Head to head
Pensionado Visa vs D7 Passive Income Visa
🇵🇦 Pensionado Visa (Panama) compared with 🇵🇹 D7 Passive Income Visa (Portugal) — across cost, timeline, residency, tax and the path to citizenship.
The verdict
- →D7 Passive Income Visa has the lower financial bar to entry.
- →Pensionado Visa requires less time in the country each year.
There's no single winner — the right choice depends on your budget, how much time you can spend on the ground, and whether a passport is the goal. Use the table below to weigh what matters to you.
| Feature | 🇵🇦Pensionado Visa | 🇵🇹D7 Passive Income Visa |
|---|---|---|
| Country | Panama | Portugal |
| Type | Retirement Visa | Retirement Visa |
| Headline cost | $1,000/mo lifetime pension | €920/mo passive income |
| Minimum investment | $1,000 | $920 |
| Minimum income | $1,000/mo | $12,000/mo |
| Processing time | 3 months | 3 months |
| Min stay per year | 0 days | 183 days |
| Tax rate | 0% | NHR 2.0 (IFICI): 20% flat tax on qualifying foreign income for 10 years% |
| Leads to PR | Yes | Yes |
| PR after | 0.0 years | 5.0 years |
| Citizenship after | 5 years | 5 years |
| Dual citizenship | Yes | Yes |
| Visa-free countries | — | — |
| Remote work | No | Yes |
| Healthcare | — | Yes |
| Data confidence | high | high |
Frequently asked
Which is cheaper, Pensionado Visa or D7 Passive Income Visa?
D7 Passive Income Visa has the lower financial requirement (Pensionado Visa: $1,000, D7 Passive Income Visa: $920).
Which is faster to get, Pensionado Visa or D7 Passive Income Visa?
Both take roughly 3 months to process.
Do Pensionado Visa or D7 Passive Income Visa lead to citizenship?
Pensionado Visa: citizenship possible after about 5 years. D7 Passive Income Visa: citizenship possible after about 5 years.
Can I hold dual citizenship with Pensionado Visa or D7 Passive Income Visa?
Pensionado Visa: Yes. D7 Passive Income Visa: Yes.
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