Modifications to the Migratory Category “Friendly Nations”
Panama has established some changes in the subcategory of "permanent resident" for foreigners native to countries that maintain friendly, professional, economic and investment relations with the Republic of Panama, better known as the Friendly Nations visa. This visa has been one of the most popular with investors in recent years, and with good reason. In general terms, it is a visa that gives nationals of certain countries the opportunity to apply for this visa that carries a permanent residence permit in Panama. With the recent adjustments, it is intended to broaden the range of potential applicants. Under the new conditions, you can apply to this visa under two modalities, labor reasons or under the purchase of a property.
Next, the necessary requirements to comply with both modalities:
1. Property Purchase:
Certificate of Public Registry that shows:
The ownership of the property in favor of the applicant
Property value greater than US $ 200,000.00
2. Labor Reasons:
Present a letter of employment from the contracting company confirming:
iii. The Company assumes repatriation charges
Certificate of Public Registry of the Company
Company Operation Notice
Commitment to process the applicant's work permit
It is important to note that the purchase of real estate must be personal; however, the purchase is allowed to be financed through a bank with a general license in Panama.