Panama Residency by Investment Program
Acquiring a Panama Residence Permit/ Permanent Residency
Permanent Residence Permit for Panama
FOR NATIONALS FROM SPECIFIC COUNTRIES
(Executive Decree No.806 of 9th October 2012)
Who is eligible for Panama’s Residence Permit?
This permanent residence permit is granted to foreign nationals coming from specific countries that have friendly, professional, economic and investment relations with the Republic of Panama and whose intent is to carry out economic or professional activities.
Foreign nationals wishing to benefit from this Permanent Residence Permit shall comply with all legal and statutory laws of Panama on business, labor or any kind of issues, depending on the professional or economic activities to be carried out. It is important to point out that they need to clearly understand that they shall be subject to all general legal and statutory laws, with special consideration for laws regulating business, professional and labor issues, as for example, not engaging in retail business, as this is reserved exclusively to Panamanian citizens, obtaining a work permit if they are to work within the national territory, or not practicing any professions requiring qualification that may be granted only to Panamanian citizens, among others.
The countries that specifically may apply for this permanent residence permit are:
Argentina,Australia, Austria, Brazil, Belgium, Canada, Chile, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Great Britain and Northern Ireland, Greece, Hong Kong Special Administrative Region, Hungary, Ireland, Israel, Japan, Latvia, Lithuania, Luxembourg, Montenegro, Netherlands, New Zealand, Norway, Poland, Portugal, Principality of Andorra, Principality of Liechtenstein, Principality of Monaco, Republic of Malta, Republic of San Marino, Serbia, Singapore, Slovak Republic, Spain, South Africa, South Korea, Sweden, Switzerland, Taiwan, United States, and Uruguay.
Anyone applying for this residence permit may request that such permit be extended to:
both spouses (formally married),
the parents of the primary applicant;
children who are minors;
relatives with disabilities;
any minor under their custody, care or guardianship;
single children over the age of 18 but under 25 years of age who are regular students attending
university or higher learning institutions.
This residence permit does NOT cover the applicant's siblings, married children of legal age, sisters-in-laws or brothers-in-law, cousins or other relatives.
The beneficiary of this type of residence is not required to establish his/her residence in the country;
nevertheless, he/she has to travel to Panama at least every two (2) years, to keep this residence and consequently its benefits.
Documents required for immigration processing:
1.
Power of attorney granted by the applicant and each family member of legal age in favor of our correspondent which provides the text of such power.
2.
3.
Certified or Cashier’s check from a bank in Panama in the amount of two hundred fifty dollars (US$250.00) in favor of Tesoro Nacional (the National Treasury), for each family member.
4.
5.
6.
continuous years in the Republic of Panama). See explanatory note No.4 below.
7.
applications for the residence permit are filed.
8.
9.
10.
member of legal age). form provided by the National Immigration Service.
11.
Documentation evidencing the intent to apply for permanent residence according to the economic or professional activity to be carried out, in any of the following ways:
a. Original employment agreement in favor of the applicant, duly approved by the Ministry of Labor and Development, and a letter of employment. The following needs to be obtained from the employer: certificate of good standing by the Public Registry and a copy of the Operation Notice; OR,
b. Certificate of Good Standing by the Public Registry showing that the applicant is a director/officer of the company and a certified copy of the share certificate in favor of the applicant that indicates the applicant is a shareholder having at least FIFTY-ONE PERCENT (51%) of the company’s capital.
12.
Proof of the applicant’s financial ability to cover his expenses, including a bank certification or bank statement of the previous month reflecting a balance of not less than four medium figures or other proof of his income that is acceptable to the National Immigration Service. Four medium figures is estimated to be the equivalent to US$5,000.00 in an account in the applicant’s name.
13.
Copy of the personal identity document or residence card of his/her country.
14.
Financial responsibility letter by the applicant where he/she declares himself/herself to be financially responsible for the relative he/she will support as his/her dependent and will assume the obligation to provide economic support and other general expenses, including the commitment to assume repatriation of the relative if necessary. This letter must include the telephone numbers and home address where the applicant can be found.
Note: Any financial responsibility letter must be accompanied by a public utility receipt, lease agreement, evidence of hotel reservation or any other document evidencing the applicant’s domicile during his/her stay within Panama’s national territory.
15.
Evidence of kinship (marriage certificate and/or birth certificate of each of the children for whom a permit is being applied for, as the case may be).
See explanatory note No.4 below.
15.
Any dependent who is of legal age but less than twenty-five (25) years of age shall submit:Any dependent who is of legal age but less than twenty-five (25) years of age shall submit:
- Certification of studies from institutions approved by the Ministry of Educationevidencing his/her status as a regular university student.
- Evidence of his/her civil status (Certificate of Unmarried State).
Explanatory note:
- IMPORTANT: Pursuant to the provisions of Executive Decree N’320 of 8th August 2008, the stay in Panama as a tourist for a foreign national of these specific countries shall be no more than 180 days.
- All foreigners must be previously registered in the Foreigner Registry section of the National Migration Service of the Republic of Panama.
In order to effect this registration, the applicant needs to submit the following:
- Two (2) passport-size photos
- Copy of the passport page with its general information and the one with the latest entry
- Paid registration fee
- Registration questionnaire, duly filled in
- Upon submission of full documentation at the National Migration Service, an identity card is issued to the applicant for a one-year period. Upon approval of the application, the permanent a residence identity card is issued to the applicant.
Important: When the temporary or permanent resident permit is being processed, the applicant must apply for a multiple entry visa. Failure to comply with this requirement will result in a two thousand dollars (US$2,000.00) fine per foreigner.
- Any documents issued in a foreign country shall be duly legalized by apostille or certified by the Embassy or Consulate of the Republic of Panama in the country where they were issued.
- Any documents issued in a foreign country in a language other than Spanish must be translated into Spanish by a Certified Translator accredited by the Ministry of Government and Justice in the Republic of Panama.
Legal grounds:
Executive Decree No.320 of 8th August 2008, which regulates Decree Law No.3 of 22nd February 2008, which creates the National Immigration Service and sets down other provisions, published in Official Gazette No.26104; Executive Decree No.416 of 13th June 2012, which creates the permanent residence sub-category for foreign nationals of specific countries.
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