FRIENDLY NATIONS VISA PANAMA
NEW UPDATE: The government of Panama has just approved a new law (Executive Decree 197 of May 7, 2021) that changes the requirements for the Friendly Nations Residence Program.
Starting from August 5, 2021, Panama's Friendly Nations Residence Program will grant a temporary residence permit for 2 years, after which the applicant may apply for permanent residence.
The economic activity requirement is now limited to two options:
- Being employed in Panama by a legal Panamanian corporation with a formal employment contract and work permit.
- Purchasing real estate with a minimum value of US $200,000 (bank financing allowed).
Please note that those who have already submitted their residence applications under the Friendly Nations program and are in process, or those who submit their applications before August 5, 2021, will be processed under the previous requirements of the Friendly Nations law. However, those who do not submit their application before August 5, 2021, must comply with the new requirements.
For more information, please check this page for updates or contact us here.
The drafting of this Permanent Residence Decree establishes business and professional ties between Panama and the list of countries that comprise it.
List of Friendly Nations for Residence Visa in Panama Requirements to Apply for Friendly Nations Visa Panama The words "Professional and Economic Ties with the Republic of Panama" means that citizens of these 50 countries must establish Professional and Economic relationships with Panama, and this can fundamentally be achieved by starting a new business, or buying an existing business or being hired to work in a Panamanian company.
The applicant by maintaining economic activities means that it possesses a corporation in Panama or a new firm that is doing business in Panama. Foreigners in Panama are not allowed to establish a retail business in Panama.
Another option is to prove professional activity, this means that the applicant is employed in some Panamanian company or corporation, has a work permit and is registered in the Social Security system. Additionally, proof of income must be attached, which will be provided by the employer, as well as other documents proving such economic activities.
Foreigners, they will not be allowed to practice professions in some areas such as: Medicine, Veterinary Medicine, Lawyers, Architects, Engineers, among others.
Proof of Economic Solvency To satisfy this point, the applicant must demonstrate that he has at least $5,000 US dollars in a bank account in Panama, and $2,000 US dollars for each dependent, if any. If economic solvency is not evident, approval will be subject to the judgment and discretion of the immigration officer.
Dependents Dependents include Spouses and Children under the age of 25 as long as at this age they are dedicated full-time to university studies. The applicant must make a letter of responsibility for dependents. Each dependent child over 18 years old must additionally present a certificate of single status certified by their Country. Once the application is submitted with the other documents, the immigration office will issue a temporary residence card with a validity of 1 year, which will be replaced once this time has elapsed, by the permanent residence card, once approved by the Immigration Office. Once the application is approved, the applicant may apply for a Work Permit.
The President of the Republic, recently issued a decree whereby he ordered the Minister of Labor of Panama, to expedite the procedures for obtaining a work permit for citizens native to the 50 nations that make up the list of Friendly Countries.
List of Friendly Nations for Panama Visa
The Friendly Nations Visa program is available to citizens of specific countries that have diplomatic ties with Panama. The eligible countries include:
- Andorra
- Argentina
- Australia
- Austria
- Belgium
- Brazil
- Canada
- Chile
- Costa Rica
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Great Britain
- Greece
- Hong Kong
- Hungary
- Ireland
- Israel
- Japan
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Malta
- Mexico
- Monaco
- Montenegro
- Netherlands
- New Zealand
- Norway
- Paraguay
- Poland
- Portugal
- Republic of Korea
- San Marino
- Serbia
- Singapore
- Slovakia
- South Africa
- Spain
- Sweden
- Switzerland
- Taiwan
- United Kingdom
- Uruguay
- USA
Clarifying the Residency Requirements
The words “professional and economic ties with the Republic of Panama” means that citizens of these 50 countries must establish professional or economic relationship with Panama.
Documents currently required for immigration processing in Panama Law number 3 of the year 2008 in its article 28, establishes the following documents that the applicant must submit:
- Application for Permanent Residence, with a special power granted to a Panamanian Lawyer authorizing him to act on behalf of the applicant, which must be duly authenticated by a Local Notary and have the corresponding governmental seals.
- Copy of the Passport: A complete copy of the applicant's Passport must be submitted, duly notarized by a Panamanian Notary.
- Criminal Records: The applicant must submit a certificate of not having criminal records in the country of origin of the applicant, or the country where he has lived in the last 2 years. The National Migration Service of Panama requires the applicant to submit a certification authenticated by a federal, central or national police body or the criminal investigation authority. The certificate of criminal records will have a maximum validity of three (3) months from the date of issue, for immigration procedures at the Immigration Office.
- If the applicant submits a certificate of criminal records issued by a country where he is not a citizen, but a resident, he must submit a copy of the legal residence document, duly authenticated or apostilled.
- If the applicant has resided for the last 2 consecutive years in Panama, without leaving Panama, the certificate of criminal records must be prepared by the National Police (DIJ).
- The National Migration Service of Panama, will require that the certificate of criminal records be authenticated by the Consul of Panama from the Country that issues it or that it be apostilled, which is an internationally recognized authentication through some seals that adhere to the document. Learn about Panamanian Consulates around the world.
- Original medical report prepared by a Panamanian Doctor.
- Two Certified Checks:
- $250.00 US Dollars in the name of the "National Treasury" for Immigration Processing • $800.00 US Dollars in the name of the "National Migration Service" for Repatriation (Deportation) purposes Important: Once the Immigration Office has issued the resolution approving or denying the residence application, these checks will not be refundable.
- Personal Sworn Statement. The applicant must submit a sworn statement explaining the purpose for which he requests permanent residence and the necessary evidence to prove the ability to financially support his family and dependents. (This format can be provided by an Immigration Attorney from International Relocation Firm.
Additionally, a recently issued presidential decree requires the submission of the following documents: a.) Three (3) Passport-sized photographs. b.) A written statement explaining the economic activity carried out by the applicant in Panama. This can be explained in the following way: b.1) Economic Activity: Prepare documentation demonstrating that the applicant is a member of the management or executive team of the company or that he is the majority shareholder of a company or owner of a corporation in Panama. If the corporation or company in Panama is new, a copy of the annual tax (Unique Rate) being paid must be attached, as well as the business license. If the corporation or company has been established for more than 1 year, a copy of the tax return, peace and safety, or the certificate of good reputation must be submitted. It must also deliver evidence of the company's bank accounts or any evidence that reflects the income obtained by the company, as well as any other document that indicates income from rent on the properties it owns or income from any other activity.
Note: Please note that there are some economic activities, such as retail businesses, which are reserved only for Panamanian citizens b.2) Professional Activity: Professional activity refers to any work you have in any local company. The applicant must submit evidence of his employment contract, that the company is registered in the Social Security system, and that the employee has a Social Security card and work permit. There are several ways to obtain a work permit in Panama, including the figure of 10% for foreign employees known as the Marrakech Treaty. It will not be possible to carry out professional activities exclusively reserved for Panamanian citizens, such as Lawyers, Architects, Engineers, Doctors or Veterinarians (Among others).
c.) Proof of Solvency: In addition to the documents proving the economic and professional activity of the applicant, you must also deliver the following: • Certificate of a Panamanian Bank demonstrating that the applicant has at least $5,000 US Dollars deposited, and $2,000 US Dollars additional for each dependent he has. • Proof of income such as an employment certificate issued by the employer, indicating the salary received, Social Security number and Work Permit. This last point may be considered by the immigration officer with complete discretion.
d.) Copy of the Applicant's Identification Document: You must submit a copy of the identification document from the country of origin or any other issued by the Government in your country that has a photograph, such as a Driver's License. This will be submitted in addition to the Passport as proof of residence and citizenship. This document must be apostilled or authenticated by the Consulate of Panama.
e.) Dependents will require a letter of responsibility from the Principal Applicant: It will be necessary to submit a letter of responsibility issued and signed by the main applicant in favor of each dependent and attach the following documents: • Proof of Consanguinity or Relationship: They must attach a copy of the birth certificate if they are children, where the degree of consanguinity is evidenced and for spouses, attach a copy of the marriage certificate. • Dependents who are not spouses: They may apply as long as they are under 25 years of age, and only if they demonstrate that they are studying full-time at university or if they are incapacitated. • Dependents over 18 years old: They must submit a sworn statement stating their single status, which must be apostilled or authenticated by the Panamanian Consulate.
Please contact us to learn more details and hire our Immigration Services in Panama and visas for Panama.
Application for the Friendly Nations Visa in Panama for Work Reasons
A foreigner who wishes to apply for this visa must be employed by a company with the legal authority.
Similarly, the foreigner may establish a company in Panama (a Panamanian company), be the sole shareholder or part of the board of shareholders and be employed by this entity. The company must process an operation notice and submit its corresponding income statements.
This option is tied to obtaining a work permit, which must be approved by the Ministry of Labor so that the National Immigration Service can approve the two-year resident card. Once the two years have passed, one can apply for permanent residency and acquire a Panamanian identity card.
Phase I
First Step – Formation of the Corporation.
Suppose the client opts to apply under the work reasons category and has yet to establish a company to hire them. In that case, they must form a corporation in Panama, under which the contractor company modality will be managed through a work contract.
The applicant can start the formation procedures before their trip, as everything can be done remotely. We encourage the client to begin with this step.
Our law firm is an expert in corporate matters, so we can advise on the best way to form a corporation in Panama to meet immigration requirements.
It is a fundamental requirement that the client act as a shareholder of said corporation. Additionally, the corporation will need to process an operation notice and register appropriately at the Municipality of Panama, which are procedures that our office will carry out.
Second Step – Introduction to Opening a Bank Account in Panama for Dependents.
This step is only mandatory if the primary applicant will include their dependents in the application. Dependents must be members of the immediate family, a spouse with whom they are married, and children up to 25.
Likewise, if the visa applicant does not have dependents, they will most likely require a bank account in Panama, for which we will provide the complete bank introduction service.
It is advisable, especially for those with dependents, to open a bank account before traveling to Panama to apply for the Friendly Nations Visa, as the bank certification demonstrating the required amount for dependents is a fundamental requirement. The opening process for personal accounts can take between 4 and 7 business days, depending on the bank where the account is opened.
Third Step – Affiliation / Submission of the Friendly Nations Visa Application / Acquisition of In-process Resident Card / Acquisition of a Multiple Entry Visa to Enter and Leave the Country as a Resident in Process.
It is important to note that, to apply for the Friendly Nations Visa, the principal applicant and their dependents must travel to Panama with all required documentation and remain in the country until the in-process resident card is granted. This process can take between seven (7) and ten (10) business days, so it is advised that the applicant plans their trip with a stay of at least ten (10) business days.
Before the visit to Panama, an initial meeting will have already been arranged at the offices of Padilla and staff to review the documentation and the other dates when the applicant will need to attend the national immigration service.
The first visit to the national immigration service will be for the affiliation procedure, which must be completed before applying for the Friendly Nations Visa.
After the affiliation process is completed, work will begin on the file, and the application for the in-process resident permit will be submitted for three (3) months.
When the national immigration service accepts the application, the applicant is automatically granted the in-process resident card, valid for three (3) months. The applicant must return to the national immigration service for the card’s photograph to be taken.
After the applicant obtains their in-process resident card, a multiple entry and exit visa is obtained so that the applicant can enter and leave the country as a resident without losing their immigration status.
Once Phase I is completed, the applicant may return to their country if required.
Phase II
First Step – Provisional Approval for a Two (2) Year Residency under the Friendly Nations Visa Modality / Obtaining a Provisional Card for Two (2) Years.
After the in-process resident permit has been approved, the applicant and their dependents (if applicable) must travel again to Panama to obtain the provisional card, valid for two (2) years. They must visit the National Migration Department to get it.
Second Step – Application for a Work Permit. Since this application modality is linked with a work permit, the applicant must also go to the Ministry of Labor and Labor Development to apply for the corresponding work permit, which is required to approve the definitive residency permit.
Once the aforementioned is completed, Phase II of the process will have ended.
Phase III
First Step – Final Approval of the Friendly Nations Visa / Obtaining a Permanent Residency Card.
After the two-year provisional permit has expired, the applicant and their dependents (if applicable) will automatically receive the permanent residency immigration card.
They must visit the National Migration Department to obtain it.
Second Step – Application and Acquisition of the Panamanian Identity Card as a Foreign Resident in Panama.
One must visit the Electoral Tribunal to obtain the identity card.
It is recommended that if the applicant does not reside in Panama, they stay between ten (10) and fifteen (15) business days to complete this procedure phase.
requirements and Documents to Apply for the Friendly Nations Visa in Panama for Work Reasons
Document to bring from your country of residence:
- Police records are issued in the applicant’s country of origin or the country where they have continuously lived for the last two years.
- If the applicant provides a police report from a country where they are residents, the applicant must provide legal resident identification that is authenticated or apostilled.
- Immigration authorities require that the police record be authenticated by a Panamanian Consul issuing the document or Apostille.
- This document must be presented to the principal applicant and any dependents, if applicable.
- Marriage certificate (only if dependents are applying). Immigration authorities require that a Panamanian Consul authenticate the document in the country that issued the document or by Apostille.
- Birth certificate in case some minor children will apply as dependents.
Document to be processed in Panama once you travel for the application:
- Power of attorney (notarized) and application.
- Three (3) photographs (for both the principal applicant and dependents).
- A notary in Panama duly authenticated a copy of the passport (for both the principal applicant and dependents).
- Health Certificate.
- A certified check for B/.250.00 in favor of the National Treasury.
- A certified check for B/.800.00 in favor of the National Immigration Service. Personal Background Affidavit Form.
- Document demonstrating the purpose for establishing residency according to the economic activity to be carried out. a) For work reasons:
- Job Letter on company letterhead, signed by the company’s legal representative, stating position and salary, and Repatriation (Notarized).
- Certificate of Public Registry of Panama of the employing company.
- Copy of the Operation Notice of the Employing Company, if not available, justification as established by Law 5 of 2007 (Notarized).
- Copy of the power and Application of the permit previously submitted to MITADEL, signed by the legal representative and applicant.
Application for the Friendly Nations Visa in Panama for Investment in Real Estate in Panama.
A foreigner who wishes to apply under this modality must acquire a property in Panama for a minimum of US$200,000.00 (TWO HUNDRED THOUSAND US DOLLARS). If the value of the property purchased exceeds the required investment, the excess can be financed through a mortgage loan.
The property can be registered in the applicant’s name and in the name of a corporation in Panama where the applicant is a shareholder or a private interest foundation in Panama where the applicant is the principal beneficiary.
At Padilla Office lawyers in Panama, we can offer the service of:
- Incorporating legal entities such as corporations in Panama, private interest foundations in Panama, and limited liability companies in Panama to hold the property above.
- Searching for properties that fit your budget and taste, as we have a department specialized in real estate.
- Negotiating and processing purchase and sale contracts and representing the buyer.
- A provisional residency permit is granted for two (2) years when applying for a visa. After this period, one can apply for permanent residency and obtain a Panamanian identity card.
Phase I
First Step – Formation of a Legal Entity for the Optional Purchase of the Property.
Immigration law allows the property to be in the name of the visa applicant (i.e., in their name) and in the name of a legal entity, whether a corporation in Panama or a private interest foundation.
If acquired through a corporation, the applicant for the Friendly Nations Visa must act as the corporation’s sole shareholder. If acquired through a private interest foundation, they must be the sole beneficiary.
Second Step – Acquisition of the Property in Panama for a Value of No Less Than US$200,000.00.
The main requirement is that the applicant acquires the property free of mortgage liens.
The property transfer can be a delicate and complicated process if not handled with comprehensive advice from an expert.
Padilla has specialist lawyers who provide advice related to property research in all necessary government entities, represent the buyer to the seller, and draft or review the purchase contract to safeguard the buyer’s best interests.
The property transfer process must be completed before applying for a visa. One essential requirement is to present the property ownership certification of the property in Panama in the application.
Third Step – Affiliation / Submission of the Friendly Nations Visa Application / Acquisition of In-process Resident Card / Acquisition of a Multiple Entry Visa to Enter and Leave the Country as a Resident in Process.
To apply for the visa, the principal applicant and their dependents must travel to Panama with all required documentation and remain in the country until the in-process resident card is granted. This process can take between seven (7) and ten (10) business days, so it is advised that the applicant plans their trip with a stay of at least ten (10) business days.
Before the visit to Panama, an initial meeting will have already been arranged at our offices to review the documentation and the other dates when the applicant will need to attend the national immigration service.
The first visit to the national immigration service is for the affiliation procedure, which must be completed before applying for a resident visa.
After the affiliation process is completed, work will begin on the file, and the application for the in-process resident permit will be submitted for three (3) months.
When the national immigration service accepts the application, the applicant is automatically granted the in-process resident card, valid for three (3) months. The applicant must return to the national immigration service for the card’s photograph to be taken.
After the applicant obtains their in-process resident card, a multiple entry and exit visa is obtained so that the applicant can enter and leave the country as a resident without losing their immigration status.
Once the aforementioned is completed, Phase I of the process will have ended, and the client may return to their country.
Phase II
First Step – Provisional Approval for a Two (2) Year Residency under the Friendly Nations Visa Modality / Obtaining a Provisional Card for Two (2) Years.
After the in-process residency permit has been approved, the applicant and their dependents (if applicable) must travel again to Panama to obtain the provisional card, valid for two (2) years. They must visit the National Migration Department to get it.
Phase III
First Step – Final Approval of the Friendly Nations Visa / Obtaining the Permanent Resident Card. After the two-year provisional permit has expired, the applicant and their dependents (if applicable) will automatically receive the permanent residency migration card.
They must visit the National Migration Department to obtain it.
Second Step – Application and Acquisition of the Panamanian Identity Card as a Foreign Resident in Panama. They must visit the Electoral Tribunal to obtain it.
Requirements and Documents for Applying for the Friendly Nations Visa in Panama for Investment Reasons in a Property in Panama
Documents to be brought from the applicant’s country of residence:
- A criminal record certificate issued in the applicant’s country of origin or the country where they have lived for the last two years.
- Suppose the applicant provides a criminal record report from a country where they are not nationals but residents. In that case, the applicant must provide legal resident identification that is authenticated or apostilled.
- The immigration authorities require that a Panamanian Consul authenticate the criminal record in the country that issued the document or by Apostille.
- This document must be presented to the principal applicant and any dependents, if applicable.
- Marriage certificate (only if dependents are applying): The immigration authorities require that a Panamanian Consul authenticate the document in the country that issued it or by Apostille.
- Birth certificate for any minor children who will apply as dependents.
Documents to be processed in Panama once travel for the application has occurred:
- Power of attorney (notarized) and Application.
- Three (3) photographs (for both the principal applicant and dependents).
- A notary in Panama duly authenticated a copy of the passport (for both the principal applicant and dependents).
- Health Certificate.
- A certified check for B/.250.00 in favor of the National Treasury.
- A certified check for B/.800.00 in favor of the National Migration Service. Personal Background Affidavit Form.
- Public Registry Certificate of Panama that proves the property of the real estate, personally in the name of the applicant, a legal entity in which the applicant is the final beneficiary of the shares, or founder and final beneficiary of a private interest foundation valued at a minimum of $200,000.00.
Application for the Friendly Nations Visa in Panama for Opening a Time Deposit in a Bank in Panama.
A foreigner wishing to apply under this modality must open a time deposit in a bank in Panama for a minimum amount of US$200,000.00 (TWO HUNDRED THOUSAND US DOLLARS), free of encumbrances, for a minimum period of 3 years.
Upon visa application, a provisional residency permit is granted for two (2) years. After this period, one can apply for permanent residency and acquire a Panamanian identity card.
Phase I
First Step – Forming a Legal Entity for Opening the Fixed Deposit (Optional).
Immigration law allows the fixed deposit to be in the visa applicant’s name (i.e., in their name) or the name of a legal entity, whether a corporation in Panama or a private interest foundation.
If the fixed deposit is in the name of a corporation, the applicant for the Friendly Nations Visa must act as the corporation’s sole shareholder.
If it is through a private interest foundation, they must act as the sole beneficiary.
Second Step – Open a Fixed Deposit in a Bank in Panama for an amount not less than US$200,000.00 for a Minimum Period of Two (2) Years, Which Must Be Free of Encumbrances.
Opening an account in Panama can take five (5) to ten (10) business days.
At Padilla,lawyers in Panama, we can advise on everything related to opening accounts.
We recommend initiating the process before the client’s trip to Panama to apply for the Friendly Nations Visa. The entire process can be done remotely, so ideally, once the applicant travels to the country, the bank certification should already be obtained.
Our bank introduction service includes:
- Recommending the bank that best suits the applicant’s needs.
- Filling out banking forms.
- Tracking the process until the account is opened.
Third Step – Affiliation / Submission of the Friendly Nations Visa Application / Acquisition of In-process Resident Card / Acquisition of a Multiple Entry Visa to Enter and Leave the Country as a Resident in Process.
It is important to note that, to apply for the visa, the principal applicant and their dependents must travel to Panama with all required documentation and remain there until the in-process resident card is granted.
The period this process takes can be between seven (7) to ten (10) business days, so it is advised that the applicant plans their trip with a stay of at least ten (10) business days.
Before the visit to Panama, an initial meeting will have already been arranged at our offices to review the documentation and the other dates when the applicant will need to attend the national immigration service.
The first visit to the national immigration service is for the affiliation procedure, which must be completed before applying for a resident visa.
After the affiliation process is completed, work will begin on the file, and the application for the in-process resident permit will be submitted for three (3) months.
When the national immigration service accepts the application, the applicant is automatically granted the in-process resident card, valid for three (3) months. The applicant must return to the national immigration service for the card’s photograph to be taken.
After the applicant obtains their in-process resident card, a multiple entry and exit visa is obtained so that the applicant can enter and leave the country as a resident without losing their immigration status.
Once the aforementioned is completed, Phase I of the process will end, and the client may return to their country.
Phase II
First Step – Provisional Approval for a Two (2) Year Residency under the Friendly Nations Visa Modality / Obtaining a Provisional Card for Two (2) Years.
After the in-process residency permit has been approved, the applicant and their dependents (if applicable) must travel again to Panama to obtain the provisional card, valid for two (2) years. They must visit the National Migration Department to get it.
Phase III
First Step – Final Approval of the Friendly Nations Visa / Obtaining the Permanent Resident Card.
After the two-year provisional permit has expired, the applicant and their dependents (if applicable) will automatically receive the permanent residency migration card.
They must visit the National Migration Department to obtain it.
Second Step – Application and Acquisition of the Panamanian Identity Card as a Foreign Resident in Panama.
They must visit the Electoral Tribunal to obtain it.
Requirements and Documents for Applying for the Friendly Nations Visa in Panama for Opening a Fixed Deposit in a Bank in Panama
Documents to bring from your country of residence:
- A criminal record certificate is issued in the applicant’s country of origin or where they have lived for the last two years.
- Suppose the applicant is providing a criminal record from a country where they are not a national but a resident. In that case, the applicant must provide legal resident identification, which must be authenticated or apostilled.
- The immigration authorities require that a Panamanian Consul authenticate the criminal record in the country that issued the document or by Apostille.
- This document must be presented to the principal applicant and any dependents, if applicable.
- Marriage certificate (only if dependents are applying): The immigration authorities require that a Panamanian Consul authenticate the document in the country that issued it or by Apostille.
- Birth certificate for any minor children who will apply as dependents.
Documents to be processed in Panama once travel for the application has occurred:
- Power of attorney (notarized) and Application.
- Three (3) photographs (for both the principal applicant and dependents).
- A notary in Panama duly authenticated a copy of the passport (for both the principal applicant and dependents).
- Health Certificate.
- A certified check for B/.250.00 in favor of the National Treasury.
- A certified check for B/.800.00 in favor of the National Migration Service. Personal Background Affidavit Form.
- A certificate from a general license bank operating in the national territory confirms the existence of the fixed-term deposit valued at $200,000.00, free of encumbrance, with a validity of 3 years.
What do you do if you need to apply for a Friendly Nations Visa along with your dependents?
For each dependent, the applicant must add TWO THOUSAND DOLLARS (US$2,000.00) to the investment, which can be deposited in a bank account or be a direct part of the investment.
In addition to the requirements mentioned above, you need to provide:
- Letter of responsibility
- Proof of kinship; marriage certificate, birth certificate (duly authenticated by Apostille)
- If over 18 years old, a certificate of single status and certified studies must be presented.
- Take the first step towards a promising future in Panama.
- The Friendly Nations Visa of Panama offers a unique opportunity to start a new life in a country full of possibilities and growth. The law firm Padilla in Panama is here to help you at every step of the process, ensuring that you meet all the requirements and providing the necessary support to achieve your goals. Don’t wait any longer; contact us today and start planning your future in Panama.
