Panama Friendly Nations Visa : Estimation Cost and Fees

Panama Friendly Nations Visa : Estimation Cost and Fees

PANAMA: FEES AND COST ESTMATION :CHANGES TO THE FRIENDLY NATIONS VISA

The Panamanian Government has issued, through Executive Decree No. 197 of May 7th, 2021, major changes to the Friendly Nations Visa. The Decree was published on May 20th, 2021 and will come into force in 90 days (August 20, 2021). The changes include the elimination of the possibility to access permanent residence by incorporating a business and opening a bank account and depositing the sum of Five Thousand Dollars (US$5,000.00). The changes that will be in effect starting August 20, 2021 are:

1. 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.

2. You can apply for this Visa by showing the purpose for the residency in Panama, depending on your economic or professional activity, save for those professions and activities reserved to Panamanians. You may demonstrate your purpose:

A. For work reasons: this entails that the applicant must have a job already in Panama as the work permit must be submitted and approved for the residency to be approved.
B. For investments in real estate: this entails 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. Of note is that 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.

  • Include dependents
  • If the applicant wants to include her / hers spouse, they must present a Marriage Certificate (valid only for 6 months) and all the requirements listed above.
  • Likewise, if the application includes dependent children, the birth certificate for each of them must be included.
  • Important observations
  • All documents originating abroad must be Apostilled (at the Secretary of State) or authenticated at the Consulate of Panama in your country.
  • If you have more questions, check out our Frequently Asked Questions. .
  • Please contact us today if you intend to apply for permanent residence in Panama with the Friendly Countries Visa Program.

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BASIC RATES AND COSTS
FRIENDLY COUNTRIES VISA - PROVISIONAL RESIDENCE
Cost for the main Applicant: $ 3,900.

Cost for dependents under 12 years: $ 1,200

Cost for dependents 12 years and older: $ 2,800.

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• Payment 1: Reservation fee,
• Payment 2: On the start

  • The process begins with the presentation of the initial application at the immigration office to obtain a temporary residence permit.
  • The immigration office usually takes 6 months (sometimes less) to resolve this initial application and then issue a provisional residence permit.
  • Once the provisional residence permit is issued, it is valid for 2 years, during which time the applicant must maintain the requirements mentioned below.
  • After 2 years, the holder can submit the application for permanent residence. The immigration office usually takes 6 months (sometimes less) to resolve the application for permanent residence.
  • Once the application is approved, the provisional residence permit is replaced by a permanent residence permit.

PAYEMENT

All services require an initial deposit of 50% of the legal fee. The pending balance of the legal fee is canceled at the beginning of our service. Amounts for other expenses and costs (usually payable to the Government) must be paid in advance.

Requisitos para la solicitud de RESIDENCIA PROVISIONAL de Países Amigos

Los requisitos para solicitar esta residencia son los siguientes:

  • Cinco fotos tamaño pasaporte.
  • Pasaporte y segunda identificación, como licencia de conducir o ID del estado.
  • Con respecto a capacidad económica:
    • Contrato de trabajo en Panamá: Requiere un contrato de trabajo entre el solicitante y una empresa panameña.
    • Propiedad de bienes inmuebles: requiere que el solicitante sea dueño de una propiedad panameña con un valor registrado de al menos USD $200,000, que pueda ser financiada con una institución local.
    • Certificado de Depósito: Depósito de al menos USD $200,000 dólares en un banco nacional en Panamá. Este debe incluir título, valor, plazo, y debe estar libre de gravámenes con una vigencia mínima de 3 años.
  • Verificación de antecedentes penales limpio de delitos del país de la ciudadanía, o del país de residencia durante los dos últimos años (en este caso se requiere una prueba de permiso de residencia). La verificación criminal debe ser nacional, por lo que para los EE.UU. por ejemplo, debe ser del FBI.
  • USD $800.00 por cheque certificado emitido al Servicio Nacional de Migración, en concepto de tasa de repatriación.
  • USD $250.00 por cheque certificado emitido a Tesoro Nacional, en concepto de tasa de solicitud.
  • Certificado de salud emitido por un médico local, dentro de los últimos 90 días antes de presentar la solicitud.
Get a personalized estimate for Immigration Panama
A personalized estimate based on your specific circumstances. None of the cost estimates are intended to be a guarantee of your costs or benefits. Your actual costs may vary. When you receive the calculation pre-order form in your mail this will be the exact fees and cost. The estimate en general is very close to the real fees and cost. We do or best to provide the best estimation.
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Choose employment contract if a local Panamanian company will hire you as a full time employee. Otherwise, you must either open a Panamanian Corporation or invest in Real Estate to qualify for the Panama Friendly Nations Visa
Does anybody in the application intend to obtain a Work Permit in Panama?
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