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.
COMMENTS 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.
It is very important the documents are delivered the way the immigration office request .
Valid Passport
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
Friendly Nations Visa - Permanent Residence Panama
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.
Including Dependents
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.
Important Remarks
All documents originating abroad must be Apostilled (at the Secretary of State) or authenticated at the Panamanian Consulate in your country.
Friendly Nations Visa Panama
Friendly nationsVisa Panamahas been expanded to 50. See below for a complete List of Countries included in the Panama Friendly Nations Visa program. In order to apply for a permanent residency visa: The applicant must have either economic or professional ties with the Republic of Panama.
