The most importants kind of Visas in Panama are the next:
1.- Immediate Passport Program: offering Immediate Panamanian Passport.
Foreigners can be obtain immediate Panamanian Passport under the condition that they make a 5 year time deposit (certificate of deposit – “CD”), at the Banco Nacional de Panama, which earns a minimum of US$750 per month in interest income. Since interest rates fluctuate, the minimum amount generated monthly must be $750. That means the original 5 year CD deposit with the Banco Nacional de Panama will vary depending on current interest rates. The monthly interest earned from the time deposit (CD), would be deposited directly into the applicants savings account, and the applicant can withdraw the funds in the savings account at any time.
2.- Self Economic Solvency Visa: offering Permanent Residency & Passport.
The Self-Economic Solvency Visa offers three different investment options to qualify for residency status in the Republic of Panama:
Investment Option 1: Invest a minimum of US$200,000 in a two year time deposit or “certificate of deposit” or “CD”, at any licensed bank in Panama.
Dependents: For each additional dependent that applies for residency under the primary applicant, the primary applicant must prove that he or she has enough income to support the general costs of living of each dependent.
Investment Option 2: Invest a minimum of US$200,000 in a titled property (real estate) in the Republic of Panama.
- Dependents: For each additional dependent that applies for residency under the primary applicant, the primary applicant must prove that he or she has enough income to support the general costs of living of each dependent.
Investment Option 3: Invest a minimum of US$120,000 in a two year time deposit or “certificate of deposit” or “CD”, at any licensed bank in Panama, plus invest a minimum of US$80,000 in a titled property (real estate) in the Republic of Panama.
3.- Small Business Investor Program: offering Permanent Residency & Passport.
The foreign business owners can be obtain legal residency in Panama under the condition that they invest a minimum of US$150,000 in either a new business venture, or an established company in Panama. Part of the requirement is that the business must employ at least 3 Panamanian employees paying them at least minimum wage, with social security benefits.
4.- Reforestation Visa: offering Permanent Residency & Passport.
Panama Reforestation Visa offer 2 options:
A. Small Business investment of at least $40,000;
B. Large Business investment of at least $80,000
5.- Retired or Pensioned Program: offering Permanent Residency only.
Foreigners can obtain legal residency in Panama under the condition that they are retired or pensioned. According to the Immigration Department of Panama, there is no minimum or maximum age required to qualify you only need to provide the below described requirements / documents.
The applicants retirement income (or pension income) must be at least a life time US$500 per month. For each dependent, the retirement income (or pension income) amount must be increased by US$100. For example, a husband with wife and one child, would need to prove a total pension income of US$700.
6.- Multiple Entry & Exit Visa (Optional)
The Residency Visas is for foreigners so they can establish residency and permanently reside within the territory of the Republic of Panama. Every Immigrant or Resident should have an Entry and Exit Visa if he or she plans to travel into and or out of the Republic of Panama.
An “Immigrant” is a foreigner or tourist that has applied for a resident Visa in the Republic of Panama. A “Resident” is a foreigner or tourist that has completed a resident Visa application program and has obtained a Permanent Resident Card in Panama.
The Multiple Entry & Exit Visa allows foreigners to enter and exit the Republic of Panama as many times as necessary during the validity of the Multiple Entry and Exit Visa, or until the expiration date of the Visa.
Time frame:
It takes approximately five (5) business days to process the Multiple Entry & Exit Visa at the Immigration office.