Panama is an attractive place for people from all over the world to start a new life. It offers different ways to get residency, but the most popular ones are the Friendly Nations Visa, the Panama Retirement Visa, and the Investment Visa, also known as the Golden Visa. These visas are designed for different situations and needs, making it easier for people to choose the one that fits them best. In this blog, we'll explain the differences between each visa type to help you decide which one is right for you when you come to Panama.
Friendly Nations Visa: Your All-Inclusive Choice
Since its creation in 2012, the Friendly Nations Visa has become one of Panama's most sought-after immigration options. Despite some modifications over the years, this visa remains incredibly flexible and appealing. Open to individuals, families, and professionals from "friendly" countries, including Germany, Austria, Switzerland, the USA, and Canada, this visa offers a wide range of possibilities. To qualify for the Friendly Nations Visa, you have three straightforward options:
Investment: Invest a minimum of $200,000 in Panamanian real estate.
Fixed Term Deposit: Place $200,000 in a Panamanian bank for three years, with a 5% interest rate.
Work: Get a job offer in Panama.
It's as straightforward as it sounds!
Who Qualifies for the Friendly Nations Visa in Panama?
This visa caters to various needs. Whether you desire permanent residency in Panama, want a backup plan, or dream of starting your business in Panama, the Friendly Nations Visa has you covered.
What Are The Benefits of the Friendly Nations Visa?
Quick Processing: You can apply and get approved within just 3 to 4 months if you meet the requirements.
Family Inclusion: Your spouse and children under 25 can also be included in your application.
Work Opportunities: You're eligible to apply for a work permit in Panama.
Permanent Residency: After two years, you can apply for permanent residency and obtain your Panamanian E cedula (Panamanian ID Card). There's no minimum stay requirement to maintain your residency status. You only need to visit Panama every two years, which is excellent for expats seeking a plan B or second-home residency.
Jubilado Pensionado Visa: Best Places to Retire
Discover Panama's Jubilado Visa, designed for retirees seeking a hassle-free transition. With a minimum monthly pension of $1,000, you can enjoy quick permanent residency without renewals. This visa grants access to incredible discounts, saving you up to 50% on various goods and services in Panama. Plus, you can obtain a Panamanian cédula, simplifying daily life. Embrace your retirement in Panama effortlessly.
Who Is It For?
The Jubilado Visa is primarily designed for retirees. To be eligible for this visa, you need to have a pension or retirement income of at least $1,000 per month. With this visa, retirees can take advantage of Panama's jubilado discount and enjoy its pleasant climate and scenic landscapes in their golden years.
What Are The Benefits of the Jubilado Visa?
Quick Permanent Residency: You obtain permanent residency with just one application, and there's no need for renewals. If the paperwork is in order, you can even receive your temporary residency ID card within days.
Discounts: Retirees enjoy substantial discounts of up to 50% on various goods and services throughout Panama.
Cost-Effective: The Jubilado Visa is one of the most affordable residency options since the government doesn't impose any state application fees.
Local ID: You have the opportunity to obtain a Panamanian cédula, which serves as your national ID card and simplifies various administrative procedures, including the opening of a bank account.
Investment Visa (Golden Visa): Unlocking Panama's Opportunities
The Investment Visa, also known as the Golden Visa, is designed for forward-thinking individuals who recognize Panama's thriving economy and want to obtain Panamanian residency swiftly and efficiently. It's an ideal choice for those who don't qualify for the "Friendly Nations" Visa. Until 2024, you have the unique chance to secure this visa category by investing $300,000 in one or more real estate properties in Panama. And the best part? You can complete the entire process from the comfort of your home, without the need to travel to Panama.
Who Can Benefit from the Investor Visa in Panama?
This visa caters to business-minded individuals and investors who foresee Panama's economic potential and wish to secure their Panama residency with ease.
What Are The Benefits of the Investor Visa?
VIP Treatment: Receive priority service for your "Golden Visa" application.
Rapid Approval: Your application will be processed within a maximum of 30 working days.
Remote Application: Apply without the need to be physically present in Panama.
Fast-track application: A single submission provides you with permanent residency and your Panamanian personal identity card, known as the “E cedula."
How to Apply?
Applying for your desired visa category in Panama is a seamless journey with our guidance. Following a free initial consultation, we embark on the preparation process, meticulously reviewing and preparing all necessary documents. To ensure a successful application, kindly email us all required documents in advance, as only complete applications can be submitted. Once we give you the green light, you can plan your trip to Panama to complete the formal application process. Please coordinate your travel dates with our office for a smooth experience. For Golden Visa applicants, physical travel to Panama is unnecessary for filing your application.
Once formally filed, the National Immigration Service typically takes 3 to 4 months to approve your residency (30 days for the Golden Visa). We stay on top of your application, checking in with immigration three times a week. When it's approved, we'll give you a heads-up and pick-up your resolution for you. Upon approval, we will contact you and retrieve your resolution from the immigration office. To finalize the process, a second trip to Panama is required for the photography session for your permanent or 2-year migration ID card.
Panama has lots of visas to make your dreams come true, whether you're retiring, starting a business, or just looking for a change. Panama's got you covered!