Immigration and Residency in Panama

Immigration and Residency in Panama


The Panamanian government has created several laws which, depending on the particular type of visa applied for, enable foreigners to obtain legal temporary or permanent residency, work permits and citizenship and/or passports in Panama.

Most of these laws have been created to promote foreign investment in the country which benefits the local environment or local economy of Panama.  People wishing to immigrate to Panama have several options.  Non-residents can apply for one of several visas.  The following is intended as a brief summary of the most popular residency visas offered to foreigners.

 

Visa Type

 

Requirements

 

Advantages

 

Retired or Pensioned Program

 

(Visa Pensionado)

 

Public pension fund

Proof of lifetime pension for minimum of $1000/month + $250/month per dependant

Permanent Residency + large number of discounts and tax exemptions

 

No Citizenship eligibility

Private pension plan

Proof of lifetime pension for minimum of $1000/month + $250/month per dependant

Retiree Rentier

 

Provide a 5-year time deposit (CD) at the Banco Nacional de Panama which must earn a minimum of $2000/month in interest income

Obtain an immediate Panamanian Passport

 

No Citizenship or Permanent Residency eligibility

 

Self Economic Solvency

 

Option 1

Min. of $300,000 investment in 3-year time deposit (CD) at a licensed Panamanian Bank + $2000 per dependant

Obtain a 2 years Temporary Immigrant Visa

 

After 2 years you may obtain a Permanent Residency Visa

 

After 5 years you may obtain a Panamanian Citizenship and Passport

Option 2

Min. of $300,000 investment in a titled property in Panama + $2000 per dependant

Option 3

Combination of option 1 and 2. The total amount is for $300,000

 

 

 

Large Business Investor Program

 

Invest a min. of $160,000 in an established or new business in Panama and employ at least 5 Panamanians paying them min. wage + social security benefits + $2000 per dependant

Obtain Permanent Residency Visa after 2 years

 

After 5 years you may obtain a Panamanian Citizenship and Passport

Reforestation Investor

 

Large business investment of at least $80,000 in a reforestation project + $2000 per dependant

Obtain Permanent Residency Visa after 2 years

 

After 5 years you may obtain a Panamanian Citizenship and Passport