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Articles
Panama Citizenship
Updated on Wednesday 05th January 2022
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Obtaining Panama citizenship can be the main reason why some foreign nationals choose to relocate here for business or employment purposes. Remaining in the country lawfully for a sufficient period of time is mandatory for this to be possible, along with other requirements concerning the applicant’s immersion in the Panamanian society and culture.
Applying for Panamanian citizenship is a process that can be fully assisted by our team of agents. We specialize in company formation in Panama, however, we are also able to help those who are interested not only in starting a business here, but also remaining in the country.
You can read this article to find out more about the conditions for obtaining Panama citizenship, as well as the general process.
Investors who need more information about how to relocate their business here, or how to incorporate an offshore company in Panama, can reach out to us for details prior to their arrival.
What are the main ways in which one can acquire Panama citizenship?
Foreign nationals can obtain citizenship in Panama once they have lived in the country for five years under a temporary or permanent residence permit.
Some of the main topics related to citizenship are briefly listed below:
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- Citizenship by naturalization: this is the most common manner in which a foreign national who resides in the country for the minimum number of years can apply for citizenship;
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- Citizenship by birth: Panamanian citizenship is automatic for individuals born in the country; those who were born abroad and have at least one Panamanian parent can also apply, as well as those who have at least one parent who was naturalized;
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- Dual citizenship: under law, an oath of renunciation is made for the former citizenship, in case of naturalization; our team can give you more details;
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- Loss of Panama citizenship: citizenship by naturalization can be withdrawn when the holder enlists in the army forces of another, enemy jurisdiction, upon obtaining another nationality, or in other cases.
What are the conditions for citizenship by naturalization?
Apart from having to comply with the conditions to renounce the other nationality, the individual who applies for Panamanian citizenship by naturalization will also need to bring satisfactory proof that he or she has basic knowledge of Spanish language, Panamanian law and history, as well as that he or she understands the political organization of the country and is immersed in the society.
What are the needed documents?
Proof of lawful stay in the country is required, and this is brought in the form of a temporary or permanent residence document. The applicant will also be asked to pay a fee, and provide a police record, identification documents, proof of accommodation and sufficient income.
When first acquiring temporary residence, this is possible under several investment programs. We list some of the financial conditions below:
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- $40,000 investment in the Reforestation Program, which also allows the holder to bring his dependent children and spouse;
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- $80,000 investment in the Reforestation Program, with this larger investment allowing the holder to apply for permanent residence after 1 year;
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- $200,000 bank deposit, for individuals who wish to live in the country under the Persons of Means Visa;
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- $150,000 for those who wish to start a business; this is the minimum investment amount, however, conditions apply; a small business visa can also apply, with a lower value of $40,000.
Foreign nationals who wish to retire to Panama can do so under the program for retirees. Proof of sufficient financial means is also required in this case. If they wish, they can apply for Panama citizenship after 5 years.
Please keep in mind that the investments are subject to conditions and that the stated amounts can be subject to change. Our team specializing in company formation in Panama can give you more details.
How can you help me?
Our team can assist you throughout the application process and with a pre-evaluation of your documents. Knowing if your file includes all of the needed documents, as required by the authorities, is important before making the submission. This way, you can make sure that no documents are missing and that the processing period will not be delayed if you have to submit additional documents.
Contact us if you need more information about how to apply for Panama citizenship. Our team of Panama company formation agents assists investors, entrepreneurs and other individuals who are interested in more than just opening a business. We can help you relocate and live in Panama.
Meet us in Panama
Call us now at +230 5252 6703 to set up an appointment with our business consultants in Panama City, Panama. Alternatively you can incorporate your company without traveling to Panama.
As a our client, you will benefit from the joint expertise of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Panama.
Contact usTestimonials
Fast and personalized company formation services in Panama. The team will help investors incorporate a business vehicle that is 100% suited to their investment or asset protection needs.
Francesco Dagnino, Lawyer and Founding Partner of LEXIA Avvocati
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