Panama Citizenship by Investment : A Complete Guide

Types of Citizenship by Investment Programs in Panama

Several investment options are available in Panama for those seeking to obtain citizenship by investment. The process usually starts with obtaining a residency visa through a qualifying investment. However, applicants must meet specific investment requirements, and they can choose one of four investment routes:

Panama Qualified Investor Visa program (Golden Visa)

The Panama Qualified Investor Visa program (Golden Visa) provides a pathway to immediate permanent residency in Panama for foreign investors who meet specific investment requirements. Applicants to the qualified investor program must maintain their investments for at least five years to qualify for Panama permanent residency status. After 5 years of permanent residency, applicants may apply for Panamanian citizenship by naturalization, provided they meet other standard requirements.

• One of the investment options is a real estate investment worth $500,000. This property investment must be made in real estate located in Panama and can include land ownership and residential or commercial properties. Real estate investments can be single properties or multiple properties totaling at least $500,000.

• Another fund investment option for investors is stock exchange investments worth $500,000. The investment can be made in stocks, bonds, or other securities traded on the Panama Stock Exchange. This investment option allows investors to diversify their portfolios and potentially earn a return on their investments.

• Finally, investors can make a fixed-term deposit worth $750,000 in the banking sector. This investment option requires the investor to deposit the required amount into a Panamanian bank for at least five years. The local bank will pay an interest rate on the deposit, and the investor will have the opportunity to earn a return on their investment.

In addition to meeting the minimum investment requirements, applicants must demonstrate that they have a clean criminal record and have not been involved in any illegal activities, both personal or illegal business activities. They must also provide evidence of their financial stability and can support themselves and any dependents while living in Panama.

Friendly Nations Visa program

The Panama Friendly Nations Visa program is available to citizens of select countries with professional or economic ties to Panama. Successful applicants receive a 2-year provisional residency, after which they can apply for permanent residency in Panama and, after 5 years, citizenship. The investment options include real estate investments worth $200,000, fixed-term deposits worth $200,000, or employment by a company in Panama for residency by labor reasons.

The Friendly Nations Visa is available to citizens of the following countries:

To be eligible for the Panama Friendly Nations Visa program, applicants must show their financial connection with Panama in one of the following ways:

• Employment contract

The applicant needs to present a job offer from a Panama company along with the company’s Certificate of Public Registry and Business License.

Upon starting the provisional residency application, the applicant must also apply to the national immigration service for a work permit, which can take six to nine months to be awarded. Once the work permit is approved, the applicant can begin working in Panama.

• Real estate ownership

The applicant must own a Panamanian property with a registered value of at least $200,000. Financing for the property can be obtained from a local institution that can loan out a bank deposit.

• Certificate of deposit

The applicant must possess a fixed-term deposit of at least $200,000 in a national bank in Panama. The deposit must be free of any encumbrances and have a minimum validity of three years. The investment can be made in the main applicant’s name or a legal entity’s name, where the applicant is the natural beneficiary of the shares.

Forestry Investor Visa Program

The Forestry Investor route involves investing in a company that has a forest registry with the Ministry of Environment, with options including real estate investments worth $100,000, an investment of $100,000 in teak reforestation, or an investment of $350,000 in teak reforestation to immediately qualify for permanent residency.

This kind of investment in titled land and a reforestation project can result in permanent residency immediately.

Self Solvency Visa Program

The Panama Self Solvency Visa is another residency-by-investment program that allows foreign nationals to obtain residency through three investment pathways:

• a fixed-term bank deposit of at least $300,000
• a titled real estate purchase of at least $300,000
• a combination of both totaling $300,000

This visa route is intended for foreign nationals who can support themselves. Eligible foreign nationals can make a qualifying investment in Panama to obtain residency. Successful applicants receive a 2-year provisional or temporary residency that can be converted to permanent residency in Panama after that period. Applicants are also eligible to apply for Panamanian citizenship after 5 years of permanent residence.

How do I apply for Panama citizenship by Investment? 

Application process

To get a visa, the following steps must be taken:

• Contact your nearest Panamanian Embassy or Consulate in your home country and schedule a visa appointment to facilitate the application process.
• Fill out the appropriate visa application form. These can be obtained online from the official website of the Embassy or Consulate or in person.
• Collect and submit all necessary documents. This includes proof of investment, application forms, and bank statements/proof of bank deposits. Ensure all required documents are included; any missing documents may result in refusal.
• Wait for a response from the Panamanian Embassy or Consulate where you submitted your application. They will notify you of your visa status via SMS or email within three days of document submission.
• If your visa is approved, you must visit the Panamanian Embassy in person to have the visa stamped in your passport.

Required documents

The following documents are required to apply for a Panama visa:

• Passport: Your passport should have a validity of at least one year from the date of return from Panama to your home country.
• Panama visa application form: Completed, signed, and submitted visa application forms.
• Fee payment: Pay the visa application fee at the nearest Panamanian Embassy or Consulate in your home country and attach the payment receipt.
• Two passport-sized photos: You should provide two recently taken passport-sized photos (within the last six months).
• Travel insurance: You must have valid travel health insurance that covers your medical expenses during your stay in Panama.
• Bank statement: Provide a bank account statement proving you are financially stable and can support yourself in Panama. Your bank account must have at least $500.
• Hotel or Airbnb reservation: You must provide proof of accommodation to demonstrate that you have a place to stay in Panama.
• Letter of invitation: If you are staying with a friend or family member in Panama, you will need a letter of invitation from them.
• Booked flight ticket: A return flight ticket that confirms you will return to your home country after the visa expires.
• Criminal record: Submit proof from the police authorities in your home country proving you are not a threat to the Republic of Panama.
• Proof of investment: This may vary by investment option. You may be required to provide proof of bank deposit, citizenship of a friendly nations visa country, investment into a Panama corporation, real estate investment, company formation, or economic activity in Panama to meet a visa’s minimum requirement.

Processing time for Panama Citizenship by Investment

The processing time for the residence application varies depending on the investment route selected. The processing time for the Qualified Investor route is 30 days, while it takes four to six months for the Friendly Nations and Forestry Investor routes.

Other Ways to Get Panamanian Citizenship

Individuals who have had residency in Panama for five consecutive years are eligible for citizenship. If you have children born in Panama or have tied the knot with a Panamanian citizen, you can apply for citizenship after three years of living in the region. Citizens of Latin American countries or Spain who have settled in Panama can apply after to obtain permanent resident status after three years of living there.

Naturalization

Naturalization is one of Panama’s most common ways to obtain citizenship. To be eligible for naturalization, an individual must have lived in Panama for at least five years on a permanent resident status. You can apply for one of the investment visas outlined in this blog post to obtain residency for this period.

Additionally, you must demonstrate a basic knowledge of the Spanish language, Panamanian history, culture, civil rights, and civic duties. Applicants must also have a clean criminal record and be financially stable to support themselves and their dependents while living in Panama.

Marriage

Marriage to a Panamanian citizen is another way to obtain citizenship in Panama. The process requires the foreign spouse to live in Panama for at least three years before they can apply for citizenship. During this period, the foreign spouse must have a temporary resident permit and maintain a clean criminal record.

Additionally, to acquire Panama citizenship you must show a marriage certificate, that you are financially stable and have a basic understanding of the Spanish language, Panamanian culture, and history.

Birth

Birthright citizenship is granted to those born in Panama, regardless of their parents’ nationality or immigration status. You just need your birth certificate. The country’s policy of jus soli – or “right of the soil” means that if a child is born in Panama, they are automatically considered a citizen of Panama.