Panama Residency Laws

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Written by Matt   
Thursday, 02 March 2006 10:41
In Panama you can gain legal residency in several different ways. Panama's laws are perhaps the most friendly in all of Central and Latin America because of the country's interest in attracting retirees and investors.

Here are a few types of residency visas that you can obtain:

- Export Processing Zone Investor: this visa requires that you invest $250,000 or more in Fort Davis or one of the country's other export processing zones.

- Small Investor: this visa requires you to invest $10,000 or more in a small business in which you are an officer or management. You must also employ at least three Panamanians in this business which must be considered to be ‘socially beneficial' by the government.

- Retiree/Pensioner: this visa requires you to prove that you are receiving a retirement or disability pension from abroad, and this amount must be $500 or more per month. An additional $100 per month is required for each dependant.

- General Investor: this visa requires you to invest $100,000 or more in a business which must be considered to be ‘socially beneficial' by the government.

- Agro-forestry Investor: this visa requires you to invest $40,000 or more in a reforestation project somewhere throughout the country.

- Retired Investor: this visa requires you to be retired and have proof of deposit in a Panama bank which shows an income of $750 per month or more.

- Colon Free Zone Executive: this visa requires you to have an executive position with any firm doing business in the Colon Free Zone.

- City of Knowledge: this visa requires you to be a professor, student or administrator at an institution who has affiliation with the City of Knowledge.

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Last Updated on Monday, 11 August 2008 21:44