Advantages of Permanent Residence in Panama
Permanent Residence in Panama.
Although it is true that there are several types of permits and categories for foreigners from certain nationalities, including the Spanish, there is a special type of permit called: Permanent Residence Permit for Friendly Countries.
The Permanent Residence Permit for Friendly Countries does not require a minimum time of stay in Panama.
That is, it differs from other countries that require the applicant to have their main home in the country where permanent residence is requested.
Panama does not require a specific time of permanence in the country to be able to access this Permit, it is more if everything is well organized, you can travel two weeks to Panama and request your Permanent Residence Permit under this category.
We are going to see a brief summary of the details about the requirements that the Panamanian State asks of the applicant, here is below:
- Recent Criminal Record Certificate from the applicant’s country of origin, which must be apostilled.
- Have a personal bank account in a Panamanian bank.
- Be a shareholder and hold an administrative position in a Panamanian company or have a job offer of a company in Panama.
- Visit Panama twice:
- The first time is to open the bank account and submit the application to the National Immigration Service, a procedure that is carried out through your lawyer.
- The second visit is to finalize the process with the immigration authorities and become a Permanent Resident.
As you can see, permanent residence in Panama is very accessible and does not require complicated requirements.
And one very important aspect: it is granted once and there is no need to renew it.
Once permanent residence in Panama has been obtained, you are enabled to apply for Tax Residence which can be acquired not only with a stay of more than 183 days in Panamanian territory, but is also possible if it is demonstrated that Panama has the center of work and life.
If you are interested in knowing more, at ba-lawfirm.com, we have Panamanian lawyers specialized in Migration Services, who have solutions to your requirements.
If you need advice on migration services, contact us at ba-lawfirm.com or through our email consultas@ba-lawfirm.com, we are ready to help you.
