October 1, 2022
  • 4:02 am COVID-19 SAFETY GUIDELINES AND REQUIREMENTS TO ENTER PANAMA
  • 4:21 am Interview with The Hong Kong Maritime Hub for The Port of Hong Kong Handbook & Directory 2022
  • 6:59 am It’s Time to Plan your Trip to Panama
  • 6:26 am New provisions for the Visa of Passengers or Crew in Transit, to Cuban citizens.
  • 6:06 am Belt & Road National Art & Culture Expo Incorporating The 4th Hong Kong International Arts & Collectibles Expo
  • 7:03 am The Panama Ship Registry has grown 9.6% since 2019
Hong Kong
Panama

Become a Resident

A land radiating with life, perfectly imperfect, and full of authenticity. Where Northern and Southern worlds connect, old and new worlds coexist, and cosmopolitan landscapes live in harmony with wild, untamed rainforests. Panama’s unique location provides the experience of a lifetime.

Panama tops the list of the world’s best places to retire, with friendly people, a safe living environment, has a pleasant climate and has a well-developed health care system.

Find below some of the programs available that will allow you to become a resident in Panama:

Panama Friendly Nations Visa (Calidad De Extranjeros Nacionales De Países Específicos Que Mantienen Relaciones Amistosas, Profesionales, Económicas De Inversión Con La República De Panamá)

Hong Kong is one of the 50 countries inside the list. Panama’s Friendly Nations residency program will grant a 2 year temporary residency permit, and then the applicant may apply for permanent residency.

The “professional and economic ties with the Republic of Panama” means that citizens of these 50 countries must establish professional or economic relationship with Panama.  This can be accomplished by either of the following two options:

  1. Be employed in Panama by a legal Panama Corporation with a formal labor contract, and a work permit.
  2. Purchase a real estate property with a minimum value of USD200,000 which can be financed with a local institution.

Permanent Resident Permit as Retiree and Pensioner (Permiso de Residente Permanente como Jubilado y Pensionado)

This permit may be requested by foreigners who receive retirement or pension from a foreign government, international organization or private company, who enter the national territory to settle in it and have sufficient financial means to cover all their subsistence expenses and those of their dependents. in the country. The monthly income or pension may not be less than one thousand balboas (B/.1,000.00) and must be granted for life.

In the event that the applicant proves that he has acquired a property in a personal capacity in the national territory for an amount greater than one hundred thousand balboas (B/.100,000.00), the pension may be for a minimum of seven hundred and fifty balboas (B/.750.00).

Permanent Resident Permit due to Investment in Real State (Permiso de Residente Permanente por Inversión Inmobiliaria)

Any foreign person who makes investments through a promise of sale contract for the acquisition of real estate or in the purchase of real estate for a sum of five hundred thousand balboas (B/.500,000.00) free of liens and/or made through from a trust deposit managed by a local bank or trustee, licensed to operate in the Republic of Panama.

Permanent Resident Permit as Retired Rentista (Permiso de Residente Permanente como Rentista Retirado)

The foreigner who enters the national territory, who is retired from active life and who earns a minimum income of two thousand balboas (B/.2,000.00) per month, coming exclusively from interest from fixed-term deposits in the National Bank of Panama or the Savings Bank, free of any encumbrance or guarantees of any nature, which will be for a minimum period of five (5) years, pursuant to the provisions of Law No. 9 of 1987 and its regulations.

The withdrawal of a fixed term at any time after the first five (5) years and the breach of the terms established in Law No. 9 of 1987, this Decree Law and this regulation, will cause the loss of the incentives and rights granted by said law.

Permanent Resident Permit as an Investor in Export Processing Zones (Permiso de Residente Permanente como Inversionista en Zonas Procesadoras para la Exportación)

A foreigner who proves having invested a sum of not less than two hundred and fifty thousand balboas (B/.250,000.00) from abroad, in a duly authorized company, such as promoter or operator of an Export Processing Zone or in established companies within these areas, according to Law 25 of 1992.

Permanent Resident Permit for Fixed Term Deposit Investment in the Banking Sector (Permiso de Residente Permanente por Inversión en Depósito a Plazo Fijo en el Sector Bancario)

The foreigner who makes an investment in the opening of fixed-term deposit(s), for a minimum amount of seven hundred and fifty thousand balboas (B/.750,000.00), in any bank with a general license authorized to operate in the national territory, and that said deposit has a minimum term of validity of five (5) years. This deposit must be free of all liens.

Discover more programs under Executive Decree No. 722 of 15 October 2020

Note that all of the above visa permit applications must be made through a Panamanian lawyer.