Panama Self Solvency Visa – Complete Guide

If you want a foreign residency program that doesn’t involve chasing job offers or proving a monthly income stream, the Panama Self Solvency Visa may tick all your boxes. 

The Panama Self Solvency Visa is one of the most straightforward residency-by-investment programs in Latin American countries. It is targeted at foreign nationals who can support themselves, inviting them to make a qualifying investment in Panama and secure the right to live in one of the most stable, warm, and business-friendly countries in the region. 

This post will serve as a guide to everything you need to know about the Panama Self Economic Solvency Visa, including eligibility, requirements, costs, and benefits. 

Key Takeaways  

• The Panama Self Solvency Visa is a straightforward residency-by-investment program that allows financially independent foreigners to obtain residency without requiring employment or local income. 
• There are three investment pathways to qualify: a fixed-term bank deposit of at least US$300,000, a titled real estate purchase of at least US$300,000, or a combination of both totaling US$300,000, with an additional US$2,000 required for each dependent. 
• Applicants can include their legal spouse and eligible dependents (children under 18, or 18–25 if unmarried and full-time college students in Panama) under the same application. 
• The visa grants provisional residency permit for two years, after which applicants can apply for permanent residence.  Applicants who want Panamanian citizenship can apply after 5 years of permanent residence, provided they meet all standard requirements. 
• Panama residency offers a tax advantage thanks to its territorial tax system, which taxes residents only on Panama-sourced income. 

The Panama Self Solvency Visa, also known as the Self Economic Solvency Visa, is a program that offers Panama residency to foreign investors who can prove financial solvency to cover their expenses and those of their dependents in Panama. 

Applicants can prove financial solvency in three ways: by creating a fixed-term deposit of $300,000 (minimum) in a Panamanian bank account, purchasing a titled real estate property in Panama worth $300,000 (minimum), or a combination of both.   

Unlike the Panama Qualified Investor Visa, which grants immediate permanent residence, successful applicants in this Visa program receive temporary or provisional residency for 2 years, after which they can apply and obtain PR.  

Highlights of the Panama Self Solvency Visa 

• It is a residency-by-investment program, so eligibility is based purely on your ability to support yourself through a qualifying investment in Panama. You don’t need a job offer, a local employer, or an ongoing income stream in Panama. 
• You can qualify for this visa in one of three ways: 
• Deposit at least US $300,000 in a Panamanian bank in a fixed-term account (typically for at least 3 years). 
• Purchase a titled property in Panama worth at least $300,000 (only equity is allowed, no mortgages) 
• A combination of both pathways (the fixed-term deposit and the property purchase), totaling a minimum of $300,000 
• You can include your spouse and other eligible dependents in one application. However, there is an additional $2,000 cost per dependent, regardless of investment path. 
• Successful applicants receive a provisional ‘resident in process’ followed by a two-year temporary residence permit and then they can apply for permanent residency after this period, provided all requirements are met and all investments remain valid. 
• You may be eligible for Panamanian citizenship by naturalization after 5 years of permanent residency and obtain a Panama passport. This is provided you demonstrate strong ties to the country, while meeting all other standard requirements.  

Who is this visa best for? 

This visa is best for financially independent global investors who want Panama residency without employment or income requirements or a very high investment requirement. It also suits those who value flexibility and are comfortable starting with temporary residence before moving to permanent status. 

• It provides a clear route to legal residency in Panama by demonstrating financial self-sufficiency through investment, without needing local employment or recurring income. 
• The visa allows the inclusion of spouses and other dependents in the same application, with additional investment requirements for each dependent. 
• It is an affordable residency-by-investment program with a minimum investment of $300,000. 
• Unlike the Friendly Nations Visa, foreign nationals from all countries can apply for the Economic Solvency Visa. 
• You can maintain your residency without living in Panama full-time and, in many cases, only need occasional entry to keep your status active. 
• The qualifying investment in Panamanian real estate can potentially be successful, depending on the market. Your real estate purchase may generate rental income or capital appreciation, and bank deposits may earn interest, making the investment opportunities potentially profitable while supporting your residency. 
• Thanks to Panama’s territorial tax system, any legal Panamanian resident is taxed only on income sourced in Panama, not on foreign-sourced income. 
• Successful applicants can obtain permanent residency after two years and also apply for Panamanian citizenship after 5 years of PR, provided they meet the standard criteria. 

Before applying for the Panama Self Solvency Visa, international investors must meet the eligibility criteria and required investments. 

Eligibility Criteria 

• Must be 18 years or older 
• Must meet investment requirements 
• Must prove that funds originate from abroad. The money used for the investment must originate outside Panama, and you must provide documentation showing the legal source of funds. 
• Must have a valid passport and identification, passport photographs. 
• Must have a clear criminal record. Applicants must submit a criminal background check from their country of origin (or current country of residence, if different), authenticated or apostilled by a Panamanian consulate. 
• Must have health and life insurance 
• Dependent children must be unmarried and 25 years or younger. 

Investment Requirements 

As stated earlier, applicants for the Self Solvency Visa must choose one of three minimum investment pathways to qualify for this visa. 

1. Deposit at least $300,000 in a fixed-term deposit (Certificate of Deposit) in a Panamanian bank account, usually for 3 years. 
   • Bank must be a local bank in Panama, and you must receive a bank certificate 
   • There is an additional $2,000 investment for each dependent 
   • The bank account must be in the primary applicant’s personal name. It cannot be held under a foundation or trust. 

2. Purchase property worth at least $300,000 in Panama 
   • The property must be titled in Panama real estate and purchased fully in equity 
   • Mortgages do not qualify 
   • The property can be in the personal name of the applicant or in a Panama Private Interest Foundation, provided the applicant is the Founder or a Beneficiary; it cannot be held under a Panama corporation or trust. 
   • There is an additional $2,000 investment for each dependent 

3. Fixed-term deposit + Property purchase 

This option allows applicants to combine a 3-year Panama bank CD with a real estate investment in Panama (equity only) so that the total investment equals at least US$300,000. For applicants including dependents, an additional US$2,000 per dependent must be added to the total investment. 

For each dependent, the applicant would have to include: 

• A signed declaration confirming that the main applicant accepts financial responsibility for the dependent. 
• Documents demonstrating the legal or familial relationship between the applicant and the dependent. 
• Evidence showing that both the applicant and dependent share the same residential address. 
• For dependents aged 18 or older, official certificates confirming unmarried status and full-time student enrollment. 

Note: Applicants must also maintain a local Panamanian bank account with a minimum balance of USD 10,000.  

To apply for the Economic Solvency Visa, you need the following documents. 

General documents 

• Original and clear photocopy of your Passport 
• 8 recent passport-sized photographs 
• Original Police Clearance Certificate. 
• Original or certified copy (if applicable) of your birth certificate. 
• Marriage Certificate: Original or certified copy (if applicable). 
• Bank Reference: Original letter from your bank, dated within the last six months. 
• Documents verifying your business or property investment. 
• Sworn affidavit confirming your criminal history. 
• Sworn affidavit detailing financial support for any dependents. 

Additional documents for bank deposit pathway 

• Official certification from the Panamanian bank showing that the applicant has opened a time deposit account in their name for at least three (3) years with a minimum deposit of US$300,000 (or equivalent in another currency). 
• Copies of the time deposit certificate (CD), verified and authenticated by the bank. 

Additional documents for real estate investment pathway 

• Official certificate from Panama’s Public Registry confirming that the applicant holds the title to real estate valued at a minimum of US$300,000, free from any debts or liens. 

Note: If the property is held under a Panama Private Interest Foundation, the applicant qualifies if they are listed as the Founder or Beneficiary on the Public Registry certificate. 

Also, if the property’s total value exceeds $300,000 and the applicant has already paid at least US$300,000 in cash (from abroad) toward the property’s total price, the remaining balance may be financed through a mortgage loan from a Panamanian bank. 

Here is a step-by-step breakdown of the Panama Economic Solvency application process.   

Step 01/ Select Your Investment Pathway 

Applicants must qualify under one of the following three options: 

Option A:  Bank time deposit 

• Place a minimum of US$300,000 in a fixed-term (time deposit / CD) account at a Panamanian bank 
• Deposit must typically be held for at least three years 
• The account must be in the personal name of the main applicant 

Option B: Real estate investment 

• Purchase titled real estate in Panama with a minimum value of US$300,000 
• The property must have no liens 
• If the property price exceeds US$300,000, you can finance the remaining amount via mortgage. 

Option C: Combination investment 

• Combine a bank time deposit and real estate investment 
• Total combined investment must equal at least US$300,000 

Note: You must add an additional USD 2,000 for each dependent added on to your application. Also, you must maintain the qualifying investment throughout the temporary residency period 

Step 02/ Complete the investment 

Depending on your chosen pathway, you must: 

• Open and fund the time deposit account 
• Complete the real estate purchase and register title 
• Or complete both for the combination option 

Step 03/ Obtain official proof of investment 

You cannot submit your application until you fully execute the qualifying investment and provide proof of it.  

For Bank Deposits 

• Bank certification confirming the opening and funding of the time deposit 
• Authenticated copy of the deposit certificate 

For Real Estate 

• Public Registry certificate confirming property ownership and value 
• Confirmation that the property is free of liens 

Both sets of documents are used for applicants using the combination investment pathway. 

Step 04/ Gather personal and civil documents 

Gather all required documents (listed above) and ensure that they are legalized or apostilled before submission to Panama’s immigration office. 

Step 05/ Submit residency application in Panama 

Submit the complete application package to Panama’s National Immigration Service and ensure all personal documents, investment certificates, and Government filing fees are included. At this stage, your passport is registered in the immigration system. 

Step 06/ Receive temporary (provisional) residency 

Once the application is approved, you will receive a provisional residency permit valid for 2 years. This allows you to legally live in Panama during this period. 

Step 07/ Maintain compliance during temporary residency 

Throughout the two-year temporary period, you must maintain the qualifying investment and valid documentation and comply with Panamanian law. After two years, you can apply for permanent residency, provided you can show continued ownership of the qualifying investment. Once approved, you will receive permanent residency. 

According to the official Servicio Nacional de Migración (Panama Immigration) requirements for the Solvencia Económica visa application: 

• USD 250 payable to the Tesoro Nacional (National Treasury) as part of the immigration application process. 
• USD 800 payable to the Servicio Nacional de Migración (National Immigration Service) as part of the residency application. 

The official Government immigration fees for this visa are approximately  USD 1,050 per applicant. Note that legal fees, additional dependent costs, and other costs are not included in this amount as they may vary for each applicant.