Requirements to obtain the residence permit of friendly countries.
Executive Decree No. 197 of May 7, 2021, adjusts the requirements for obtaining the Residence Permit for foreigners nationals of specific countries who maintain friendly, professional, economic and investment relations with the Republic of Panama (Friendly Countries).
Within the Decree modifications are made in the list whose nationals can opt for the residence permit.
This permit will be divided into 2 stages: first stage a provisional permit for a term of 2 years, and the second stage which grants permanent residence.
This Decree eliminates the option of presenting as a shareholder of a stock company incorporated in the Republic of Panama, and provides that the permit is requested for labor reasons (letter of employment) or for investment of a real estate, which may be financed by a local bank.
People interested in applying for this permit under the previous Decree that grants permanent residence in a single stage must do so before August 20, 2021, since after that date Executive Decree No. 197 of May 7 comes into force. of 2021.