VISA INFORMATION

TOURIST VISA:

Tourists may remain in the country only for 90 days, with only those with an original period under 90 days being able to ask for a 60-day extension when justified, such as having a residency visa in progress.

RESIDENCY VISAS: Panama has very attractive visas for pensioners and investors. Here are the most popular visas to relocate to Panama:

PENSIONER VISA:

This visa is designed for persons whose pension from a Government entity or private corporation is $1,000 or more ($1,250 or more for a couple, plus $250 per additional dependent). Or, you can own $100,000 in property and only need $750 ($1,000 per couple) in a guaranteed pension.

It is granted indefinitely and includes benefits such as a one-time exemption of duties for the importation of household goods (up to $10,000) and an exemption every two years of duties for the importation of a car.

Requirements:

1. Valid Passport (with at least a year before expiration). 6 passport-size photos (gentlemen in suit and tie; ladies in blouses or dresses with sleeves)

2. Letter or Certification signed in original from your pension provider, as evidence of Pensioner Status stating entitlement to a pension of more than $1,000 (or $750) and at least an additional $250 for each dependent you will be bringing under your visa, duly authenticated.

3. Good Standing certificate, issued by the Registrar of Companies if the pension is granted by a private corporation, rather than a government agency, duly authenticated.

4. Police Record of your place of residence for the past five years, duly authenticated.

5. Marriage Certificate (if your spouse is to be included as dependent in your visa), duly authenticated.

PRIVATE INCOME RETIREE VISA:

This visa is for persons, despite not receiving a monthly pension, are no longer working and have received a retirement lump sum which may be deposited on with the National Bank of Panama, yielding at least $2,000 a month.

The Private Income Retiree Visa includes such benefits as a one-time exemption of duties for the importation of household goods (up to $10,000) and an exemption every two years of duties for the importation of a car.

Requirements:

Valid Passport (with at least a year before expiration).

SELF-SOLVENCY VISA:

Designed for those who wish to live in Panama, who are not being employed or starting a business, but living of their own means.

Self-solvency investor visa minimum investment alternatives include also real estate for which at least US$300,000 is paid for, free of mortgage or a mixture of a 3-year deposit and mortgage-free real estate up to a combined minimum of US$300,000. Self-solvency investor visa real estate may be held under a private foundation which founder or beneficiary is the applicant.

It is granted provisionally for one year and after renewal it is granted permanently with the right to be issued a Cedula (local identity card).

Five years after obtaining the permanent visa, holders will be eligible to apply for Panamanian Nationality.

Requirements:

Valid Passport (with at least a year before expiration).

INVESTOR VISA:

Designed for those who wish to establish a business in Panama (retail businesses and some professions are reserved to Panamanians).

There must be a minimum investment of $160,000 and minimum of five (5) permanent Panamanian employees hired.

It is granted provisionally for one year and after renewal it is granted permanently with the right to be issued a Cedula (local identity card).

Five years after obtaining the permanent visa, holders will be eligible to apply for Panamanian Nationality.

Requirements:

Valid Passport (with at least a year before expiration).

This visa will also require setting up a corporation and obtaining a business license.

FORESTRY TEMPORARY INVESTOR VISA:

Designed for those who wish to make long-term investments on reforestation, and take advantage of tax break benefits.

There must be a minimum investment of $60,000 for purchasing 10 hectares or more into a duly accredited reforestation company. This investment must be kept until final harvest (approximately 20 years).

It is granted provisionally for one year and after renewal it is granted permanently with the right to be issued a Cedula (local identity card)

Five years after obtaining the permanent visa, holders will be eligible to apply for Panamanian Nationality.

Requirements:

Valid Passport (with at least a year before expiration).

This visa will also require setting up a corporation.

FORESTRY PERMANENT INVESTOR VISA :

Minimum investment is US$80,000, and purchasing requirement of 20 hectares.

See above requirements.

BUSINESS INVESTOR VISA:

Designed for those who wish to establish a business in Panama (retail businesses and some professions are reserved to Panamanians).

There must be a minimum investment of $160,000 and minimum of five (5) permanent Panamanian employees hired.

It is granted provisionally for one year, and needs to be renewed three more times before it is granted permanently with the right to be issued a Cedula (local identity card).

Five years after obtaining the permanent visa, holders will be eligible to obtain Panamanian Nationality.

Requirements:

Valid Passport (with at least a year before expiration).

This visa will also require setting up a corporation.

General Rules:

· All visa applications must be made through a Panamanian lawyer.

· There is no age limit or maximum required for applying for any of these visas, save for the minimum legal age of 18 years. Children under 18 will qualify for a visa as dependents of their parents.

· All overseas documents to be presented to the authorities in Panama must be authenticated by a Notary and by the Panamanian Consulate nearest you, or by a Notary and the Apostille. The Apostille (The Hague Convention of 1961) is a faster way of authenticating documents and is normally obtained through the Secretary of State in your home state (in the USA) or through the Foreign Office (in UK). The Apostille is not available in Canada.

· All documents must be fresh (within 2 months of visa application) and passports must have at least 1 year to run.

· Dependents: If your spouse will be covered by your visa, you need to bring Marriage Certificate. Original marriage certificates are not acceptable if over 2 months old, so you need to request fresh ones. If your children (under 18), are to be covered by your visa, you need to bring fresh Birth Certificates (not the original ones).

· None of these visas grant work permits.

· All visa applications require that you obtain in Panama a health certificate and HIV test.

Please consult a Panamanian attorney for additional updates and further details.