Panama is a politically neutral country in the Caribbean, with good climatic conditions, a developing economy and a huge potential for growth. Over the past seven years, Panama has demonstrated a steady GDP growth, and is not going to stop there. An important role in its economy is played by the Panama Canal, the services sector, especially banking, commerce and tourism.
Panama, like no other country in the world, offers a lot of affordable options for immigration. Guided by the experience of the most progressive and successful countries, the Government of Panama has developed many options to attract foreign investors ready to contribute to the country’s economy, as well as qualified personnel capable of bringing the country to a new level of development.
Residence permit, permanent residence or passport of Panama. The main options for immigration:
In fact, the options for obtaining the residence of Panama (permanent residence, residence permit) – a lot, and many of them ultimately lead to citizenship and a passport. We will focus only on the most popular and popular ones.
Business immigration or a program for a macro investor. This option involves opening a real company in Panama, and hiring five or more local employees. The investor must invest at least US $ 160,000 in the shares of his own Panamanian company, while allowing the creation of a joint venture with other foreign shareholders. Each investor who invests the minimum required amount in such company can take advantage of the immigration program. If the investor (who is also the main applicant) plans to apply for residence with his family, then the amount invested in the business should be slightly larger – It is necessary to add US $ 2,000 for each member of the family.
What does this give the investor? Registration of a temporary residence permit, and after two years of residence – the right to file a petition for permanent resident status, or simply permanent residence. After five years of permanent residence, and subject to additional conditions, it is possible to begin the process of obtaining the citizenship and passport of Panama. The program for a solvent investor. This program provides several opportunities for the investora) Buying property worth from US $ 300,000.
b) Long-term deposit in one of Panama’s banks for the amount of US $ 300,000, and for a period of at least 3 years.
c) Buying a property plus a deposit totaling US $ 300,000. This is a kind of mix of the two previous options, which allows the investor to diversify their deposits. For example, buying apartments in Panama worth US $ 200,000 plus a deposit in a Panamanian bank for US $ 100,000 – and you can get a residency. This is very convenient, since the investor is not tied to a specific amount when buying a home. You can buy real estate for the desired amount, and put the rest on the deposit.
All three options allow you to include in the application for residence permit the closest family members of the investor. A small additional condition is to add to the total amount of the investment (in real estate or deposit) by US $ 2,000 for each dependent.
What does this give the investor? The residence permit, which is issued for one year, and then is exchanged for a five-year permanent residence. After five years of permanent residence in Panama, the main applicant and his family can claim citizenship. Visitor’s visa and passport for travel. This immigration program in Panama is ideal for those who want to live and save savings in another country for a period of time, without special ties and without large investments in the form of charter capital or buying real estate. It is necessary to open a deposit account in one of the state-owned banks in Panama and deposit a minimum of US $ 250,000 for a five-year term. The required deposit amount can be higher, depending on the bank’s rates at the time of signing the contract, as the main condition is that this deposit brings the investor at least US $ 850 per month. What does this give the investor? Within four months after the deposit, the main applicant receives a passport (not citizenship) of Panama, which gives the right to reside in the country and can be used for travel. This option does not provide for obtaining permanent residence or citizenship. After the expiration of the five-year deposit, the validity of the passport expires, but if desired, the investor can extend the deposit for another 5 years, along with the extension of the passport. State program of restoration of afforestation. The investor receives a temporary residence permit if he is willing to invest a minimum of US $ 80,000 in one of the forest restoration projects approved by the government. This is the most affordable program for obtaining a residence through investments, because for this amount a whole family can receive a residence, without additional payments for dependents, as provided for in other options. What does this give the investor? Residence permit and the opportunity to apply for permanent residence after two years of residence in the country. This option is one of the simplest and cheapest ways to get permanent residence in Panama. Visa and residency for pensioners. This option is designed for people who retired or rest, but who can provide proof of passive income (savings, payments from trust or fund, existing business) that can provide living expenses of at least US $ 1,000 per month per person or per matriculation pair. If the couple has underage children, each of them will need an additional US $ 250 per month. What does this give the investor? The opportunity to live in a country with a tropical climate and amazing natural diversity, without unnecessary bureaucratic red tape associated with the issuance of permits for long-term residence. One option for obtaining a pension visa also includes obtaining a Panama passport for travel (but not citizenship) if the investor is willing to place a deposit with one of the local banks, and such a deposit can bring a monthly income of US $ 2,000. Visa for qualified personnel. Investments are not required at all, just as a preliminary invitation from the company is not required. A qualified employee can come to Panama and obtain a temporary residence permit, while getting a full legal job, regardless of whether he already has an invitation from a local employer or not. Exclusion from the category of professionals who can take advantage of such a simple option of immigration are doctors, psychologists, engineers, social workers, nurses, lawyers, economists, accountants and real estate agents. These professions the state of Panama secured exclusively for the local population.