Panama Residency

Panama Residency

By http://robertgirga.com/RobertGirga/

Panama Residency

 It is relatively easy to gain residency in
Panama but nearly impossible to gain
citizenship.

http://robertgirga.com/RobertGirga/panama-residency/

 However, except for the right to vote and hold
office, foreigners who gain residency in
Panama have nearly all the same rights and
privileges as native born Panamanians.


 Over the years Panama has modified its
residency requirements making the process
more expensive but not prohibitive.


 By law you used to need to use a
Panamanian lawyer for the paperwork.


 In the last year Panama as started
“immigration fairs” which give foreigners a
streamlined approach to getting a ten year
visa and a work permit.


 This approach does not, however, lead to a
cedula and permanent residency in Panama.


 NOTE: Under current law to gain residency in
Panama the law requires that a lawyer do the
paperwork.


 If you need a referral to a competent
immigration lawyer in Panama feel free to
contact us at www.RobertGirga.com.


 This review of immigration and visa
requirements in Panama is for general
information only.

 Be sure to contact a competent attorney for
the most recent changes in Panama
immigration law.


 If you already have a visa or started the
process prior to any changes in the law you
are likely going to proceed under the old law
but be sure to ask you attorney.


Basic Routes to Panama
Residency


Basic Routes to Panama
Residency
 Retirees commonly look to get a pensionado
visa and residency in Panama.

 This requires that your social security check
or other pension come to at least $1,000 a
month, and more for each dependent.


 You can also make investments in business
or property in Panama to gain residency.

 And, you can marry a Panamanian citizen or
other legal resident of Panama and gain
residency as a dependent, even though you
may be the one who pays the bills.


Visas for Pensioners


Visas for Pensioners

 Panama has had “jubilado” or pensioner
visas for years.


 You will need to demonstrate a social security
payment or private pension of $1,000 a
month or more plus an extra $250 a month
for each dependent.


 These numbers may change over time.

 You will need to produce a letter from the
social security administration or your private
pension to verify your benefits.


 Commonly you will want this document
notarized and apostillized in order to be valid
for presentation to immigration in Panama.


 Ask your attorney about this.

 In addition your passport needs to be valid
and at least a year from expiration.


 You will need to produce a police report free
of arrests or convictions for five years
validated by the nearest Panamanian
consulate to your home residence or
apostillized in the USA.


 And you will need a medical exam done in
Panama.


Investment Visas and Residency
in Panama


 These programs include an investor visa, a
reforestation visa, and person of means or
private incomes visas.


 Requirements and availability seem to
change over time so this is, again, something
to discuss with your attorney.


 Typically for an investor visa you will need to
demonstrate investment in the range of
$160,000 and you will need to employ five
Panamanian workers full time at minimum
wage.


 This type of program provides a temporary
visa followed by permanent renewable visas.

 However, you must maintain the business
and keep paying the employees.


Panama Reforestation Visa and
Panama Residency

 This visa also seems to change with time but
in general you will need to purchase at least
10 hectares of land (25 acres) and plant
trees.


 This program provides a series of renewable
visas followed by a permanent visa and
residency. Ask your attorney about current
law and availability.


Panama Private Income Retiree
Visa and Residency
 Retirees without a pension but a lump sum
distribution at retirement can deposit

 a five year CD with the Panama National
Bank (BNP) sufficient to yield at least $750 a
month.


 This visa is renewable every five years and
gives one long term Panama residency and a
Panamanian passport for travel and but not
for citizenship.

 Terms of this visa opportunity will change
with time so be sure to ask your attorney.


Residency for a Person of Means
in Panama
 This option requires a CD of $300,000 in a
Panama bank for three years

 or a $300,000 cash down payment for
purchase of property.


 This investment leads in one year to renewal
and a permanent visa with the right to a
cedula or identity card.


 Five years after receiving permanent Panama
residency the “person of means” is eligible for
citizenship and a passport.

 Ask your lawyer.


Love and a Panamanian Visa

 The last means is to marry a Panamanian
national or foreigner who has already gained
residency.


 You will still need a lawyer and pay money for
the paperwork but this can be a much simpler
and more permanent solution to residency in
Panama.

 If you are already married you do not need
the other routes to immigration.


Go to the Fair

 The most recent addition to getting residency
in Panama is the immigration fair.

 You do not need an attorney and can obtain a
work permit and ten year visa the same day.


 However, this is not permanent residency.

 If you want to work in Panama now the
residency fair may be a better deal.


 If you are simply retiring here and have a
sufficient pension the pensionado visa is
probably the route to follow.

 In any case this is a non-professional update
of immigration laws.


 If you are serious about this contact us at
www.RobertGirga.com for a referral to a
competent immigration attorney.


Panama Residency

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