Panama Residency Programs
Panama Residency Programs
Different alternatives for obtaining the Panama Residence.
In order to promote the investments and tourism in the country the Panama government has created selected visa programs of special benefits for foreign residents and retirees planning to obtain temporary or permanent residency, and in some cases citizenship and special Panama passports.
Kindly find below a summary of the main migration programs in Panama.
Panama Friendly Nations Visa.
Approximately 40 countries are eligible for Panama’s Friendly Nations Visa. Citizens of any of these countries can obtain residency in Panama rather easily by demonstrating economic activities in the country and proof of financial solvency.
This visa program is designed for individuals who own a Panama company, have economic ties with Panama and desire to become permanent residents.
Requires for the interested party to establish a Time Deposit (Term Deposit) in the National Bank of Panama (Banco Nacional de Panama), for a period of at least 5 years, for an amount that would generate a monthly interest of at least US$2000 approx. Said amount would be considered the retirees monthly income.
Pensioned Tourist Visa.
The interested party shall be pensioned or retired by a foreign government, private company or international organization. It is required for the applicant to receive a monthly income or pension of at least US$1000 and an additional US$250 for each dependent.
Self-Economic Solvency Visa.
The interested party must choose one of the three next alternatives in order to apply for this visa:
- Time Deposit: To establish a Time Deposit (Term Deposit) in a Panama local Bank, for a minimum period of 3 years, for minimum amount of US$300,000.
- Real Estate Investment: To purchase real estate property in Panama without financing. Must be under its personal name, for a minimum value of US$300,000 and submit proof of economic solvency to cover its daily living expenses.
- Time Deposit + Real Estate Investment: To purchase real estate property in Panama without financing. Must be under its name, and to establish a Time Deposit (Term Deposit) in a Panama local Bank, for a minimum period of 3 years, both equivalent to a minimum of US$300,000.
Business Investor Visa.
Designed for those who wish to establish a real physical business in Panama. This visa program requires an investment of a minimum amount of US$150,000. There must be a minimum of 3, permanent Panamanian employees hired. Note: Some businesses and professions are limited to Panamanians only.
General Requirements for Visa applications.
- All visa applications must be made through a Panamanian lawyer or law firm.
- There is no age limit required for applying for any of these visas, save for the minimum legal age of 18 years. Young people under 18 years will qualify for a visa as dependents of their parents.
- All foreign documents to be presented to the authorities in Panama must be certified by a Notary, and in addition by a Panamanian consulate or Apostille.
- All documents must be recent (within three months of visa application) and passports must have at least one year for expiration.
- Dependents: Bring a marriage certificate. If your children under 18 are to be covered by your visa, you’ll need to bring recent birth certificates.
- All visa applications require for the applicant to obtain a health certificate and HIV test in Panama.
Panama Immigration inquires?
For cost information or further information about the different visa alternatives and retiring in Panama, kindly contact us at firstname.lastname@example.org. One of our Panama immigration lawyers will get back to you as soon as possible in order to guide you through the requirements and process to gain Panama residency.