Panama | CitizenMatch

4,176,869

Population

$28,456

GDP (per capita)

125

Visa-Free Countries

$121.749 billion

GDP (purchasing power parity)

Panama’s dollar-based economy relies primarily on a well-developed service sector that accounts for more than three-quarters of its GDP. Services include operating the Panama Canal, logistics, banking, the Colon Free Trade Zone, insurance, container ports, flagship registry, tourism and Panama is a hub for offshore banking.

CAPITAL CITY 

Panama City

TIME ZONE

EST (UTC−5)

TOTAL AREA

75,417 km2

LANGUAGES

Spanish

CURRENCY

“Balboa (PAB) & USD $”

MAIN INDUSTRY 

Tourism, Agriculture

The citizenship by investment (CBI) programs available in Panama are a popular option for investors who are looking to obtain a second passport and the benefits that come with it, such as visa-free travel to over 180 countries, access to quality education and healthcare, and the ability to live and work in a safe and stable country.

Program Benefits

Months to Citizenship from

40,000

Min Investment Amount (US$)

Years to Citizenship

The petitioner receives a Temporary Residency for two (2) years and once this period has expired he may apply for his Permanent Residency. After completing five (5) years from the first Immigration Resolution, the petitioner may apply for Panamanian nationality (the process takes approximately 2-3 years).

There are many benefits to be realized from these programs.
Let’s take a look.

Panama is home to several opportunities. You can invest and start your own business or even pursue a career. The country thrives on its service economy. Other sectors such as transportation, finance, and tourism have begun to contribute as well.
Panama is officially considered as one of the best retirement locations in the world. You are eligible for a pensioner’s visa, which entitles you to many federal benefits.
Panama boasts a low cost of living with food, transportation, and utilities being much cheaper than in the US or Canada.
Panama is uniquely positioned geographically, being located close to the US and various other countries in the Caribbean and South America.
No upper age limit for applicants.
Inclusion of dependent family members.
No language proficiency requirement.
No specific investment or business obligations.
Access to Panama’s quality healthcare system.
Favorable tax policies, including income exemptions.
Strategic location for travel and business.
Economic stability and financial sector growth.
Diverse natural landscapes and urban areas.
Friendly and streamlined visa application process.

KEY ADVANTAGES

To qualify for the programs, you must:

Be 18 years old or above.
Submit all your applications via a Panamanian lawyer.
Authenticate all documents by a Notary and the Panamanian Consulate or, by a Notary and an Apostille. The second option is faster and can be done through the Foreign Office if you are in the UK, and the Secretary of State Office, if you are in the US. For other countries, check with the nearest Panamanian Embassy or Consulate.
Submit birth certificates for dependents (children below 18) and marriage certificates.
Submit only the latest and most relevant documents.
Obtain a health certificate after undergoing tests, including an HIV test.
Photocopy of valid passport with entry/exit stamps.
Original notarized and authenticated police record.
Original notarized and authenticated marriage certificate (if applicable).
Original notarized and authenticated birth certificate (if applicable).
Three passport-sized photos.
Authenticated Financial Reference Letters from a financial institution.

Investment Options

The following citizenship by investment visas are available in Panama:
Qualified Investor Permanent Residency Visa
Friendly Nations Visa
Reforestation Investor Visa

Friendly Nations Visa

This visa is available to citizens of one of the 50 friendly nations listed by the Panamanian government.

Reforestation Investor Visa

This visa is available to investors who make an $40,000 investment in a government certified reforestation project.

All three of these visas offer a path to citizenship after 5 years of permanent residency.

Qualified Investor Permanent Residency Visa

This visa is available to investors who make a qualifying investment in Panama. The investment options are as follows:
$300,000 investment in real estate
$500,000 investment in government bonds
$300,000 investment in a business

The Panama 50 Friendly Nations

Great Britain	USA	Singapore	Lithuania	Hong Kong
Germany	Slovakia	Uruguay	Latvia	Luxembourg
Argentina	France	Chile	Cyprus	Liechtenstein
Australia	Finland	Sweden	Malta	Monaco
Republic of Korea	Netherlands	Poland	Serbia	Andorra
Austria	Ireland	Hungary	Montenegro	San Marino
Brazil	Japan	Greece	Israel	Taiwan
Belgium	Norway	Portugal	Denmark	Costa Rica
Canada	Czech Republic	Croatia	South Africa	Mexico
Spain	Switzerland	Estonia	New Zealand	Paraguay

Fees

You, your spouse, and children under the age of 18 qualify.
Objectively, the fees are minimal.

Visa Type	Government Fees	Other Fees
Qualified Investor Permanent Residency Visa	$5,000 for the main applicant and $1,000 per dependent	Legal fees, due diligence fees, real estate transfer taxes, and other associated costs
Friendly Nations Visa	$300 for the main applicant and $100 per dependent	Legal fees, due diligence fees, and other associated costs
Reforestation Investor Visa	$5,000 for the main applicant and $1,000 per dependent	Legal fees, due diligence fees, and other associated costs

FAQs about Turkey The Citizenship by
Investment Programm:

Is it necessary to come personally to Panama to incorporate the Company?

No. It is not necessary to be present in Panama for incorporating a Panama IBC Company

Can I hold personal ownership of real estate property in Panama?

Yes. Foreigners have the same property ownership rights as local Panamanians

DO FOREIGNERS NEED ANY SPECIAL DOCUMENTS TO PURCHASE PROPERTY?

The simple answer is NO

IS IT TRUE THERE IS NO PROPERTY TAX IN PANAMA?

It is true for most condo buildings in the city. There is a 20-year exemption on any property from the date of occupancy. For example, a building that received its occupancy permit in 2011 would be exempt until 2031. The exemption does not apply to the value of the land for the condo building and on average there is a small annual tax to be paid of $150 to $250 per year per apartment

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Disclaimer

The materials contained in this page are provided for general information purposes only and are not intended to provide legal or other professional advice. Processing times and costs will vary depending on a number of factors. CitizenMatch is not responsible for any changes to the time and cost estimates; we can provide specific information on an individual basis. All rights reserved.

Program Benefits

There are many benefits to be realized from these programs.
Let’s take a look.