residence permit as an investor in panama

The regulations establish that any foreigner who invests the minimum amount of B/.300,000.00 or the same amount in US dollars (USD) in fixed-term deposits and who demonstrates that the funds come from abroad can request this Permit.

This Permit will be for two (2) years; after this period, the applicant may opt for Permanent Residence. To include a dependent, you must add the investment of B/.2,000.00 for each dependent, which can be justified by a local bank reference.

This category within the investment is most within reach for investors. This type of Permit is because any foreigner who invests the minimum amount of B/.300,000.00 or the same amount in US dollars (USD) in real estate and demonstrates that the funds come from abroad can request this Permit.

This Permit will be for two (2) years; after this period, the applicant may opt for Permanent Residence. To include a dependent, they must add the investment of B/.2,000.00 for each dependent, which can be justified by a local bank reference.

In this case, it is a mixed investment, that is, if a foreigner invests the minimum amount of B/.300,000.00 or the same amount in US dollars (USD) in real estate or fixed term; or a combination of both and demonstrates that the funds come from abroad, they will be able to access this type of Permit.

This Permit will be for two (2) years; after this period, the applicant may opt for Permanent Residence. To include a dependent, you must add the investment of B/.2,000.00 for each dependent, which can be justified by a local bank reference.

Citizens of the so-called Friendly Nations or Friendly Countries can request the investor visa where the amounts to contribute, either in real estate investment in Panama or in a fixed-term deposit, are less than those requested from citizens of other countries of the world.

The law establishes the following: "The National Immigration Service may grant a Provisional Residence Permit for a period of two (2) years to those persons who request the subcategory of Permanent Resident, as foreign nationals of specific countries that maintain friendly, professional, economic and investment relations in the Republic of Panama”. The law contemplates the following reasons related to the investment:

• For reasons of investment in real estate. In this case, the national or citizen of a Friendly Country can request the Provisional Residence Permit as long as they have a Panama Public Registry Certificate that attests that they own real estate (that is, that the visa applicant is the title holder), with a minimum value of B/.200,000.00 or the same amount in US dollars (USD). This operation can be financed by a local bank. As we can see, the investment amount for the citizens of Friendly Nations is B/. 100,000.00 or the same amount in US dollars (USD) lower than for the rest of the nationals who are not on the list of Friendly Nations or Countries.

• For reasons of Fixed Term Deposit. . Subsequently, the Panamanian legislator included that any citizen of a Friendly Country who has a certification from a general license bank that operates in the national territory could opt for the investor visa stating the existence of the deposit, its owner, value, term and that it is free of encumbrances, with a minimum validity of three years and for a value of less than B/.200,000.00 or the same amount in US dollars (USD). It is relevant to mention that this investment in Panama can be made in a personal capacity by the applicant, by a legal person in which the applicant is the natural person who is the final beneficiary of the shares, contributions, or social quotas of the company, or the founder or final beneficiary of a Private Interest Foundation.

The price for the application for the Residence Permit as an investor comprises the following expenses: (notarial, registry, stamps, transactional, transportation, certificates, kinship certificate, SNM registration, etc., including processing card, residence card, and visa multiple) and legal fees.

In the case of an Investment visa there are different types:

Investor in Real Estate

The total cost amounts to US$ 1,763.00. Below we break down the cost:

Expenses:

The total cost of Expenses for applicants without dependents is US$ 413.00. Breakdown below:

• Expenses in the National Immigration Service:US$ 353.00 (three hundred fifty-three US dollars).
• Transactional expenses:US$ 60,00 (sixty US dollars).

Legal Fees:
The total cost of the applicant´s legal fees without a dependent is US$ 1,350.00 (one thousand three hundred and fifty US dollars), not ITBMs tax included.

The total cost does not include the payment of:

• Check payable directly to the National Treasury by the applicant and dependent: US$ 250.00 (two hundred and fifty US dollars).
• Check payable to the National Immigration Service per applicant and dependent: US$ 800.00 (eight hundred US dollars).

Macro Business Investor

The total cost amounts to US$ 2.013,00. Below we break down the cost:

Expenses:
The total cost of Expenses for applicants without dependents is US$ 413.00. Breakdown below:

• Expenses in the National Immigration Service: US$ 353.00 (three hundred fifty-three US dollars).
• Transactional expenses: US$ 60.00 (sixty US dollars).

Legal Fees:
The total cost of the applicant’s legal fees without a dependent is US$ 1,600.00 (one thousand six hundred US dollars). ITBMs tax is not included.

The total cost does not include the payment of:

• Check payable directly to the National Treasury by the applicant and dependent: US$ 250.00 (two hundred and fifty US dollars).
• Check payable to the National Immigration Service per applicant and dependent: US$ 800.00 (eight hundred US dollars).

Mixed investment

The total cost amounts to US$ 1,763.00. Below we break down the price:

Expenses:
The total cost of Expenses for applicants without dependents is US$ 413.00. Breakdown below:

• Expenses in the National Immigration Service: US$ 353.00 (three hundred fifty-three US dollars).
• Transactional expenses: US$ 60.00 (sixty US dollars).

Legal Fees:
The total cost of the applicant’s legal fees without a dependent is US$ 1,350.00 (one thousand three hundred and fifty US dollars). ITBMs tax is not included.

The total cost does not include the payment of:

• Check payable directly to the National Treasury by the applicant and dependent: US$ 250.00 (two hundred and fifty US dollars).
• Check payable to the National Immigration Service per applicant and dependent: US$ 800.00 (eight hundred US dollars).

Investment by opening a Fixed-Term Deposit

The total cost amounts to US$ 1,733.00. Below we break down the cost:

Gastos:
The total cost of Expenses for applicants without dependents is US$383.00. Breakdown below:

• Expenses in the National Immigration Service: US$ 323.00 (three hundred and twenty-three US dollars).
• Transactional expenses: US$ 60.00 (sixty US dollars).

Legal Fees:
The total cost of the applicant’s legal feeswithout a dependent is US$ 1,350.00 (one thousand three hundred and fifty US dollars). ITBMs tax is not included.

The total cost does not include the payment of:

• Check payable directly to the National Treasury by the applicant and dependent: US$ 250.00 (two hundred and fifty US dollars).
• Check payable to the National Immigration Service per applicant and dependent: US$ 800.00 (eight hundred US dollars).

The requirements to apply for the Visa for investors in Panama are the following:

1. Power of attorney and request (notarized and with their respective tax stamps)
2. Four (4) passport-size photographs of the applicant
3. Duly verified copy of the applicant's passport.
4. Apostilled Criminal Record Certificate of the applicant.
5. Health Certificate by a suitable doctor in the Republic of Panama.
6. Certified Check for US$ 250.00 in favor of the National Treasury; (the client can provide it, or we manage it – certification cost per check is US$ 10.70) – The holder must provide this check.
7. Certified check for B/.800.00 in favor of the National Immigration Service. (The client can provide it, or we manage it – certification cost per check is US$ 10.70) – The holder must provide this check.
8. Personal History Affidavit Form. It must be completed and signed by the applicant.
9. Documents to be provided depending on the type of investment:
   1. In the case of Investment in Real Estate, you must provide:
      • Certification from the Public Registry proving the ownership of the real estate under the name of applicant with a minimum value of B/. 300,000.00, the certification must indicate that the property is free of encumbrances.
   2. In the case of Opening a Fixed-Term Deposit, you must provide:
      • Bank certification that a fixed-term deposit account has been opened under the applicant's name, for B/.300,000.00 or its equivalent in foreign currency and with a minimum duration of three (3) years, in any general license bank in the national territory. This fixed term must be free of encumbrances.
      • Copy of the fixed-term certificate authenticated by the bank.
10. Two (2) Letters of responsibility.
11. In the case of dependents:
    1. Letter of responsibility
    2. Kinship certificate.
    3. Proof of address.
    4. Over 18 years of age, present a certificate of unmarried status and certified studies.

To apply for the Investor Visa in Panama, the application must be submitted through an attorney before the National Immigration Service of Panama (SNM). With the power to apply, the attorney must attach all the documentation requested by the regulations, including checks to the National Treasury and the SNM.

The amounts to invest for obtaining residence in Panama through investment depends on several factors. Among them, we can mention the following:

• If the foreigner is a national of a Friendly country the norm establishes that the applicant can apply for Provisional Residence for the following reasons:

For reasons of investment in real estate.The interested party must present a Certification from the Public Registry of Panama to prove that they own property or real estate in their name or in the name of a company of which they are the final beneficiary, provided that said real estate has a minimum value of US$ 200,000.00. 

For fixed-term deposit reasons. The interested party must present a Certification from a bank with a general license that operates in the national territory stating the existence of the term deposit of which he is the holder, with a minimum validity of three years for a value of no less than US$ 200,000.00.

• If the foreigner constitutes a macro company, the regulations establish the following:

Foreigner who wishes to invest in a company whose minimum share capital is B/. 160,000.00 per applicant, being these shareholders and dignitaries of the same company. This Permit will be for two (2) years; the applicant may opt for permanent residence after this period. To include a dependent, you must add the investment of B/. 2,000.00 for each dependent, which can be justified by local bank reference." 

• If the foreigner has no nationality within the Friendly Nations,they can invest US$ 300,000.00. The norm establishes:

“Foreigner who invests the minimum amount of B/. 300,000.00 in real estate and demonstrates that the funds come from abroad. This Permit will be for two (2) years; after this period the applicant may opt for permanent residence.

To include a dependent, you must add the investment of B/. 2,000.00 for each dependent, which can be justified by local bank reference." 

To invest in Panama there is no specific requirement. The only thing is that the foreigner who wants to buy real estate must have a valid identity document (passport).

To invest in Panama as a foreigner we recommend contacting a specialized company that knows the market and guides you properly. At Legal Solutions, we have the right partners to guide you through the process.

In addition to being a process that involves a series of legal procedures, we provide you with support services for the review of sales contracts and the corresponding property registration in the National Public Registry.