Permanent residence grants you the right to leave the tourist status in Panama and the right to live permanently in Panama without time restriction. In order to request a passport, you must remain 5 years with that permanent resident status and with a Panamanian ID. After this you have the right to a Panamanian passport. That is a separate procedure.
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How many other countries can I travel to based on my permanent residency in Panama?
If I apply for permanent residency, would it also give me certain visa free travel privileges to other countries or does that only happen when I get a passport?
Answers
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Permanent residency in Panama grants you the right to live permanently in Panama. Visa travel access though is determined by the passport you hold.
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Permanent residency does not give one a Panamanian passport automatically, therefore, there aren’t any visa free travel privileges. After 5 years with the residency, you might apply to citizenship.
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These type of residency permits will only grant you the right to stay permanently in Panama, but no additional visa free travel privileges.