Panama
Residency
The Panamanian
government has created several laws which enable foreigners to
obtain legal residency and citizenship / passports in the Republic
of Panama. Most of these laws have been created to promote foreign
investment in the country which benefits the local environment or
local economy of Panama.
Below we have listed several immigration program which offer
permanent residency leading to passports.
Second Passport Program offering Immediate Panamanian Passport:
Immediate Passport Program
This program allows foreigners to obtain immediate Panamanian
Passport under the condition that they make a 5 year time deposit
(certificate of deposit - "CD"), at the Banco Nacional de Panama,
which earns a minimum of US$750 per month in interest income.
More…
Second Passport Program which offer Permanent Residency and
eventual Passport through Naturalization:
Self Economic Solvency (Bank Deposit Program)
The applicant must invest a minimum of US$100,000 in a 1 year time
deposit at any licensed bank in Panama. For each additional
dependent that applies under the primary applicant, the time
deposit (CD) amount must be incremented by US$5000 (for each
dependent).
Reforestation Investment Program
The Panamanian government offers international investors the
opportunity to obtain legal residency and eventually a passport in
Panama through a US$50,000 investment in any approved
reforestation project. More…
Small Business Investor Program
This programme allows foreign business owners to obtain legal
residency in Panama under the condition that they invest a minimum
of US$40,000 in either a new business venture, or an established
company in Panama. Part of the requirement is that the business
must employ at least 3 Panamanian employees paying them at least
minimum wage, with social security benefits.
Tax Free Processing Zone Investor Program
This program allows foreign investors to obtain legal residency in
Panama under the condition that they must rent a plot of land or
an office or building (rented through a 10 to 20 year concession)
within one of the new tax free processing zones in Panama, for the
purpose of operating a business from Panama that exports its
products or services.
Retired or Pensioned Program
This program allows foreigners to obtain permanent legal residency
in Panama under the condition that they are retired or pensioned.
The applicant’s retirement income (or pension income) must be at
least US$500 per month. For each dependent, the retirement income
(or pension income) this amount must be increased by US$100.
Summary
Many international investors and companies find Panama to be an
excellent location for investing in reforestation, manufacturing
plants, assembly plants, distribution facilities for
import/export, e-commerce, call centers, and a variety of other
business activities. Many times, investors find that legal
residency qualification is just an "extra benefit" to the
investments that they are making in Panama.
Obtaining a second residency in Panama is useful for those who
wish to:
Have a second home overseas in a tropical country where they can
live at or visit.
Have a "safe haven" to
escape to in the event of war or any type of civil unrest that may
threaten their family.
Actually live in
Panama permanently, perhaps after retirement.
Relocate to a
tropical, stable, safe country where it is very economical to live
in comparison with most other developed countries such as the US,
Canada, Europe, etc.
Relocate to a more
"tax friendly" country where foreign earned income, capital gains,
and interest income is not taxed.
Relocate to a country
where frivolous lawsuits are not recognized by courts, and assets
can be truly protected through a corporate shield, without the
risks of "piercing the corporate veil".
Relocate to a country
where one can begin business operations economically, and without
heavy restrictions, regulations, or taxes that hinder the growth
of the business.
Relocate to a country
where real estate is still affordable for purchasing homes in the
city or land at the beaches, mountains, lakes, etc.
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