About the Panama – Italy Treaty Visa
Italians to establish economic and professional activities in Panama.
The visa for Italian citizens was created in Law 15 of 1966 – called Friendship, Business, and Navigation treaty between the Republics of Panama and Italy – with the objective to encourage Italians to establish economic and professional activities in Panama.
With it, you can obtain Permanent Resident Status within six months, making it one of the simplest immigration processes in Panama.
THE TREATY VISA BETWEEN PANAMA AND ITALY
Even though Italy is not a Friendly Nation, the documents required to apply for Permanent Residency are very similar to those required to apply for Friendly Nations status. As an additional document, the applicant must provide a Proof or Certificate of Citizenship issued by an Italian government entity. An Italian to Spanish translator in Panama must translate the document, legalize it, and submit it to the Panamanian Consulate for verification by the Ministry of Foreign Affairs.
On the other hand, the applicant must provide the following documents:
To be eligible to apply for a Permanent Resident Visa, an applicant must demonstrate his interest in investing in Panama, in accordance with his economic or professional activity. This requirement can be met by incorporating a Panamanian Company or a Private Interest Foundation. It can also be met by purchasing a property in Panama or by presenting a Labor Contract from an appropriately incorporated company.
Complete Passport Copy of the applicant, which must be valid for the next six (06) months and duly notarized before a Panamanian Public Notary.
In order to meet the requirement of Economic Solvency, the applicant must open a Panamanian bank account. In this account, a minimum balance of US$ 5,000.00 and US$ 2,000.00 must be maintained for each dependent. Such amounts can be demonstrated by providing a Bank Reference or Bank Statement duly stamped by the bank in which the account is opened (minimum 4 medium digits).). It’s imperative to note that the National Immigration Service considers Bank References and Bank Statements only valid for a period of one (01) month.
A certified check of US$250.00 must be issued in favor of the National Treasury to cover the application costs under an immigration category.
In addition, the National Immigration Service requires a copy of the applicant's criminal record and that of his dependents, which should be issued by the country where the applicant has resided for two (2) years, and must be Apostilled, if the country is a member of the Haya Convention; or legalized before the Panamanian Consulate or Embassy in the country issuing the Criminal Report.
Copy of personal I.D. or resident I.D. of country of origin, which will need to be duly authenticated before a Panamanian Public Notary.
The applicant will be able to include in the same application as dependent his spouse and children under 25 years of age, as long as they have proof:
The family relationship. Couples must submit their marriage certificate and their children's birth certificates for Apostille to the Panamanian Consulate.
An apostille or legalization must be obtained for each certificate from the children's country of origin to show that they are fully dedicated to their education.
Additionally, the applicant must sign a letter of responsibility demonstrating financial responsibility for his dependents.
Last but not least, the National Immigration Service will require that the applicant and dependents obtain a health certificate issued by a Panamanian licensed doctor. They will also need to fill out the National Immigration Service's affidavit form.
This category of permanent residence usually takes four to five months to obtain. It may take between two (2) and three (3) months to get a working permit.
It is relevant to note that under this category the Certified Check for the amount of USD$ 800.00 is not a requirement since Italian citizens are considered nationals, therefore the deposit for repatriation will not apply for the applicant and his dependents under this category, making this the cheapest and quickest way to obtain Permanent Residency, as well as the right to acquire Panamanian nationality after five (05) years.