For many people who come to Panama, the day they open a personal bank account with a local bank is kind of symbolic. It is definitely an important early step in establishing a presence in Panama, and it is key to doing any business here. This article will give you what you need to know […]
How to Open a Personal Bank Account in Panama Read More »
From a US citizen on one of the Facebook groups: Good afternoon, guys! I am thinking of applying for the pensionado visa. I understand I need an FBI criminal background check, but can I get those documents apostilled when I get to Panama? The closest Panamanian consulate / embassy to me is in DC (5-6
How to Get the Apostille in the USA Read More »
My husband frequents some of the expat Facebook groups, and this is a question that came up in some of the comments last week. I´ll paraphrase the post: Several people here have mentioned talking with your attorney. But the problem you will face in Panama is that if you ask five different attorneys you´ll get
Why do Panamanian Attorneys Give Conflicting Legal Advise? Read More »
Traveling internationally with children requires a ton of planning, patience, and very careful packing. It can be overwhelming for parents, and exhausting if one parent has to do it alone. Now imagine arriving to the airport only to realize that you are missing a required authorization from your spouse to be able to take your
Traveling Internationally with Your Kids Read More »
If you are doing any business or investing in Panama, at some point you’ll probably consider setting up a corporation. A lot of people aren´t sure whether they should incorporate, and they may be uncertain whether to set up an S.A. or some other type of corporate entity. This article will give an overview of
Which Type of Corporate Entity Do You Need? Read More »
Red flags just look like regular flags when viewed through rose-colored glasses. So you should make a habit of running due diligence before any new investment or business venture. Investing in real estate is fun and exciting. But don’t let all the dopamine distract you from asking the important questions to protect yourself and your
Due Diligence in Real Estate Investing Read More »
It’s sleek, its modern. It’s elegant, just like you. But can you bring your vape to Panama? Will you be able to re-restock once you are here? This article is about the legality of vaping in Panama. If you’re into this sort of thing then congratulations – you’ve got another adjustment to figure out as
The Legality of Vaping in Panama Read More »
With solid infrastructure and direct flights all around the hemisphere, Panama is becoming a popular workspace and playground for remote workers. Not only that – in the aftermath of the Covid pandemic rent prices are down and shorter, flexible-term leases are the order of the day. All of this makes Panama an amazing place to
Breaking Free: The Short Stay Visa (aka the “Digital Nomad Visa”) Read More »
This is an update to an article we published last year about Panama’s Qualified Investor Visa. We are posting it again with some updates, because the laws around this alluring residency program are scheduled to change on October 15, 2024. Beyond that date, the minimum threshold investment in real estate will increase by more than
The Self-Economic Solvency Investor Visa allows foreign investors to obtain residency in Panama with a qualifying investment. While the minimum investment threshold is a bit higher than the Macro Business Investor Visa or the Friendly Nations Investor Visa, this is a popular option for investors because the requirements are straightforward and flexible and it’s not
The Self-Economic Solvency Investor Visa Read More »
There are a few different paths to residency available to foreigners investing in government certified reforestation projects in Panama:
The Qualified Investor Visa is the only investor visa that offers an expedited process to directly obtain permanent residency in Panama.
To qualify, an applicant must make an investment that satisfies the following requirements:
The options above cannot be mixed and matched to satisfy the minimum investment threshold amount. The funds must also originate from outside of Panama to qualify.
The Self Economic Solvency Visa offers residency to foreigners who make a qualifying minimum investment in Panama, which include:
1. An equity investment of at least $300,000 USD in the purchase of a real state property in Panama.
2. A minimum 3-year certificate of deposit (“CD” or “Time Deposit”) of at least $300,000 USD in a bank in Panama.
3. A combination of 1 & 2.
This is a good option for someone who has already purchased real estate which does not quite satisfy the minimum investment requirement.
Spouses or dependents can also obtain residency with an additional investment of $2,000 USD for each additional applicant. Qualifying applicants will initially obtain residency for 2 years and may then apply for permanent residency.
The Friendly Nations Visa (FNV) offers one of the fastest and straightforward paths to residency for citizens of nations designated as “friendly” to Panama.
The minimum investment is $200,000 USD as equity in the purchase of a real state property in Panama or a minimum 3-year certificate of deposit (“CD” or “Time Deposit”) in a bank in Panama. Applicants who qualify can also obtain residency for their spouse or dependents with an additional investment of $2,000 USD for each additional applicant.
Applicants qualifying for the Business Investor Visa will initially obtain residency for 2 years and may then apply for permanent residency. The FNV also affords foreigners the opportunity to apply for a work permit in Panama.
Check whether you are likely to qualify by choosing which nation has issued your passport, or contact us to request a quote.
The Business Investor Visa is available to investors and entrepreneurs investing in a business in Panama.
To qualify, an applicant must invest a minimum $160,000 USD investment in capital stock of a Panamanian company.
Applicants who qualify can also obtain residency for their spouse or dependents with an additional investment of $2,000 USD for each additional applicant.
Applicants qualifying for the Business Investor Visa will initially obtain residency for 2 years and may then apply for permanent residency.
Once you have obtained permanent residency and held it for a period of 5 years, you can apply for Panamanian citizenship (and then a passport). If you are also married to a Panamanian or have children with a Panamanian parent, then you can apply after holding permanent residency for just 3 years.
Please contact me if you have questions or would like to discuss the application process and requirements.
With solid infrastructure and direct flights all around the hemisphere, Panama has become an increasingly popular destination for freelancers and remote workers doing business outside of Panama. The main requirements are:
1. Remote workers should provide a contract setting forth the employees main functions being performed abroad for a foreign company doing work on an international level. However, self-employed free-lancers can also apply.
2. Applicants should demonstrate an annual income of at least $36,000 USD (or $48,000 USD per family).
Qualifying digital nomads can obtain a 9-month residency, extendable to 18 months. And if you fall in love with Panama and want to talk about permanent residency after that, then I help you with longer-term residency options.
There are a few different residency options available to applicants with family ties to Panama. Some of the main options are as follows:
1. Married to a Panamanian
The main requirement is a real, legal and valid marriage with a Panamanian citizen. Qualifying applicants may apply for a permanent residency.
b. Panamanian Children
The parents of a child who a.) was born in Panama and b.) is over five years old may apply for permanent residency in Panama.
c. Dependents of a Panama resident
Generally speaking, a foreigner who has qualifies for residency in Panama can also obtain residency for their spouse and dependents. The requirements will vary depending on the type of residency visa.
Panama has created several different residency options to incentivize foreign investment. These visas offer several different paths to short-term or permanent residency based on different types of investments and minimum investment amounts.
The following Investor Visas are covered here (click each one for details):
Often referred to as the Jubilado (Retired Person) Visa because of its popularity among retirees, this is also a fast and affordable path toward permanent residency for applicants who qualify.
In fact, anyone over age 18 can apply so long as they satisfy the 2 main requirements:
1. A pension or annuity paying a minimum of $1,000 USD per month.
The annuity or pension can be paid by a private company, military, government agencies, corporations, a bank, an insurance company, or a Trust.
2. The pension or annuity must provide a lifetime benefit.
Qualifying applicants can obtain residency for their spouse as well, but the pension or annuity benefit should cover an additional $250 per month.
As an added benefit, the Pensioner Visa also grants discounts at restaurants, hotels, movie theaters, pharmacies and domestic airlines, making it a popular option for clients on a fixed income. The Pensioner Visa also affords foreigners the opportunity to apply for a 3-year, renewable work permit in Panama.
Applicants qualifying for the Friendly Nations Visa (FNV) will initially obtain residency for 2 years, and may then apply for permanent residency.
The FNV also affords foreigners the opportunity to apply for a work permit in Panama.
The FNV involves offers a very straightforward process and is one of the most affordable paths to residency in Panama for those who qualify.
For foreigners who wish to obtain a work permit to seek employment in Panama, there is a separate application process that begins only after having obtained residency.
Generally, anyone who has held residency in Panama for 10 years can apply for a work permit. However, there are much shorter and more direct processes to obtain a work permit depending on which visa process the applicant pursued to obtain residency.
Please contact us if you have questions or would like to discuss the application process and requirements.
