Panama offers a low cost permanent immigration option for nationals of 50 countries that maintain close friendly relations with Panama.
In order to encourage immigration from countries considered most favorable, Panama has created a immigration incentive which allows citizens of 50 countries to obtain PR status in Panama.
What makes Panama attractive?
- Panama is a very important trade hub and sea route links both the Pacific and Atlantic side through canal.
- Panama has stable political environment, pro-business government, fast growing real estate market, and economy.
- Panama canal brings one third of revenues with inflows of marine traffic of shipping goods.
- Foreign earned income is tax free.
- Low cost residency – Panama offers the cheapest residency program with path to citizenship and passport.
- Panama has adopted two official currencies US dollar and Balboa. Official currency is the US Dollar, but local coins called Balboas are also used, and have the same denomination as USD.
- Daily flights to major cities in the Americas and Europe, Toronto to Buenos Aires, and Madrid to Istanbul.
Benefits
• Permanent resident status
• Panama identity card
• The right to apply for a permanent work permit
• Plus, within a period of 5 years after obtaining permanent residence, the right to apply for Panama citizenship (passport)
Eligible countries
- Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Costa Rica, Croatia,
- Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Germany, Greece, Netherlands,
- Hong Kong, Hungary, Ireland, Israel, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta,
- Mexico, Monaco, Montenegro, New Zealand, Norway, Paraguay, Poland,
- Portugal, Republic of Korea, Republic of San Marino,
- Serbia, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, United Kingdom, United States of America, Uruguay.
Eligibility
According to the Migration office, the applicant must meet the following requirements.
- Main applicant has at least US$5,000 USD in a “personal bank account” in their name, plus the additional amount of US$2,000 USD for each dependant
- No criminal record
- Three personal visits required to apply
Residency conditions
No minimum number of days or presence required. This is only required to apply for Panamian citizenship or passport.
Friendly Visa Statistics
The Migration office has issued 61 visas in 2021, according to official statistics
