For migratory policy reasons, the National Migration Service in Panama has three (3) categories for classifying foreigners: Those who do not need visas, those who do need visas, and those who need either a visa or a tourist card to enter the country.

Visa
It is the authorization issued to a foreigner for entering the country as a non-resident for a determined period, which is to be requested by citizens from those countries that for migration policy reasons need prior authorization from the National Migration Service to enter the country. Such authorization must be requested at the Consulate of Panama of their respective countries, or through a lawyer who resides in Panama. All the requisites by the Migration Office must be fulfilled and, if the visa is approved, the Consulate of Panama should be notified in their country so that the visa may be stamped in the person’s passport in order to travel to Panama. The foreigner must indicate if he or she is requesting a tourist visa (and the time period of stay) or declare whether he or she intends to reside in Panama. The Migration Service decides whether or not it will grant the visa, and how much time it will allow the foreigner to stay in Panama.

Tourist Card
Persons coming from countries that are allowed to enter Panama with a tourist card do not need visas. The tourist card may be obtained only from the airline, for the amount of US$ 5.00. The card must be filled out with the correct information and presented with the passport on entering Panama.

If the person belongs to a country that is allowed to enter Panama either with a stamped visa or a tourist card, it means that he or she has two valid options to choose from; that is, to apply for the visa through the Panamanian Consulate or purchase the tourist card at the airline upon arrival. If the person belongs to a country which is classified as visa-only to enter Panama, he or she must previously apply at the Panamanian Consulate for the visa to be issued.

Migratory Selection

For migratory purposes, the National Migration Service of Panama classifies foreigners into two (2) categories – those who do not need visas and those who need visas.

Migratory Selection for SELA Member States

Countries NOT requiring visa to enter Panama due to Suppression Agreements as regards regular passports:
Argentina
Bahamas
Barbados
Belize
Bolivia
Brazil
Chile
Colombia
Costa Rica
Ecuador
El Salvador
Grenada
Guatemala
Guyana
Honduras
Jamaica
Mexico
Nicaragua
Paraguay
Peru
Trinidad and Tobago
Uruguay
Venezuela

Countries with Visa Suppression Agreements only as regards diplomatic, consular, official or special passports:
Cuba
Haiti
Dominican Republic

In all cases, other requirements to enter the country are necessary (Economic solvency, passport with a minimum validity of six months and return air ticket to their country).
All relevant migratory information may be found in this link, relating to foreigners entering Panama - http://www.migracion.gob.pa/