Panama has become a top choice for individuals looking to relocate because of its economic growth potential, political stability, and location. There are various Panama residency programs — you can choose which one to apply for based on your qualifications. Here are the common ones and their requirements:
Qualified Investor Visa Program
The Qualified Investor Visa program is worth considering if you’re not a citizen of one of Panama’s friendly nations. You may qualify for this residency program if you’re a high-value individual willing to invest in Panama’s economy. Here are the investments from which you can choose:
- $500,000 in the Panamanian stock market
- $500,000 in Panama’s real estate
- $750,000 fixed-term deposit in the Panamanian banking sector
Your chosen real estate investment should be free of liens, so you should be financially able to afford the $500,000 investment without a loan or mortgage. The stock exchange investment and deposit should be run through licensed and qualified brokerage firms and banks, so assess all your options before investing your money. You also need to source all your investment funds from banks outside Panama to increase your chances of qualifying.
The Qualified Investment Visa applications are processed expeditiously, with some applicants receiving their permanent residency within 30 days — this is one of the fastest ways to get your residency.
Self-Economic Solvency Program
This is an alternative to the Qualified Investor Visa program for wealthy individuals willing to invest in Panama. You can qualify if you:
- Invest $300,000 in Panama real estate mortgage and loan-free
- Create a term deposit worth $300,000 in a local Panamanian bank for three years
- Combine the two options, as long as the total invested amount adds up to at least $300,000
Children up to 25 years old can also qualify as your dependents. You need to be able to show you can care for yourself and your loved ones while residing in the country.
Friendly Nations Visa Program
The Panamanian government offers this residency program to attract expats from developed countries. This residency program is only available to citizens of countries like Croatia, Andorra, Poland, Germany, Uruguay, and Brazil. Confirm whether your country falls under the Friendly Nations Scheme before applying for this visa.
To qualify for the program, you should establish an economic or professional tie with Panama. You can create an economic link by purchasing real estate in Panama, either out of pocket or through external financing.
The professional tie option is available for individuals who can’t raise the required investment amount. To qualify, you should be employed by a professional Panamanian corporation and be registered with the country’s social security system. Your employer should submit proof of income to show that you’re their employee.
Panama Pensioner or Retired Visa Program
You may qualify for residency if you’re a retiree or pensioner of a government program or private corporation. To qualify, you need a verifiable monthly income. Married individuals can combine pensions or annuities to meet the minimum income requirement. You may also be eligible for a lower income requirement if you invest in Panamanian real estate. There’s no age limit on this program, making it suitable for all persons with guaranteed income for the rest of their lives.
You Can Easily Qualify for Panama Residency Panama has some of the most sought-after residency programs since the country is favorable to live, invest, and work in. This country offers various residency programs suitable for different individuals. The Qualified Investor Visa and Self-Economic Solvency programs are ideal for wealthy individuals looking for favorable investment opportunities, whereas the Pensioner or Retired Visa program is suitable for individuals looking for an ideal retirement location. Panama residency programs have varying requirements, so keep researching until you find one you qualify for — you may be one step away from Panamanian residency.