Panama

Citizenship By Investment

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Residency By Investment

For citizens of 50 nations, obtaining residency in Panama is possible if one invests in property worth at least $200,000, or deposits the same amount in a bank, or gets employed by a Panamanian company.

Countries that qualify for a Friendly Nations Visa include the United States, Canada, Australia, most European countries, Israel, Japan, Hong Kong, South Korea, Singapore, South Africa and several Latin American countries.

The main requirement is to show economic activity. But that doesn’t mean a huge investment of time or money. In fact, you don’t even have to live in Panama.

Besides the bank deposit, the residency program requires evidence that the applicant works for a Panama company in a professional capacity, or owns a Panama company (such as by filing incorporation papers), or owns real estate; an authenticated criminal history background report; a Panama doctor’s examination report; and nonrefundable fees of $1,050 per person. Applicants are also subject to ID issuance fees, notary and translation costs and legal fees.

Qualified family members include a spouse and children younger than 18, or 25 if they are full-time students and single, disabled relatives and parents the applicant supports.

If applicants aren’t from a country on the Friendly Nations list, they can apply under one of the following programs:

• The Panama Reforestation Visa requires an investment of at least $100,000 in government-certified reforestation projects, which involve planting mahogany and teak trees in the rainforest to replace those harvested for lumber. A provisional residency permit for two years will be first granted, followed by a permanent one after two years.
• The Self Economic Solvency Visa targets high-income individuals, requiring a $300,000 investment in a certificate of deposit, real estate or a mix of the two. The applicant will first obtain a two-year residency permit, followed by a permanent one after the second year.
• The Business Investor Visa requires a $160,000 minimum investment in a new Panamanian corporation that hires at least five local employees. The foreigner can be a shareholder and/or an officer and will gain permanent residency after two years. Note that certain fields of employment are closed to foreigners, including professional firms – doctors, lawyers and accountants – and retail businesses.
• The Panama Pensionado Visa is for foreigners who wish to retire in Panama on a set pension, annuity or retirement fund. You don’t have to be retirement age, though. Just being older than 18 with a lifetime monthly income related to a retirement or disability pension of at least $1,000 or equivalent in another currency is enough to qualify. For each dependent added to an application, the minimum monthly income threshold increases by $250. Spouses can combine their income to meet the requirement. Dependent children’s residency is only valid until they turn 25 years old. Pensionados enjoy discounts on restaurant meals, cultural events, hotel stays, airfare, medical services, prescription medications and public utilities. Pension must be from government or international organizations. If from private sources, pension must be granted by a regulated, licensed entity, such as: mutual funds, banks, insurance, trusts or pension management plans. Passive personal income is not accepted.
• The Private Annuity Retiree Visa is for foreigners who wish to obtain an expedite special Travel’s Passport from Panama, which is granted by the Passport National Authority office for five years renewably, as long as a bank deposit of $380,000 is maintained for five years, as per current APR, as the law demands a monthly interest income of $850/month. Besides the special passport, residency is also granted under this program since 1987.
• Qualified Investor Immigration Program requires foreigners to invest for five years either in real estate worth $300,000 (this will increase to $500,000 from October 2022), or $500,000 in securities, or make a bank deposit of $750,000. 

These residency programs require an additional investment ranging from $500 to $2,000 for family members. Legal costs and government fees tack on an additional $3,500-$5,000, depending on how complex the case is and how much the law firm handling it charges.

Updated by Emilio Cornejo Vernaza and Marcos Kraemer

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