Residence and Citizenship
If you have been looking for information about how to move to Panama, surely you have noticed that this is a country that is willing to receive foreigners, either through investments or simply through visas less complicated than in other territories.
Many times, the requirements for this type of document – residence visas – are usually somewhat difficult to obtain or are so many that it would take more time to compile all the information than the immigration process. In general, it is a tedious and bureaucratic process that in the end only offers the possibility of obtaining a temporary residence.
Luckily, Panama offers an option that surpasses other countries. It is the Friendly Nations Visa, an alternative to obtain permanent residence in a very short time and is available for an exclusive list of countries.
What are the friendly countries?
The Friendly Nations Visa was first announced in 2012; By this time, the list of friendly countries was limited to just 22 nations. Today, the list reached the following 50 nations:
Germany, Cyprus, Finland ,Liechtenstein, Norway, South Africa
Andorra, South Korea, France, Lithuania, Netherlands, Sweden
Argentina, Costa Rica, Greece, Luxembourg, Paraguay, Switzerland
Australia, Croatia, Hong Kong, Malta, Poland, Taiwan
Austria, Denmark, Hungary, San Marino, Portugal, Uruguay
Belgium, Slovakia, Ireland, Mexico, United Kingdom
Brazil, Spain, Israel, Monaco, Czech Republic
Canada, United States, Japan, Montenegro, Serbia
Chile, Estonia, Latvia, New Zealand, Singapore
Anyone with the citizenship of one of these countries automatically becomes a candidate for permanent residence in Panama in a short time. The requirements that are demanded, in addition to nationality, are:
• Valid passport of a country on the list of friendly countries.
• Criminal records showing that you have not committed any crime.
• Health certificate.
• Proof of financial solvency, a bank reference or account statements. You must have a backup amount of at least $ 5,000 (and an additional $ 2,000 for each dependent).
• Proof of economic activity. Either demonstrate that you have a company or business in Panama (which is allowed for foreigners) or a job letter demonstrating your performance within a company in the country.
For dependents (children) the limit is 25 years, if it is proven that they are studying at the university or if they are disabled. For dependents of legal age, they are required to present a sworn letter of singleness.
Once the visa application process for friendly countries has been successfully completed, you will receive a temporary residence permit with which you can work and live in Panama for at least 6 months.
Permanent residence in a short period time and without conditions of stay
Once the visa application process for friendly countries has been successfully completed, you will receive a temporary residence permit with which you can work and live in Panama for at least 6 months, a period of waiting to finally receive a national identity card and thus become a permanent resident of the country (status that will be extended to the entire family group).
Does this mean that you will have to stay these 6 months in the territory, without the right to travel? Not at all!, you will have the freedom to enter and leave Panama whenever you want. In fact, once you have obtained permanent residence, you will not be required to live there all year, either. Visiting the country a couple of days a year is more than enough.
Do you want to live in Panama, but do not have the privilege of having the citizenship of one of these countries? Don’t worry, there are many other options just as quick and easy
Contact us! Our work team is more than capable of offering you advice on which is the best option for you, as well as supporting you during each stage of the process.