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La Firma Áreas de Prácticas Nuestro Personal Panamá Contáctenos
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Decree Law No. 3 of February 22, 2008 has created a new immigration system in the Republic of Panama, seeking greater speed and certainty in the visa procedures with the aim of foreigners to legalize their immigration status.

The Panamanian government's goal is to promote foreign investment in Panama, which benefits the local environment or local economy in Panama. These we refer to the temporary resident visa or permanent residency, work permits and in some cases citizenship and / or second passport.

In Perez-Carrera & Co., we have a vast experience in this branch of law continuously serving its international clients. Our firm offers the necessary assistance from establishing the proper structure of business immigration, for the operation and establishment in the country of its executives and employees and in obtaining the various Visas (Marrakech Agreement or work visa, investor Visa, retirement and pension, among others). Assist the client in the preparation of documentation required to obtain their status as temporary visitors or permanent residence in the country and their respective work permit.

IMMIGRATION SERVICES

The Panamanian Government has created selected residency programs in order to promote investment and tourisms in the country. This selected residency programs provides several benefits for retirees, investors who are seeking for permanent residency, citizenship and tax benefits.
This program has also encouraged multinational corporations to establish their main offices or a branch in our country due to the tax benefits.

If you are planning to relocate to Panama temporarily or emigrate permanently, our lawyers will assess and provide all the legal assistance in immigration matters (work permits, residency, citizenship), including the preparation and processing of applications for foreigners wishing to become residents of the Republic of Panama as investors or pensioners and executives or employees of international companies that require work permits.  
All these visas have common requirements established in Article 28 of the Decree Law that must be fulfilled which are:

Therefore some of the different types of visas are:

Pensioned or Retiree Visa
This program allows foreigners to obtain legal permanent residency in Panama under the condition that they are retired or pensioned. According to the Immigration Department of Panama, there is no minimum age required to qualify.

The applicants' retirement income (or pension income) must be at least a lifetime US$1,000 per month plus US$250.00 per additional dependent.  If the applicant can provide documentation showing that he or she owns a real estate property in their personal name for over US$100,000.00, the minimum pension income required starts from US$750.00 per month.

  1. In addition to the basic requirements established in Article 28 of the Decree Law (except for the numerals 2 & 4), the applicant must submit the following documents:

Documentation of proof of Pension from either of the following:

a. If Pension is from a Government Institution or Social Security: Client must provide certification from the respective Government institution that pays the applicant's retirement or pension income, certifying that the person receives a "pension" in the amount of at least US$1,000 per month FOR LIFE. This document must be 'original', 'official', 'updated' and 'authenticated' (please check explanation of these terms below).

b. If the Pension is from a Private Company: Client must provide a letter on company letterhead from the company that pays the applicant's retirement or pension income, signed by a representative of the company, with complete contact information for verification purposes, certifying that the person receives a "pension for life" (the Pension Letter must use the words "pension for life") in the amount of at least US$1,000 per month. This document must 'original', 'official', 'updated' and 'authenticated' (please check explanation below of these terms).

Economic Solvency (person of means)

This visa offers the applicant to obtain a Panamanian residency, and after five (5) years of having obtained the permanent residency, you will have the option of applying for Panamanian Citizenship.
This visa is designed for those who wish to live in Panama, not being employed or starting a business, but living of their own means.
There are three (3) options available for this visa:

  1. The Investment of a minimum of US$300,000 for three (3) years in a “Certificate of deposit" or "CD" at any licensed bank in Panama.

  2. Invest a minimum of US$300,000 in a titled property in the Republic of Panama to your personal name or in the name of a private interest foundation.

  3. Invest a minimum of US$300,000 combined through a three (3) year time deposit (or "certificate of deposit" or "CD") at any licensed bank in Panama, Plus an investment in a  property in the Republic of Panama which has to be registered or title under your  personal name or in the name of the foundation in which you are the

Note: the income received by the interest of the CD is not taxed by the Panamanian Authorities.

Reforestation Investor Visa

Foreigners who invest in direct form in the activities of reforestation as natural persons or through a corporation. The investment requirement is a minimum of Eighty Thousand Dollars US$80.000.00, to apply for this immigrant visa.

The foreign applicant must prove to the National Directorate of Immigration and Naturalization the source of funds that he has effectively invested in the plantation of forest species for commercial, environmental, tourist aims or other.

For Requirements Please contact us.

Macro Business Investor Visa

Foreigners who invest directly in a Panamanian company, that is constituted with a minimum share capital of One Hundred Sixty Thousand Dollars US$160,000, will be eligible to obtain a Panamanian residency with an investor's status qualifying as a macro enterprise investor.  The investment must increase in Two Thousand Dollars US$2,000.00 for each additional dependent.

The foreigner must be the shareholder and Director / Officer of the company, which in addition, must have an initial list of Five (5) Panamanian workers, working fulltime and earning a wage not inferior than the minimum established by Law for each region of the country, specifying the position or activity that each one performs.

The company must register its employees in the Social Security System, thus complying with the legal obligations in respect to the social issues. It is important that the foreign investor considers that at the time of requesting the visa extension, after exceeding the provisional permission that is issued with Immigrant's Visa, he/she will have to prove that it has fulfilled the commitment to contract Panamanian personnel and to be up-to-date in the payment of the obligations towards the Social Security.

For Requirements Please contact us.

Special Temporary Visas

1. Executives of Multinational Corporations

This visa is designed for foreigners considered as trusted workers, technicians or coaching in branch offices of Multinational Companies, whose income comes from a source abroad may apply for this permit, under Law 41 of 2007.
This visa will be granted for up to six (6) years, and may be extended yearly.

For Requirements Please contact us.

2. Executives of International Companies that carry out their Business abroad:

This Visa is designed for persons / employees that have been appointed as an executive of an international company that are properly registered in a foreign country and that have a branch or Affiliate Company in Panama.
This visa is granted for a two (2) year period and can be extended every two (2) years up to a maximum of six (6) months.

For Requirements Please contact us.

3. FOREIGN PERSONEL HIRED AS EXECUTIVES FOR A BUSINESS IN THE FREE ZONE OF COLON

Foreigners entering Panama having executive positions, management, or specialized technicians in businesses authorized to operate in the Free Zone of Colon, with a salary no less than Two Thousand dollars ($2,000) monthly will be able to request the Panama Temporary Residency Visa.

For Requirements Please contact us.

CITY OF KNOWLEDGE
AS RESEARCHER OF THE PANAMA CITY OF KNOWLEDGE FOUNDATION


In addition to the basic requirements established in Article 28 of the Decree Law (except for the numerals 2 & 4), the applicant must submit the following documents:

1. Certification from the Panama City of Knowledge Foundation by its Executive Director of the existence of the applicant's business, the work that the foreigner carries out, and the term of rental in Panama;

  1. Letter of responsibility from the business where the activities of the researcher are occurring and the earned salary;

  2. Proof of affiliation to the CSS and copy of the social security card.


AS EDUCATOR IN THE PANAMA CITY OF KNOWLEDGE FOUNDATION

In addition to the basic requirements established in Article 28 of the Decree Law
(except for the numerals 2 & 4), the applicant should contribute the following documents:

1. Certification or documentation showing educational purpose from the country of origin and accrediting the educational conditions;
2. Certification from the Panama City of Knowledge by its Executive Director, verifying the existence of the school, the work that the foreigner carries out, and the term of their stay in Panama;
3. Letter of responsibility from the business where the activities of the professor are evident and the salary that will be earned;
4. Proof of affiliation with the CSS and copy of the social security card.

AS BUSINESSMAN OR EXECUTIVE OF THE PANAMA CITY OF KNOWLEDGE FOUNDATION

In addition to the basic requirements established in Article 28 of the Decree Law (except for the numerals 2 & 4), the applicant must submit the following documents:

1. Certification from the Panama City of Knowledge by its Executive Director, verifying the existence of the business, the work that the foreigner carries out, and the term of their stay in Panama;
2. Letter of responsibility by the parent company that certifies the activity that the foreigner will carry out as the executive in the business within the City of Knowledge, that they will exercise no other activity inside Panama, and the term of their stay in Panama;
3. Proof of affiliation to the CSS and copy of the social security card.

AS TECHNICIAN OF THE PANAMA CITY OF KNOWLEDGE FOUNDATION

In addition to the basic requirements established in Article 28 of the Decree Law
(except for the numerals 2 & 4), the applicant must submit the following documents:

1. Letter of responsibility of the business, as well as, the salary to be earned;
2. Certification from the Panama City of Knowledge by its Executive Director, verifying the existence of the business, the work that the foreigner carries out, and the term of their stay in Panama;
3. Work permit and copy of their card;
4. Proof of affiliation to the CSS and copy of the social security card.

AS STUDENT OF THE PANAMA CITY OF KNOWLEDGE FOUNDATION

In addition to the basic requirements established in Article 28 of the Decree Law (except for the numerals 2 & 4), the applicant must submit the following documents:

1. Original certification authenticatied by the Panama City of Knowledge Foundation verifying the existence of the educational center.
2. Certification by the education center that the applicant is a full time student in good standing taking approved courses.
To request an extension, the applicant must submit:
1. Certification by the education center that the applicant is a regular full time student and has passed the previous year courses.
The study credits that show they are a regular students and that they have passed their previous year courses.


TAX INCENTIVE AREA - PANAMA PACIFIC ECONOMIC AREA

Perez – Carrera & Co., provides a professional and competent immigration attorneys to assist investors to acquire residency through a Panama Tax Free Processing Zone Investor Visa (law 41 of 2004 – Panama Pacifico Economic Area).
Panama immigration officials welcome foreign investors who can generate business from Panama across the globe, taking in consideration the fact that all Panama Tax Free Processing Zones, including the Colon Free Trade Zone, therefore, investors who qualify for this type of Visa are able to obtain legal residency by just meeting he condition of :

  1. they must rent an office or building or plot of land (that they will develop) through a period of 10 - 20 concession for the purpose of operating a business from Panama that exports products or services.

Resident Visa for aliens married to a Panamanian Citizen

This visa is granted to those foreigners that are married to a Panamanian citizen and live together, stable and continuously with their spouse.
The marriage of a foreigner to a Panamanian Citizen does not by itself provide the right to a Panamanian residence.  The National Service of Immigration for health, morality, public safety, national economy may deny the entry into the country or residence to a foreigner married to a Panamanian Citizen if they esteem appropriate.
 
The person that by means of a false marriage tries to obtain a migratory status can be subject of criminal actions, furthermore, the request will be denied or the granted permit will be revoked, and the immediate departure of the country by the foreigner will be requested.
For Requirements Please contact us.

Resident Visa as Resident's Relative Dependent Status

This visa may be applied by foreigners who dependants of a Two (2) year provisional resident of Panama, Permanent Resident or a Citizen of the Republic of Panama who are either their spouse, children under eighteen (18) years old, family members with an incapacity or Parents dependents of the resident. 
Dependents over eighteen (18) and under twenty five (25) years old must be currently enrolled in a local university and proof that they are financially dependent of the resident or citizen.
For Requirements Please contact us.

Temporary Residency as Independent Retired (Immediate Passport Visa)

This Visa may be applied by any Foreigner who enters into the country of Panama, and establishes a Time Deposit that earns a minimum monthly income of Eight Hundred and Fifty U.S. Dollars (US$850.00), that proceed exclusively from the interest of a five (5) year time deposit at "Banco Nacional de Panama" (National Bank of Panama) free of liens.
The petitioner can bring his (her) dependents into the country (Are considered as such, the parents, spouse or children under legal age or those who are of legal age but under 25 years, single and without children that are attending regular studies, on a Study Center duly recognized by the Ministry of Education.

The retired petitioner can invest money at the Panamanian Territory, previous to the compliance of the requirements, but will not be able to work within the territory.

For Requirements Please contact us.

 
 
 
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