Are you someone who loves to travel, wants a backup plan, or needs a second passport without the usual hassles? Welcome to the world of the Panama Travel Passport, a fantastic opportunity for people who aren't Panamanian citizens.
Discover the Panama Travel Passport
In this blog, we'll take you on a journey to discover the Panama Travel Passport. We'll explain its advantages, show you how to get one step by step, and tell you what makes it different. By the end, you'll understand how this passport can make traveling more convenient and give you a backup plan. Let's explore the world of the Panama Travel Passport together!
What is a Panama Travel Passport?
The Panama Travel Passport, also known as the Panama Private Retiree Investor Visa, is much like a regular passport but made for people who are not citizens of Panama. It's just like a typical passport, but with an extra line that shows your original citizenship. It’s essential to understand that having this passport does NOT make you a citizen of Panama, but it does give you travel privileges similar to those of Panamanian citizens, granting access to numerous visa-free destinations.
Benefits and How to Use It
Having a Panama Travel Passport gives you the same travel privileges as a Panama citizen. The passport provides visa-free access to over 142 countries and territories with which Panama has bilateral agreements. Plus, remember that having this passport doesn't make you a citizen of Panama, so you can still keep your own citizenship. No need to worry about any problems with dual citizenship!
How to Obtain a Panama Travel Passport?
To obtain a Panama Travel Passport, you need to first obtain the Private Retiree Investor Visa, which provides you with a five-year residency in Panama that can be renewed for another five years. Here's how the process works:
Private Retiree Investor Visa: You begin by applying for the Private Retiree Investor Visa. This visa grants you a five-year residency in Panama.
Investment: As part of the visa application, you must make a five-year investment in a Certificate of Deposit (CD) at the Panama National Bank. This CD should generate a minimum monthly interest of USD $850.
Required Investment: As of September 2023, the necessary investment is approximately USD $264,500.00.
Maintain the CD: It's crucial to keep the CD for the entire five-year validity of the passport. Withdrawing the funds prematurely can result in the cancellation of your passport.
Ready for Your Next Adventure?
The Panama Travel Passport is your key to exciting opportunities. It's not just a passport; it's a handy travel document and a smart backup plan.