panama residency

Panama Residency

By http://robertgirga.com/RobertGirga/

Panama Residency

It is relatively easy to gain residency in Panama but nearly impossible to gain citizenship.

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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.

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Over the years Panama has modified its residency requirements making the process more expensive but not prohibitive.

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By law you used to need to use a Panamanian lawyer for the paperwork.

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In the last year Panama as started “immigration fairs” which give foreigners a streamlined approach to getting a ten year visa and a work permit.

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This approach does not, however, lead to a cedula and permanent residency in Panama.

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NOTE: Under current law to gain residency in Panama the law requires that a lawyer do the paperwork.

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If you need a referral to a competent immigration lawyer in Panama feel free to contact us at www.RobertGirga.com.

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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.

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If you already have a visa or started the process prior to any changes in the law you are likely going to proceed under the old law but be sure to ask you attorney.

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Basic Routes to Panama Residency

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Basic Routes to Panama Residency

Retirees commonly look to get a pensionado visa and residency in Panama.

This requires that your social security check or other pension come to at least $1,000 a month, and more for each dependent.

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You can also make investments in business or property in Panama to gain residency.

And, you can marry a Panamanian citizen or other legal resident of Panama and gain residency as a dependent, even though you may be the one who pays the bills.

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Visas for Pensioners

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Visas for Pensioners

Panama has had “jubilado” or pensioner visas for years.

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You will 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.

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These numbers may change over time.

You will need to produce a letter from the social security administration or your private pension to verify your benefits.

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Commonly you will want this document notarized and apostillized in order to be valid for presentation to immigration in Panama.

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Ask your attorney about this.

In addition your passport needs to be valid and at least a year from expiration.

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You will need to produce a police report free of arrests or convictions for five years validated by the nearest Panamanian consulate to your home residence or apostillized in the USA.

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And you will need a medical exam done in Panama.

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Investment Visas and Residency in Panama

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

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Requirements and availability seem to change over time so this is, again, something to discuss with your attorney.

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Typically for an investor visa you will need to demonstrate investment in the range of $160,000 and you will need to employ five Panamanian workers full time at minimum wage.

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This type of program provides a temporary visa followed by permanent renewable visas.

However, you must maintain the business and keep paying the employees.

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Panama Reforestation Visa and Panama Residency

This visa also seems to change with time but in general you will need to purchase at least 10 hectares of land (25 acres) and plant trees.

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This program provides a series of renewable visas followed by a permanent visa and residency. Ask your attorney about current law and availability.

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Panama Private Income Retiree Visa and 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.

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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.

Terms of this visa opportunity will change with time so be sure to ask your attorney.

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Residency for a Person of Means in Panama

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.

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This investment leads in one year to renewal and a permanent visa with the right to a cedula or identity card.

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Five years after receiving permanent Panama residency the “person of means” is eligible for citizenship and a passport.

Ask your lawyer.

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Love and a Panamanian Visa

The last means is to marry a Panamanian national or foreigner who has already gained residency.

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You will still need a lawyer and pay money for the paperwork but this can 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.

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Go to the Fair

The most recent addition to getting residency in Panama is the immigration fair.

You do not need an attorney and can obtain a work permit and ten year visa the same day.

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However, this is not permanent residency.

If you want to work in Panama now the residency fair may be a better deal.

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If you are simply retiring here and have a sufficient pension the pensionado visa is probably the route to follow.

  In any case this is a non-professional

update of immigration laws.

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If you are serious about this contact us at www.RobertGirga.com for a referral to a competent immigration attorney.

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