Immigrate to Panama

 

While the option to acquire permanent residency for those who open a company in Panama has been eliminated from the Friendly Nations Visa, there are other options for investors that grant temporary residency which can, in time, lead to permanent residency and the final goal to relocate to Panama.

 

The Reforestation Visa is such an option and it is available to foreign nationals who are able to make a minimum investment in a national reforestation program. The minimum investment amount is $40,000 or $80,000 and it needs to be submitted to be approved. Both amounts of investment allow the individual to reside in the country, with the larger value granting permanent residency faster compared to the minimum amount. Like in other cases, the temporary residence permit needs to be renewed each year and after five years the holder can apply for permanent residency.  

 

There is no nationality restriction for the reforestation visa, however, applicants will need to observe the general entry requirements that apply to them based on nationality. Some of the documents that are required when applying for this visa include the following:

 

 

The application is submitted in person and the process also include the payment of the initial processing fees and the subsequent fees (these are calculated for the applicant as well as for each one of the dependents, if any).

 

The investment contract with the reforestation company is the basis upon which this visa is issued. In order for the investment to be valid, the applicant needs to submit the minimum amount with an approved company.

 

We advise you to work with our company formation and investment specialists in Panama in order to make sure that the reforestation contract is reviewed by a professional and that is complies with the requirements in force.

 

If obtaining this visa under the national reforestation programme is of interest, you can reach out to our immigration lawyers in Panama for more details.

 

Applying for a residence permit for Panama is easier with the help of a team of local professionals. Our immigration specialists can answer important pre-application questions, can evaluate your case specifically, and will provide you with details on the needed residence permit documents, the expected processing time, and more. Reach out to us as soon as you are ready to apply.

 

 

Another option for many foreign nationals can be that to retire to Panama. This is possible with a lower income requirement and there is no need to make an initial investment, as would be the case when opening a company or when applying for the reforestation programme.

 

A key element when applying for the option to retire to Panama is to be able to show that you have sufficient, stable income for the entire period you will be spending in the country (if you plan to retire permanently, the to the end of your life).

 

The minimum age is 18 years, however, there is no limit for the application age. There are two options to be taken into consideration: the private income retiree visa and the retiree visa. The first is available to those who are not working, do not have a monthly pension, however, they do have a retirement lump amount or another source of income that that guarantee their financial stability.

 

The retiree visa targets those foreign nationals who are retired pensioners and have a steady pension within the prescribed minimum monthly income.

 

For US citizens, the minimum monthly income for the retiree visa is USD 1,000 for the applicant and USD 250 for each dependent.

 

The minimum amount for other foreign nationals can be different as it can be calculated according to the currency in their country of origin. Before applying, we recommend that you verity this minimum amount with our experts.

 

As for other types of visas, retirees will need to submit additional documents, among which the mandatory ones such as the passport, the health certificate issued in Panama, photographs, proof of monthly income as well as information about the individuals who will be joining as dependents (if any).

 

Retiring to Panama can be a suitable option for those who are able to use the steady monthly income they receive from their home country in order to apply for the visa.

 

The retirement program also offers certain incentives such as discounts on utility bills, on loans, reductions on medical or entertainment services.

 

• - discounts on utility bills (25%) and airline tickets and 30% for other types of transportation;
• - discounts on loans and home mortgages for personal residence;
• - discounts for medical bills and hospital bills if not subject to insurance;
• - discounts on technical and professional services, hotel and cultural discounts.

 

If you wish to know more about the advantages, you can get in touch with our experts who can give you more details about how you can retire to the country and, while doing so, effectively immigrating to Panama.

 

The Panamanian Qualified Investor Visa

• - real estate purchases of USD 500,000 or USD 300,000 (subject to a limited time and conditions);
• - stock market investments, on the Panamanian Stock Market, through a licensed broker, also with a minimum amount of USD 500,000 in most cases;
• - fixed term bank deposits, with a qualified Panamanian bank, of USD 750,000 in most cases.

Reasons to invest in Panama

• - a robust economy;
• - open investment climate, allowing full foreign ownership;
• - low labor costs and qualified employees in different fields;
• - various business opportunities in multiple industries and business sectors;
• - the possibility to incorporate a company that will be used for international trade, for the purpose of creating a trust or a foundation, or for holding purposes (an offshore company);
• - various benefits for companies located in the country’s special economic zones.