About the Panama Self Solvency Visa
Any foreigner who wants to apply to a Self-Solvency Visa has to invest a minimum of three hundred thousand dollars (US $300,000). The investment has to increase by US $2,000 for each dependent.
The applicant will receive a temporary residence, valid for two (2) years. Afterwards, the applicant will be eligible to apply for permanent residence.
The foreigner has the option to invest in Panamanian Real Estate, a Certificate of Deposit in a Panamanian bank, or a combination of these two, as explained below.
The applicant must prove that all funds come from abroad. The minimum $300,000 must be invested as equity. Mortgages do NOT count against this threshold. However, if the value of the property is greater than $300,000, the applicant is allowed to finance the amount above $300,000 with a local bank.
The applicant may register the property under his name. Alternatively, the property may be registered under the name of a Private Interest Foundation as long as the applicant is identified as the founder, and either the applicant or the dependents are identified as the beneficiaries.
- Notarized Power of Attorney and Application.
- Five (5) passport-size photos.
- Notarized photocopy of applicant’s passport.
- Background check.
- Certificate of good health issued by a local Panamanian doctor.
- US $800.00 by certified check issued to Servicio Nacional de Migración.
- US $250.00 by certified check issued to Tesoro Nacional.
- Sworn declaration of personal background.
- Certificate from the Public Registry, indicating the ownership of Real Estate under the name of the applicant or a Private Interest Foundation. This certificate must indicate the property is free of liens, and a minimum value of US $300,000.
- If the property is under the name of a Private Interest Foundation, the Certificate must also indicate the founder and beneficiaries.
- For each dependent, the application needs to include:
- Letter of accountability for the dependent.
- Proof of ties between the applicant and the dependent.
- Proof of address – applicant and dependent must live in the same address.
- If the dependent is 18 years old or more, single status and student status certificate.
- The applicant must prove that all funds come from abroad. The minimum $300,000 must be invested in a Certificate of Deposit in any Panamanian bank for at least three (3) years, in US Dollars or its equivalent in another currency.
Contact Us to learn more or to start with yourSelf-solvency Visa process.