I've heard that Panama offers remote residency options such as the Red Carpet visa. What criteria must one meet for this visa and how soon one gets permanent residency utilizing this option?
Panama offers a Qualified Investors’ Residency permit, which grants permanent residency permit to those who invest a minimum of $300,000 on real estate, $500,000 in securities investment, or $750,000 on a five-year time deposit. An application may be submitted remotely, however, the applicant must visit Panama to pick up the residency permit once approved.
The Golden Visa or the Red Carpet visa can be obtained without traveling to Panama, everything is executed overseas and just for the final stage of your permanent residency, one needs to be in person.
Under the Red Carpet Visa, you can apply remotely as long as you have visited Panama at least once in the past. The time frame for approval is 30 days, once the application is submitted, for which the minimum required investment has to be confirmed in advance, such as owning real estate for a minimum amount of $300,000, or $500,000 in securities regulated locally, or $750,000 in a fixed-term bank deposit in any local ban in Panama. After residency approval, a visit is then needed to obtain the permanent residency card.
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