PERMANENT RESIDENCE IN PANAMA

Bordered by the enchanting Caribbean to the north and the serene Pacific Ocean to the south, the Republic of Panama enchants its visitors with sprawling paradisiacal coastlines and an idyllic tropical climate. Beyond its natural allure, Panama stands out as a premier business destination, offering a plethora of advantages. Notably, Panama City is celebrated as one of the most economically feasible cities globally, as per the recent cost report meticulously crafted by The Economist's intelligence unit. Particularly appealing for foreign retirees, Panama has curated an exceptional program of benefits, securing its position as a world leader in this regard, as evidenced by its top ranking in Forbes Magazine's list of the best countries to retire.

Benefits:

• Most cost-efficient residence application
• Simplest application for permanent residence
• Favorable business climate, marked by nearly 6% domestic economic growth.
• Presence of top-tier medical care and hospitals
• Welcoming immigration system targeting educated professionals and investors.
• No establishment of domicile required.
• Significant advantage for frequent travelers for work or business
• Best airline connections in Latin America with a growing number of direct connections to Europe
• Possibility to extend benefits to relatives of the main applicant.

Permanent Residence Permit for Nationals from Specific Countries

Who may obtain this Residence Permit?

This permanent residence permit is extended to foreign nationals from specific countries with amicable professional, economic, and investment relations with the Republic of Panama, intending to engage in economic or professional activities. The eligible countries include but are not limited to Argentina, Australia, Austria, Brazil, Canada, Chile, and the United States.

Investment through a Securities Firm approved by the Superintendency of the Securities Market of Panama:

Requirements:

1. Foreign individuals investing $500,000 in securities through an approved Securities Firm are eligible.
2. Commitment must be maintained for five (5) years from the investment's perfection.
3. Certification from the Securities Firm, including investor details, investment amount, securities held, and custodian information.
4. Authenticated copy of the resolution granting the entity a license as a securities firm.
5. Certification from the Superintendency of the Securities Market regarding the registration of securities.
6. Documentation proving the investment's foreign funding, such as a foreign bank letter or statement.

Investment through a Fixed-Term Deposit in the Banking Sector:

Requirements:

1. Foreign individuals investing a minimum of $750,000 in a fixed-term deposit for five (5) years are eligible.
2. Authenticated copy of the term deposit from the issuing bank.
3. Bank certification indicating the deposit's details and confirming its foreign origin.
4. Documentation proving the investment's foreign funding.

Important:

• Investment term: Five (5) years minimum, mandatory.
• The applicant must be the final beneficiary of the shares of the legal entity holding the investment.

Real Estate Investment:

Requirements:

1. Foreign individuals investing $500,000 in real estate in Panama are eligible.
2. Certification by the Public Registry of Panama proving ownership.
3. Certification by the National Land Administration proving the property's value.

Important:

• Investment period: Five (5) years minimum, mandatory.
• The applicant must be the final beneficiary of the shares of the legal entity holding the investment.
• Financing the remainder through a local bank mortgage is permissible.

Real Estate Investment with a Purchase-Sale Agreement:

Requirements:

1. Foreign individuals investing $500,000 through a purchase-sale agreement made through a Deposit in Trust are eligible.
2. The deposit must be managed by a local bank or licensed trustee.
3. Authenticated copies of the purchase-sale agreement and trust agreement.

Important:

• Investment period: Five (5) years minimum, mandatory.
• The applicant must be the final beneficiary of the shares of the legal entity holding the investment.
• Non-finalization of the purchase before the Public Registry results in permit cancellation.

Common Requirement for Both Options:

1. Documentation proving foreign funding, such as a foreign bank letter or statement.

Important Notes:

• Documents to be submitted by the applicant and dependents include pictures, a complete passport copy, a criminal record certificate, and a health certificate.
• Kinship proof requires marriage and birth certificates.
• Additional documents must be completed with the assistance of attorneys in Panama, including enrollment forms, personal history affidavits, and power of attorney and responsibility letters if applicable.