2023 Panama Residency Requirements

Panama is a beautiful nation renowned for its thriving culture, breathtaking landscapes, and robust economy. Many businessmen are interested in residing in Panama permanently. Fortunately, Panama offers a variety of permanent Panama residency visa programs to accommodate the diverse requirements of those wishing to stay.

Panama-Friendly Nations Visa 

This is an excellent option for citizens of 50 friendly nations who wish to migrate to Panama for economic or professional business purposes. To be eligible for this permanent Panama residency program, you must be a citizen of these countries.

You have two options to qualify for permanent residency under this visa program. First, you can invest $200,000 in Panama real estate with bank financing or have a legalized employment contract with a Panamanian company in operation. You'll initially receive a transient resident visa valid for two years, which the government can convert to permanent resident status.

Panama Visa for Economic Self-Sufficiency

The Panama Self-Economic Solvency Visa attracts affluent individuals seeking permanent Panama residency. This visa program offers three alternatives for investments:

Real Estate Investment: You can invest at least $200,000 in Panama real estate equity (excluding loans and mortgages). You must invest an additional $2,000 for every dependent listed on the visa application. If you're the beneficiary or creator, you can register the property in your name or through a Panama Private Interest Foundation. 

Bank Time Deposit: An alternative is to invest at least $300,000 in a three-year Panama bank time deposit or "Certificate of Deposit." Each dependent requires an additional $2,000 investment. You can only hold the time deposit in your name, not a trust, corporation, or foundation.

Combined Investment: You can combine the first two options by investing in Panama real estate and a bank time deposit.

Business Investor Visa in Panama

If you want to invest in a Panamanian company, the Panama Business Investor Visa may be your best option. This visa program requires a minimum investment of $160,000 in the capital stock of a Panama corporation. You can apply for the visa as a corporate officer or shareholder, and you'll need an additional $2,000 investment.

Program for Retired or Pensioned Panamaans

The Panama Retired program provides a path to permanent residency for retirees and individuals receiving perpetual annuities or pensions. This program is open to individuals over 18 who receive monthly lifetime pensions or annuities of at least $1,000. You require an additional $250 per month per dependent.

Couples can consolidate their pensions and annuities to satisfy the minimum requirement. However, there is an exception if the principal applicant purchases at least $100,000 worth of property. The pension or annuity may originate from the government, the military, corporations, banks, trusts, or private companies. 

Marriage to a Panamanian National

You may qualify for permanent Panama residency if you are legally married to a Panamanian citizen. This option enables you to obtain permanent residency based on your marriage.

Obtain Your Panama Residency Today

Panama offers a variety of permanent residency options for those who wish to call this gorgeous country home. There is a Panama residency program that meets your requirements if you are a citizen of a favorable nation, a qualified investor, a businessperson, a retiree, or even in a marriage with a Panamanian citizen. This guide will help you become a permanent resident of Panama so you can appreciate everything this remarkable country offers.

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