Looking to retire
or move to Panama permanently? Then this page is for you.
Below is all the information that you need to know about gaining
residency in Panama. For the rest of your plans see the other
pages Panama Living pages here.
Couldn't find what you were looking for?
Then why not check out the discussion
forum.
Panama Residency
The Panama Residency Program,
was created especially for those people looking to gain a
second residency or second home in Panama. There are many
different reasons for people to look into this, including
holidays/vacations, privacy, escaping from pressures of work
or or to retire in Paradise.
This program not only allows
you to buy a second home, or retire to the sun, but provides
the opportunity to build an expand an investment portfolio
in one of the most desirable tax free areas of the world.
Stages of Residency
- To begin with, the applicant for residency will obtain
a 3 month tourist card.
- Once the tourist card has been successfully obtained,
the applicant can apply for a temporary residency of a
year.
- The next stage is permanent residency, which will commence
at the beginning of the applicants second year.
- Once permanent residency has been granted, the applicant
will qualify for the right to apply for Panamanian
- Citizenship and Passport. this however is dependant
upon 5 years of continuous permanent residency.
Benefits of Residency
With approved residency, an
investor in Panama will be protected under the laws of the
Republic of Panama at all times.
The resident will be afforded
the right to work in Panama, offering their specific services,
all under the protection of the Panamanian Labor Code.
Residency Requirements
Documents
The applicant for residency
must travel to Panama in order to process all legal documents
of the application. Police clearance must be granted, with
a verifiable certificate showing the applicant clear of trouble,
issued within the last 6 months for the 5 year residency process
to begin. Documents that will be required to process the application
are as follows:
- A Valid passport, with 6 months remaining
- 2 copies of passport, both front and back
- 4 passport style photographs, (2x2cm)
- A Power of Attorney authorizing to act on your behalf
- An HIV Lab test certificate
- A medical certificate showing good health for a minimum
period of 3 months
- Police records from their jurisdiction
- A declaration stating nationality and Parent's names
Capital
In order to gain residence,
a minimum investment of $40,000 must be made. This will ensure
entry into the residency program, dependant upon the other
requirements.
Prior Visits
In order to complete the residency
application, the investor will be required to make between
1 and 3 short trips to Panama. These trips must all be made
within a 3 month timeframe to qualify.
Investment Package
In return for the investment
made by the applicant, they will receive the following, in
the form of an investment residency package:
- 3 month tourists card
- 1 years temporary residence
- Permanent Residence
- Panamanian Citizenship after 5 years
- Fixed Annuity of $5,000 per year for a 20 year period,
received by BVI Corp.
- Panamanian Passport
- Panamanian Identification as an Investor
- Working privileges in Panama
- Investors Expenses
Pensionado Program
In order to qualify for the
the Pensionado scheme, which holds many benefits for the retiree
moving to Panama, the retiree must gain Panamanian residency
as above, whilst also providing a retirement certificate in
the same process, and proof of a pension of at least $500
per month. The partner of the retiree does not have to be
retired, but must supply all of the other documentation in
order to gain the relevant visa and residency status. For
more information on the benefits of the Pensionado program
please click here.
For more information about applying for Panamanian
Citizenship pleas click here.
For more information about the residency
program please contact
us.
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