Through Decree Law No. 3 of 2008, Panama grants permanent residence to applicants who have sufficient income to cover the expenses of all their family's needs while living in the Republic of Panama.
To opt for this type of Visa, the applicant may choose one of the following alternatives:
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- Establish a time deposit in a bank located in Panama for the amount of US$300,000 (minimum) for a period of 36 months.
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- Buy in your own name, a condominium, house or property in Panama for the minimum sum of US$300,000 and prove the source and amount of the income with which you will cover your living expenses in Panama.
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- Buy in your own name or that of a foundation, a condominium, house or property in Panama, in addition to having three years of deposit in your name, in a bank located in Panama, for a combination of US$300,000, between the value of the property and the deposit.
Once the visa application is submitted, applicants are granted a provisional residence permit, valid for a period of two years. At the end of the two-year period, the applicant may apply for permanent residence. The permanent residence permit grants the applicant an additional permanent foreign resident identity card and the right to apply for Panamanian nationality after 5 years (which includes the initial 2 years of temporary residence).
Self-Sufficient Funds Program Highlights
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- This is perfect for applicants investing in real estate.
- Applicants may opt for Panamanian citizenship in the future
Citizens of Asia, the Middle East, and Africa, please note that the Panama Immigration Office may include your country on a Restricted Countries List subject to Special Requirements. For more information, please click here.
NegociosGrupo Panamá provides a convenient one-stop shop that offers the following services:
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- Real estate brokerage to find a house or apartment
- Constitution of companies, LLCs, trusts and foundations.
- Bank and business accounts
- Wealth management services
- Application for visas, work and residence permits for expatriates
- Relocation services
- Others
For more information, please contact us.
Customer Service
BusinessPanama Group
US and Canada Toll Free 1-888-800-8947
Local telephone +507-223-6788
Email - inquiries@businesspanama.com
www.BusinessPanama.com
