Panama: Residency by investment in a culture shaped by globalisation
A small country with so much to offer, surrounded by oceans and located in Central America. Undoubtedly, Panama has a high level of interconnection for business and this is demonstrated by its increases in investments for the industry.
That’s why we are bringing you to Panama, not only striking due to its globalised culture, but also by the possibility to make investments with benefits.
Before introducing you to all the information related to Panama, if you are considering options for citizenship or residency by investment programs, contact us! Our specialised team can help you with all your concerns. Click here.
This beautiful country, surrounded by the Atlantic Ocean and the Pacific Ocean, offers certain competitive advantages when investing in it.
Some examples include: The nation uses the US dollar as official currency, territorial Taxation, connectivity for new business opportunities, international Banking Center, investment grade and permanent economic growth.
What are its featured benefits?
Its outstanding benefits are:
- Path to citizenship
- Minimal physical presence requirements
- Short processing time
- Lower taxes
-Lower cost of living
-Safety and security
Requirements to qualify:
The Qualified Investor Residency Visa offers three qualifying investment options, all of which have a mandatory holding period of five years:
An investment of $300,000 in real estate in the Republic of Panama, free of any liens. From 15th of October of 2022, the minimum investment amount will rise to $500,000.
An investment of $500,000 in securities on the Panama Stock Market, through any qualified and licensed Panamanian securities brokerage firm.
A deposit of $750,000 with a licensed bank in Panama. The interest income is tax free in Panama.
$2,000 additional investment for each dependent.
$5,000 National Migration Service fee for the main applicant and $1,000 per dependent.
$5,000 National Treasury deposit for the main applicant and $1,000 per dependent.
Path to citizenship:
The program issues applicants a permanent residency permit, valid for 5 years. The applicant must return to Panama at least once every two years to maintain a “presence in and connection to” the country. After 5 years, the applicant may sell the investments.
After five years of continued legal residence in Panama, investors are eligible to apply for citizenship.
The process of naturalisation necessitates the involvement of a variety of public organs, such as the Ministry of Government and Justice, the Ministry of Public Services, the Electoral Tribunal, the Government Office, and the Presidency. The Panamanian President ultimately approves and signs all applications for naturalisation. Prospective citizens should consult legal specialists to ensure all appropriate steps are followed.
The Panama Electoral Tribunal conduct an interview with the applicant to test his command of Spanish and knowledge of Panama’s history, geography, and civil rights. At this stage, a final application will be made to the Presidency.
Panama does not technically recognise dual citizenship but does not in practice monitor whether its new citizens renounce other nationalities.
Citizens of several Latin American countries have a fast track option for citizenship through reciprocity:
1 year: Colombia, El Salvador
2 years: Argentina, Ecuador, Spain, Honduras, México, Nicaragua, Perú
3 years: Uruguay
So, if you are interested in finding out more about Panama residency by investment program and its opportunities to develop business, contact us today! Below this article you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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