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Wednesday, August 20 2014 @ 04:47 AM EDT

New Opportunity To Obtain Permanent Residency in Panama

Immigration Issues After the latest modifications in immigration laws on 2008, the requirements to demonstrate economic solvency had become much more strict, reason for which many foreigners couldn’t apply for a Permanent Residence Permit. With Executive Decree No. 416 of 12 June 2012, issued by the Executive Branch, now we have a new sub-category of Permanent Residence, for foreigners from a list of 22 countries with which Panama maintains a friendly relationship. By only demonstrating the economic or professional activity to be performed by the foreigner, (which will not be against current law regulations regarding retail commerce and liberal professions reserved for Panamanians only), as well as a proof of economic solvency which can consist of a certification of a bank account in Panama with a balance of at least US$5,000.00; the citizens of the following 22 countries can apply for a Permanent Residence Permit: Sweden, Chile, Uruguay, Singapore, Switzerland, Check Republic, Norway, Holland, United States of America, Spain, Germany, Argentina, Australia, Austria, Brazil, Belgium, Canada, Slovakia, France, Finland, United Kingdom of Great Britain and Northern Ireland, and Japan.

The foreigner whose nationality is included in the list above, can also include as dependents: his/her spouse, children under 18, relatives with disability and parents who depend on them. In addition to the above-mentioned requirements, the applicant must provide other documents that are common for the residence permits, such as: photographs, copy of identification document, proof of kinship, police record/criminal background verification, health certificate, checks in favor of the National Treasury and the National Immigration Service, among others.

For more information, please contact us: Lic Gabriel Almanza, email galmanza@aa-panama.com, telephone in Panama (507) 264-5502, fax (507) 264-8751, or visit our website.

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New Opportunity To Obtain Permanent Residency in Panama | 3 comments | Create New Account
The following comments are owned by whomever posted them. This site is not responsible for what they say.
New Opportunity To Obtain Permanent Residency in Panama
Authored by: susangg on Wednesday, August 01 2012 @ 09:05 PM EDT

Is there any corroboration from any official source that $5000 in a Panamanian bank account is required to obtain this visa, and if so, whether those funds must be frozen during the time that the visa is in effect?

New Opportunity To Obtain Permanent Residency in Panama
Authored by: Anonymous on Friday, October 05 2012 @ 03:42 PM EDT

Do you know what is meant by "demonstrating the economic or professional activity to be performed by the foreigner"?
What do you to demonstrate it?
Does it have to be work that is paid by someone in Panama?
Can it be a internet business that is conducted from a Panama address but most, if not all its revenue, comes from non-Panama sources?

Thanks.