The Investor Visa: A Smart Way to Become a Panamanian Resident - February 2023
Panama has a stable government and well-developed economy. The government’s investor visa program is an opportunity for high-net-worth individuals and global investors to invest in the tropical nation’s development while acquiring residence status in a naturally beautiful country.
Under this program, you can make a financial contribution to the country and become a Panamanian resident simply through real estate investing. Whether you wish to own a condo at the beach or buy a hacienda (large estate) in the mountains, by investing USD 300,000 in real estate with funds that were generated abroad, you will qualify for permanent residency in Panama within one month, starting from the moment we submit the request to the national authorities.
The process is quick and straightforward, and our experienced Panama team will be there to guide you through all the different stages; from putting you in contact with the best real estate agents in the country, assisting you with all the required property due diligence and related payments, to completing the purchase of the property.
While working on the property purchase, our team of lawyers will also be on hand to help you prepare all the documentation that needs to be submitted to apply for the residency, which includes:
- National Criminal Background Check valid for 6 months;
- Passport-size photos;
- Certificate of good health;
- Declaration of personal background;
- Foreign or Local Bank Certification certifying the funds received and sent;
- Bank statements from the foreign bank, duly legalized, or a local bank, with authentication stamps from the issuing bank, to certify the transaction with the funds sent;
- Notarized letter, issued by the recipient of the funds, or bank certification (original) that confirms the deposit or receipt of the transfer, in accordance with any of the investment options described in the law;
- If the application includes dependents:
- Letter of accountability for these dependents;
- Proof of ties between the applicant and each 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.
Upon submission and revision of all the requested documentation, the local authorities will issue successful applicants and dependents (if applicable) with a permanent residency permit. The applicant must permanently live in Panama or return to Panama once every two years to demonstrate their connection to the country and maintain their residency permit. After 5 years of continued legal residence in Panama, investors will be eligible to apply for citizenship.
There are also alternative investment options that can help you qualify for permanent residency, such as investing USD 750,000 in a fixed term deposit within a licensed bank in Panama or USD 500,000 in the Panama Stock Market.
Whether you want to own a house in a beautiful tropical country or just invest in the local stock market, please contact our experienced team, and tell us a little about your situation and your requirements. We will be pleased to assist you.