Residence permit in Panama for investment in property
Foreign investors are granted a promising opportunity to secure a permanent residence for real estate investments in Panama. With its favourable conditions and benefits, this appealing option is a popular choice for those seeking to relocate. The programme is designed to attract foreign investment, foster the housing market's growth, and bolster the country's economy, offering a bright future for all involved.
Initially, the permit is issued for 2 years, after which Panama permanent residence retention is possible. Investment funds must be retained for 5 years.
The cost of permanent residence in Panama under this programme starts at $300,000. From October 2024, the minimum amount will increase to $500,000 due to investments' improved quality and safety. It is necessary to prove that the money came from abroad. Mortgage funds from a local bank can be used to repay above the required amount.
Conditions for obtaining a permanent residence in Panama
To obtain a residence in the country, an applicant needs to:
- Be over 18 years of age.
- Prove that the money for the purchase came from abroad.
- Prove that they have the means to live in Panama.
- Have health insurance.
- Obtain a certificate of no criminal record.
Types of investment options in Panama
Buying a property
A foreigner can purchase a property with a minimum price of $300,000, which will rise to $500,000 from October 2024.
Investments in the stock market
An investor can invest over $500,000 in securities in the stock market.
Bank deposit
This is one of the types of permanent residence in Panama that requires you to open a deposit in a local bank of at least $750,000 for 5 years.
Investments in the forest industry
Must invest at least $100,000 in reforestation, afforestation or other work that the Ministry of Environment approves.
Investments in the company
A foreigner can invest in a company from $160,000 per applicant. These must be shareholders and senior executives of the same organisation. An operating permit must be obtained, and at least 5 local employees must be employed.
Documents to obtain a permanent residence in Panama
Prepare the following documents to apply for a permanent residence certificate in Panama:
- Power of attorney and application form.
- 3 photos.
- A copy of your passport.
- A certificate of no criminal record.
- Health certificate.
- A cheque for $250 for the National Treasury.
- A cheque for $800 for the National Migration Service.
- An affidavit of identity form.
- Proof of investment (e.g., a state registration certificate that confirms ownership of the property and its value).
For dependents:
- Proof of kinship.
- Letter of responsibility.
- Proof of address.
- If the dependent is over 18, proof of single status and education will be required.
All your documents must be notarised or apostilled, as this validates their authenticity and ensures their acceptance in the application process.
Citizenship of Panama
To apply for citizenship in Panama, a permanent resident must have lived in the country for at least 5 years. For immigration to Panama as a family, prepare all the required documents. To obtain citizenship and a passport in Panama, you must pass exams on the republic's Spanish language, history, geography, and civil rights. A Panama passport offers many benefits, including visa-free travel to more than 140 countries, including the UK, Spain, Italy, Mexico, Japan, Italy, and others.
