The Presidential Decree number 343, issued in 2012, created the figure of the Panama Friendly Nation Visa, which allows citizens of more than 45 friendly nations apply for residence in Panama in a faster and easier process. These visas are focused on foreign citizens of those countries that maintain friendly, professional, economic and investment relations with the Republic of Panama.
Countries that may specifically choose this type of visa
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Requirements for the Panama Countries Visa
One of the main requirements is to verify that the applicant maintains friendly, professional, economic and investment relations with the Republic of Panama, that there is a business activity or professional ties with a company that develops its economic activity within the country.
For the business activity, you must own a corporation, purchase a property or establish an investment. For professional ties, you must submit a letter of employment from a Panamanian company or society and other requirements that validate your employment relationship, such as a work permit.
Also, you must also present proof of your economic solvency where it is proven that the applicant has a bank account in Panama with a minimum balance of US$ 5000 and US$ 2000 for each dependent.
Who can be a dependent?
It can be the spouse or unmarried children under 25 years, for each dependent you must present a letter of responsibility.
At B&A Law we can advise you throughout the applying process for a Panama Friendly Nation Visa, contact us.
