I'm an investor from an Asian country and I'm interested in getting permanent residency in Panama. What are my options under the program?
Documents showing the economic or professional activities to be conducted in Panama can be proved by providing documentation that you are a member of the board of directors or a shareholder of a Panamanian Corporation, or that you have a labor contract with a Panamanian corporation. You can incorporate a Panamanian corporation in the event you don't have a labor contract.
You must open a company in Panama with a commercial license, be the shareholder of all 100% shares and have an initial capital of 5K. The residence is permanent, comes with a work permit, and the right to a personal identity card from Panama. After five years with a Panama identity card, you get the right to apply for a Panamanian passport.
Holding at least 50% of the issued shares of a Panamanian company will suffice as business intent, and hence as precondition to apply for a residency permit under the Friendly Nations program.
A business must be opened, which requires setting up of a Panama company—a fast and easy option. The Friendly Nations Visa program is for citizens of Asia region: South Korea, Japan, Taiwan, Hong Kong, and Singapore. To initiate the process, you need to contact a local law firm in Panama.
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