Immigration & Visas

The Panamanian government has created several laws which, depending on the particular type of visa applied for, enable foreigners to obtain temporary or permanent residency, work permits, and in some cases citizenship and/or passports of 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.

There are several types of Visa available, the most common ones being:

Pensionado Visa (or Retired Visa)
Reforestation Visa
Small Business Investor Visa
Self Economic Solvency Visa

Visa Pensionado (Retired or Pensioned Program)

This program allows foreigners to obtain legal residency in Panama under the condition that they are retired or have a pension. According to the Immigration Department of Panama, the minimum age required to qualify is 18. The applicants' income must be proved by providing documentation such as a letter from the government or company that is issuing the pension, and it must be apostiled by the Panamanian Consulate in the country where the documents are issued. The applicants' retirement income (or pension income) must be at least US$1000 per month and the documentation must stipulate that it is for LIFE. For each dependent, the retirement income (or pension income) amount must be increased by US$250.

Procedures for Applying for Residency:

1. Provide all required documents as listed below:
   1. Original passport (expiry date must be more than 6 months from date of application) and photocopy of the complete valid passport of the applicant (and dependents - if applicable), including the picture page (that shows the picture, name, date of birth, passport number, place of issue, etc.), and all other pages (all pages of the passport). This should be provided after the Passport Registration is registered at the Immigration Office in Panama.
   2. Eight (8) passport sized photographs of the applicant (and dependents - if applicable).
   3. Certificate of Good Health, issued by a licensed Panamanian hospital or clinic, signed by a registered, licensed physician, indicating that the applicant (and dependents - if applicable) has no contagious diseases and is in good mental and physical condition. THIS MUST BE DONE DURING YOUR INITIAL VISIT TO PANAMA.
   4. If Pension is from a Government Institution or Social Security, the client must provide certification from the respective Government institution that pays the applicants retirement or pension income, certifying that the person receives a "pension" in the amount of at least US$1000 per month for LIFE (plus US$250 for each dependent that you wish to add if applicable). This document must be 'original' and must be apostiled.
   5. If the pension is from a Private Corporation, then you must also provide a Certification from the appropriate Government authority that certifies that the Corporation pays the pension, is in good standing and duly registered. This document must be 'original’ and apostiled.
   6. Police record from the country of your last 5 years of residency. This document must be 'original' and apostiled.
   7. Marriage Certificate (for the spouse - if applicable), and/or Birth Certificate (for children under 18 years of age - if applicable). This document must be 'original' and apostiled.
2. We will prepare the complete package of documents necessary for production to the Immigration Department, and have them ready to be presented.
3. A short visit to Panama is required for your Passport Registration at the Immigration Office. You will also sign the Special Power of Attorney for our law firm to handle your immigration paperwork and to start the processing of the Pensioned Visa. Please, don't wear shorts, t-shirts, or sandals during your visit to the immigration office.
4. Our lawyer will then submit your application for your Pensionado Visa.
5. If you do not intend to stay in Panama, a second short visit will be necessary, in order for you to personally have your official picture taken at the Immigration office where you will then be provided with the Permanent Resident Card.

Summary in English of Benefits and Discounts of this Visa

Article 1. To receive these benefits, the law states the following:

1. The age at 55 for women and 60 for men for all residents of Panama be they Panamanian or of different nationalities.
2. It states that all Jubilados and Pensionados (Irregardless of Age) are so entitled to the following benefits:
   1. Discount of 50% off price charged for entrance to recreation and entertainment activities, such as movies, theaters, sports and other public productions. This discount is not applicable for those events marked as benefits for the youth, homeless or those specially authorized by the competent authorities.
   2. Discounts for the following means of public transportation:
      1. Inter-Urban buses; 30%
      2. Trains, 30%
      3. Launches and boats, 30%
      4. 25% discount on air fares on public, private national and foreign Airlines
   3. A minimum discount of the regular prices of hotels and motels.
      1. 50% from Monday to Thursday
      2. 30% on Friday, Saturday and Sunday
   4. 25% discount of food consumed by the individual in all restaurants except for the Fondas, which do not require license to operate
   5. 15% discount in fast food restaurants
   6. 15% discount in the total cost for services of hospitals and private clinics
   7. Discounts in the following medical services:
      1. 20% in consultation fees of general medicine doctors and medical and surgical specialists.
      2. 15% for dental services.
      3. 15% for optometry
   8. Insurance companies that include in their policies health benefits for illness shall adjust their fees to include the necessary adjustment so that the benefits of these discounts are transferred in the payment of the premiums when the insured is 55 years old if female, and 60 years old if male, as well as to the Pensionados & Jubilados.
   9. 20% discount for technical and professional services.
   10. 20% discount for all prosthetic devices as well as items and accessories of personal assistance.
   11. 50% discount in cost of passports.
   12. 25% discount in monthly electrical consumption of private or public of private or public entity up to 600KW's and the normal tariffs will be applied to anything about that amount.
   13. 25% discount to the basic phone service charges when the phone service is in the name of the individual and is for a residential phone
   14. 25% discount in the water bill providing the consumption does not exceed $30.00 and the bill is in your personal name. It also has to be the prime residence and will only apply to this one home.

Reforestation Visa

Panama has two very attractive programs that allow Forestry Investors apply for legal residency/ immigrant status in the Republic of Panama. It does not matter which of these two programs you decide to use, they both give the Forestry Investor the right to apply for citizenship after 5 years from initial application. The applicant does not actually need to live in Panama; however, they do need to present themselves to immigration authorities in Panama. Small Business Investor Program

For both the Small Forestry Investor and the Large Forestry Investor, the following general rules apply:

• All Visa applications must be handled through a Panama Lawyer.
• All overseas documentation presented to the authorities in Panama must be authenticated by the Panama Consulate nearest you and Apostiled.
• All applicants, regardless of the type of visa that you choose, must present a Police Record, or if it sounds better, a Police Clearance Report. This document is not complicated and can be obtained easily through your Local County Sheriff Department. It must be presented on a letterhead of the Police Department. The letter should also be duly signed by an official from that institution. The document does not need to be finger printed but should be apostiled.
• All documents must be issued no more than 4 months prior to visa application.
• Passports must have at least 6 months validity.
• In both cases dependents can be included in the program. That is, the applicant’s children who are under 18 and one spouse. Children between the ages of 18 and 25 years of age that are studying, single and childless can also be considered dependents. In any case, a marriage certificate must be produced for your spouse and a birth certificate for your children.

Self Economic Solvency Visa

Law N° 16, of June 30, 1960 created this program to offer international investors the opportunity to obtain legal residency, citizenship (and passport) in Panama through certain investments in the Republic of Panama. Please note that the law was recently modified with new requirements.

Currently, the Self-Economic Solvency Visa offers three (3) different investment options to qualify for residency status in the Republic of Panama;

Option # 1:

Invest a minimum of US$300,000 (three hundred thousand US Dollars) in a two (2) year time deposit (or "certificate of deposit" or "CD") at any licensed bank in Panama.

Option # 2:

Invest a minimum of US$300,000 (three hundred thousand US Dollars) in a titled real estate property in the Republic of Panama. The property must be held in the personal name of the owner (not a corporation) and it must be held without mortgage for a minimum of 2 years.

Option # 3:

Invest a minimum of US$120,000 (one hundred and twenty thousand US Dollars) in a two year time deposit or CD at any licensed bank in Panama, PLUS invest a minimum of US$180,000 (one hundred and eighty thousand US Dollars) in a titled real estate property in the Republic of Panama.

The time deposit or CD account in all the above options must be in the personal name of the applicant (it may not be in the name of a corporation, foundation, or trust). The interest earned on the deposited funds, will be deposited monthly into any savings account at the bank that you designate (the savings account may be a personal account, or a corporate account). The income derived from the interest is NOT taxed by the Panamanian Government, nor is it subject to any tax reporting requirements. In options #2 and #3 the titled real estate property must be in the personal name of the applicant (it may not be in the name of a corporation, foundation, or trust). The primary applicant must also prove that he or she has an income to support his or her general costs of living.

For each additional dependent that applies for residency under the applicant, the primary applicant must prove that he or she has enough income to support the general costs of living of each dependent.

Procedures for Applying for Residency:

1. Provide all documents required, and sign the Special Power of Attorney for our lawyer to handle your immigration paperwork.
2. The bank account is opened, and you make the time deposit. The bank then provides a certificate of deposit, and a copy of the time deposit contract.
3. Our lawyer submits your application for a 1 year Temporary Immigrant Visa, under the Self Economic Solvency Program. You are issued a Temporary Immigrant Card, which is valid for 3 months (those 3 months are used by the Immigration Department to process the 1 year Temporary Immigrant Visa). After 3 months, you will be issued a new Temporary Immigrant Card that is valid for 1 year.
4. After the 1 year Temporary Immigrant Visa expires, our lawyer will submit a new application for your Permanent Residency Visa. You will then be provided with a Panamanian Cedula (Permanent Resident Card).
5. After 5 years of having Permanent Residency status, you may apply for Panamanian Citizenship, and a Panamanian Passport. This is called becoming "Naturalized", and requires that you accept the laws of the Republic of Panama under oath. Panamanian passports are renewable every 5 years.

If you are going to invest in the option that includes the purchase of real estate, then the property will have to be purchased and registered prior to the application being presented at the Immigration Offices. It is not necessary for applicants to reside in Panama to qualify for or maintain Panamanian residency or citizenship. However, a short visit to Panama is required for the processing of the Temporary Immigrant Visa, the Permanent Resident Visa, and for the Naturalization (Citizenship and passport).

Fees:

• For Primary Applicant:
  Stage 1:
  Legal Fee - 1 year Temporary Immigrant Visa: US$2000
  Government Fees and Costs: US$800
  
  Stage 2:
  Legal Fee - Permanent Residency Visa: US$2000
  Government Fees and Costs: US$300
  
  Stage 3:
  Legal Fee - Naturalization (Citizen / Passport): US$4000
  Government Fees and Costs: US$1500
   
• For Dependents (spouse or children under 18 yrs):
  Stage 1:
  Legal Fee - 1 year Temporary Immigrant Visa: US$1500
  Government Fees and Costs: US$800
  
  Stage 2:
  Legal Fee - Permanent Residency Visa: US$1500
  Government Fees and Costs: US$300
  
  Stage 3:
  Legal Fee - Naturalization (Citizen / Passport): US$3000
  Government Fees and Costs: US$1500

Required Documents (for Immigration processing):

1. Photocopy of every page of the valid passport of the applicant (and dependents - if applicable).
2. Police record of the applicant, from the place of residence of the last 5 years (spouse & dependents also that are over 18 years of age - if applicable). This must be apostiled in the country of issue at the Panamanian Consulate.
3. Marriage Certificate for the applicant. This must be apostiled in the country of issue at the Panamanian Consulate.
4. Birth Certificate (for the dependents only). This must be apostiled in the country of issue at the Panamanian Consulate.
5. Eight (8) passport sized photographs of the applicant (and dependents - if applicable).
6. Certificate of Good Health, issued by a licensed Panamanian hospital or clinic, signed by a registered, licensed physician, indicating that the applicant (and dependents - if applicable) has no contagious diseases and is in good mental and physical condition. This can be organized with one of our recommended doctors.

We will then process the necessary forms and documents, as below, for your signature and presentation to the Immigration Office.

1. Special Power of Attorney, signed by the applicant (and dependents - if applicable), authorizing our law firm to process the immigration applications and documentation.
2. Letter of Responsibility, signed by the applicant, whereby the applicant takes responsibility for his/her dependents.
3. Immigration Applications and Affidavit completed and signed by the applicant (and each dependent).

Required Documents (for opening bank account / CD):

1. Valid passport of the applicant (and dependents - if applicable),
2. Two Original letters of reference from a banking or financial institution that you have been doing business with for a number of years. They should be on the financial institutions letterhead, signed by a representative of the financial institution, and show the contact information (address, tel, fax, email, etc.) for the reference to be verified.
3. Two Original letters of reference from a commercial entity that you have had a business relationship with. This can be from any company or professional (a company, attorney, accountant, etc.). It has to be on the company or professionals letterhead, signed by a representative of the company (or the professional), and show the contact information (address, tel, fax, email, etc.) for the reference to be verified.

Multiple Entry & Exit Visa (Optional):

The Multiple Entry & Exit Visa should be applied for after or at the same time that any type of visa is applied for. The Multiple Entry & Exit Visa allows you to enter and exit the country as many times as necessary. If your stay is longer than 90 days at any one time, you will need to have the Multiple Entry Visa to leave the country without being questioned why you have overstayed.

* All visa applications in Panama require you to apply for a health certificate in Panama. We can arrange a visit to one of our recommended doctors during your stay.