Panama possesses diverse categories available for foreigners that wish to obtain their Visa or Residency in Panama whether for investment, work, retirement, studying, among others.
Some of the most relevant categories are:
It is the opportunity granted to foreigners with nationality of Friendly Nations that want to apply for permanent residency benefited with a cedula (ID) and indefinite work permit. The essential requisites are having a bank account with no less than 5 thousand dollars and a job offer or otherwise, a registered corporation where the applicant appears as Director. For the requirements and more information about this residency you can click here.
If you wish to know how a Corporation works in Panama and how to register it, you can click here.
It allows foreigners of any nation apply for Permanent Residency with the right to a Work Permit if holding a diploma of non-restricted career. It is important to point out that once it is approved you receive it for two years, and when renewing in the future you are granted permanency. The foreigner must provide for as of nine consecutive payments to the Social Security at renewal, and if the payment was voluntary, it must be made proportional to the minimum wage.
For the requisites and more information about this residency you can click here.
You can also verify:
Revalidations and Approvals
One of the most convenient residencies for those retired in their home nation and wish to migrate to Panama without requiring a Work Permit. Economic and of fast approval, it also grants some tax benefits and discounts for retirees.
You can see more information, discounts and benefits here.
Exclusive for persons holding an Italian passport. The requisites are practically the same as for those requesting Friendly Nation residency. It grants an identification document (cédula) and work permit and its approval is pretty quick. Its additional advantage is that it does not require the 800.00 dollar repatriation deposit. See more information here.
Non-resident or Temporary Worker Visa
For companies requiring to temporarily hire a foreigner to carry out a technical, out on field, cultural, artistic or musical, sports, professional, educational or scientific task, for a three-month period, renewable for the same period of time, can apply for this visa.
Residency for Foreign Workers hired by Private Companies among 10% of Ordinary Personnel
Applicable to the foreign workers hired by a private company receiving a monthly salary of no less than US$850.00. This worker must be among the allowed 10% of payroll. For this category, a provisional residency is granted for two years and permanent residency after renewal.
Residency for Personnel Hired under the Marrakesh Agreement
It can be applied for by foreigners that will be hired by companies with less than 10 Panamanian workers. The foreigner must receive at least US$1,000.00 monthly salary.
Residency – Married to Panamanian
Foreigners married to a Panamanian can apply for residency with the right to a cédula and a work permit. They are first granted with a provisional two-years permanency and permanent residency after renewal. It is important to point out that the applicant must attend the corresponding interviews. For labor matters, foreigners in this category account among the Panamanian percentage.
Permanent Residency for Corporate Investors
Basically for those who can prove an investment of no less than US$160,000.00 in a company in Panama with at least five Panamanian workers. This residency does not grant rights to a work permit.
Permanent Residency for Own Economic Solvency
Foreigners that invest US$300,000.00 whether in a house, term deposit, or both, can apply for a permanent residency without the right to a work permit.
Residency for Domestic Housekeepers
Permanent residents and nationals can hire foreigners for domestic housekeeping and these can apply for a residency under this category. The foreigner must be registered in the Social Security and is under the employer’s responsibility.