Panama Self Sufficient Residency Visa or Panama Self Economic Solvency Visa
By means of Law-Decree No. 3 of 2008, Panama grants permanent residence to applicants who have sufficient income to cover the expenses for all their families’ needs while living in the Republic of Panama.
To opt for this type of Visa, the applicant may choose one of the following alternatives:
- Establish a time deposit in a bank located in Panama in the amount of US$300,000 (minimum) for a period of 36 months
- Buy in his own name, a condo, house or property in Panama for the minimum sum of US$300,000 and provide proof of the source and sum of the revenues with which he will cover his living expenses in Panama
- Buy in his own name or a foundation, a condo, house or property in Panama, plus also have three years time deposit in his name, in a bank located in Panama, for a combination of US$300,000, between the value of the real estate and the deposit.
Once the visa petition is filed, a provisional residency permit, valid for a period of two years is granted to the applicants. At the end of the two-years period, the applicant may apply for the permanent residency. The permanent residency permit grants the applicant an additional foreign resident permanent ID Card and the right to apply for Panamanian Nationality after 5 years (which includes the initial 2 years of temporary residency).
Self-sufficient funds program highlights
- This is perfect for applicants investing in real estate
- Applicants may opt for Panamanian citizenship in the future
Citizens from Asia, Middle East and Africa, kindly note that Panama’s Immigration Office may have your country on a List of Restricted Countries subject to Special Requirements. For more information, please click here.
The BusinessPanama Group provides a convenient One Stop Shop offering you the following services:
- Real estate brokerage to find a home or apartment
- Incorporation of companies, LLCs, trusts and foundations
- Banking & trading accounts
- Wealth management services
- Applying for visas, work and residence permits for expats
- Relocation services
For more information, please contact us.