Panama Residency

OBTAIN PERMANENT RESIDENCY IN PANAMA

Residency via Visa Programs

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Why Immigrate to Panama?

Panama is a highly sought after location for many foreign investors seeking residency. It is strategically geographically situated for international business relations particularly with America, and is considered a tax haven by foreign investors due to its bespoke tax regime. Panama boasts a strong and stable economy and solid political infrastructure based largely on the US legal and political infrastructure. It is a safe country, peaceful and welcoming to foreign residents. It offers good levels of health care and education and generally a high standard of living with reasonable living costs.

Advantages of Panama residency:

  • Right to live and work in Panama.
  • The permanent residency can be obtain after 2 years of temporary residence and can lead to a citizenship after 5 years.
  • Family members can be included in the application.
  • Right to own a property in Panama.
  • Advantageous tax regime for foreign investors.
  • No age limit required for applying for any type of visas. The minimum legal age is 18 years old.
  • Low cost of living.
  • High standard of living.
  • Warm climate all year round.
  • Low crime rates.
  • Excellent health care system.
  • Improved infrastructure including roads and buildings.

Panama does not offer an economic citizenship program (e.g. government investment programs in Dominica or St. Kitts and Nevis), therefore, investments in approved governmental projects for fast-track naturalization are not available. However, in order to promote foreign investment to the country Panama offers several permanent residency visa programs.

Self-Economic Solvency Visa or Person of Means Visa

One of the most popular type of resident visa is the Self-Economic Solvency visa, which requires a minimum of US $300,000 investments in any one of the following ways:

  1. In Real Estate in the Republic of Panama,
    OR
  2. In a three year time deposit at a Panamanian bank,
    OR
  3. A combination of both options up to the amount of US $300,000.
  4. In case of dependents the applicant will need an additional US $2,000 for each dependent. The Self-Economic Solvency visa offers permanent residency after 2 years of being a temporary resident and after 5 years of been a permanent resident the applicant may apply for a citizenship through naturalization.

Under the Self-Economic Solvency visa the applicant may apply for a work permit in order to be employed under a labor contract.

Business Investor Visa

The Business Investor visa requires establishing and operating a business in Panama. The applicant must have the following:

  • The minimum investment in a business of US$160,000;
  • A commercial license;
  • A physical office or store front;
  • A minimum of 5 Panamanian employees on the payroll;
  • Registration of Applicant’s name on the board of directors as the President of the corporation.

In case of dependents the applicant will need an additional US $2,000 for each dependent.

The permanent resident visa can be obtained after 2 year of having a temporary resident visa. The Business Investor visa offers the option of applying for a citizenship and passport after 5 years of being a permanent resident. The applicant may apply for a work permit.

Reforestation Visa

This is a unique program where the applicant invests US $60,000 in an approved Panama reforestation program. This is an extremely inexpensive way to obtain a permanent Panama residency and eventually a citizenship with Panama passport which is good for visa free travel in most of the western EU and throughout most of Latin and South America.

Investment in reforestation requirements are as follows:

  • Minimum investment amount of US $60,000
  • The area can’t be smaller than 5 hectares of timber land titled in the investor’s name or in the name of a corporation in which the investor has at least a 51% share.

This option will allow the investor to obtain a Visa for themselves and family members (spouse and dependent children). In case of dependents the applicant will need an additional US $2,000 for each dependent.

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General requirements and typical documentation requirements when applying for any type of visa in Panama

  • Valid Passport
  • Police Report
  • Medical certificate
  • Bank reference letter
  • Passport sized photos
  • Birth Certificate (for children under 18 if applying as dependents)
  • Marriage Certificate (for spouse if applying as a dependent)

All visa applications must be made through a lawyer in Panama. All overseas documents to must be certified by a Notary and by the Panamanian consulate, or by a Notary and the Apostille. All documents must be issued within two months of visa application and passports must have at least one year to run.