In Panama, 1 in 6 Immigrants is an Investor
Panama has approved 388 investor visas so far in 2023. In the last six years, investors account for 16% of all residence permits issued.
Panama’s retirement visas grant an indefinite residency permit to applicants immediately upon approval, usually within two to three months, to those who can prove a passive monthly income in excess of US$1,000 (US$750 if combined with a real estate investment).
After five years of continuous residency, the applicant is eligible to apply for Panamanian citizenship. Timeframes for naturalization are reduced for citizens of certain countries in the Ibero-American community.
Program Type | Independent Means Visa |
Time to citizenship | 5 years |
Time to permanent residency | Immediately upon approval if income requirement met |
Minimum investment | None. Proof of US$1,000 monthly income |
Physical presence requirement | At least one visit a year |
Application processing time | 2-3 months |
Citizenship grants visa-free travel to | 141 destinations, including Schengen countries |
Contribution types available | No contribution required |
General program requirements
Panama’s Retirement visa requires that the applicant demonstrate a minimum monthly income or a lower minimum monthly income if combined with a real estate investment.
Without real estate investment:
Prove a $1,000 monthly income – and an additional US$250 per dependent – from a guaranteed source, such as a pension or annuity by a foreign government or insurance company.
With real estate investment:
Prove a $750 monthly income – and an additional US$250 per dependent – from a guaranteed source, such as a pension or annuity by a foreign government or insurance company and a US$100,000 investment in Panamanian real estate.
Program benefits
Requirements to qualify for citizenship
After five years of continuous residency, the applicant may apply for citizenship if all financial and physical presence requirements have been met over the residency period.
The process of naturalization necessitates the involvement of a variety of public organs, such as the Ministry of Government and Justice, the Ministry of Public Services, the Electoral Tribunal, the Government Office, and the Presidency. The Panamanian President ultimately approves and signs all applications for naturalization. Prospective citizens should consult legal specialists to ensure all appropriate steps are followed.
The Panama Electoral Tribunal conduct an interview with the applicant to test his command of Spanish and knowledge of Panama’s history, geography, and civil rights. At this stage, a final application will made to the Presidency.
Panama does not technically recognize dual citizenship but does not in practice monitor whether its new citizens renounce other nationalities.
Citizens of several Latin American countries have a fast track option for citizenship through reciprocity:
– 1 year: Colombia, El Salvador
– 2 years: Argentina, Ecuador, Spain, Honduras, Mexico, Nicaragua, Peru
– 3 years: Uruguay
Legislation upon which this program is based:
Immigration and Nationality Act (INA) Chapter 1 Article 204
No statistics available yet for this program.
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Panama has approved 388 investor visas so far in 2023. In the last six years, investors account for 16% of all residence permits issued.
“Most of our clients now pick either the Qualified Investor or Friendly Nations visas,” says Savannah Bruce.
So far in 2022, Panama has approved 1,229 such visas for main applicants, nearly as many as in the three preceding years combined.
Panama will keep its Qualified Investor Visa minimum investment requirement for real estate at US$300,000 for another two years.
Panama is on track to approve more independent means visas this year than in the preceding three years combined.
Panama’s independent means visas could reach all-time highs this year, while the Friendly Nations Visa is losing its luster, now that it requires an investment.
Programs that offer citizenship within months in exchange for investments or donations, with minor/no physical presence requirements.
Programs that offer citizenship in exchange for investments following a 1-2 year period, with minor/no physical presence requirements.
Bulgaria Investor Program (discontinued)
Malta MEIN
Programs that offer residence permits within months in exchange for passive investments, with limited physical presence requirements.
Andorra Residence Without Lucrative Activity
Anguilla Permanent Residency Program
Australia BIIP Investor Streams
Bahamas Economic Permanent Residence
Barbados SERP Program
Bermuda Economic Investment Certificate (EIC) Program
Brazil Investor Visa (VIPER)
Cambodia My 2nd Home
Cayman Islands Investor Visa
Colombia Investor Visas M and R
Costa Rica Investor Visa
Curaçao Investor Permit Program
Cyprus Golden Visa
Georgia Investor Visas
Greece Golden Visa
Guernsey Investor & Entrepreneur Residency
Ireland Immigrant Investor Program (discontinued)
Italy Investor Visa
Latvia Investor Visa
Luxembourg Investor Visa
Malaysia M2H Visa
Malta Permanent Residence Program
Mauritius Permanent Residency Program
Monaco Carte de Séjour
Netherlands Investor Visa
New Zealand Investor Visa
Nicaragua Investor Permanent Residency Program
Panama Qualified Investor Visa
Philippines Special Investor Residence Permit
Portugal Golden Visa
Russia Investor Visa
South Korea Investor Visa
Spain Golden Visa
Taiwan Golden Visa (APRC Plum Blossom Card)
Thailand Elite Residence Program
UAE Golden Visa
UK Investor Visa (discontinued)
United States EB-5
Programs that offer residence permits within months to those who can demonstrate income or personal wealth above a certain level, usually requiring that the holder not take up employment locally.
Argentina Rentista and Pensionado Residency
Austria Independent Means Visa
Barbados Welcome Stamp
Gibraltar Category 2 HNWI Residence
Greece FIP Visa
Indonesia Retirement Visa (KITAS)
Ireland Independent Means (Stamp 0)
Italy Elective Residency Visa
Jersey High Value Residency
Mexico Legal Residency Visa
Nicaragua Pensionado and Rentista Visas
Panama Rentista Retirado Visa
Paraguay Permanent Residency Program
Portugal D7 Visa
Spain Non-Lucrative Visa
Uruguay Independent Means Visa
Programs that offer residence permits within months to those who physically relocate to start and/or run a business. Startup and entrepreneur visas fall under this category.
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