Residence permit from friendly countries

PERMANENT RESIDENCE IN THE QUALITY OF NATIONAL FOREIGNERS FROM SPECIFIC COUNTRIES WHO MAINTAIN FRIENDLY, PROFESSIONAL, ECONOMIC AND INVESTMENT RELATIONS WITH THE REPUBLIC OF PANAMA- Executive Decree 416 of June 13, 2012, modified by Executive Decree 197 of May 7, 2021 and Executive Decree 197 of May 7, 2021 Executive 226 of July 20, 2021.

They can apply to this Permanent Residence as National Foreigners of specific countries that maintain friendly, professional, economic and investment relationships with the Republic of Panama, with its dependents, for the development of economic activities that allow them an adequate standard of living.

This permit is currently granted for two (2) years of Provisional Residence and then upon renewal, permanent residence is obtained.

The last modification to this migratory category was made by Executive Decree No. 226 of July 20, 2021, which changes the requirements regarding economic or professional activity and gives the following options:

1. Employment contract: Provide employment letter signed by the employer, certificate from the public registry of the company and notice of operation. For the approval of the Residence Permit, the applicant and his contractor have to process before the Ministry of Labor and Labor Development the authorization to work in the national territory.

2. For investment in real estate for the minimum amount of US $ 200,000.00 in a personal capacity or by a company in which he is a shareholder or a Private Interest Foundation of which he is the Founder and final beneficiary. The property can be financed by a local bank.

3. Fixed-term deposit for the minimum amount of US $ 200,000 over three years and free of encumbrances. The fixed term can be in a personal capacity or in the name of a company in which the applicant is a shareholder or a Private Interest Foundation of which he is the Founder and final beneficiary.

The list of friendly countries is made up of fifty nations, including Argentina, Chile, Costa Rica, Mexico, Uruguay, Spain, Italy, the United States, Canada, the United Kingdom, and recently Peru.