Foreign nationals from fifty (50) countries that are considered friendly nations because of the professional and economic ties with the Republic of Panama, will be entitled to obtain residency and work permit with preference, if they can justify their presence in Panamá, that can be either by labor or investment option.
Labor option: the foreigner needs to present a Work letter from the Panamanian company responsible that will be hiring, where it will be stated the position, salary, and duration of the contract. The company will be responsible for all applicants’ expenses, including the repatriation fee.
Investment Options: the foreigner must invest in a real estate property, valued in two hundred thousand dollars (US$ 200,000.00), which can be financed with a local institution. The property can be purchased at the applicant’s personal name or through a Panamanian corporation or foundation, in which he needs to be the final beneficiary.
The investment could also be through a fixed term deposit, for the same amount of two hundred thousand dollars (USD $200,000) deposited in a national bank in Panama. This must include title, value, term, and must be free of encumbrances with a minimum validity of 3 years. The owner of the fix term could be a Panamanian corporation or foundation in which the applicant should be the final beneficiary.
Requirements to obtain Friendly Nations Residency in Panama:
- Original Passport with a minimum validity of three (3) months.
- Three carnet size pictures.
- Certified or cashier check for Two Hundred and Fifty Dollars (US$ 250.00) issued to the National Treasury. (For each applicant).
- Certified or cashier check for Eight Hundred Dollars (US$800.00) issued to the National Immigration Service, for repatriation fee. Mandatory to twelve (12) years old applicants and older.
- In terms of Economic capacity, one of the following:
- Work Letter: with the specifications explain above in addition to the documents that prove the existence of the Panamanian corporation, such as public registry certification and commercial license. Work Permit is required for the approval of this type of residence.
- Real Estate Ownership: Requires the applicant to own a Panamanian property with a registered value of at least USD $200,000.
- Fixed Term Deposit: Deposit of at least USD $200,000 in a national bank in Panama. This must include title, value, term, and must be free of encumbrances with a minimum validity of 3 years.
- Clean criminal background check from the country of citizenship, or country of residence from the last two years.
- Health certificate issued by a local doctor within the last 90 days prior to submitting the application
- Marriage or Birth Certificate duly apostilled issued within the last six (6) months, prior to submitting the application in case the solicitude includes any dependents such as spouse, parents, or children.
- Responsible letter and proof of economic solvency
- Lease agreement or a copy of an actual public service bill.
Timeframe of the residency.
The friendly Nations residency will have two (2) phases; the first one will grant a provisional residency for two (2) years, and once this time has been fulfilled, then we can apply for a permanent residency.
List of Friendly Nations countries.
|France||Germany||Great Britain||Greece||Hong Kong|
|Paraguay||Poland||Portugal||Republic of Korea||San Marino|
Modifications of the new requirements for Friendly Nations visa
The validity of the Executive Decree 226 of July 20, 2021 begins on August 7, 2021.