How To Get Panama Passport, Residency & Citizenship
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The Panamanian government has created several laws that enable foreigners to obtain legal Panamanian passports and residency. These laws have been created to promote foreign investment in the country which benefits the local environment or local economy of the Republic of Panama.
Below we have listed several immigration programs that offer permanent residency leading to passports, as well as several visa programs that are designed as work visas only.
There are currently two different opportunities to get a Panamanian an immediate passport:
*Update 2021: Panama has recently launched a Residency By Investment or Golden Visa option which has quickly become popular, more information about the program can be found here.
Panama Passport Details
Panama has made it a straightforward process to get a resident and citizenship which can be obtained after 5 years. It is currently one of the best places in the world in order to get permanent residency.
The benefits of the residency programs is that it can be used to gain full citizenship with minimal investment in time and money.
Retirement Visa
The retirement visa is a great option to consider if you are already retired and receive benefits of more than 1000 USD a month. In order to make sure that you have enough cash flow every month to cover living expenses the government makes you prove your pension that gas to be for life and from the government a private company.
Panama Friendly Nations
In order to start the permanent residency program, it is required to form a Panamanian company and open a bank account and deposit USD 5000.
Panama's immigration law does not require you to live in Panama full time in order to have residency. It only requires you to live and visit Panama once every two years in order to renew your residency status.
Panama Passport and Residency Benefits
Obtaining a second passport in Panama is useful for those who wish to:
- Expatriate from their country and give up their current passport because of onerous tax requirements that cannot be escaped from even by relocating abroad.
- Have a passport that provides for visa-free travel to over 80 countries.
- Have a passport from a small neutral country that does not have any enemies and therefore unlikely to be perceived individually as one in any type of potential hostile international situation.
- Desire to escape an increasingly authoritarian political climate in their home state.
- Have a second home overseas in a tropical country where they can live at or visit where natural disasters such as hurricanes, tornadoes, violent earthquakes and serious droughts are rare or unheard of.
- Have a 'safe haven' to escape to in the event of war or any type of civil unrest that may threaten their family or their assets.
- Live and retire in Panama with its excellent health facilities and diverse tropical city, mountain or beach lifestyle options.
- Relocate to a tropical, stable, safe country where it is very economical to live in comparison with most other developed countries such as the US, Canada, Europe, etc.
- Relocate to a country that is almost entirely agricultural self-sufficient with benign and ideal growing conditions for a very wide variety of fruits, vegetables etc.and unlikely to ever face food shortages.
- Relocate to a more 'tax friendly' country where foreign earned income, capital gains, and interest income is not taxed.
- Relocate to a country where frivolous lawsuits are not recognized by courts, and assets can be truly protected through a corporate shield, without the risks of 'piercing the corporate veil'.
- Relocate to a country where one can begin business operations economically, and without heavy restrictions, regulations, or taxes that hinder the growth of the business.
- Relocate to a country where the economy is booming and many business opportunities exist for entrepreneurs
- Relocate to a country where real estate is still affordable for purchasing homes in the city or land at the beaches, mountains, lakes, etc.
- Wish to purchase a yacht in Panama and have Panama be the 'base' for the yacht while otherwise living aboard and sailing the yacht to wherever they desire. The purchase of the yacht in most instances would be sufficient to qualify for residency leading to citizenship (more details).
Panama Visa Programs
For more in depth detail, click on each of the visa categories:
- Investor Visa (Inversionista)
- Person of Means Visa (Solvencia Económica Propia)
- Work Programs
Visa FAQ's
Do I need to travel to Panama in order to obtain my visa or passport?
Yes, you will need to travel to Panama to obtain your visa or passport. For the visa you will need to be present for the filing of the application, then you receive an interim card lasting 3 months and within that time the visa will be issued.
You need to be in Panama when the visa is issued and you should preferably be in Panama from the filing of the application to the issuance of the visa.
If you decide to travel outside Panama before your visa is granted, you will want to obtain a multiple entry permit. For either passport or visa issuance you will need to appear in person again for photos immediately prior to the passport or visa issuance.
What if I don't wish to relocate to Panama?
We recommend that if you obtain a visa to reside in Panama, and you wish to live overseas, that you make plans to visit Panama at least once a year (legally you may be away up to two years). In any case, you must obtain a multiple entry permit valid for up to two years before leaving.
We may assist you on obtaining this permit. Of course once you have a Panama passport you can choose to live anywhere and do not have to return to Panama if you don’t wish to except when the passport needs to be renewed. Passports are valid for 10 years and can be renewed at any Panama consulate, although for faster processing most prefer to come to Panama to renew passports.
What if I wish to travel outside of Panama?
Once you obtain a visa in Panama, even if you decide to live here permanently, but you wish to travel often, we recommend obtaining a Multiple Entry Permit. This will not be necessary once you have been issued with a Panama passport.
Summary
Panama is becoming increasingly popular as a 'Plan B' option for those alarmed at the current global economic unrest or alarmed at the increasing authoritarian tendencies in their own countries (i.e. Venezuela, Russia, U.S.A. etc.).
Many international investors and companies find Panama to be an excellent location for investing in reforestation, manufacturing plants, assembly plants, and distribution facilities for import/export, e-commerce, call centers, and a variety of other business activities. Many times, investors find that legal residency qualification is just an 'extra benefit' to the investments that they are making in Panama.
How to get a Second Citizenship in Panama
- Acquire permanent residency through one of the two options
- Have the residency for a period of five or more years
- Once the 5 year period is reacher you are able to apply for full citizenship
While Panama officially does not recognize dual nationality, they do not enforce you to give up your previous nationality. It is more of a symbolic act and we have not yet had anyone who has had to renounce their previous citizenship.
Panama Services from Offshore Protection
For more information about Panama and our services:
Foundations
- Panama Offshore Foundation
- Panama Foundation & Corporation Combo
- Panama Private Interest Foundation
- Panama Charitable Foundation
Structures
Citizenship & Visas
