Relocating to Panama must be done through a Panamanian lawyer or Panama law firm. If you're not sure which is the most convenient program for you, then please browse through the various options to see what best suits your future plans upon arriving in Panama City. You may also contact our lawyers or assistants to make an appointment to visit us.

The Retirement Visa

This visa requires that the retiree establish a long-term saving account with a minimum duration of 5 years, with "Banco Nacional de Panama", a sovereign bank. The amount of this deposit should generate a monthly interest of no less than 750 USD, an amount considered the monthly income of a retiree.

The main attraction of this type of visa is that it allows one to obtain a special renewable passport, issued by the Panamanian Government, which is valid for 5 years. This passport is a valid travel document for the bearer, but does NOT grant Panamanian Citizenship. This type of Visa takes roughly 15 working days to obtain, and must be requested through a Panamanian attorney.

The Pensioned Tourist Visa

The applicant of the Retired Tourist Visa must b retired from a foreign government, international entity or private company. The retiree must receive a monthly income or pension of at least 500 USD and additional 100 USD for each dependant.

Benefits of The Retired Tourist Visa are:
+ Total exemption from import duties on personal and domestic goods up to the value of 10,000 USD.
+ Import tax exemption every two years on a motor vehicle for personal or family use.
+ Indefinite residency as soon as the application is submitted.
Multiple tax exemptions and discounts on various services in Panama, such as movies restaurants, concerts and public transportation to name a few.
+ Indefinite residency 15 years after applying for the provincial residency permit.
+ Tax exemptions and discounts on various services in Panama, such as movies, restaurants, concerts public transport and medicine to name a few.
+ Exemptions from import duties on personal goods up to a value of 10,000 USD.

The Self-Economic Solvency Visa

There are three ways to obtain this type of Visa:

1- Purchase Real Estate in the Republic of Panama, for a minimum value of 200,000 USD and present evidence of sufficient economic solvency to cover associated costs.

2- Purchase real estate in the Republic of Panama, for a minimum value of 80,000 USD and establish an account with a local bank, for a period of at least two years, with a minimum deposit of 120,000 USD.

3- Open a long-term account in a local bank for a period of at least 2 years, and a minimum deposit of at least 200,000 USD.

Benefits of The Self-Economic Solvency Visa include:
+ Permanent residency one year after applying for the provisional residency permit.
+ The right to a Panamanian Cedula (ID card)
+ The option to apply for Panamanian nationality five years after receiving the permanent residency.

The Small Business Investor Visa

This type of Visa requires a minimum investment of 40,000 USD and maximum investment of 150,000 USD. All documents expedited outside the Republic of Panama must apostilled or certified by a Panamanian Consulate in the place of expedition.

Benefits of The Small Business Investor Visa are:
+ Permanent Residency four years after applying for the provisional residency permit
+ The Right to a Panamanian Cedula (ID card).
+ Option to apply for Panamanian nationality 5 years after receiving the Permanent Residency.

Reforestation Visa

The client invests $40,000 in an approved Panama reforestation program. This allows the investor to obtain a Visa for themselves and their spouse as well as dependent children; no additional investment is required for dependents. This is the least expensive legitimate residency program we are aware of other than the small investors visa, which also requires $40,000.

The Visas are renewable annually and after either one or five years they become permanent residency Visas allowing the investor and their dependents to reside in Panama permanently. After five years one can apply for citizenship, please note we said apply not a guarantee and this application process for citizenship must be signed by the President of Panama and can take years. This is an extremely inexpensive way to obtain a Panama permanent residency.

Contact us: info@panamalegalconsultants.com