Panama Golden Visa 2024: Residence by Investment Program

Panama offers a vibrant lifestyle that suits both city dwellers and nature lovers. Whether you prefer the energetic vibe of Panama City, the tranquil coastal beaches, or the refreshing, green highlands, there's something for everyone. With a tropical climate and year-round temperatures between 25°C and 30°C, you can explore Panama's diverse landscapes anytime. 

Your dream is living in this beautiful country, but you don't know how to make it happen? Let us help you navigate the process and turn your dream of moving to Panama into reality. We’ll guide you through the Panama Golden Visa process (your route to residency), ensuring a smooth and efficient transition.

What is Panama Golden Visa 

Panama Golden Visa also known as The Panama Residence by Investment Program offers global investors a chance to support the development of this tropical maritime nation while gaining residency and investment opportunities. Through this program, high-net-worth individuals can either contribute to Panama and obtain residency in 30 days or within four to 6 months, depending on their investment choice, with the potential to acquire citizenship after 5 years. 

Types of investment

Become a permanent resident of Panama through investment. The Panama Qualified Investor Visa offers different investment options in Panama to qualify for the Panamanian Permanent Residency. After 5 years of holding Permanent Resident status, the applicant may apply for Panamanian citizenship through a Naturalization process (once a citizen, a Panamanian passport may be obtained, which is optional). 

Investment in a Titled Real Estate Property

Invest a minimum of US$500,000 in titled real estate property in Panama. The investment can be in either residential or commercial property. Achieve a return on investment (ROI) of 6% to 7.2%. Invest in a Real Estate Pre-Construction Project of at least US$300,000 in a Panama Real Estate off-plan project.

Other investments

Invest $500,000 or more in the Panamanian stock market for five years. Alternatively, you can deposit $750,000 or more in a fixed-term account at a qualified Panamanian bank for the same duration, ensuring the deposit is free of liens. Both options offer a pathway to residency.

Panama Golden Visa Requirements & Eligibility Criteria

The Panama Golden Visa program aims to attract foreign investors by providing a pathway to permanent residency and eventual citizenship. This guide outlines the essential eligibility criteria, including financial requirements, background checks, and minimum investment amounts for real estate options. By familiarizing yourself with these criteria, you can streamline your application process.

To qualify for the Panama Golden Visa, you must show financial capability to invest in Panama without putting a strain on its social services or economy. The program requires proof of ongoing investment and a favorable report from Panamanian tax authorities, ensuring that your financial contributions benefit the economy without affecting the cost of living or changing the tax residency landscape.

To maintain the program’s safety and integrity, Panama conducts rigorous background checks on all applicants. This process includes a thorough security screening, a Know Your Client (KYC) assessment, and a detailed qualification review. These measures are designed to minimize the risk of application denial by verifying applicants’ backgrounds and ensuring there are no legal or financial issues that could threaten personal or national security.

RELATED: Getting a Mortgage in Panama as a Foreigner: A Full Guide

Minimum investment required

The minimum investment amount is a key eligibility criterion for the Panama Golden Visa program, reflecting your commitment to contributing to the Panamanian economy. As of October 2020, the Qualified Investor Visa requires a minimum investment of $300,000. This investment can be made in real estate, fund investments, or bank deposits in Panama and must be held for at least five years, demonstrating a long-term dedication to the country’s development.

Who is eligible for the Panama Golden Visa Program?

To qualify for the Panama Residency by Investment Program, individuals must be at least 18 years old, possess a clean criminal record, and make a qualifying investment in Panama through one of the approved routes: Qualified Investor, Friendly Nations, or Forestry Investor.

Children under the age of 18 (25 if they meet special criteria) and parents can be included in the same application!

How to Apply for the Panama Golden Visa Program

The Panama Golden Visa application process includes various steps to evaluate your eligibility, investment, and intent to obtain either temporary or permanent residency. With the right approach and documentation, you can streamline the process and move towards gaining residency and potentially Panamanian citizenship. Let’s start with the first step.

Step 1: Gathering the documentation

Start your Panama Golden Visa journey by gathering the required documents to demonstrate your investment and eligibility. This initial step is crucial for starting the application process smoothly. With the right paperwork, you’ll be on your way to securing residency. Requirements for Applying for Permanent Residency as a Qualified Investor with the National Immigration Service:

• Power of Attorney granted by the applicant (notarized).

• Application from the legal representative.

• Three (3) passport-sized photographs.

• Duly authenticated copy of the passport (by a notary or relevant authority).

• Criminal Record Certificate

• Health Certificate.

• Personal Background Declaration Form.

• Payment of $5,000.00 to the National Treasury.

• Payment of $5,000.00 to the National Immigration Service.

• Certification issued by the Directorate of Investment Promotion.

If you have dependents, also provide:

• Power of Attorney and joint application for dependents who are over 18 years old.

• Certificate proving the relationship: marriage or birth (authenticated and translated).

• Notarized Letter of Responsibility.

• Authorization letter if presenting only one parent.

• Payment of $1,000.00 to the National Treasury for each dependent.

• Payment of $1,000.00 to the National Immigration Service for each dependent.

• For children over 18 but under 25 years old, provide:

  • Certificate from an educational institution confirming full-time student status.

  • Affidavit of single status before a Panamanian notary public.

Image of the Declaration Jurada Sobre Antecedentes Personales

Step 2: Application Submission

The application is processed while the applicant may remain overseas. Your legal representative will submit the completed application package to the Panamanian immigration authorities on your behalf. This includes proof of investment and other required paperwork.

Step 3: Residency Process

Immigration is required to respond within one month. Once approved, the applicant has up to six months to travel to Panama to complete the process. The immigration authorities will review your application and are required to respond within one month. 

Applicants don't need to reside in Panama to qualify for or maintain their Panamanian residency. However, a brief visit to Panama is required to process the Permanent Resident Visa. To maintain the Permanent Resident status, the applicant must visit the country at least once every two years. To qualify for tax residency, one must reside in Panama for at least 183 days within a fiscal year.

Step 4: Receiving the Residency ID Card

Upon arrival in Panama, the applicant must take photographs for their Permanent Residency (PR) card. The applicant will then receive their Panamanian Residency ID card. The entire process, including property purchase, can be completed in about 80 days, assuming all documents are in order.

Benefits of Obtaining a Panama Golden Visa

The Panama Golden Visa program paves the way for you to join this dynamic country while offering numerous benefits beyond just residency. Here’s an overview of the highlights of Panama and the key advantages of acquiring a Panama Golden Visa.

• Processing time for only a few weeks

• After 5 years can become eligible for citizenship

• Open to all nationalities

• Over 114 countries visa-free travel with a passport

• Tax-free for global income

• Stable banking

• Stable political-economic situation

• International flight and good infrastructure

Processing time for only a few weeks

The Panama Golden Visa process is known for its efficiency, allowing applicants to secure residency in just a few weeks. Once the application is submitted with the necessary documents, Panama's immigration authorities are required to respond promptly. This streamlined process ensures a swift path to residency.

After 5 years can become eligible for citizenship

One of the most attractive aspects of the Panama Golden Visa is the opportunity to apply for citizenship after five years of residency. This opens the door to full Panamanian citizenship, granting you the right to live and work freely in the country. Additionally, it provides access to Panama’s favorable tax laws and other benefits.

Open to all nationalities

The Panama Golden Visa program is inclusive, welcoming applicants from all countries. There are no restrictions based on nationality, making it accessible to a diverse range of global investors. This broad eligibility makes it a popular choice for those seeking a second residency.

Over 114 countries visa-free travel with a passport

Panamanian passport holders enjoy visa-free or visa-on-arrival access to over 114 countries. This includes popular destinations in Europe, Latin America, and parts of Asia. The passport offers excellent global mobility, making it highly valuable for frequent travelers.

Tax-free for global income

Panama’s tax system is one of its major attractions, particularly for foreign investors. Global income earned outside of Panama is tax-free, meaning you won’t be taxed on income you generate internationally. This makes Panama an appealing destination for those looking to protect their wealth while minimizing tax burdens.

Stable banking

Panama boasts a robust and well-regulated banking system, known for its stability and security. It is home to numerous international banks, offering a range of financial services. This strong banking environment provides peace of mind to investors, ensuring the safety of their assets.

Stable political-economic situation

Panama is recognized for its stable political and economic environment, making it a safe and secure destination for investors. The country has a growing economy with consistent GDP growth, supported by key industries like banking, trade, and logistics. This stability fosters confidence among those looking to invest in the country’s future.

International flight and good infrastructure

Panama is well-connected globally, with a major international airport that offers flights to key destinations worldwide. The country's infrastructure, including its roads, healthcare, and utilities, is modern and reliable. This accessibility and infrastructure make it convenient for both residents and businesses to operate efficiently.

FAQ About Panama Golden Visa Program

The Panama Golden Visa Program offers a unique pathway to residency and citizenship for foreign investors. Just in case, to help you better understand the details, we've compiled answers to the most frequently asked questions about the Panama Golden Visa, covering eligibility, investment options, timelines, and more.

How much do you need to immigrate to Panama?

The amount needed to immigrate to Panama depends on the visa option you choose. For investment-based residency programs, such as the Panama Golden Visa, the minimum required investment starts at $300,000 for real estate or other approved investments. Other options, like the Friendly Nations Visa, may require a lower investment but still include fees and costs related to the application process. Additional expenses may arise if you're applying with dependents.

How much does a Panama Golden Visa cost?

Costs depend on the visa type and whether your family is included. For example, the Forestry Investor Visa starts at $80,000, plus application fees and other expenses.

Why More Canadians and Europeans Should Consider Panama Residency?

Canadians and Europeans should consider Panama residency for its tax-free status on foreign income, affordable cost of living, and high quality of life. The residency process is simple and fast, offering access to a stable economy and visa-free travel to over 114 countries. It's an ideal destination for retirees, investors, and digital nomads.

Do I have to pay taxes when living in Panama?

No, you don’t have to pay taxes on income earned outside of Panama while residing there.

Can I bring my family?

Yes, you can bring your spouse, children under 18 (or under 25 if they are students), disabled dependents, and parents. Additional costs may apply.

What is the minimum investment required for the Panama Residence by Investment Program?

The minimum investment required for the Panama Residence by Investment Program is $300,000, which can be made through real estate, fund investments, or deposits in a Panamanian bank.

Can family members be included in the Panama Residence by Investment Program application?

Yes, family members such as your spouse, children under 18 (or under 25 if they are students), and dependent relatives can be included in the application, though additional costs may apply.

Kredium Assistance With Obtaining the Panama Golden Visa

In conclusion, at Kredium, we are committed to providing you with top-notch mortgage broker services tailored to your individual needs and the best properties in Panama. From thoroughly understanding your financial goals to connecting you with the best brokers and ensuring a seamless process, we are here to make your mortgage journey and real estate purchase as smooth and efficient as possible. Start your qualification with Kredium and experience expert support every step of the way.

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