Friendly Nations Permanent Residency in Panama
Many have wondered what are the details on the Friendly Nations Visa in Panama, in fact, many do not have any idea that this opportunity of moving to Panama with a very low investment exists.
Do you know what are the new requirements to apply to the category of friendly countries in Panama?
Here you can find all the information you need to know.
The Migratory category of Friendly Nations Residency was modified by Decree No. 226 of July 20, 2021, for which from now on, foreign nationals of specific countries may be granted a Provisional Permit for two (2) years to those who request Residence as Friendly Countries, in order to exercise economic or professional activities, and after two (2) years you are eligible for the Permanent Residence.
What is the Friendly Nations Permanent Residency in Panama?
It provides a Permanent Residency in Panama with the right of having a Panamanian Cedula (ID), as well as a Work Permit.
The Work Permit is a separate process that is made after the approval of the Visa. The duration of the process is between 2 or 3 months, however, there are always diverse situations that can delay a process, this is why we always attempt to file the documents with all the documentation reviewed and complete.
Who can apply to the Friendly Nations Visa in Panama?
Only the nationals of the following countries can apply:
Great Brittain and North Ireland, Germany, Argentina, Australia, Corea, Austria, Brazil, Bélgium, Canada, Spain, United States of America, Slovakia, France, Finland, Netherlands ,Ireland, Japan, Norway, Cezch Republic, Switzerland, Singapur, Uruguay, Chile, Sweden, Poland, Hungary, Greece, Portugal, Croacia, Estonia, Lithuania, Latvia, Cyprus, Malta, Serbia, Montenegro, Israel, Denmark, South Africa, New Zeland, Hong Kong, Luxembourg, Liechtenstein, Monaco, Andorra, San Marino, Costa Rica, Paraguay, México, and Perú.
If you are not a national of any of these countries, you can still evaluate applying for other Residencies such as Professional Foreigner Residency, that is allowed for ANY country. This category applies as long as you have a Diploma from a University of a career that is not limited to Panamanians only.
Please take a look at our blogs for other Visas.
If you have identified you can apply and are interested then you should know you will need to fulfill the following main requirements:
- Three pictures.
- Have the police records apostilled or legalized.
3. You can apply to the following options:
Labor: You must submitt a letter in which the company that is hiring you at Panama explaining that you will be working for them, this company must have a commercial permit, other option is to register a company that will reflect you are a Director. (The company can be used for multiple parties).
Real Estate Investment: Have real estate of your own, or in the name of a Foundation or Society where your are the final beneficiary, and whose amount is not less than TWO HUNDRED THOUSAND DOLLARS (USD$200,000). The property can be financed as well.
Bank Fix Deposit: For a minimum amount of TWO HUNDRED THOUSAND DOLLARS (USD$200,000), and a minimum period of three years, in a personal capacity, Foundation or Company where the applicant is the final beneficiary.
4. You must be in Panama in order to register with Immigration Authorities, after that you can return to your country while the legal procedure is in progress, obtaining the Multiple Entry and Exit Visa, and having your procedure card.
This Residency allows dependents, so you can include your children, spouse and parents.
You can have more information about corporations, bank account opening, work permit, dependents and other Visa options in our web page: www.panamalegalgroup.com
If you have an Italian passport, you can apply to the Panama-Italy Visa, which provides the same benefits, however the expenses are lower since there is no need to pay the repatriation deposit of US$800.00.
If you already have the documents, what are the following steps to apply to the Friendly Nations Visa?
– We proceed to coordinate your trip to Panama for the proper registration or affiliation in Immigration. This procedure is mandatory and must be done in person. Once the documents have been presented, you can travel without any inconvenience, since you will have a temporary card with a multiple entry and exit visa, while the process lasts.
Is it necessary for you to travel with all the documentation ready?
– It is recommended, however, you have the option of travelling to Panama to evaluate the possibilities if you want and proceed with the registration in Immigration. The rest of the documents can be sent afterwards and filing the documents once you send them after your travel can also be coordinated.
Please leave your comment if you have any questions or experience you would like to share.
You can write to email@example.com or firstname.lastname@example.org for further inquiries or if you are interested in obtaining a Permanent Residency in Panama.