Panama Residency for Mexicans: Routes, the SAT and Wealth Planning

Mexican citizens received 604 approved residence permits in 2025, out of 33,262 approved in Panama. Source: National Immigration Service of Panama, residence permits 2025 (preliminary figures as of December 31, 2025; includes temporary, provisional, permanent permits and extensions).

Residency routes

• Friendly Nations: Mexico is on the official list (Executive Decree 416 of 2012, as amended by Executive Decree 16 of 2026). It is the Friendly Nations permit: an economic tie to Panama, such as an investment from USD 200,000 or a job contract with a Panamanian employer; it starts with a 2-year provisional residence before permanent status.
• Golden Visa: the Qualified Investor Golden Visa (Executive Decree 17 of 2026, in force since September 16, 2026): new real estate (first sale) from USD 300,000; resale real estate USD 500,000; securities USD 500,000; or a 5-year fixed-term deposit of USD 500,000 at Banco Nacional or Caja de Ahorros, or USD 750,000 at a private bank. Immigration resolves in up to 30 business days once the file is complete; that is a reference timeline, not a guarantee.
• Pensionado: the Pensionado (retiree) visa, open to all nationalities: a lifetime pension of at least USD 1,000 a month, or USD 750 if you buy your own property worth more than USD 100,000.

Filing requirements are summarized in this Panama visa guide for Mexican citizens (in Spanish). Mexican records are apostilled; any supporting document in English, such as US bank statements, needs a certified translation in Panama.

Mexican tax residency

Article 9 of Mexico's Federal Tax Code presumes, unless proven otherwise, that Mexican nationals are Mexican tax residents. To change residency you file a notice with the SAT within the 15 days before the change; without it, you do not lose Mexican residency. Nationals who move to a country where their income falls under a preferential tax regime remain resident for the year of the notice and the following five, unless that country has a comprehensive information exchange agreement and a mutual collection assistance treaty with Mexico. Mexico and Panama have a double taxation treaty; have a Mexican tax advisor confirm how the rule applies to you. Panama's territorial tax system generally leaves foreign-source income outside Panamanian income tax.

Succession planning

Most Mexican states allow freedom of testation, with support obligations toward certain relatives, and assets in Mexico follow Mexican succession. For accounts and investments outside Mexico, a Panama Private Interest Foundation (Law 25 of 1995, minimum initial patrimony USD 10,000) sets beneficiaries and conditions without a Panamanian probate. It is not absolute: transfers in fraud of creditors can be challenged, the beneficial owner is reported and the SAT may have its own rules on foreign structures.

Frequently asked questions

Can Mexicans apply for Panama's Friendly Nations visa?

Yes. Mexico is on the official list. You need an economic tie, such as an investment from USD 200,000 or a job contract, starting with a 2-year provisional residence.

How do I stop being a Mexican tax resident?

By filing the change-of-residence notice with the SAT within the 15 days before the change and proving your new tax residency. Without the notice you remain resident.

Does Panama tax my income from Mexico?

Generally no, since it is foreign-source income for Panama. Mexican tax depends on whether you remain a Mexican tax resident.

Is a Panama foundation useful for Mexican families?

It can organize the succession of assets outside Mexico, but review its treatment with the SAT and remember it does not protect transfers made in fraud of creditors.

This content is general information and does not constitute legal, tax or immigration advice. Requirements, amounts and timelines may change and depend on each case and on the authorities. Review your home-country tax position with a qualified tax advisor before acting.