Want To Move To Panama With A Golden Visa? Here’s How

The Panama golden visa – officially known as the Panama Residence by Investment programme – allows investors to gain residency in Panama in exchange for an investment.

With a tropical climate, a reasonable cost of living and good healthcare systems, it’s no surprise that it’s an attractive option for those looking to explore a life in Central America.

But how do you get it? And what benefits does it have?

Let’s explore…

 

What Is Panama’s Golden Visa?

 

Panama’s golden visa allows investors and high-net-worth individuals to get permanent residency in exchange for investing in the Panamanian economy.

The visa has a lot of benefits, including the ability to include family (spouses, parents and children) in the application, no tax on foreign income and access to North, Central and South America.

Another big benefit of the visa is that applicants only need to visit Panama once every 2 years to maintain it, making it easy to uphold.

However, like with all golden visas, the Panamanian one comes at a price. Here’s how much…

 

What Investment Options Exist For The Golden Visa?

 

Unlike many other golden visa programmes, Panama offers a range of options for those looking to reside there.

It’s worth noting that all of the investment options below need to be held for a minimum of 5 years, which is the length of the visa offered.

They include:

 

The Qualified Investor Route

To be a ‘qualified investor’ you can invest in one of the following:

Property: Minimum $300,000 (increasing to $500,000 after October 2024).

Stocks: $500,000 in Panamanian stocks..

Bank deposit: $750,000 in a Panamanian bank for at least five years.

 

 

2. Forestry Investor Route

Alternatively, investors can invest in some of Panama’s sustainability projects in exchange for residency, these include:

$80,000 investment in an approved reforestation project (only grants 5 year residency, no more)

$100,000 investment for temporary residency with the option for permanent residency after two years.

$350,000 investment for permanent residency for the main applicant and dependents.

 

3. Friendly Nations Visa Route

The third option is only open to citizens of “friendly nations” (e.g., USA, UK, EU countries).

Here, applicants need to make a $200,000 real estate investment or a deposit in a Panamanian bank of the same amount.

 

What Is The Application Process Like?

 

Panama’s golden visa process is generally quite straightforward, and usually takes between 1-8 months.

When it comes to the cost, aside from the minimum investment, applicants will also need to pay government fees that amount to $5,000 for themselves and $1,000 for each dependent. Not to mention other fees for consultants like lawyers, visa consultants and the translation of official documents into Spanish.

Aside from a valid passport, applicants will also need:

• A clean criminal record.
• Health certificates.
• Proof of relation for each dependent.
• Proof of investment.

Once the visa has been approved, the applicant must travel to Panama within 6  months, where their fingerprint and photo ID is processed, before they can have their resident card.

 

What About Citizenship?

 

After 5 years of residency, applicants can apply to become citizens. To get this, they will need to show that they can speak Spanish to an approved level, maintain a clean criminal record and prove economic or personal ties to Panama (ie. business, family, property etc.)

However, it is worth noting that Panama does not usually allow citizens to have dual citizenship – so applicants will have to give up their other passports to obtain it.

 

Is Panama’s Golden Visa Worth It?

 

For those looking to settle in the heart of The Americas, Panama’s golden visa is a great choice.

With a number of different investment choices, a relatively easy process and the ability to add dependents, it certainly is an appealing choice. Not to mention Panama’s tax policies, which mean no income tax on foreign earnings.

So, if you are planning to move to Panama, why not try their golden visa? Buena suerte!