Panamanian immigration legislation offers multiple choices to migrate and establish residency, either temporary or permanent within the Panamanian territory, for executives, professionals, businessmen or retired persons. The existing law stipulates a series of visas or residence permits with simple and accessible requirements that make attractive, to any person in the world, the possibility of establishing in Panama, being for work or commercial reasons, or simply to take advantage of our country.
Since August 26, 2008, Law Decree No. 3 of February 22, 2008 is in force, updating the migratory procedures and maintaining, as always, the same spirit of facilitating to foreign people immigration to our country. Some types of Visas granted by our the migratory legislation are:
Self Solvency Visa: main requirement is that the candidate holds a term deposit in the amount of US$ 200,000 (two hundred thousand US dollars) in a Panamanian banking institution, for a minimum period of two years, or a registered property (real estate) free of encumbrances or restrictions, with a value of US$ 200,000 (two hundred thousand US dollars). A combination of both alternatives is also allowed.
Visa for Investors in Micro and Macro Business: essential requirement is that the petitioner submits documentation (Income Tax Return, Articles of Incorporation, commercial invoices, etc.) evidencing that he/she is investing in Panama through the organization of a company in which Panamanian personnel has been hired. In the case of micro businesses, the investment should be between US$ 40,000 and US$150,000 (forty thousand US dollars and one hundred and fifty thousand US dollars), and for macro businesses, the investment should be over US$150,000 (one hundred and fifty thousand US dollars).
For foreign people who had a successful career and now only wish to enjoy a retirement in a country blessed with nature and a modern infrastructure and with a low cost of living in which their income allow them to enjoy a pleasant life. Our immigration laws includes the following migratory status:
Indefinite Residence Permit for Pensioned Tourists for those foreign people who have been pensioned by a Government or a private company with a minimum monthly for- life amount of US$500.
Visa for Retired People with Income from a fixed-term deposit for those foreign persons earning a minimum monthly amount of US$750, coming exclusively from interest on term deposits at Banco Nacional de Panama for a period of five years.
All aforementioned visas and permits are extendable to the immediate family (wife, children and parents) of the holder, for whom there should not be any problem when immigrating to Panama with all his/her family.
Our Firm has the capability of offering the complete processing of above listed visas or permits, and many others, with the best fees. You can contact us through our e-mail address or telephone numbers (507) 265-8285 or (507) 265-8294, and we will provide you with complete advisory services to assist you with the best type of visa to meet your needs, assisting you in the compilation of the necessary documentation and carrying out the permit process in a fast and effective manner.
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