Five ways to obtain visa + residency in Panama.
Five Keys through Panamanian Doors
While Panama seems to be a very attractive place to move to, it is pertinent to know more information with respect to the requirements and possible ways to earn residency.
There are five ways to obtain residency in Panama.
These ways are specially designed to cater to different profiles of applicants who wish to enter the country for varying purposes.
For retirees, Pensionado Visa, otherwise known as the Retirement Visa, is the best way to obtain residence in Panama. It is the easiest kind of visa to acquire, thereby making it the most commonly applied for. This is the best choice available for retirees who wish to retreat and seek relocation in a very relaxing ambience.
The Pensionado Visa is designed for those who are already receiving pension in their country. They are granted the chance to be residents of Panama for minimum requirements.
To qualify for this visa, applicants must earn at least $1000.00 a month, reducible, however, to $750.00 in the event that an applicant already has acquired a property in Panama that exceeds $100, 000.00 in value.
Dependents of any applicant can also be granted residence for as long as the applicant can present an additional of $250.00 per head in the income statement.
For people with stable and sufficient income, the second most common type of visa that people apply for is the best. This is called the Visa de solvencia económica propia, or the Person of Means Visa. This visa deems to be the most plausible and useful for businessmen who wish to venture into expansion in a country of flourishing economy.
This kind of visa caters to people who wish to move to Panama as a refuge or retreat and expand their businesses, at the same time.
The Person of Means Visa is best for people with enough resources from personal business ventures to finance and support their stay in Panama.
For as long as applicants can show proof of $300, 000.00 worth of assets in Panama property or cash via a local bank statement, they are eligible for the Person of Means Visa. A combination of the two proofs is also accepted.
For applicants who wish to be accompanied by dependents, an additional of $2500.00 per dependent is required.
For people who have been previously self-employed and are not receiving pension, they can apply for another kind of visa in seeking residence in Panama, the Private Income Retiree Visa. This visa is the choice for businessmen who have decided to let go of the bulk of the enterprise management and seek a haven to enjoy fruits of long years of labor.
This is the kind of visa for people who have retired from self-employment. The only requirement is a bank statement from the National Bank of Panama that states a $2000.00 earning from deposit interests per month.
The benefits of the bearer of the Private Income Retiree Visa are the same with those of the Pensionado Visa holder. The queue is just endless.
For people who wish to combine business and pleasure, a way by which they can enjoy residence in Panama is by applying for a Panama Business Investor Visa. People who seek a new working environment conducive for a thriving business may find this kind of visa the best choice. This visa can be acquired by investing in a business in Panama. The minimum requirement is a bank certificate for US$160, 000.00
For environmentalists, they can enter Panama by way of a Forestry Investor Visa. This visa is for people who wish to contribute in the country’s mission to improve and rehabilitate the forest areas.
In support of the goal to rehabilitate forest areas, the country can grant a visa to anyone who purchases a reforestation property. The applicant is also required to show a bank certificate worth at least US$80, 000.00
These five ways to enter Panama may just be your key to enjoying the different perks that the country can offer. Among which are the growing annual GDP, lower cost of living, wide range of cultural and recreation amenities, strong economy, eyeful environment, relative freedom, accessible health services, impressive infrastructure, ensured safety and the great climate.
Contact us and be an addition to over 100 Americans, Canadians and Europeans that have obtained – and are enjoying – their residency in Panama. It is our honor to offer you any kind of assistance.
