It is a well known fact that Panama offers very diverse residency programs that result in permanent residency, and after several years they often make it possible to receive a passport. But for the beginning, it is important to understand that there are various immigration visas.
In recent years we saw several Presidential Decrees that allowed to create new types of immigration visas and permanent residency programs that aim at citizenship. One of the most important is a Friendly Nations Visa. Citizens from 47 countries that are considered as friendly can apply for residency and become holders of passport of Panama.
Besides, Panama is making attempts to invite foreign skilled professionals to fill the deficiency of workers in certain jobs. The outstanding growth that Panama has enjoyed the last decade created a lot of opportunities for local and international companies, but there are not always people there to fulfill the opening positions among locals.
And of course, big part of Panama immigration visas is for wealthy residents of other countries, who may invest in country’s economy. There are various way to do that, starting from creating companies or investing in real estate, down to reforestation and other eco-projects. These immigration visas are Tax Free Processing Zone Investor, Self Economic Visa, Agricultural Investor and Reforestation programs.
And finally, for those who would like to retire or quietly settle down in Panama, there is immigration visa program called Retiree/Pensioner for middle income foreigners. Such people have options to use a set pension, annuity or retirement fund. Although such immigration programs doesn’t make it possible to receive citizenship.
