Panama’s Permanent Residency Program for Qualified Investors, often referred to as the “Golden Visa”,It offers investors an instant route to permanent residency after a successful application, with no obligation of continuous presence in the country.However, to maintain this status, investors are expected to travel to Panama at least once every two years.
This Golden Visa program opens the door to a variety of qualified investments, such as real estate purchases, bank deposits, or participation in investment funds.
Investors who are fluent in Spanish have the advantage of being able to access citizenship through the Golden Visa. The naturalization process can take from one to five years, depending on the person’s original nationality.
Highlights of Panamanian citizenship by investment
| Program Type | Qualified Investor Program |
| Time for citizenship | Up to 5 Years |
| Time Required for Citizenship | Instant after approval -To obtain citizenship, you must wait 5 years from the date you obtain permanent residency. |
| Minimal Investment | US$ 300,000 (Property) or US$ 750,000 (DepositFixed Term) |
| Requirement for Physical Presence | A visit every two years to maintain status |
| Timeframe for Application Processing | 1-2 Months |
| Visa-free Travel with Granted Citizenship | 141 destinations, including Schengen Area |
| Investment Options | Real Estate, Bank Deposit, Investment in Funds |
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How long can you stay with a Panama investor visa?
Under Panama’s Qualified Investor Permanent Residency program, also known as the Golden Visa, participants receive a permanent residency permit.To maintain this status, the participant must visit Panama at least once every two years, thus demonstrating their connection to the country. Assets invested under the Golden Visa can be sold after these five years.
After maintaining legal residence in Panama for a period of five years through the Golden Visa, investors will then be eligible to apply for Panamanian citizenship.
When to apply and how long it takes
You can begin your application for the Golden Visa up to 60 days before your required residency period in Panama expires. These procedures typically take between one and two months. You can submit your application regardless of your current location, whether inside or outside of Panama, as long as you have a legal representative to interact with the Panamanian Ministry of Immigration and Foreign Affairs.
Government fees for the investment visa in Panama
For Panama’s Qualified Investor Permanent Residency Program, there are certain fees that must be paid to the government. This includes a certified check for B/.5,000.00, which is directed to the National Treasury, and another certified check for B/.5,000.00, which goes to the National Migration Service.
Eligibility for Apply to golden visa panama
Panama’s Qualified Investor Permanent Residency scheme offers three different investment channels, each with a five-year lock-up period:
- Real Estate Investment: A sum of $3000$000 invested in real estate within Panama, free of encumbrances.
- Stock Market Investment: An investment of $500,000 in securities traded on the Panama Stock Exchange, facilitated through a certified Panamanian brokerage firm.
- Bank deposit: A placement of $750,000 in an authorized bank in Panama, for a period of 5 yearsPlease note that the interest generated by this deposit is tax-exempt in Panama.
Additional costs:
- An additional investment of $2,000 is required for each dependent.
- The National Immigration Service requires a fee of $5,000 for the principal applicant and $1,000 for each dependent.
- A payment of $5,000 must be deposited into the National Treasury by the principal applicant and an additional $1,000 for each dependent.
Documents you will need for Golden visa
This permit, as part of the Golden Visa program, is granted for two (2) years, after which you may apply for permanent residency. If you have dependents under the Golden Visa, the investment must be increased by two thousand balboas (B/. 2,000.00) per dependent, which can be verified with a local bank reference.
- Power of attorney and application. The power of attorney must specify the names and nationalities of the applicant’s parents.
- Three (3) photographs.
- Certified copy of your passport.
- Criminal Record Certificate.
- Health Certificate.
- Check certified by B/5,000.00 in the name of the National Treasury.
- Check certified by B/5,000.00 in the name of the National Migration Service.
- Sworn Statement of BackgroundPersonal.
- A bank certificate proving the creation of a fixed-term deposit account in the applicant’s name, for a minimum amount of seven hundred and fiftyone thousand balboas (B/.750000.00) or its equivalent in foreign currency, with a minimum duration of five (5) years in any authorized bank in the country. This fixed-term deposit must be free of encumbrances.
- Authenticated copy of the bank’s fixed-term deposit certificate.
For Dependents
- Letter of Responsibility.
- Proof of kinship.
- Proof of residence.
- If the dependent is over 18 years of age, a certificate of single status and certified educational records are required.
Permanent Residence Permit for Self-Solving Fixed Term Deposit (PRP-SEP-DPF)
To apply for Permanent Residence, the aforementioned requirements must be provided, excluding the Criminal Record Certificate and the verifications.
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Benefits of Panama’s Golden Visa Program
The naturalization process through the Golden Visa program involves the participation of various public agencies, including the Ministry of the Interior and Justice, the Ministry of Public Administration, the Electoral Tribunal, the Government Office, and the Presidency of the Republic of Panama. All naturalization applications under the Golden Visa program are approved and signed by the President of the Republic. Prospective citizens are advised to seek legal counsel to ensure that all necessary procedures are followed.
The Electoral Tribunal of Panama conducts an interview to assess the applicant’s Spanish proficiency and understanding of Panamanian history, geography, and civil rights as part of the Golden Visa process. The final application is submitted to the Presidency at this stage.
Although Panama does not officially recognize dual citizenship, it does not actively verify whether its new citizens under the Golden Visa program renounce other nationalities.
Citizens of several Latin American countries can expedite their citizenship application through a reciprocal agreement under the Golden Visa program. The timeframe for this expedited process is as follows:
- 1 year: Colombia, El Salvador
- 2 years: Argentina, Ecuador, Spain, Honduras, Mexico, Nicaragua, Peru
- 3 years: Uruguay
Next steps
In conclusion, Panama’s Permanent Residency Program for Qualified Investors offers a practical and efficient pathway to permanent residence and potentially citizenship. For foreign investors. With flexible investment options, minimal physical presence requirements, and immediate permanent residency upon approval, the program offers an attractive opportunity for those seeking to diversify their investments and secure a reliable residency plan.
However, it’s important to keep in mind that everyone’s circumstances are different and that the suitability of the program may depend on various factors, such as personal, financial, and immigration goals. Therefore, it’s always recommended to seek legal advice when considering these types of programs.
Furthermore, the landscape of Golden Visa programs is dynamic, with many countries around the world offering their own versions of investment-based immigration programs. It is crucial for prospective applicants to stay informed about global trends and changes in these programs, as the “best” or “most economical” program may vary depending on each individual’s specific needs and circumstances.
FAQ
The Panamanian government initially established a real estate investment threshold of $300,000 for the first two years of the program. This amount is set to increase to $500,000 starting in October 2022.
As a foreigner, you can invest in Panama through the Panama Qualified Investor Permanent Residency Program. Acceptable investments include real estate, securities on the Panama Stock Market, and deposits with a licensed bank in Panama.
The «best» golden visa can vary depending on the individual’s needs and priorities. However, Portugal’s Golden Visa Program is often highly regarded due to its relatively low stay requirement, the freedom to travel within the Schengen zone, and the ability to apply for citizenship after five years.
As of my knowledge cutoff in September 2021, the cheapest Golden Visa program is offered by Greece and requires a real estate investment of €250,000 (around $280,000).
The UAE golden visa is not a program recognized for direct entry into other countries. It provides long-term residency in the United Arab Emirates. However, the specific travel privileges of UAE residents would depend on the nationality of their passport, bilateral agreements, and the specific visa policies of the destination country.
Portugal, Greece, and Spain are typically considered to have relatively accessible and straightforward Golden Visa programs. These involve real estate investments and offer the perk of freedom of movement within the Schengen Area. The specific ease of each process can depend on individual circumstances, including the applicant’s nationality, financial situation, and personal preferences.
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