In this guide, we’ll categorize and order these ways to obtain permanent residency, starting with the longest processes to obtain Panama Permanent Residency and concluding with the quickest ways to secure your permanent resident status. Before we begin, we must understand
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what it means to have Panama permanent residency and what you can do once you have obtained it?
A permanent residency in Panama allows individuals to reside in Panama permanently and also to work in the country without the need for additional work permits. This status grants foreign nationals the right to establish their home in Panama and engage in employment or other activities without time limitations, making it a significant step towards becoming a legal resident in Panama.
If you’ve ever dreamed of making Panama your permanent home, you’re in luck. Panama offers all permanent residency categories to stay in Panama, each with its own set of requirements and timelines.
The last visa is the quickest way to obtain your permanent residency.
Eight Years of Dedication: Crisol de Razas’ Path to Permanent Residency
To qualify for the Crisol de Razas visa, applicants must meet specific criteria, including maintaining provisional residency for the preceding 6 years and exhibiting good conduct during that period. The permanent residency application process entails submitting essential documents such as a valid passport, a certificate of good conduct from the applicant’s home country, a recent health certificate, payment of necessary fees, a sworn declaration of personal history, and additional documentation, depending on the applicant’s circumstances. Engaging the services of a qualified immigration attorney is highly recommended to ensure a smooth and efficient permanent residency process for Panama Permanent Residency.
Express Entry: Panama’s 2-Year Route to Permanent Residency
Friendly Nations Visa – Five Years to Permanent Residency
The Panama Friendly Nations Visa is the first option, requiring a 2-year commitment. Citizens from one of the 50 friendly nations listed can apply for this program. To qualify, you can either invest US$200,000 in Panamanian real estate (with the possibility of bank financing) or secure a legalized work contract with a Panamanian company. Initially, you’ll receive a 2-year temporary resident visa, and after these two years, you can apply for permanent resident status.
Self Economic Solvency Visa – Five Years to Permanent Residency
Another five-year avenue towards permanent residency is the Panama Self Economic Solvency Visa. To be eligible, you must demonstrate that you have a minimum of US$300,000 in a Panamanian bank account or own real estate in Panama valued at no less than US$300,000. Additionally, you need to show a steady income of at least US$3,000 per month for life. Similar to the Friendly Nations Visa, you’ll start with a 2-year temporary resident visa and apply for permanent residency after two years.
Reforestation Visa Program – Expedited Permanent Residency
If you’re eager to secure permanent residency in a shorter time frame, consider the Panama Reforestation Visa Program. This option requires an investment of $40,000 and leads directly to permanent residency, ultimately paving the way for a Panama Passport.
Marriage to a Panama Citizen – Expedited Permanent Residency
For those who find love in Panama, marrying a Panamanian citizen offers a quicker route to permanent residency. Once you tie the knot, you can apply for permanent residency, bypassing the temporary resident phase. The timeline for this process depends on individual circumstances but is generally faster than the 8-year options.
Investment for Permanent Residency Visas – Expedited Permanent Residency
Foreign investors can also choose the Investment for Permanent Residency route. By investing a minimum of US$160,000 in a Panamanian company or US$300,000 in real estate, you can apply for permanent residency. Similar to marriage to a Panama citizen, this process can be faster than the 8-year options, making it an attractive choice for those seeking a more expedited path.
To obtain the permanent visa, a 2-year temporary resident visa is first obtained, and then after 2 years the applicant can apply for permanent resident status. The process usually takes about 2-3 years. After 5 years of legal permanent residence and full immigrant status, one can apply for citizenship in Panama. Panamanian nationality law requires an oath of renunciation of former citizenships as a condition of naturalization. However, de facto, Panama permits dual citizenship, as the renunciation may not have an effect if it is not also executed through the relevant authorities of the applicant’s current country of nationality.
It is important to note that those with Panamanian permanent residency must visit the country at least every 2 years, and should stay in the country for more than 24 hours. Otherwise, their permanent residency may be suspended. However, this suspension is not automatic. When the foreigner enters Panama, the immigration officer has the authority to suspend a permanent residency at his discretion.