Moving to Panama from New Zealand

More than US$37,000 a year: Income from abroad under Executive Decree 198 of 7 May 2021 must be a set minimum a year, or the equivalent in another currency, from a foreign source. The balboa is used at par with the US dollar. To be safe, have more than US$37,000 a year. The letter from your employer (or, if you are self-employed, a sworn statement about your clients) must also show a set minimum of monthly income, paid from abroad (to be safe, have more than US$3,100 a month). You prove the foreign source with a bank certificate or foreign bank statements with the bank's seal. The visa lasts nine months and can be renewed once for nine more. You must sign a sworn statement that you accept no work or service offer in Panama, and the visa is cancelled if you come to represent the foreign company for local activities.

You get two years of provisional residence, then permanent residence, on the basis of one of three things: a job with a Panamanian company (you and the employer must also get a work permit from MITRADEL); property in your name or your company's name worth a set minimum (to be safe, have more than US$210,000), which can be bank-financed; or a fixed-term deposit at a set minimum (to be safe, have more than US$210,000) held free of liens for three years. Migración's checklist asks for certified cheques of B/.250 and B/.800. Pensionado: a lifetime pension with a monthly minimum (to be safe, have more than US$1,100 a month) from a foreign government, an international body or a private company. The monthly minimum is lower if you buy property worth over a set minimum (to be safe, buy for more than US$110,000), where the checklist says a lower monthly minimum. Spouses can combine pensions, each dependant adds a monthly amount (to be safe, add more than US$300 a month for each) to what you must show, and the permit has no end date. We found no guidance on whether NZ Super or a KiwiSaver withdrawal counts as a pension for this purpose, so ask Migración. Qualified investor (Decree 17 of 8 September 2026, in force on promulgation in the Gaceta of 16 September 2026): the options are a first-sale (new) property at a set minimum (to be safe, have more than US$310,000); a resale property at a higher set minimum (to be safe, have more than US$510,000); a set minimum in securities through a licensed broker (to be safe, have more than US$510,000), held five years; or a five-year fixed deposit, a set minimum in a private bank (to be safe, have more than US$760,000) or a lower set minimum in Banco Nacional or Caja de Ahorros (to be safe, have more than US$510,000). The funds must come from abroad. It replaces Decree 722 of 2020. Migración's site still lists older own-solvency checklists with their own set minimum (to be safe, have more than US$310,000) that we did not compare with the new decree.

All applicants sign a sworn statement that they accept no work or service in Panama. You prove foreign income with a bank certificate or a foreign bank statement showing the transfer, with the bank's authentication seals. Documents issued abroad must meet article 247 of Decree 320 of 2008, which we did not read, so ask Migración whether an apostille and a Spanish translation are needed. Panama is an apostille country on the Department of Internal Affairs list, which charges NZ$37 for each apostille and aims to process it within 15 working days. The checklist is filed through a Panamanian lawyer; we found no page saying the visa can be requested at a Panamanian mission. New Zealand's list shows Panama's embassy in Canberra and an honorary consul in Auckland, open by appointment. The fees we found are the same for every nationality. For the remote-worker visa the payment to Migración is B/.250 and the card costs B/.50 (the card fee is stated as B/.50 in the decree). We found no published processing time for the remote-worker visa or for friendly-nations residence, so they are unknown. For the qualified-investor route the decree allows the Ministry of Commerce and Industries 15 working days to issue the investment certificate, and Migración 30 working days after a complete file, and it allows filing before you enter Panama through a lawyer. Migración's checklists open with a notarised power of attorney, so filing normally goes through a Panamanian lawyer; we did not price one.

The visa is an immigration status and does not itself set your tax treatment. We found no Dirección General de Ingresos page saying whether pay for work you do physically in Panama for a foreign employer counts as foreign-source, so that is unknown: ask a Panamanian adviser before you rely on it. Meanwhile New Zealand keeps taxing you on your worldwide income until you stop being a New Zealand tax resident, whatever Panama does.

For taxable Panamanian income, the Tax Code rates for individuals (Law 8 of 2010) are 0% up to B/.11,000, 15% on the part from B/.11,000 to B/.50,000, then B/.5,850 plus 25% above B/.50,000; we read the 2010 text and did not check later amendments. Law 926 of 28 May 2026 adds economic-substance rules for entities in multinational groups and, in the articles we read, does not address individuals.

Until then, New Zealand taxes your worldwide income, including income not brought into New Zealand; you file an IR3 with the IR1261 overseas income summary (due 7 July unless you have a tax agent), and can claim a credit for foreign tax you paid. If you leave permanently, file an IR3 or ask for an assessment, and tell your New Zealand bank so the right non-resident withholding tax is deducted.

We found no official page saying whether remote-worker visa holders or residents must enrol with Panama's social security fund (CSS), or how any contributions would interact with New Zealand deductions, so that is unknown. This describes the mechanism, not your bill.

If you already get NZ Super, you may be able to keep it overseas, at a rate based on the months you lived in New Zealand between ages 20 and 65 out of 540, if you apply at least six weeks before leaving.

SafeTravel advises comprehensive travel insurance that covers medical evacuation for serious illness or injury, and says medical services in Central or South America can be limited. We found no priced insurance quote and no official page on CSS enrolment for foreigners, so those costs are unknown.

For tax you can ask the Dirección General de Ingresos for a free tax number (NT) online, with your passport, a migration movement record and proof of taxable income or an accountant's certificate; documents from abroad must be apostilled and in Spanish.

We found no official page on opening a bank account for a new resident, so the requirements are unknown. For the visa you prove foreign income with a bank certificate or statements. If you become a non-resident taxpayer, update your New Zealand bank so the right withholding tax is deducted, and if you get NZ Super, contact Work and Income at least six weeks ahead.