Panama’s Friendly Nations Visa offers an affordable and efficient route to permanent residency for citizens of selected countries. This guide covers eligibility, benefits, and strategies for business owners and remote workers.
1. Introduction
Panama has emerged as a leading destination for entrepreneurs and location-independent professionals due to its territorial tax system, stable economy, and straightforward residency process.
2. Why Panama?
2.1 Tax Benefits
Only income earned within Panama is taxable; foreign-sourced income is exempt.
2.2 Business Gateway
Access to Latin American markets and strong trade ties with the U.S.
2.3 Lifestyle Appeal
Affordable cost of living, tropical climate, and growing expatriate community.
3. 2025 Requirements
- Citizenship from one of Panama’s “friendly nations.”
- Demonstrate professional or economic ties to Panama (business ownership or employment contract).
- Maintain a local bank account with a minimum balance.
4. Application Process
- Open a Panamanian bank account.
- Establish a company or secure local employment.
- Submit application through the immigration authority.
5. Strategic Tips
- Company Formation: Many applicants choose to register a small company to meet eligibility.
- Banking: Work with reputable local banks familiar with foreign applicants.
- Long-Term Planning: After five years, residents may apply for citizenship.
FAQ
Q1: Is Panama residency permanent?
A1: Yes, after the initial temporary period.
Q2: How long does processing take?
A2: Typically 4–8 months.
Q3: Does Panama require annual stays?
A3: Yes, residents should enter at least once every two years.
This article is informational only and not legal advice. Applicants should consult licensed immigration professionals.