Friendly Nations: Panama Visa Fast-Tracks Residency Process
By Alice Beth
Interested in obtaining your residency visa in Panama? You couldn’t have chosen a better time. Employment opportunities in Panama are growing so rapidly than employers are forced to look overseas to fill the gap.
If you’ve ever considered working in, moving to, or buying property in Panama, now is the time. With the Friendly Nations Visa in action, people from around the world are packing their bags for paradise. While the salaries might not be at the same level as those in North America, the cost of living can be drastically less, and you will be in a tropical paradise!
The Republic of Panama has recently launched a fast-track residency program for citizens of 47 countries that are deemed “friendly nations” to Panama. This new decree makes it easier than ever for foreigners to work, play, and prosper in Panama.
Citizens of these friendly nations (listed below) are entitled to a streamlined application process for obtaining their permanent residency visa. Those who are starting a new business, buying an existing business, or finding employment with an existing Panamanian corporation can now gain immediate residency in Panama.
Panama’s 47 Friendly Nations:
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).
President Ricardo Martinelli issued this decree in May 2012 to simplify the visa process for foreign investors, professionals, and homeowners. Since its recent introduction, the wildly popular Decree 343 has been doing exactly that.
The Friendly Nations visa is seen by many as the cherry on top of a long list of advantages offered to foreigners by Panama. Besides being home to a growing economy, favorable tax laws, a tempting real estate market, and unparalleled retirement benefits, Panama has now added a fast-tracked visa process to the mix.
With last year’s implementation of Decree 343, living to Panama is more appealing than ever. Those looking to start a business in Panama’s thriving economy are no longer subject to the painstaking visa process that most countries require.
Panamanian corporations also applaud this policy as they continue to recruit foreign professionals and employees.
Remember, when considering relocating to any country, it’s important to have a trustworthy resource on the other end. To learn more about the Friendly Nations Residency Visa in Panama, please e-mail us. From visa advice to real estate guidance, we’re here to help.