PANAMA PERMANENT RESIDENCY PERMITS
The Republic of Panama has more than than 200 years of migration history, from its independence from Spain on november 28, 1821, to its separation from Colombia on november 3 of 1903 the country was founded and relies on different etnies groups. Due to the construction of Panama railroad on 1850, and the construction of the Panama Canal on 1904 thousands of persons arrived to the country from countries as Colombia, Spain (most of them from Galicia), Italy, France, Jamaica, China, Greece, Barbados, and others.
For decades the country has legislated to approved and up date inmigration laws, understanding that capital inflows are important for the economy.
*Besides others categories of permits, the most popular permanent residency permits for foreign European citizens are:
For decades the country has legislated to approved and up date inmigration laws, understanding that capital inflows are important for the economy.
*Besides others categories of permits, the most popular permanent residency permits for foreign European citizens are:
1. PANAMA FRIENDLY NATIONS VISA
The Panama Friendly Nations Visa is a special immigration program designed for citizens of selected countries who have friendly, professional, economic relations in the Republic of Panama looking to exercise professional, economic or investment activities been eligible to apply for permanent residency, and have the right to obtain Panamanian ID (Cédula) and request a work permit indefinitely as long as they meet the requirements, mainly based on;
a. For employment reasons: 1. Letter of employment on company letterhead, signed by the company's legal representative, stating the employee's position, salary, and repatriation. (Notarized). 2. Certificate of Incorporation from the Public Registry of Panama for the employing company. 3. Copy of the company's Business License; if unavailable, the employer must provide justification as established by Law 5 of 2007 (Notarized). 4. Copy of the power of attorney and permit application submitted to MITRADEL, signed by the legal representative and the applicant.
b. For investment purposes in real estate: 1. Certificate from the Public Registry of Panama proving ownership of the real estate, in the personal name of the applicant, of a legal entity in which the applicant is the ultimate beneficial owner of the shares, or founder and ultimate beneficial owner of a private interest foundation with a minimum value of 200,000.00 (two hundred thousand). The acquisition of the real estate may be financed through a local bank.
c. For fixed-term deposit purposes: 1. Certificate from a bank with a general license operating in the national territory stating the existence of a fixed-term deposit in the amount of 200,000.00 (two hundred thousand) that is free of encumbrances and valid for 3 years. This investment may be made personally by the applicant, by a legal entity in which the applicant is the natural person who is the ultimate beneficiary of the shares, contributions, or equity interests of the company; or as the founder and ultimate beneficiary of a private interest foundation.
Before obtaining the permanent residency, applicants will receive a provisional residency valid for two (2) years. After that time and proving that they have maintained the requirements, applicants will be eligible to request permanent residency.
The Panama Friendly Nations Visa application includes one main applicant and optional dependents, such as a spouse, parents, and children up to 25 years old.
a. For employment reasons: 1. Letter of employment on company letterhead, signed by the company's legal representative, stating the employee's position, salary, and repatriation. (Notarized). 2. Certificate of Incorporation from the Public Registry of Panama for the employing company. 3. Copy of the company's Business License; if unavailable, the employer must provide justification as established by Law 5 of 2007 (Notarized). 4. Copy of the power of attorney and permit application submitted to MITRADEL, signed by the legal representative and the applicant.
b. For investment purposes in real estate: 1. Certificate from the Public Registry of Panama proving ownership of the real estate, in the personal name of the applicant, of a legal entity in which the applicant is the ultimate beneficial owner of the shares, or founder and ultimate beneficial owner of a private interest foundation with a minimum value of 200,000.00 (two hundred thousand). The acquisition of the real estate may be financed through a local bank.
c. For fixed-term deposit purposes: 1. Certificate from a bank with a general license operating in the national territory stating the existence of a fixed-term deposit in the amount of 200,000.00 (two hundred thousand) that is free of encumbrances and valid for 3 years. This investment may be made personally by the applicant, by a legal entity in which the applicant is the natural person who is the ultimate beneficiary of the shares, contributions, or equity interests of the company; or as the founder and ultimate beneficiary of a private interest foundation.
Before obtaining the permanent residency, applicants will receive a provisional residency valid for two (2) years. After that time and proving that they have maintained the requirements, applicants will be eligible to request permanent residency.
The Panama Friendly Nations Visa application includes one main applicant and optional dependents, such as a spouse, parents, and children up to 25 years old.
2. FRIENDLY TREATY, COMMERCE AND NAVIGATION BETWEEN THE REPUBLIC OF PANAMA AND THE REPUBLIC OF ITALY
Grant permission exclusively to foreigners of Italian nationality who wish to establish their residence indefinitely in our country. This Permit is indefinite so it will not require an extension.
The Italian citizen must demonstrate that purpose for establishing his residence are based on economic (setting up a Panamanian company) or professional (labor contract) activities to be carried out in the country, also must proof that the resident has sufficient financial solvency (bank account with at least five middle figures) or another that demonstrates your income is acceptable to the National Immigration Service.
The Italy-Panama Visa application also includes one main applicant and optional dependents, such as a spouse, parents, and children up to 25 years old.
*Panama has more than 70 inmigration permits
