WITH ITS WIDESPREAD REPUTATION AS A SOUGHT-AFTER BANKING CENTER AND TAX HAVEN, PANAMA ALSO FEATURES A LOW-COST PATHWAY TO RESIDENCY. THIS CENTRAL AMERICAN COUNTRY IS HOME TO 4 MILLION PEOPLE AND HAS BLOSSOMED INTO AN ENVIOUS PLACE TO CALL HOME WITH ITS FAMOUS CANAL AND CAPITAL, PANAMA CITY, WHICH FORMS THE COUNTRY’S COMMERCIAL AND FINANCIAL HUB. WHILE WEALTHY INVESTORS HAVE TARGETED THIS COUNTRY TO CIRCUMVENT TAXES AND SANCTIONS, PANAMA HAS ALSO BECOME A PRIZED DESTINATION FOR RETIREES AND MIDDLE-CLASS INVESTORS.
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In as little as a few months, eligible immigrant investors can acquire permanent residency, after which a period of approximately 5 years is required to gain citizenship. Careful consideration is needed when reviewing the many options available to find the right fit for your particular needs should you be interested in this tropical country that offers an excellent standard of living, premium health care services, direct flights to all major cities and visa-free travel to 127 countries.
Among the six available immigrant investor options, one calls for a simple bank deposit, no investment, while another allows immigrant investors to acquire a travelling passport with very little wait time, but not citizenship. In short, the program offers the easiest pathway to a second residency.
First, it should be noted that Panama has an open-door immigration policy that offers a smooth, quick road to permanent residency. The easiest option is the Specific Countries Visa. Eligible applicants must be citizens of one of approximately 50 designated nations. After six to eight months, you are granted immediate and permanent residency.
The various pathways to citizenship include making a 300,000 USD real estate investment or three-year fixed-term deposit, working in the financial sector as a high-wage earner, starting a business, or simply retiring.
The option and the number of dependents will determine the financial requirements. The country’s Specific Countries Visa, which happens to be the most affordable and manageable worldwide, calls for a bank deposit of at least 5,000 USD and an investment in Panama. The reforestation or agriculture investor visa sets a minimum investment of 80,000 USD in government land. Another option establishes a minimum investment of 160,000 USD in a job-creating business. As for the costliest options, some set minimum investments at 300,000 USD.
As mentioned, Panama is also appealing to retirees. Not only must retirees be self-sufficient, they are also required to make bank deposits that yield monthly returns of 850 USD, renewable every five years. Or, another option is to show a guaranteed monthly income from a pension or annuities of 1,000 USD.
Although visa applications must be performed with an attorney, the process is generally cost-effective. However, government fees vary from one option to the next.
Once you show that your financial situation renders you eligible for a visa, and that you have the means to support your family, the coast is pretty much clear. In Panama, there are no requirements pertaining to residency, education, professional or business experience, or real estate purchases. You and your family will, however, have to provide a medical certificate as a proof of health as well as a certificate proving you have no criminal record.
Immigrant investor programs are sprouting up all around the world in the hopes of attracting foreign investors. Quantity does not, however, translate into quality. That said, keen expertise that is in tune with global changes and trends is an extremely valuable and crucial asset when engaging in such complex endeavours and when assessing the plethora of available options. Our immigrant investor programs simplify matters to enable you to make well-informed choices that are right for you, according to your specific needs and aspirations.