Panama Real Estate Investment Visa and Time Deposit Visa:

The foreigners who have independent means of support, and:

a) Have a three-year fixed-term deposit in any bank located in Panama with a minimum of USD 300,000; or

b) Invest in real estate worth USD 300,000 in Panama (must be fully paid up and titled in the name of the applicant o under a Private Interest Foundation, where the applicant is founder and beneficiaries are the founder and/or his dependents) or

c) Have a combination of the above for a minimum of USD 300,000.

If the foreigner has dependents, the applicant needs to invest an additional Two Thousand US Dollars (US$2,000) for each dependant.

The following documents must be submitted if the investment is total in Real Estate, besides the general applicant requirements:

a) Certificate from Panama's Public Registry verifying personal title of the applicant with a minimum value of Three Hundred Thousand Dollars (US$300,000), free of debt or liens.

In case the title of the property is under the name of a Panama Private Interest Foundation, the certificate of the Public Registry must designate the applicant as either the Founder or Beneficiary.

If the applicant has paid the minimum required cash sum of USD 300,000 towards the total price of the Panama real estate, he or she will be able to finance the remainder through mortgage loans.

If the applicant has a USD 300,000 Time Deposit must submit to immigration:

a) Panama bank certification that the foreigner opened a Panamanian bank time deposit account in the applicant's name for three (3) years for a minimum value of USD 300,000, or its equivalent in foreign currency;

b). Copies of the time deposit certificate authenticated by the Panamanian bank.

If the investment is a combination of real estate and time deposit, all the documents mentioned above must be presented to the Immigration Office.

Be aware that this visa will grant you a provisional two years residence. A month before this visa expires, you shall submit the same paperwork to apply for permanent residency.

Process to apply for a Panama Real Estate Investment Visa once you have invested.

Panama Provisional Residency Steps:

1. Provide to our office all required documents, and sign the Special Power of Attorney for our lawyer to handle your Panama immigration paperwork. If you have not invested yet, we can assist you with that, either in the Panama Real Estate Purchasing Process or in setting the time deposit. For more information, please read our article about what to ask when buying properties and opening a Panama Bank Account for non-residents (https://www.kerycruz.com/en/news/bank-account-for-non-resident-foreigners).

2. Register passport at Panama Immigration office. Once the passport is registered, we have 14 days to submit the documents for the provisional residency.

3. Present application with all required documents to Panama immigration, with Government fees & Repatriation Deposit (if applicable).

4. Obtain the process cards, which is valid for six months. Panama Immigration Office usually takes between three to six months to process a residency. If the card expires, you will need to renew it. Due to coronavirus, the processing time could be longer because of the delay in reviewing previous visas applications.

5. Apply for Multiple Entry-Exit Visa valid for six months. You cannot travel without this visa; if so, a USD 2000 fine will be applied.

6. If your visa is approved, the Panama immigration department will grant the applicant a 2-year Temporary Residency Permit.

Permanent Residency:

You have to go to all the steps mentioned above for processing a provisional residency. Once approved, you will obtain a Panamanian Permanent Residency, with the option to apply for Panamanian Naturalization.

Naturalization:

After five years of Permanent Resident status, the applicant may apply for Panama citizenship through the Naturalization process. You can review the process in the https://www.kerycruz.com/en/panama-naturalizations

Once a citizen, then a Panama passport may be obtained.

Applicants don't need to reside in Panama to qualify for or maintain Panamanian residency or Panama citizenship. A visit to Panama is required for processing the Panama Temporary Immigrant Visa, the Permanent Resident Visa, and the Naturalization (Panama citizenship and Panama passport). Also, yearly visits are advisable to keep your residency. If you reside outside Panama for more than two years, any residency you have will be lost.

Any change in your passport or domicile needs to be notified to immigration; if not, a fine will be imposed. Visit https://www.kerycruz.com/es/noticias/multas-migratorias-en-panama for information about Panama Immigration Fines.

Please notes that you are from any nations cataloged a friendly nation by the Panamanian Government; you can apply through the Friendly Nations Visa Program. The Panama Friendly Country Visa can be more affordable, and the processing time is shortened. For more information about Friendly Nations Visa visit https://www.kerycruz.com/en/news/visa-requirements