Permanent Panama Residency & Visa

How to Obtain Permanent Panama Residency and Visa? Panama Friendly Nations Visa? The Fastest Way to Have A Second Residency

Panama Permanent Residency Visas

Panama offers several permanent residency visa programs. Foreigners have several options to choose from in order to live permanently in Panama. Panamastands out among the world’s expat destinations because it offers concrete infrastructure and first world amenities. It’sclose to North America. Life here is easy, breezy, and fun. There are parts of Panama where one can live on $1,000 a month. In today’sarticle, I will share with you the most popular way to retrieve the Panama residency.

Panama Self Economic Solvency Visa

You may obtain a temporary residency permit under the SES (Self Economic Solvency ) scheme if you make an investment of$300,000 in a fixed-termdeposit in a Panamanian local bank, or purchase real estate or a combination of both.Generally,There are 3 options available to qualify for this uniquePanama economic solvency visa created to attract wealthy foreigners to become permanent Panama residents:

Make an investment of at least $300,000 in Panama real property equity. The title can either be in a person’s name or in a Panama Private Interest Foundation (the primary applicant must either be a beneficiary orthe creator). The property cannot be in the name of a Trust or a corporation.
Make an investment of at least $300,000 USD in a 3 year Panama bank time deposit (CD, “Certificate of Deposit”). For each dependant, an additional $2,000 USD needs to be invested. The Panama bank CD can only be in the name of the primary applicant.
Combine the first two options by making an investment in both Panama real property and a Panama bank CD .

Panama Friendly Nations Visa

Eligible for these citizens to Panama Friendly Nations Visa

If you are a citizen from one of the 50 friendly nations listed below and wish to relocate to Panama in order to conduct economic or professional businessactivities, you can qualify for this permanent residency program: Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Croatia,Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Israel, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Marino, Montenegro, Netherlands, New Zealand, Norway, Poland, Portugal, Serbia, Singapore, Slovakia, Spain, South Africa, South Korea, Sweden, Switzerland, Taiwan, United States of America, Uruguay, United Kingdom (Great Britain & Northern Ireland).

To qualify, an applicant needed to show economic or professional ties to Panama, be of good character(無犯罪證明、良民證), have US$5,000, and not much else. Many immigrants heading to Panama took advantage of the program, making it the most popular way to move to Panamabetween 2016 and 2019. In August of 2021, Panama Government announces new regulation to Panama Friendly Nations Visa, the applicant has the option of either investing US$200,000 in a real estate property in Panama (bank financing is allowed), or having a legalizedwork contract with an actual operating Panamanian company.

Panama Friendly Nations Visa to Permanent Resident

A 2 year temporary resident visa is first obtained, and then after 2 years the applicant can apply for permanent residency.

Providing a formal labor contract, and a work permit with employment by legal Panama Corporation
Purchase a real estate property with a minimum value of US$200,000 (bank financing is accepted) .

Conclusion: Panama Residency Visa and Permanent Residency

Panama is one of the most diverse countries you’ll find in the world. The stunning long coastlines, mountain hamlets and fresh water. And youare much easier to stay in the country.

Panama has only income and capital gains earned in Panama are taxed, and only at a flat rate between 7 and 27%.
It is not required to live in Panama in order to maintain your second residency.
It is possible to live for less than 10,000 HKD per month..

Panama Residency & OECS Citizenship

People move to Panama to lower their tax and expend their business to the North America and Central America. It gives you more diversity and sustainability. However it takes a few year before you become the citizen and have their passport. Panama doesn’t allow dual citizenships, someentrepreneurs choose to make financial contribution to the Eastern Caribbean countries such as Saint Kitts and Nevis, Commonwealth of Dominica, Saint Lucia, those countries give you immediate citizenship and access to associating Caribbean States (25 Members, 10 Associate Members, and 28 Observer states)and freedom of market access in Organization of Eastern Caribbean States .