Individuals obtaining any of the visas falling within this group shall be entitled to the following benefits:
1. Exemption from custom duties for the import of house hold goods or items for personal use, only once, up to the sum of Ten Thousand US Dollars (US$10,000.00)
2. Exemption from custom duties, every two (2) years, for the import of a motor vehicle for family or personal use
However they may not work within the national territory, except in the following cases:
1. When they render specialized services, not offered by Panamanians in the National Government or in its decentralized entities.
2. When they have invested in the capital of a business enterprise substantive sums of money and after obtaining an authorization from the Ministry of Labor.
3. When they are members of the Board of Directors of the Companies in which they have made investments
1. Pensioned tourist visa: This visa shall be granted to the foreigner retired or pensioned by foreign governments, international bodies or private entities, receiving a minimum monthly pension of five hundred dollars (US$500.00), plus an additional one hundred dollars (US$100.00) for each dependent, to his/her spouse and children under eighteen (18) years of age. The pensioned or retiree individual does not need to pay the Panamanian Government any type of deposit or immigration fees in connection with the obtainment of said visa.
The visa is granted for a one (1) year term, but it can be renewed indefinitely for one (1) year terms.
2. Visa for a retired income earner (retiree visa): The foreigner who has retired from his private activities and is able to make a time deposit in the National Bank of Panama generating a monthly interest (yield) of seven hundred and fifty dollars (US$750.00), may be able to obtain this type of visa. The interested party, his/her spouse and children under eighteen (18) years of age, shall be entitled to a special Panamanian passport.
The visa and the Panamanian passport are granted for a five (5) year term.
Professional fees for the pensioned tourist visa, and the retiree visa are about One thousand Five Hundred US Dollars (US$1,500.00) plus expenses Two Hundred and Fifty US Dollars (US$250.00).
IMMIGRANT VISAS
Individuals leaving their place of residence intending to establish permanently
within the Republic of Panama may obtain any of the immigrant visas, providing the established requisites.
The foreign client who applies for any of the immigrant visas shall consign a repatriation deposit, through a certified or management check, for the amount of Five Hundred US Dollars (US$500.00), in favour of the Ministry of Government and Justice. If the foreigner client maintains his immigrant status foir more than one (1) year, the repatriation deposit shall ingress to the National Treasury without any claim for refund. However, the following persons do not have to consign the repatriation deposit:
1. Immigrants married to Panamanians
2. Immigrants under twelve(12) years of age
1. Immigrant visas for investors: This visa is granted to those foreigners who wish to invest their own capital, not less than Two Hundred Thousand US Dollars (US$200,000.00), in the Republic of Panama, for the purpose of engaging in commercial, financial or industrial activities. The applicant’s spouse and children under age may obtain the same benefits as dependants, including the right to apply for the Panamanian citizenship.
If the visa is approved by the Department of Immigration and Naturalization, a provisional permanence permit, valid for one (1) year, is issued to the investor, conditioned to the commitment of employing at least three (3) Panamanians in his/her business.
This provisional permit can be renewed up to three consecutive times, provided that the commitment acquired is duly complied with. Upon the termination of the third renewal period, the Department of Immigration and Naturalization issues a permit of permanent residence with the right to a personal identity card (cédula).
2. Immigrant visa for forestry investors: This visa is granted to such foreigners who wish to invest their own capital, not less than Forty Thousand US Dollars (US$40,000.00), in forestry matters within the Republic of Panama. The applicant’s spouse and children under age may obtain the same benefits as dependents, including the right to apply for the Panamanian citizenship.
If the visa is approved by the Department of Immigration and Naturalization, a permit of provisional residence is issued to the investor. If he/she maintains the investment until the final cuts in the plantation or for ten (10) years, he/she will obtain the permanent residence with the right to a personal identity card (cédula).
3. Immigrant visa by means of resolution of the Ministry of Labor: This visa is granted to foreigners who shall render services within the Republic of Panama as executives, technicians or employees, provided the type of employment has not been reserved by Law exclusively to nationals. The interested party must enter with a tourist visa, be registered upon arrival, obtain an employment, request a change of immigration status, and obtain a labor permit from the Ministry of Labor.
The applicant’s spouse and children under age may obtain the same benefits as dependents, including the right to apply for the Panamanian citizenship.
If the visa is approved by the Department of Immigration and Naturalization, a provisional permit of permanence is issued to the employee for one (1) year, after which the permanent residence is granted to him/her with right to obtain the personal identity card (cédula).
4. Immigrant visa for the spouse of a Panamnian citizen: For the foreign client married to a Panamanian, the Immigration laws of the Republic of Panama offer the possibility of applying for an immigrant visa, which is granted for a provisional term of one (1) year, after which the permanent residence is granted to him/her with right to obtain the personal identity card (cédula).
After three (3) years of having obtained the permanent residence, the Constitution of the Republic of Panama grants the right to the foreigner married to a Panamanian of opting for the Panamanian citizenship.
In case the matrimonial link has been dissolved after having children, the foreigner shall have the same right to opt for the Panamanian citizenship after three(3) years of permanent residence, provided that the permanent residence was obtained prior to the dissolution of the matrimony.
5. Immigrant visa for self-sufficient individuals: This visa is granted to foreigners who have enough income to cover the expenses for all their family’s necessities, to his/her spouse and children. In order to apply for such visa, the applicant must deposit the sum of Two Hundred Thousand US Dollars (US$200,000.00) in a local bank, for the term of the provisional visa, which is one (1) year.
Upon applying for the permanent residence, after the year of provisional visa, the foreign client must prove that the deposit at the bank will remain for a period of one (1) additional year with a written confirmation from the bank certifying the deposit.
This visa is perfect for foreign clients that are retired or pensioned, or for those who are not working anymore and would like to live of the income they receive.
VERY IMPORTANT NOTICE: Any foreigner, before becoming a Panamanian citizen, shall loose his resident status if he remains outside of the Panamanian territory for more than three (3) consecutive years.
www.legalinfo-panama.com/tramites/menumigracion.htm
By Joseph Denham, Nov 2006 |
