In Panama there is a modality to obtain the visa of residence in Panama which is preferred by foreigners due to its ease of obtaining and benefits it offers, we refer to the treaty of friendly countries. This is a special model that favors hundreds of people who wish to do business in this Central American country, the cradle of international trade.
In today's article we will discuss the ways in which you can access this visa, taking into account the procedures that you must do in the company of your lawyer in Panama, the characteristics of the visa and the particular benefits that you will obtain.
Treaty of friendly countries
There is a list of friendly countries with which Panama has an agreement, where foreign citizens are allowed to carry out the procedures for their residence and generate economic and professional ties in this nation.
What are the novelties of this procedure?
Some modifications have recently been made to the application process. visa for friendly countries Panama. Some of the most prominent are:
– Now the residence permit is granted in two stages, the first gives a provisional guarantee valid for two years, at the end of the period the permanent one is given.
– There is no longer the option of requesting this residence permit for the reason of being the owner of shares of a Panamanian company.
– It may be requested for work reasons when being hired by a Panamanian company or having a home in Panama.
In the latter case, the following must be taken into account:
Residence visa by the treaty of friendly countries – work reasons
Submit the following documents:
– Letter of employment from the company that is contracting your services specifying the position, salary and agreeing to share the repatriation expenses (if applicable).
– Certificate of the Public Registry of Panama of the legality of the company within the Panamanian territory.
– Notice of Employer Operations.
These documents must be provided to the Ministry of Labor and Social Development, preferably with the company of a lawyer who represents the interested parties and advises them on all the corresponding procedures.
Residence visa by the treaty of friendly countries – investment in real estate
Refering to residence in Panama Due to investment in real estate within the territory of Panama, it is necessary that you present the Certificate of the Public Registry of Panama proving that you have under your personal or business property or through a foundation, real estate with a minimum value of 200,000 dollars, which can also be financed with a local bank.
common requirements
Regardless of the type of residence you apply for, it is important that you present the following documents:
– Apostilled and authenticated copy of the passport.
– Criminal record certificate from your country of origin or previous residence valid for six months prior to the application.
– Certificate of good health issued by the entities of Panama.
– Payment of 250 dollars in favor of the National Treasury.
– Payment of 800 dollars to the National Immigration Service.
– Affidavit of personal history.
– Three passport size photographs.
– Letters indicating the reasons for the residence application.
On the other hand, if there are dependent people in your family nucleus, you must provide:
– Certificate of relationship with the person, whether it is a marriage or paternity record, among others.
– Letter in which the responsibility of the applicant towards his dependents is included.
What advantages does the friendly country visa offer?
In general terms, the treaty of friendly countries allows you to obtain the residence in Panama in an easier and faster way, since between Panama and the sovereign States present in the list it was agreed that the visa can be acquired more quickly and without the need to have a certain patrimony or other requirements that make the procedures they are cumbersome and annoying.
Likewise, by having residence in this country you will have access to the following benefits:
– Affordable cost of living: Panama is one of the countries with the best cost of living in the world, being much cheaper than in Europe or North American countries.
– Excellent health service: Panama is characterized for being one of the countries with the greatest technology and advances in medicine, offering all residents the possibility of accessing treatments at a lower cost than in other countries.
– Stable economy: Panama has its currency, the Balboa, whose value is dollarized, so market fluctuations are much less.
These are some of the benefits of accessing the residence in Panama through the treaty of friendly countries and investment; To learn more, just call us at +507 835 5810 and +507 774 0126 or WhatsApp +507 6430 7051 so that we can answer all your questions.