Panama self-solvency visa | An Incomplete Guide

Overview:

The Panama Self-Solvency Visa is an investment visa that requires you to invest $300,000 in Panama in exchange for local residency.

Currently, there are three economic options available for the Panama Self-Solvency Visa:

1. Purchasing property in Panama;

2. Making a fixed deposit for over three years in any local bank;

3. Investing in the real estate sector and making a deposit at the local central bank.

You can choose any of the above options, and as long as your investment is no less than $300,000 (with an additional $2,000 required for each accompanying secondary applicant), you can obtain a two-year Panama Self-Solvency Visa.

After two years, if you maintain your investment, all primary and secondary applicants are eligible to apply for permanent residency in Panama.

Application Process:

The application process for the Panama Self-Solvency Visa must be conducted offline, and the process is roughly as follows:

1. Complete the investment: You need to first enter Panama, open an account at a local bank, transfer the funds to Panama, then decide on and complete the investment.

2. Submit the application: For this step, you need to prepare all required documents and submit the visa application in person to the Panamanian Immigration Office:

Required documents include:

Applicant identity documents: Include all primary and secondary applicant passports and copies, three passport-sized photos; marriage certificates, birth certificates, and other documents proving the relationship between primary and secondary applicants.

Application form: You need to fill out an application form and a letter pledging to guarantee the economic status of all secondary applicants.

Proof of funds: You must provide various income and asset proofs to verify the legality of your investment funds.

Investment proof.

Criminal record certificate: All primary and secondary applicants over 18 must provide a criminal record certificate issued within the last six months.

Health examination certificate: The health examination must be issued by a local doctor in Panama.

Local address in Panama: You need to provide a commonly used address where you can receive mail; this address can be the address of a hotel where you are staying in Panama, or a friend/intermediary’s address.

All documents from outside Panama must be notarized, and all non-Spanish documents must be translated into Spanish.

3. Preliminary review: After an initial assessment of the applicant’s qualifications, the Panamanian Immigration Office will first issue a short-term residence visa to the applicant and their family.

4. Review and visa issuance: The Immigration Office will complete all background checks and investment reviews within six months after the preliminary review and then issue a two-year Self-Solvency Visa to qualified applicants.

Dependents:

For the Panama Self-Solvency Visa, the main applicant’s spouse, children under 18, and financially dependent children aged 18 to 25 can also obtain permanent residency in Panama as secondary applicants.

Citizenship:

The Panama permanent residency card must be renewed every five years. This card does not have a minimum residency requirement; however, to demonstrate ties to Panama, you must stay in the country for at least one full day every two years.

Non-native Spanish speakers with permanent residency who have lived in Panama for five years (or three years if they have a Panamanian spouse or children), and have resided in the country for more than six months each year, can apply for naturalization after passing an interview that assesses their knowledge of Spanish, Panamanian history, geography, and civic rights.