Panama Friendly Country Visa

panama friendly country visa

Remember that the assistance of the BusinessPanama experts in Panama, is always available to help you with this process. The Friendly Nations Visa was created with the aim of attracting foreign investment, promoting job creation, and strengthening cultural exchange. Applicants must demonstrate an intention to invest in the Panamanian economy or establish a business in the country. In return, they are offered a fast and efficient path to permanent residency. The program is especially attractive to entrepreneurs, investors, and professionals seeking to expand their horizons and take advantage of the benefits Panama offers as a center for trade and business in Latin America. At the same time, it also provides expatriates with the opportunity to enjoy the natural beauty, rich culture, and high quality of life that this tropical country offers. In summary, the Friendly Nations Visa is an open door for those seeking new opportunities and a home in Panama. In the following sections, we will delve deeper into the requirements, benefits, and limitations of this program.

List of Panama’s Friendly Nations

The list of “Friendly Nations” of Panama was selected for their strong diplomatic and economic relations with Panama. They reflect the globalized and welcoming nature of Panama’s migration policy. Here is the detailed list of countries included: Germany, Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Cyprus, South Korea, Costa Rica, Croatia, Denmark, Slovakia, Spain, United States of America, Estonia, Finland, France, Greece, Hong Kong, Hungary, Ireland, Israel, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, San Marino, Mexico, Monaco, Montenegro, Norway, New Zealand, Netherlands, Paraguay, Peru, Poland, Portugal, United Kingdom, Czech Republic, Serbia, Singapore, South Africa, Sweden, Switzerland, Uruguay.  

Program changes:
    • The new regulation started in August 7, 2021.
    • The program does not longer grant immediate permanent residency status. With new modifications the applicant will initially receive a 2-year temporary residency status and further the right to opt for permanent residency, just as many other residency programs.
    • The economical link with Panama can only be achieved by purchasing a real estate of no less than US$ 200K (applicant can finance the purchase or real estate), or setting up a time deposit for US$ 200K for 3 years in a Panamanian bank 
    • The professional link with Panama can only be achieved by having a formal labor contract with licensed company in Panama and conditioned to the procurement of a work permit issued by the Ministry of Labor.
    • The bank account in Panama or corporations are no longer required.
    • Taiwan has been removed from the list of countries and Peru has been included.
 
Once the visa petition is submitted before the Immigration Department, a 2-year temporary residency status will be granted. Upon the finalization of such period, applicant and dependents will be entitled to process a permanent residency application. The permanent residency permit grants the applicant an additional foreign resident permanent ID Card (cédula) and the right to apply for Panamanian Nationality after 5 years.

For more information, please contact us.

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