I’m possibly interested in a residency in Panama with eventual citizenship. I’m wondering how long would I have to place a fixed-term deposit to qualify? Would I get the full deposit principal back upon maturity or how does it work?
Answers
The Panama Qualified Investor Visa allows you to apply and obtain permanent residency remotely in a 30 to 60 days timeframe, with a fix term deposit for the amount of $750,000 USD in any local bank in Panama. Citizenship can be applied for after 5 years of being a permanent resident. There are other residency options as well with expedite traveller´s passport issuance yet not citizenship, with a fix term deposit of approximately $350,000 USD in the National Bank of Panama. This other option requires physical presence in Panama to initiate the process.
There are actually three different residency-by-investment programs you may qualify for with a fix-term deposit: Friendly Nations Visa, Self-Solvency program, and Qualified Investor’s program. Friendly Nations Visa requires a minimum deposit of USD 200k and length of 36 months; grants a two-year residency permit, first and a permanent one right after that. This residency program is limited to near fifty specific nationalities. Self-Solvency program requires a minimum deposit of USD 300k and length of 36 months, grants a two-year residency permit, first and a permanent one right after that. Qualified Investor’s program requires a minimum deposit of USD 750k and length of 60 months, grants permanency upon approval of one single application. Citizenship may be requested five years after receiving a permanent resident status.