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Wednesday, April 16 2014 @ 11:53 PM EDT

Permanent Residency for Nationals of Countries Friendly to Panama

Immigration IssuesBy DON WINNER for Panama-Guide.com - I received the following from Lic. Ricardo Faraudo of the Panama Relocation Attorneys. He wrote up this explanation of the new Permanent Resident Visa category for those from "friendly" countries;

Permanent Residency for Nationals of Countries Friendly to Panama - This permanent residency option allows foreigners from, one of the countries listed below, to obtain legal permanent residency in Panama, under the condition that they are going to practice economic or professional activities of any type in the Republic of Panama.

The nationals of the following countries will be allowed to apply for a permanent residency under the current residency option: Germany, Argentina, Australia, Austria, Brazil, Belgium, Canada, Spain, United States, Slovakia, France, Finland, The Kingdom of the Netherlands (The Netherlands, Aruba, Curaçao & Sint Maarten), Ireland, Japan, Norway, Czech Republic, Switzerland, Singapore, Uruguay, Chile and Sweden. (more)

Procedures for Applying for Residency:

a) A visit to Panama is required for your Passport Registration at the Immigration Office. You will also sign the Special Power of Attorney for our law firm to handle your immigration paperwork and to start the processing of the Permanent Visa. (For the visit to immigration you cannot wear shorts, sandals or sleeveless shirts)

b) Provide all required documents.

c) Our law firm submits your application for your Permanent Visa.

d) After the application is submitted, within approximately six (6) months, the Immigration Department will issue your permanent resident card.

a. Once the application is submitted we will need to take you personally to immigration to obtain a one (1) year temporary ID for the duration of the process.

i. In addition you will also need to obtain a Multiple Entry and Exit Permit to come in and out of the country during the process. Failure to do so would incur you in a US$2,000.00 fine. This Multiple entry and Exit permit is billed separately.

ii. Once you have obtained a one (1) year temporary ID you will no longer be able to drive in Panama with a foreign license. Thus you will need to obtain a Panamanian License at www.setracen.com.pa. For this process you will need to take the following documents:

1. An authenticated Copy of your Current Valid License made by the Consulate of Issuance of your License in Panama. After obtaining said authentication you will need to obtain an authentication from the Ministry of Foreign Affairs.

2. Local Laboratory Results from Blood Type and Glucose Exam.

b. If you will not stay in Panama, you can leave after you have obtained the Multiple Entry and Exit Permit. Once the final resolution is issued we will inform you so you can plan your second trip in order to obtain the Permanent Residency ID.

Required Documents (for Immigration processing):

a) Photocopy of complete valid passport of the applicant (and dependents - if applicable), including the picture page (that shows the picture, name, date of birth, passport number, place of issue, etc.), and all other pages. This should be provided after the Passport Registration is registered at the Immigration Office in Panama. Please note that the passport must be valid for at least 6 months from the date of the immigration application.

b) Six (6) passport sized photographs of the applicant (and dependents - if applicable).

c) Certificate of Good Health, issued by a licensed Panamanian hospital or clinic, signed by a registered, licensed physician, indicating that the applicant (and dependents - if applicable) has no contagious diseases and is in good mental and physical condition.

d) Proof of Financial Solvency:

a. Bank Reference Letter: showing an amount of at least four mid digits (US$5,000.00 plus) in the bank account. If the Bank reference letter is issued outside of Panama, then said letter must be authenticated by Panamanian Consulate in the country of its issuance or duly apostilled in the country of its issuance of said police report.

b. Bank Account Statement: This bank statement cannot be more than one (1) month old at the moment of application and it must show at least an average monthly balance of US$5,000.00 or more in the bank account. If Bank Account Statement is issued outside of Panama, then said letter must be authenticated by Panamanian Consulate in the country of its issuance or duly apostilled in the country of its issuance of said police report.

e) Documentation showing the reason for requiring a permanent residency in Panama based on economic activity or profession.

• Through a Panamanian Corporation:

a) Copy of Public Registry Certificate showing that the applicant is President of a Panamanian Corporation

b) Copies of the Shares of Same Corporation showing that the applicant is a shareholder of Said Corporation

c) Operation Permit of Same Corporation displaying the activity that Said Corporation will undergo here in Panama.

• Through an Operative Company Offering a Job:

a) A Promise of Work Contract

b) A Letter from Company Offering Work where they make reference to the Job Title and brief job description.

f) Police record from the country of last two (2) years of residency, for main applicant and any dependent over 18 years old. The police report must contain the following premises in order to have validity at moment of application:

a. This police report cannot be older than six (6) months.

b. If the applicant leaves Panama before the application is submitted, but after the police report has been issued, then said Police Report loses validity for immigration purposes.

c. The Police Report must be authenticated by Panamanian Consulate in the country of its issuance or duly apostilled in the country of its issuance of said police report.

g) Documentation Needed for proof of Dependents:

a. For Spouses: Marriage Certificate

b. For Children: Birth Certificate. For Children between 18 – 25 years of will also need to proof that they are enrolled, full time, in a University in the Republic of Panama.

c. For Parents: Applicants Birth Certificate (for children under 18 years of age - if applicable). These documents must be authenticated by Panamanian Consulate in the country of its issuance or duly apostilled in the country of its issuance of said police report. Note: For these documents to have validity at moment of application they must be authenticated by Panamanian Consulate in the country of its issuance or duly apostilled in the country of its issuance of said police report.

h) Copy of Utility Bill showing address where you stay while in Panama. For the Utility Bill the validity can be up to three (3) months from its issuance at the moment of application.

Contact Information: You can contact Lic. Ricardo Faraudo directly via email: ricardofaraudo@prapanama.com

Copyright 2012 by Don Winner for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.

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Permanent Residency for Nationals of Countries Friendly to Panama | 3 comments | Create New Account
The following comments are owned by whomever posted them. This site is not responsible for what they say.
Permanent Residency for Nationals of Countries Friendly to Panama
Authored by: D.T. on Wednesday, June 27 2012 @ 05:55 PM EDT

super ripoff in comparison with the former laws.

Permanent Residency for Nationals of Countries Friendly to Panama
Authored by: Anonymous on Wednesday, June 27 2012 @ 08:23 PM EDT

WOW within approximately six (6) months LAST I HEARD IT WAS 3 MONTHS TO APPROVE OR SAY NO WAY IF NOTHING THEN IT'S APPROVED..... TWO K.,.. O BOY.. THANKS BUT NO THANKS..

Permanent Residency for Nationals of Countries Friendly to Panama
Authored by: Anonymous on Friday, June 29 2012 @ 07:30 PM EDT

Does anyone know why England (United Kingdom) is not on the list of countries. Are we Unfriendly ?
Thanks
Tony