You must take the proper legal steps through immigration. Through special laws, foreigners are able to obtain permits for temporary or permanent residency in Panama, Panama’s work permits, and in some cases, Panama citizenship and/or Panama passports. Most of these Panama immigration laws have been created to promote foreign investment in Panama, which benefits the local environment and/or local economy. There are 8 types of visas in Panama:

  1. Pensionado (Retiree) Visa (Jubilado is obtainable after receiving this visa)
  2. Friendly Nations Visa
  3. Professional Employment Visa
  4. Reforestation Investor Visa
  5. Self Economic Solvency Visa
  6. Panama’s Business Investor Visa
  7. Married to a Panama Citizen
  8. Parents of Child Born in Panama Visa

Retirement Visa (Pensionado)

The following 3 are the most popular Panama’s residency visas and their requirements.

Requirements for the Retirement/Pensionado Visa:

  • You must be at least 18 years old with a lifetime annuity or pension paying a minimum of $1,000 USD per month + $250 extra per dependent. A letter from a government office, indicating the monthly income for life, is required.
  • Five (5) photos.
  • Passport.
  • Federal criminal record.
  • Good health certificate issued in Panama.
  • Affidavit form, fully answered and signed.
  • Proof of address in Panama (utility bill, rental contract, or letter from a hotel).

Processing Time: This visa takes 3-6 months to receive.

panama immigration officer

Friendly Nations Visa (New Requirements)

Established in 2012, this was a very popular visa where citizens from 50 countries could get permanent residency in as little as six months by starting a corporation and depositing $5,000.

In August 2021, the program was majorly overhauled. It now takes two years to obtain permanent residency through two applications:

  1. Apply for temporary visa and work permit.
  2. After two years, apply for permanent residency (proving you still comply with one of the options).

Friendly Nations Visa – Options and Costs

There are now three ways to apply for the Friendly Nations Visa:

  • Option 1: Employment contract and full-time employment with a salary of over USD $1,000 per month with an existing Panamanian company.
  • Option 2: Purchase real estate in Panama for over $200,000 (Bank financing allowed, no private financing).
  • Option 3: Deposit $200,000 in a CD (Certified Deposit) in a Panama bank account.

Fees: Lawyer and government fees for the two-year process cost close to $10,000, plus $2,000 per dependent.

Friendly Nations Visa – Required Documents

  • Application for Permanent Panama Residency with a Special Power of Attorney.
  • Criminal history background check.
  • Notarized copy of the entire passport.
  • Medical examination report from a Panama medical doctor (original).
  • Personal Sworn Affidavit.
  • 3 Passport size photos.
  • Written statement describing economic/professional activities.
  • Proof of Solvency.
  • Copy of Applicant’s Identification.
  • $5,000 in a Panamanian Bank Account.
  • Letter of responsibility for all dependents.
tocumen immigration queue

Business Investor Visa

Required Documents:

  1. Certificate of original legal status from the Public Registry (minimum capital stock of $160,000).
  2. Certification from the Secretary or Treasurer attesting that the $160,000 exists (notarized).
  3. Copy of the Business Plan for the company.
  4. Certification by a CPA accrediting ownership and the availability of $160,000.
  5. Signed statement before a Notary indicating total capital invested and the applicant’s role.
  6. Receipt of advance payment of capital gains tax (if acquiring an existing company).
  7. Copies of the Tax Return of the business with its “Paz y Salvo”.
  8. Unique Registration of the Taxpayer (RUC) for new businesses.
  9. Copies authenticated by the CSS showing a minimum of five (5) Panamanian employees per applicant, earning at least minimum wage.
  10. Paz y Salvo of the CSS in favor of the business.

Panama’s New “Red Carpet Visa” (Real Estate)

A quick path to residency similar to “Golden Visa” programs:

  • Investment:

300,000 (for the first 24 months of the program) in real estate.

  • Other Options: $500,000 in the Panamanian stock market or $750,000 in a time deposit (held for 5 years).
  • Benefit: Applications handled by the Ministry of Commerce; processing time is expected to take no more than 30 days.

Short Stay Visa for Remote Workers (Digital Nomads)

Designed for digital nomads employed by companies outside of Panama or self-employed:

  • Duration: 9 months, with a one-time extension of 9 additional months.
  • Income Requirement: Minimum annual income of US $36,000 from sources outside Panama.
  • Requirements: Application form, 3 photos, certified passport copies, criminal record, health certificate, health insurance policy, and letter of employment.

Self-Employed Remote Workers and Costs

Self-employed applicants must prove ownership of a company registered abroad and provide a sworn statement of business activity. All foreign documents must be apostilled or legalized.

Costs:

  • US $250.00 for the National Immigration Agency.
  • US $50.00 for the Visa Card.

Note: Always consult with an immigration attorney to verify which visa is best for you.

panama immigration desk