Panama Living
Residency Visa options.
The government of Panama offers you six different options for residency
five of which give you a Panamanian passport as well. If you choose one
of the passport programs, you will automatically be granted dual citizenship
and a Panamanian passport after qualifying for five years.
Because Panama is also interested in inspiring you to invest, four of
their options involve committing various amounts of money to the country.
Panama, which guarantees you the exact same rights and protections in
life and in business as the native born, makes the transition process
easier and more comprehensive than any other country in the world.
*** Self Economic Solvency: either buy a 2 year $200,000
CD; or spend $200,000 on a property; or invest in a 2 year $120,000 CD
plus $80,000 on a property -- gain Residency plus a Panamanian passport.
*** Pensioned (Pensionado): prove that you receive regular
verifiable outside income from either a government entity, or private
business retirement plan, of at least $500 per month plus $100 for each
dependent -- gain Permanent Residency plus duty free export of auto and
household. See below for many other incentives under this plan.
*** Reforestation Investor: invest $48,000 in one of
several government reforestation projects -- gain Residency plus a Panamanian
passport.
*** Small Business Investor: invest $100,000 in a company
and hire 3 Panamanian employees -- gain Permanent Residency plus a Panamanian
passport. Depending on the kind of business you select, you may qualify
for a large number of business incentives. See Your Panama Business Guide
for further information.
*** Agricultural Investor: under this program, buying
two acres, building a house, and growing a small amount of soy beans won’t
qualify. The government has detailed outlines for what works and what
doesn’t so best to consult a reliable local lawyer who can interpret
the government parameters. If you meet the requirements, you’ll
gain Residency plus a Panamanian passport.
*** Rentista Retirado: depending on what the interest
rates are when you apply, you’ll need to purchase a 5 year CD with
BNP (the national bank of Panama) that gives you $750 per month in interest
-- in essence the government is borrowing your money and paying you interest
for 5 years at a time. Investing in this plan gives you a passport (renewable
every 5 years) which is good for travel only.
As always, with any important legal decision, it’s strongly suggested
that you consult a local lawyer for advice and procedural questions.
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