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It is relatively easy to gain residency in Panama but nearly impossible to gain citizenship. However, except for the right to vote and hold office, foreigners who gain residency in Panama have nearly all the same rights and privileges as native born Panamanians. Panama updated its residency requirements in 2008 making the process more expensive but not prohibitive. By law you need to use a Panamanian lawyer for the paperwork.

NOTE: To gain residency in Panama the law requires that a lawyer do the paperwork. If you need a referral to a competent immigration lawyer in Panama feel free to contact us at ABPanama. This review of immigration and visa requirements in Panama is for general information only. Be sure to contact a competent attorney for the most recent changes in Panama immigration law. If you already have a visa or started the process prior to the change in law in August 2008 you are likely going to proceed under the old law but be sure to ask you attorney.

Panama Residency, Immigration, and Visa

There are three basic ways to pass immigration requirements and get residency with a renewable visa in Panama: Qualify with a pension, invest, and marry a Panamanian citizen or resident.

Panama Immigration, Residency and Visa for Pensioners

Panama has had "jubilado" or pensioner visas for years. Since August of 2008 you need to demonstrate a social security payment or private pension of $1,000 a month or more plus an extra $250 a month for each dependent.

You will need a letter from the social security administration or your private pension administrator to certify your retirement benefits.

Other paperwork includes a passport valid for at least a year, a police report free of arrests or convictions for five years validated by the nearest Panamanian consulate to your home residence, and a medical exam done in Panama.

You will need to prove yearly that you are still getting your pension benefits.

Investment Visas and Residency in Panama

These programs include an investor visa, a reforestation visa, and person of means or private incomes visas.

Panama Investor Visas and Panama Residency

The Panama investor visa requires that you invest $160,000 and employ five Panamanian workers full time at minimum wage.

There used to be a small investor visa but that is no longer offered with the August 2008 change in the immigration law.

This program provides a temporary visa followed by permanent renewable visas. However, you must maintain the business and keep paying the five employees.

Panama Reforestation Visa and Panama Residency

With the change in law the temporary reforestation visa is $60,000 minimum with a 10-hectare requirement. The permanent reforestation visa costs $80,000 and you need to reforest 20 hectares. A hectare is two and a half acres so that is 50 acres. This program provides a series of renewable visas followed by a permanent visa and residency.

Panama Private Income Retiree Visa and Panama Residency

Retirees without a pension but a lump sum distribution at retirement can deposit a five year CD with the Panama National Bank (BNP) sufficient to yield at least $750 a month. This visa is renewable every five years and gives one long term Panama residency and a Panamanian passport for travel and but not for citizenship.

Panama Person of Means Visa and Panama Residency

This option requires a CD of $300,000 in a Panama bank for three years or a $300,000 cash down payment for purchase of property. This investment leads in one year to renewal and a permanent visa with the right to a cedula or identity card. Five years after receiving permanent Panama residency the "person of means" is eligible for citizenship and a passport.

The last means is to marry a local. This still requires a lawyer and costs money for the paperwork but may be a much simpler and more permanent solution to residency in Panama. If you are already married you do not need the other routes to immigration.

As this review shows Panama has a number of means to come to Panama and stay. If you choose one of these options you will be looking for a place to live and perhaps for investment advice. See your attorney about your visa. See ABPanama about your property and investment in Panama.