Permanent Residency for Italians In Panama
Permanent Residency for Italians in Panama
This Visa or Permanent Residency is exclusively for foreigners with Italian passport. It exists thanks to an Agreement between Panama and Italy. It is very similar to the Friendly Nations Visa, and provides Permanent Residency as well as Panamanian ID and Work Permit.
Italians who are interested in this Visa should have:
– Apostilled Police Records
– Work contract or if not, a Panamanian Corporation that reflects the applicant at the Board of Directors
– Local bank account with no less than US$5,000.00
This permanent residency is approved in approximately 2 to 3 months and you can include dependents. Dependents however, if they are over 18 years old, will not be able to apply to the work permit. Once the principal applicant has the Residency approved, he can apply to the permanent Work Permit.
It is important to mention also that Italians can also invest and open a business in Panama, as well as purchase properties, retire, and benefit of all discounts for retirees if they have the minimum age.
Permanent Residency also gives you the right to obtain license to drive.
Applicants for this Visa do not need to pay the US$800.00 of repatriation deposit, so it is a very convenient and non expensive option.