Friendly Nations Visa - Permanent Residence Panama
INFORMATION ABOUT THE NEW LAW FRIENDLY NATION VISA PANAMA
On May 20, 2021, the government of the Republic of Panama enacted the Executive Decree No. 197 of May 7th, 2021, and further the Executive Decree No. 226 of July 20, 2021, which modifies the of Friendly Nations Visa Program. The new changes reduce the requirements but also the options for complying the program
- A temporary residence visa will be granted for a term of two (2) years.
- You can apply and obtain a permanent residency by filing a second application thirty (30) calendar days or less, prior to the expiration of the initial two (2) year temporary residency.
Previously, the residence permit as friendly nations granted a permanent residence in a single stage after the approval of the National Immigration Authority.
Before, the resident permit as friendly nations could be requested if the applicant was the owner of at least 50% of the shares of a Panamanian corporation.
Previously, the resident permit as friendly nations could be requested if the applicant was the owner of a real estate, with a value of more than B/. 100,000.00, now the value of the real state increase to B/. 200,000.00
With this Decree, the applicant do not need to prove his/her economic solvency. Before, the applicant had to provide a bank certification letter or account statement, reflecting a balance of no less than 4 average figures.
The new requirements to apply for the residence permit as friendly nations will be request as of August 20, 2021.
- You can apply for this Visa by showing the purpose for the residency in Panamá
- Depending on your economic or professional activity, save for those professions and activities reserved to Panamanians. You may demonstrate your purpose:
For work reasons: The applicant must have a job already in Panama as the work permit must be submitted
For investments in real estate: The applicant must purchase real estate in Panama for a value no less than US$200,000.00. This purchase can be financed by a local bank. The purchase must be made under the name of the applicant and not through a company or private foundation, however, as other visas in Panama allow this, it is likely that this Decree will be amended in the future to reflect that the applicant can purchase through a corporation or other type of legal entity.
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This immigration program first grants a provisional residency permit, for 2 years, before applying for and obtaining a permanent residency permit.
With filing the initial application with the immigration office for a temporary residency permit.
Once the provisional residency permit is issued, it is valid for 2 years, during which the applicant must maintain the requirements mentioned below.
BASIC DOCUMENTS REQUEST TO START THE PROCES
It is very important the documents are delivered the way the immigration office request .
Local Id cart or Drivers license
Police record with apostille - For Americans it must be the FBI record
If married the marriage certificate and apostille
Birth Certificate with Apostille
This for each adult person that immigrate with you ,
For minor childeren
Birth certificate with apostille
Id cart if they have
What are the requirements to apply for the residence of friendly countries in 2022?
However, like all types of visas, Panama will request a series of basic requirements and, in addition, some of the reasons that we will detail below:
- Power of attorney
- Three photographs
- A copy of the passport
- Criminal record certificate
- Health certificate
- Certified Check for B/250.00 in favor of the National Treasury
- Certified Check for B/800.00 in favor of the National Immigration Service
- Activities to be carried out in the country
- Copy of your identity document
- Family dependents must prove the degree of kinship (birth certificate, marriage certificate, etc.)
In addition to this documentation, decree 226/2021 has imposed the addition of necessary information, which must adhere to the following reasons:
Labor reasons: This residence permit for citizens of friendly nations of Panama, centered its foundations on offering those who maintained labor relations with Panama the possibility of continuing to have their immigration status.
Reasons for investments in real estate: The applicant will have to present a document of public registry of Panama. In it, the ownership of real estate in the name of the natural person or of the legal person must be verified. Another fact that should not be ignored is that the property must have a minimum value of $200,000 (US dollars).
Reasons for fixed terms: This new regulation also contemplates the reasons for fixed terms. In these cases, the beneficiaries must present a certificate from the bank that is operating in Panama. Of course, this entity will be in charge of supplying the validity of: deposits, values (minimum of 200 thousand dollars), names of the holders and their term.
What has made Panama such a desired country?
Panama is a country with a nature of privilege; In addition, it is a city with one of the most important cultural wealth in the world.
However, it is a Republic that allows its citizens to enjoy a privileged quality of life. Statistics indicate that more than 150,000 people a year want to settle in these lands permanently due to two essential points:
- Its comforts and natural beauty
- The special benefits that this country offers foreigners
It is no coincidence that so many people decide to emigrate to Panamanian lands, since this country has managed to rank second with the greatest economic projection and fourth among all Latin nations that offer a high quality of life.
If you are from USA, Canada, Europe, South Africa or other friendly nation countries , you can benefit of this residence permit if you have plans to move to Panama. Contact us!
Requirements for the Friendly Nations Visa PERMANENT RESIDENCY
To obtain permanent residency, the applicant must have hold the provisional residency for at least 2 years.
The application for permanent residency requires the same documents used to obtain provisional residency, which must be up to date. On top of that, the applicant must also submit his provisional residency.
If the applicant wants to include his/her spouse, a marriage certificate (valid for 6 months only) and all the requirements listed above must be presented.
Likewise, if the application includes dependent children, you must include the birth certificate for each of them.
All documents originating abroad must be Apostilled (at the Secretary of State) or authenticated at the Panamanian Consulate in your country.
Friendly Nations Panama
One of Panama´s most popular residence programs in recentyears is the Friendly Nations, which has been into a effect since June 2012.Changes to this program had been made during 2021, being Executive Decree dueto six which came into a effect July 2021. If you hold a passport from one ofthe following countries, you are able to apply
- COSTA RICA
- CZECH REPUBLIC
- GREAT BRITAIN AND NOTHERN IRELAND
- HONG KONG
- SAN MARINO
- NEW ZEALAND
- SOUTH AFRICA
- SOUTH KOREA
To qualify for the Panama Friendly Nations Visa, you need to:
- Be a national of one of the qualifying 50 countries
- Establish economic or professional ties with the Republic of Panama
- Show proof of financial solvency
- Provide the required supporting documentation
- Pay all required fees
Nationals (which can mean residents as well as citizens) of the following 50 countries can apply for permanent residence in Panama via the Friendly Nations program: