In 2012, the then president Ricardo Martinelli, signed a decree that stated that citizens from 22 (today 50) countries, could become residents in the country in an expedited way.
Citizens from a select list of countries with which Panama has “Professional and economic ties” (click here) can access the “Friendly Nations Visa”. They can access this visa to start a new business or buy an existing business or be hired to work in a Panamanian company.
The applicant must prove that he or she maintains economic activity in the country, through a society that he or she has in Panama or a new firm that has business in Panama. (Foreigners in Panama are not allowed to create a minor business in the country).
They can also present proof of professional activities that they engage in for a Panamanian society or business, for which they must have a work permit and be registered in the Social Security system, and the information must be provided by the employer (foreigners have certain restrictions when working in professions such as Medicine, Veterinarian Medicine, Lawy, Architecture, Engineering, and others).
To access this visa the foreigner must prove economic solvency for themselves and dependents that accompany them.
The formalities must be completed through a Panamanian lawyer who has to present the following documents:
- Request for permanent residence
- Copy of passport
- Criminal records
- Apostilled documents
- Medical report 6.Two certified checks:
- $250.00 American dollars made to “Tesoro Nacional” por Tramite Migratorio
- $800.00 American dollars made to “Servicio Nacional de Migracion” con propósitos de Repatriación (Deportación)
Important: Once the Immigration office has issued the resolution approving or denying the residency request, these checks will not be reimbursable.
- Personal affidavit explaning the purpose for which the permanent residency is requested and the appropriate evidence to prove the ability to maintain economically the person and his dependents.
This information was developed by Panama Living, a digital platform committed to collecting, researching, and disseminating all the necessary information to turn your interest in Panama into a pleasant and enriching experience.
