Panama Best Retirement Visa In The World
Panama
Capital City: Panama City
Panama Best Retirement Visa in the World
Panama famous for the Panama Channel and its strategic position in the Americas claim to have the best retirement visa in the world. The country is a melting pot, a place where many cultures merge to form a unique identity. In interacting, Panamanian people are known to be hospitable and investment friendly towards foreigners, offering foreign investors an enabling environment with competitive conditions for investment. These include low taxes and easy resident Visas.
Not only is Panama ideally suited for retirement but for business as well; it being strategically located between Central and South America making a global center for international banking. This is significant seaborne trade, due to the Panama Canal connection of the Atlantic and Pacific Ocean. This offers businessmen access to the global commercial goods market from the US to East Asia and Europe.
Invest in Panama Real Estate in 2021 and Apply for a Qualified Investor Visa
The Qualified Investor Visa was released in October 2020 and it allows for the possibility of acquiring permanent residency in only 30 days and you can apply remotely. NO need for visiting. This represents a unique opportunity for citizens of those countries that are not included in the Friendly Nations List.
Similar to a Golden Investor Visa like in Portugal and Spain. Panama offers a direct path to permanent residency by investing in real estate and other vehicles.
The Friendly Nations Visa is a type of Visa that also grants permanent residence but it is only available to citizens of the countries that are considered to have friendly relations with Panama. These countries include Argentina, Uruguay, the US and the European Nations, among others.
Before September 2020, applicants from other territories not included in the Friendly Nations’List, would have to apply for a temporary residency first (through any of the available Visas) and only after two years, depending on the case, they would be allowed to apply for a permanent resident status.
Thanks to the Panamanian version of the Golden Investor, i.e.the Qualified Investor Program; Citizens of Russia, China and the Middle East have a brand new opportunity. They can acquire permanent residency in only a few months by making an investment through any of the following options:
- Real Estate
- Financial Vehicles in the Panamanian Stock Market
- Deposit in Local Bank.
Today, the real estate investment is the least expensive one with a minimum investment requirement of USD 300,000, whilst financial vehicles and Bank deposits require USD500,000 and USD750,000 respectively.
The possibility of acquiring permanent residency requires a minimum investment of USD 300,000 but this will increase to USD 500,000 in two years’ time. The better part is that this program allows for the acquisition of a work-in-progress development. Thus, you can acquire property currently under construction. The Panama Government requires that you deposit the USD 300,000.00 into a trust in order to get residency but you can arrange with us WhinChester Corporate & Immigration Services PowerHouse about the payment method and terms. As long as the funds are deposited and you are eligible for residency, you can pay the developer according to your agreed terms.
We at WhinChester Corporate & Immigration Services PowerHouse will handle everything. Let us know your current immigration requirements and what you are hoping to achieve. You will get an instant acknowledgment. The fields marked with an * are mandatory.
Panama Qualified Investor
Program
The Qualified Investor Program was released last year in October under decree number 722. This program offers a fast-track process towards permanent residency with the possibility of acquiring citizenship after five years of permanently living in Panama (with a permanent resident status). What is particularly interesting about this program is that it allow for the possibility of applying from overseas through a POA (Power of Attorney). This document must be apostilled or authenticated in the foreign Panama Consulate where it was signed.
The Applicants who started their residency applications during 2020, through the Self Economic Visa, have the option of transferring this application to a Qualified Investor Visa. Naturally, the fees would be updated as well but the applicant will have the chance to acquire permanent residency much sooner.
We at WhinChester Corporate & Immigration Services PowerHouse will handle everything. Let us know your current immigration requirement and what you are hoping to achieve. You will get an instant acknowledgment. The fields marked with an * are mandatory.
Investor Qualifications
This is the first time that Panama offers immediate permanent residency to investors (the previous Friendly Nations Visa does not require an investment and the Business Investor Visa and Reforestation Visa do not grant permanent residency). There are three possible investment options that allow for residency application. One of the conditions is that the investment must be made in the name of the main applicant or under the investor’s Panama Company or foundation.
However, if you chose to apply through one of these entities, you must be the sole beneficial owner. The funds used for the investment must come from a Bank outside of Panama.
Qualified Investor Visa Costs
Government fees for the Qualified Investor’s Visa:
- USD 5,000.00 – Immigration fee to the Panama National Treasury.
USD 5,000.00 – Repatriation Deposit to the Panama Immigration Service.
- USD 1,000.00 – This is an addition to the above and payable for each dependent.
- Legal fees – Negotiable
Required Documents
In order to apply for a Qualified Investor Visa the applicant will have to submit:
- Passport Copy – all pages.
- Original Police Record from Country of Residency authenticated by a Panamanian Consul or with a Hague apostille.
- Original Marriage Certificate (if applying with Spouse must be authenticated by Panamanian Consul abroad or have a Hague Apostille.
- Birth Certificate for main applicant and every dependent.
- Three passport size photos for every applicant (Main + Dependent).
- Certificate issued by a Panamanian Medical Doctor stating that the applicant has no contagious disease and is in perfectly good health. Certificate required for all dependents and if issued abroad must be authenticated or apostille.
The Panama Qualified Investor Visa is a perfectly good choice as it offers the possibility of a high-yield investment plus permanent residency similar to a Golden Visa Requirement. If you are interested in real estate investment this is the one for you.
We at WhinChester Corporate & Immigration Services PowerHouse will handle everything. Let us know your current immigration services requirement and what you are hoping to achieve. You will get an instant acknowledgment. The fields marked with an * are mandatory.