on a fixed-term deposit held in either the Banco Nacional de Panamá or Caja de Ahorros, and maintained for a minimum of five years.

Key Benefits of the Visa

Panama’s Retired Investor Visa offers several advantages that make it especially appealing to foreign retirees. Here are some of the most important benefits:

• Right to Reside Indefinitely: After two years of provisional residency, applicants can apply for permanent residency.
• No Age Restrictions: Unlike some retirement visas, there is no minimum age requirement as long as income criteria are met.
• Bring Your Family: Dependents (spouse and children under 25) can be included in the application.
• Simple Financial Structure: The only income required comes from a fixed deposit, not complex investment portfolios or pension funds.
• Tax-Friendly System: Panama taxes residents only on local income; foreign income (including interest earned abroad) is tax-exempt.
• Access to Local Services: Enjoy Panama’s healthcare system, banking, infrastructure, and stable economy.

This visa is ideal for those who want financial security, legal stability, and the opportunity to enjoy Panama’s quality of life without unnecessary bureaucracy.

Eligibility Criteria

To qualify for Panama’s Retired Investor Visa, applicants must meet specific financial and legal requirements. The main eligibility conditions include:

• Proven Retirement from Active Business Life: Applicants must no longer actively engage in professional or business activities.
• Minimum Monthly Income: The applicant must generate at least US$2,000 per month, exclusively from interest earned on a fixed-term deposit.
• Source of Income: The fixed deposit must be placed in Banco Nacional de Panamá or Caja de Ahorros, and it must be:
  • Free of any liens or encumbrances
    Established for at least five (5) years
• Clean Criminal Record: Applicants must provide police and criminal records from their country (or place of residence) covering the past two years.

These criteria ensure that applicants are financially stable and pose no security risk to Panama, aligning with the country’s immigration policies to attract responsible and economically self-sufficient residents.

Visa Requirements

Applicants must gather and submit precise documents to apply for the Retired Investor Visa. These must be authenticated and meet Panama’s legal standards:

• Police and Criminal Records: These are issued by the authorities in the country (or place) where the applicant has resided for the past two years. A Panamanian consulate must duly stamp, seal, and authenticate them.
• Original Passport: Must be valid for at least six (6) months from the date of application.
• Four (4) Passport-Sized Photos
• Certification from the Bank (Banco Nacional de Panamá or Caja de Ahorros): This must confirm:
  • The amount of the fixed deposit
  • The interest it generates
  • The duration of the deposit (minimum five years)
  • That the deposit is unburdened (i.e., no debts or liens)
• Bank-Authenticated Copy of the Fixed Deposit Certificate

For applicants with dependents, additional documentation is required:

• Increased Investment: An additional US$2,000 must be deposited for each dependent. This should be supported by a local bank reference letter.
• Marriage and Birth Certificates: The spouse and any financially dependent children under 25 must have these sealed and authenticated by a Panamanian consulate.
• Letter of Responsibility: A document taking legal and financial responsibility for the dependents (Delvalle & Delvalle provide a ready-to-use template).

Proper preparation of these documents is key to a smooth application process, and Delvalle & Delvalle’s legal team ensures every detail is taken care of.

Application Timeline and Process

Obtaining the Retired Investor Visa in Panama is straightforward but requires attention to detail at every step. Here’s how it works:

Step 1: Initial Consultation

Start by consulting an immigration attorney like those at Delvalle & Delvalle to review eligibility, prepare the required documents, and establish the fixed deposit account.

Step 2: Submission of Application

Once all documents are collected and authenticated, the application is submitted to Panama’s National Immigration Service.

Step 3: Temporary Residency Granted

If approved, the applicant receives a provisional residency permit valid for two (2) years. During this time, the applicant can live in Panama legally while the authorities assess continued eligibility.

Step 4: Apply for Permanent Residency

After the two-year provisional period, the applicant can apply for permanent residency if all the original conditions remain in place (especially the active fixed deposit).

Step 5: Cedula Issued (Optional)

Once permanent residency is granted, the applicant may request a Panamanian cedula, which is an official national ID for residents.

The timeline may vary slightly from start to finish, depending on how quickly documents are collected and processed. Still, with legal support from Delvalle & Delvalle, most applicants find the process efficient and well-managed.

Important Notes for Dependents

One of the attractive features of the Retired Investor Visa is the ability to include dependents—spouse and children under the age of 25—in your residency application. However, there are specific rules to keep in mind:

• Increased Investment Requirement
  The primary applicant must increase the fixed deposit by an additional US$2,000 for each dependent, ensuring the financial means to support each dependent.
• Age Limits for Children
  Children must be under 25 years old and economically dependent on the applicant. This means they cannot work full-time or independently.
• Required Documentation for Dependents
  • Marriage Certificate for spouses
  • Birth Certificates for Children
  • Letter of Responsibility signed by the principal applicant (Delvalle & Delvalle provides a legally approved version)
  • Local Bank Reference Letter confirming the total increased deposit
• Authentication Is Key
  All documents for dependents must be official, legalized, and authenticated by a Panamanian Consulate in the country of origin.

By meeting these requirements, the entire family can enjoy legal residency in Panama, providing peace of mind and the opportunity to build a life together in a stable, welcoming country.

The Retired Investor Visa is an innovative, secure, and accessible way to enjoy all the benefits of living in Panama. With minimal requirements and a clear pathway to permanent residency, it offers retirees a stable and welcoming environment to enjoy the next chapter of life.

From its tax-friendly policies to its modern infrastructure and tropical lifestyle, Panama remains one of the most attractive destinations for foreign retirees. The visa, with the added possibility of including dependents, provides a real opportunity to relocate as a family.

Working with experienced professionals like Delvalle & Delvalle ensures that your application is handled with care, precision, and legal expertise. From day one to permanent residency—and beyond—they’ll be by your side every step of the way.

If you’re ready to make Panama your new home, this visa could be your perfect path.