PANAMA IMMIGRATION FOR SOUTH AFRICANS

PANAMA IMMIGRATION FOR SOUTH AFRICANS THE BEST CHOICE IS FRIENDLY NATIONS THIS IS THE MOST COMPETE

Immigration

HOW DOES PANAMA ATTRACT SOUTH AFRICANS SEEKING TO EMIGRATE?

Each person’s list is different, so let’s start with the basics and work our way up. Expat South Africans generally choose the UK, or other former British colonies, as their destination when they emigrate and expatriate. Many South Africans have European cultural roots, speak a foreign language, and are familiar with the country’s history. Nevertheless, all of these countries (UK, Australia, New Zealand, US, etc.) require long and expensive processes in order to achieve the proper legal status. Essentially, the processes are so lengthy and costly that it’s no longer a viable (or safe) option for some, given the current state of South Africa. A stable economy, investment opportunities, a welcoming culture/society, and an efficient and economical legal residency process are all necessary for South Africans. This is where Panama excels. It is clear that Panama meets all of the aforementioned criteria, and then some. Panama has a stable economy and the best banking in the region, as well as multiple investment opportunities and a streamlined residency process, which is why South Africans are starting to take advantage of all of Panama’s advantages.

THERE ARE A WIDE VARIETY OF RESIDENCY VISAS AVAILABLE TO SUIT ALL PURPOSES AND LIFESTYLES, ALL AT INCREDIBLY LOW PRICES

Panama offers eight different visa options for foreigners, which could include many of the potential demographics of South Africans moving abroad. The visas are as follows:

THE FIRST. A PENSIONER (RETIREE) VISA IS AVAILABLE IN PANAMA:

You must be at least 18 years old and have a lifetime pension or annuity that pays a minimum of $1,000 USD a month. Dependents must also be paid $250 per month through annuities or pensions. Annuities or pensions can be paid by a private company, a military force, a government agency, a corporation, a bank, an insurance company, or a trust. A Panama visa offers discounts on movie theaters, restaurants, hotels, pharmacies, concerts, and domestic airlines, among other things.

THE SECOND. THE FRIENDLY NATIONS VISA FRIENDLY NATIONS VISA IS AS FOLLOWS:

Panama visas for citizens of any of the 50 nations considered to be “friendly” to Panama are faster than those for any other country. It is possible for a friendly citizen to either buy or start a business in Panama, or to be employed in a Panama professional services company in a professional capacity. Permanent residency can be achieved within 3-6 months with the Friendly Nations visa, which offers the option of obtaining a work permit as well. For permanent residency (without a work permit), it costs around $5,000 USD. Visit our Friendly Nations Visa page to learn more.

THE THIRD. WORK VISA FOR PROFESSIONALS:

After two years of being a temporary resident, foreigners who work for a Panama company in a “professional” capacity, pay social security taxes, and hold a college degree and professional license (if needed by their country) can become permanent residents. It is not limited to the definition of a professional in Panama’s Constitution or law.

THE FOURTH POINT. PANAMA’S INVESTOR VISA FOR REFORESTATION:

Reforestation projects certified by the government require a minimum investment of US$80,000 including the purchase of five hectares of titled land along with an additional investment of US$2,000 for each dependent. Find out more about the Panama Reforestation Visa.

THE FIFTH. VISA FOR PANAMA’S SELF-ECONOMIC SOLVENCY:

There are three options for qualifying for this visa designed to attract wealthy foreigners: A minimum investment of US$300,000 is required, plus an additional $2,000 USD for each dependent. Investment in a three-year CD with a Panama bank of at least US$300,000. Each dependent requires a $2,000 deposit. -Investing in both Panama bank CDs and Panama real estate with cash and equity totaling a minimum of US$300,000 (or its equivalent in foreign currency). For each dependent, an additional $2,000 USD must be invested. The applicant must demonstrate sufficient economic solvency to support themselves and their family. The applicant must also prove that they have no criminal record. The application process must be completed within one year of the initial investment.

6. VISAS FOR BUSINESS INVESTORS IN PANAMA:

Investment in Panama corporation capital stock of US$160,000 is required. In addition to being a shareholder, the foreigner can also be an officer. Each dependent must invest $2,000 more. All members of the corporation are required to obtain a work visa. The company must also register with the Panamanian Social Security Fund and pay the corresponding contributions. Visit our Panama Investor Visa page to learn more.

THE SEVENTH POINT. IF YOU ARE MARRIED TO A PANAMANIAN CITIZEN:

A permanent visa can only be applied for if the marriage is valid (not a sham). Panama is a great place to get married. If you and your partner decide to get married in Panama, make sure to have all the necessary documents and paperwork in order. It is also important to make sure that your marriage is legally recognized in your home country. Finally, ensure that the marriage is genuine and not a sham.

THE EIGHTH STEP. VISA FOR PARENTS OF PANAMANIAN CHILDREN:

Applicants over five years old who were born in Panama can apply for this permanent visa. Future Panamanian parents can apply for this permanent visa after their fifth child is born.   The visa is valid for two years and can be renewed indefinitely. Applicants must provide proof of their Panamanian birth, as well as income and employment information. Applicants must also provide proof of residence in Panama for the past five years.

WE CAN HELP YOU FIND THE RIGHT TYPE OF VISA!

It’s highly recommended that you carefully consider the visa type and compare it to what will serve you best when you move to Panama, and what will suit you best. The Friendly Nations Visa is the easiest and best (and most cost-effective!) option for many South Africans. An international survey recently revealed that Panama is the 2nd most affordable country in the world in terms of visa fees, which is fantastic news for those who are trying to make their move economically efficient. The process of immigration to Panama is quite complex, so we recommend doing plenty of due diligence before starting, and consulting with an experienced Panama immigration lawyer to help you understand your options and get the ball rolling as soon as you have a choice. The country of Panama is warm, welcoming, prosperous, and full of new opportunities. Experience it for yourself! Immigrating to Panama can be a great experience, and with the right knowledge and guidance, the process can be much simpler and smoother. We encourage you to take the first steps towards a new life in Panama!

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