Requirements to Qualify for a Self Economic Solvency Visa in Panama

For the actual process of how to apply and our legal counsel please view “Panama Immigrant Visa -  Self Economic Solvency.”

Foreigners that invest the minimum sum of Three Hundred Thousand dollars ($300,000) in Panama Real Estate or a Panama bank time deposit or a combination of both will be able to qualify for this visa. If the foreigner has dependents, the applicant needs to invest an additional Two Thousand Dollars ($2,000) for each dependent.

Currently, the Panama Self Economic Solvency Visa offers three (3) different Panama investment options to qualify for Panama residency:

Panama Investment Option #1: CD (certificate of deposit) in a Panamanian Bank

Invest a minimum of US$300,000 (Three Hundred Thousand US Dollars) in a three (3) year time deposit (or “certificate of deposit” or “CD”) at any Panama bank.

Stipulations: The Panama bank time deposit (CD) account must be in the personal name of the primary applicant (it may not be in the name of a Panama corporation, Panama foundation, or trust). The interest earned from the Panama bank time deposit (CD), will be deposited monthly into any savings account at the Panama bank that you designate (the Panama savings account may be a personal account, or a corporate account). The interest income is NOT taxed by the Panamanian government, nor is it subject to any tax reporting requirements.

Dependents: For each additional dependent that applies for residency under the primary applicant, the primary applicant must prove that he or she has sufficient income to support the general costs of living of each dependent.

Qualifying for a Panama Self Economic Solvency Visa with a Fixed Panama Bank Time Deposit

In addition to the basic requirements established in Article 28 of the Decree Law, the applicant must submit the following documents:

1. Panama bank certification that the foreigner opened a Panama bank time deposit account in the applicant’s name for a minimum of three (3) years in any Panama bank for a minimum value of Three Hundred Thousand dollars ($300,000), or its equivalent in foreign currency;

2. Copies of the Panama bank time deposit certificate authenticated by the bank.

Panama Investment Option # 2: Real Estate

Invest a minimum of US$300,000 (Three Hundred Thousand US Dollars) in titled Panama real property.  This must be equity, as mortgages do not count.

Stipulations: The titled Panama real property can either be in the personal name of the primary applicant or in the name of a Panama Private Interest Foundation; as long as the primary applicant is either the Founder or a Beneficiary (it may not be in the name of a Panama corporation or trust). The primary applicant must also prove that he or she has sufficient income to support him or herself.

Dependents: For each additional dependent that applies for residency under this Panama immigration program, the primary applicant must prove that he or she has enough income to support the living costs of each dependent.

In addition to the requirements established in Article 28 of the Decree Law, the following documents must be submitted:

Certificate from Panama’s Public Registry verifying personal title of the applicant with a minimum value of Three Hundred Thousand dollars ($300,000), free of debt.

Note I: In the case that the title of the Panama real estate is under the name of a Panama Private Interest Foundation, the applicant will qualify if he or she is the Founder and/or one of the beneficiaries. The certificate of the Public Registry must designate the applicant as either the Founder or Beneficiary.

Note II: In the case when the applicant has paid the minimum required cash sum of Three Hundred Thousand dollars ($300,000) towards the total price of the Panama real estate, he or she will be able to finance the remainder through mortgage loans.

Note III: The General Director of the National Service of Immigration will be able to consider the Panama permanent residency application as a Panama self economic solvency visa of those foreigners who invested a minimum of Two Hundred Thousand ($200,000) in Panama real estate but less than Three Hundred Thousand dollars ($300,000) if they entered into a sales contract before this rule went in to effect [August 26, 2008]. This exception should be verified by the bank transfer to the Panama real estate agency as a guarantee of the Panama real estate purchase with an authenticated copy of the promise to buy and/or pre-construction contract.

Panama Investment Option # 3: Mixed Investments – CD and Real Estate

The third option is a mixture of a 3-year Panama bank CD with Panama real estate purchases equity (excluding mortgages) with both totaling a minimum of $300,000.

Stipulations: The Panama bank time deposit (CD) account must be in the personal name of the primary applicant (it may not be in the name of a Panama corporation, Panama foundation, or trust). The interest earned from the Panama bank time deposit (CD), will be deposited monthly into any Panama bank savings account that you designate (the savings account may be a personal account, or a corporate account). The interest income is NOT taxed by the Panamanian government, nor is it subject to any tax reporting requirements.

The titled property must be in the personal name of the primary applicant or in the name of a Panama Private Interest Foundation where the applicant is the Founder and/or beneficiary.

The primary applicant must also prove that he or she has sufficient income to support his or her general costs of living.

Dependents: For each additional dependent that applies for Panama residency under this Panama immigration program, the primary applicant must prove that he or she has enough income to support the general costs of living of each dependent.

Contact Information:

info@thepanamaclub.com

+507-836-6542 / 43 (Panama)

1-(305)-503-9957 (USA)