Changes in the Visa of Friendly Countries of Panama
The new decree indicates that you can opt for a provisional residence with a real estate investment of B/.200,000.00 or a fixed-term account for the same amount.
These changes seek to incorporate new investment modalities that promote the generation of economic income for the country.
Through Executive Decree No. 226 of July 20, 2021, articles that regulate the Permanent Resident Permit as Foreign Nationals of Countries Friends of Panama are modified and added.
Three reasons are determined to request the Provisional Resident permit for two years: work, investment in a property and fixed-term deposit.
- Work reasons: you must submit a work letter, duly signed by the legal representative of the company, certifying position, salary and commitment to be responsible for repatriation expenses. In addition, the certificate of the Public Registry of Panama of the employer company and the notice of operation must be consigned.
- Investments in real estate: the applicant must present a certificate from the Public Registry of Panama stating that he is the owner of real estate, with a minimum value of USD $200,000.00. This property can be financed through a bank in Panama.
- Fixed-term deposit: the applicant must present the certification of a Panamanian bank stating the existence of the deposit, its owner, the value, the term and that it is free of liens, with a minimum validity of three years per a value not less than B/.200,000.00.
In addition, Decree 226 establishes that foreigners from Peru can opt for a Provisional Residence within the subcategory of Permanent Resident.
Likewise, foreigners from the countries that may opt for this permit indicated in the previous decree are maintained.
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